Drivers in California are in for a treat with the California Department of Insurance revealing a further drop in the auto insurance rates in the state. This is the second time this year that this state has made amends to its auto insurance program, thus making it more affordable for the common man.
CarMax Inc., the largest retailer of used vehicles in the nation, recently announced its plans to open four new stores in the coming times. These are to be located in Washington State, Alabama, Pennsylvania, and New York respectively. Work is going on in this regard at an almost war footing and the company is hopeful that these stores will begin operations by 2014, by the March-May period.
As an expansion of rolling over 249,000 SUVs in last August to check for a short in the circuit board in the drivers’ door, General Motors, a top-tier auto manufacturer, has recalled an additional 231,000 vehicles that might also have the danger of electrical short, which can cause fires. The sports utility vehicles involved in both the recall segments include Buick Rainier, 2006 Chevrolet Trailblazer EXT, 2006 GMC Envoy XL, GMC Envoy, 2006-2007 Chevrolet Trailblazer, Isuzu Ascender and Saab 9-7X. According to General Motors, about 443,000 of the SUVs of more than 480,000 that were recalled are in the United States itself.
With the focus on globalization, Toyota Motor Corp., one of the leading auto manufacturers in the world, entered the American market in North America and South America with two familiar names for drastically different markets. Jim Lentz is the new CEO for Toyota in North America, whereas Steve St. Angelo will head for the Caribbean and Latin America. Their performance uniquely in these two markets will determine the company’s success in the biggest market ever, the United States of America, and in the region with one of the highest growth potentials ever.
The recent decision of the Obama government to sell more of their General Motors stakes finally confirms the resurgence of the auto industry in the country. This is surely hearty news for the domestic industry, which has been struggling with a near collapse for years now.
Followed by the tremendous destruction that the city of Oklahoma witnessed last week, people need a lot of help and support in the months to come. With the focus to drive the tornado relief effort in Oklahoma, several leading automakers across the world have come up front to donate vehicles, money and necessary supplies to aid in the rebuilding and recovery process in the coming months. Top auto manufacturers such as Ford, General Motors, Toyota, Volkswagen, Honda, and Chrysler have stepped forward to support the residents in Oklahoma to recover from the significant destruction and loss that they met last week.
According to forecasters, U.S auto sales for the month of May are expected to bounce back after a ‘slowdown’ in April. This, according to forecasters, will dramatically ease the apprehension of yet another “spring collapse.” Full sized pickups will witness strong sales, driving the market yet again as the real estate industry continues to bounce back after a dwindling scenario. “Surprising” dip in the month of April was a real worry to the automakers because the early three years witnessed strong sales in the first quarter, only followed by swooning spring.
Practice speeds from Indianapolis 500 never gained as much attention as the new kid on the block Carlos Munoz. This twenty one year old youngster from Columbia kept the onlookers in throes with his 223.023mph run, which was the fastest lap among the Sunday bunch. His vehicle was the fifth in line at Andretti Autosport. Driver for Michel Andretti kept exchanging their position but ultimately Munoz won the laurels due to his trail blazing run.
Working against the trends S Sedan model from Tesla stables helped make unprecedented profits for this California carmaker. The huge profits have surprised even the company, which had not considered such a huge success for its electric car. Their $11.2 million profits have effectively shut the mouth of skeptics who were predicting demise of the concept even before it got on the floors. While Elon Musk, the Tesla founder was keeping an optimistic expectation, the news of record sales in electric car segment has come as a pleasurable surprise on all counts.
Akio Toyoda, President of Toyota Motor today confirmed the shifting of their Lexus production to US soil. Towards this purpose, the company is all set to invest over five hundred million dollars. A production unit in this luxury vehicle is to come up in Georgetown, Kentucky. The president is hopeful that the first of updated sedans from Lexus will roll off the plant by 2015. Toyoda, by the way is the grandson of Toyota Motor’s founder.
When Detroit Electric called a news conference recently to unveil its all-new battery operated vehicle, the news media simply went gaga! This is not surprising given it is years since any manufacturer bothered to use the Detroit logo on their automobile product. The new project is certainly ambitious by any standards and this is what the critics are calling this launch. After all, the battery car market in the U.S. is presently at its best, uncertain. Therefore, the manufacturers are taking a substantial risk in reviving this brand name.
The latest feather in the cap of the fantastic new Volkswagen Golf is its selection as the World Car of the Year at the recently held New York Auto Show. This is the 7th generation model in this series and it proves once again why Volkswagen is the numero uno name in the world of cars. This is an auspicious beginning for bestselling VW Golf which is all set to rock the US soil from the very next year, when it goes for sale in the country.
New V60 R-Design is the sports version of the Volvo Station Wagon, which set the market afire recently. There is an overwhelming demand for this revived version of the good old vehicles, especially among the Gen Y or the Millennial. This is a drastic shift in attitude from the previous generations, which all but abandoned this sturdy versatile vehicle in favor of minivans or more recently the sophisticated SUVs.
Detroit Electric, a leading battery-car company, has been sending out teaser images, giving a hint of unveiling a new electric sports car. The teaser image also reveals aero-efficient body style with energy-efficient LED lighting, which the company plans to incorporate into its new battery-powered sports car. However, though the Motor City manufacturer is already sending out teaser images for what is in store, the same will not yet take place in Detroit, neither at the upcoming New York auto show. Instead, the company plans to announce about a major partnership with a global auto manufacturer at the Shanghai Auto Show next month.
Dealers of Audi, the Germany-based leading automaker, are having a tough time to meet the overwhelming demands for many of the car models, with the U.S. officials pushing the German-based factory to increase its supple and allotment for each dealer across the country.
Dan Akerson, chairman and CEO of General Motors, has scheduled to visit Capitol Hill on Thursday this week to meet the Congress members, hoping to put behind the controversial political battle over auto bail out, prevalent currently. In fourteen months, this is Akerson’s first trip to the Capitol Hill, first since the giant Detroit automaker was bounded amidst political fervor during the 2012 presidential campaign over $85 billion bailout in the auto industry.
The U.S. auto industry is set to continue with the merry ride of previous months with February showing a steady increase in sales. Automobile industry giant Ford is claiming a 9% boost in sales with Chrysler reporting a 4% jump and GM 7%.
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