Even though diesel engine vehicles comprise a huge chunk of new car sales in Europe, but only 3% in the U.S. market, the sales numbers are expected to change. Peter Marks, chief of Bosch's North and South American units, thinks it will be about 10% of new light-duty vehicle sales by 2015 for a few reasons that make them economically more attractive.
Experian Automotive just released a report analyzing US auto loans, and have found that lenders are allowing for lower credit scores with new car borrows, the lowest level since late 2008. Lenders are loosening up because few existing borrowers are falling behind on payments, says Melinda Zabritski, director of automotive credit at Experian Automotive.
The driverless car, first displayed at the 1939 New York World's Fair by General Motors, is closer than ever to reality. Google tested a driverless Prii using Google maps in 2010. The technology exists with self parking systems, Volvos that brake for drivers, and Mercedes that self steer in their lanes. Many see the everyday taxi as the first of the self-steering vehicles to be used by the public.
Small car trade-ins will see more than a 30% year-over-year increase, according to Jonathon Banks, senior analyst with NADA Used Car Guide. Strong consumer demand for cars such as the Ford Focus, Honda Civic, and Toyota Corolla is driving up prices and reflects a shortage of new and used cars entering the market
A survey of 550 energy industry executives indicates that nearly two thirds of the respondents expect oil to hit $121 a barrel this year. At least 17% predicted upwards of $140.