American Attitudes on Car Ownership Are Changing

The University of Michigan Transportation Research Institute (UMTRI) just released two studies on where car ownership is headed in the US. One study showed by that the rate of vehicle ownership on a per-person, per-household, and per-licensed driver basis peaked in 2006 prior to the Great Recession. Another UMTRI study found that there’s been a significant decline in vehicle miles traveled – those numbers peaked in 2004. The studies have found that Gen-Y/Millenials are losing interest in driving. Older drivers also play into it – they make up the majority of drivers on American roads and are tending to drive shorter distances.

BMW Counting on i3 as Flagship for its Electric Vehicle Offerings

BMW has just unveiled its long-anticipated all-electric i3 hatchback. BMW hosted a series of elaborate events for the i3 on Monday in London, New York, and Beijing. It’s expected to price at $41,350 (plus a $925 delivery charge) in the US prior to incentives. It’s impressing analysts who see the automaker taking the technology very seriously, including investing $2.7 billion into it so far. Competitors will include other luxury brands with alternative technologies such as Lexus hybrid models, though it’s expected to be targeted primarily against German competitors in the home market. Tesla could be part of the race, especially its upcoming Model X.

Leasing Playing a Large Part in New Vehicle Sales Growth

Automakers are battling for leadership in the midsize car segment, and leasing has become a big part of their marketing strategies. While leasing used to be mostly a tactic for luxury vehicles, it's now becoming more mainstream. Solid used car prices, low interest rates, and the appeal of lower monthly payments with US consumers is driving the leasing trend. Its reaching its highest level as a funding source for new vehicle sales not seen since 2007. Automakers will need to remain in a cautious stance for leasing to merit its worth.

FirstLook iPhone App Helps Remarketers Make Appraisals Anywhere on the Lot

• As experts have told Used Car Market Reports, mobile phones are expected by many remarketers on lots and in auctions.
• Mobile devices should be able to deliver a lot more than used vehicle pricing.
• FirstLook Systems recently launched its iPhone App that accesses its comprehensive vehicle market database instantly for determining how much to bid for trades and purchases.

Find out more about FirstLook’s iPhone App and what it offers dealers in the appraisal process.

Webinar on Improving Fleet Safety Coming Up on August 8th

Fleets of all types – from small to large – say that fleet safety is their number one concern today. They’re focused on keeping employees and vehicles safe, and controlling operating costs. GPS tracking software has become an important technology to help improve fleet safety by knowing where technicians or crews are located in real-time, […]