Report Indicates Used-Car Sales More Vibrant Than New
The latest Beige Book shows used-car sales picking up in some regions while new-car sales remain relatively depressed throughout all 12 Federal Reserve districts. Dealers continue to cite limited credit availability for the struggling auto sales.
Environmental Progress May Retard Further Vehicle Safety Enhancements
Both environmental and safety improvement for vehicles are costly to develop and field. With consumers more cost conscious in the present economy and fuel-economy improvements mandated, automakers may be forced to slow implementation of safety features.
Telematics Systems Expand Features Available to Vehicle Users
New electronic hardware integrated into vehicles and connected to the Internet via phone is poised to offer many new features. These include navigation assistance including display of social networks, traffic routing, entertainment features and remote control of electronic vehicle controls.
$1B Agreement Reached for ‘Cash for Clunkers’ Program
Congress has embedded funding to buy gas guzzlers and stimulate new vehicle sales in a wartime spending bill. The "cash for clunkers" appropriation of $1B is just to complete the fiscal year ending September 30th. The program will cost $4B/year if continued.
Report: Tight Credit Pushing Consumers Toward Used Vehicles
An analysis from Experian Automotive says used-vehicle loans accounted for 68% of all auto loans in the first quarter of 2009. The company says tighter credit may be pushing consumers toward used vehicles, and independent dealers are enjoying the rewards of that trend. The report also shows overdue loans are up.
