Government Average Fuel Price Estimates Drop for 2009
The Energy Information Administration released its Short-term Energy Outlook for March including a downward revision in global and US energy consumption for 2009 and a smaller recovery for 2010. Lower energy demand is keeping nationwide average gasoline ($1.96/gal) and diesel ($2.19/gal) fuel prices depressed.
Mobile Web Usage Growing
More than 22 million Americans access the Internet with mobile devices. That's twice the number from a year ago, says comScore. The most popular categories are news and weather with social networks the fastest growing category.
GM and Chrysler Expected to Need More Bailout Money Than Thus Far Requested
Vehicle sales are low and unless improved, recovery plans for GM and Chrysler won't work without more government bailout money than $21.6B thus far requested. Auto parts suppliers have now tapped TARP funds for $5B. Ford has yet to need any assistance.
More Dealers Kicking Back with Online Auctions
One Manheim auction reports not seeing a favorite 70-year-old bidder from a Ford dealer. A phone call later revealed the longtime bidder decided to stay at the dealership and purchase with online bidding. His story is repeated often as online bidding increases throughout the industry.
Lower Vehicle Values Boost Number of Total Losses
As used-vehicle values decline, insurers are writing off more accident vehicles as total losses. Experts say the actual cash value of vehicles dropped 7.3% towards the end of last year. Insurers say they look at totals on a case-by-case basis, not as an across-the-board decision.
