2016 brought good news for almost every segment of the auto industry.
Highlights included accelerating used vehicle sales, a record high 17.5 million new vehicle sales, and a growing number of services and support products that are dramatically improving the efficiency of the automotive marketplace – from retail to remarketing.
These trends – and the outlook for 2017 – are explored in depth in the 22nd edition of the Manheim Used Car Market Report, presented by Cox Automotive. Each year, the highly respected compilation provides a compelling snapshot of data and trends shaping the used car business.
"2016 was most likely a bullish year for you regardless of what sector of the automotive ecosystem you're part of," said Tom Webb, chief economist for Cox Automotive. "Looking forward, although there is looming uncertainty about the economic climate in 2017, the prospects are still good that the seven-year recovery in the automotive industry will continue."
Ford Motor Co. will offer customers with older model vehicles the connectivity of a new vehicle that includes 4G Wi-Fi through a small device that plugs into the car.
The Dearborn automaker said Friday that the small Ford SmartLink device plugs into the OBD II port below the steering wheel and will give owners of 2010-2016 Ford, Lincoln and some Mercury vehicles without built-in modems the ability to connect on the road.
Millions of customers could possibly take advantage of the device, Ford said.
In a single week, President Trump's assertion of his more protectionist "America First" trade policy already holds massive implications for the auto industry.
A week that began with a cordial meeting with the CEOs of Detroit's Big 3 automakers ended in a diplomatic dispute with Mexico, a key trading partner and home to many auto plants that supply cars to the U.S.
His administration floated the idea of a tariff or border tax to pay for a wall between the U.S. and Mexico. He made it clear that he has his sights set on a renegotiation of the North American Free Trade Agreement.
Whether you’re heading down to Florida for spring break or out to Denver to go skiing, you need to know about one of the worst kinds of tourist traps you could fall into.
In Orlando, it’s called State Road 528, also known as the Martin Andersen Beachline Expressway. In Miami, it’s Florida State Road 112, also called the Airport Expressway. In Denver, it’s E-470, which connects the city with its international airport.
Not only are these toll roads opportunistically built next to airports, they’re almost entirely cashless, meaning there’s no booth where you can pay your toll.
In his first week in office, President Trump made good on his campaign promise to overhaul U.S. trade policy.
On Jan. 23 he signed a memorandum to pull out of the Trans-Pacific Partnership and made clear his desire to renegotiate the North American Free Trade Agreement with Canada and Mexico.
The next day Trump summoned executives from the Big Three U.S. automakers, Ford, Fiat Chrysler, and General Motors, to the White House. He set the tone with a tweet saying he wants “new plants to be built here for cars sold here.”