According to CNW Research's Art Spinella, used vehicles sales were down in the first half of November. They should be slightly higher than a year ago, but it was surprising coming off the best October the used-vehicle industry has seen in four years.
Sales of hybrid gas-electric cars are dropping due to the weak U.S. economy and dramatic improvements in traditional internal combustion engines. U.S. sales of Toyota's Prius were 9.4 per cent lower in the first 10 months of 2011 than the same timeframe of 2010 while other manufacturers report even greater sales shrinkage. Lower gas prices have contributed to the drop along with new internal combustion technology.
A public opinion poll found more than 70% of Americans had a positive attitude towards GM, a turnaround from the 70% negative opinion recorded two years earlier after the $50 billion GM bailout. However, it is unlikely the government will sell off its remaining 500 million shares in GM anytime soon. To break even would require a share price of around $53.
A recent AAA study showed that teen drivers are 50% more likely to crash in the first month of having their license than they are after a full year of experience driving on their own. Over 50% of the crashes that involved teen drivers in their first month behind the wheel typically involved three common mistakes: failure to reduce speed, inattention and failure to yield. Crashes decline once a teen gains experience.
The National Highway Traffic Safety Administration is examining lithium-ion batteries used in electric cars after a Chevrolet Volt ignited shortly after undergoing a crash test. GM said the fire would not have occurred if the automaker's protocols for deactivating the battery after the crash had been followed. Federal officials said they had no reason at this time to view the Volt as unsafe.