The Supply of Recession-Era Used Cars Is Dwindling
As drivers hang onto their cars for longer periods of time, car dealerships are struggling to keep up with the current demand for used vehicles
The automotive industry took a pretty big hit during the global recession that began in 2008. As a result, automotive production was greatly decreased, from 53.2 million units in 2007 to 47.77 million units in 2009. Now, that reduction in production is having a profound effect on the used car market. Indeed, many used car […]
Jim Hackett Out at Ford, Jim Farley Named New CEO
Ford Motor Company CEO Jim Hackett is retiring from the automaker after a little more than three years on the job. His replacement is Jim Farley, who was appointed COO this past February. Both moves take effect Oct. 1, and the two will work together in the meantime to ensure a smooth transition of power. […]
Ford Built to Lend a Hand Program Offers Six Months Payment Relief
Ford is offering eligible new car customers in the United States up to six months of payment relief through its newly announced Built to Lend a Hand program. Co-developed with dealers across the country, the program offers support to new and existing Ford customers affected by the coronavirus and its far-reaching economic impact. “Our dealers […]
Joe Hinrichs Retiring from Ford; Farley Named COO
Ford President of Automotive Joe Hinrichs is set to retire on March 1, ending a 19-year career with the automaker. The announcement of Hinrichs’ retirement was accompanied by the news that Jim Farley will become company COO and Hau Thai-Tang will expand his role to include Enterprise Product Line Management and connectivity responsibilities. In a […]
New York City Representatives Calling for Taxi Bailout
New York City’s yellow cabs are some of the city’s most iconic symbols. The exploding popularity of Uber and Lyft have made a dent in how much traditional cab drivers earn, and it’s sending many of them into bankruptcy and failure. This month, the issue climbed the steps of the U.S. Capitol for a hearing […]
Bob Shanks, Peter Fleet to Retire from Ford
Ford Motor Company Chief Financial Officer Bob Shanks has announced his plans to retire at the end of 2019, confirming a report from February. Shanks, a 42-year veteran at Ford, is to be succeeded by former Snap Inc. CFO Tim Stone, who will also take on the role of company officer. Stone will begin in […]
7 Legit Ways to Get Free Gas
Gas is one of those inevitable things most car drivers have to deal with. The problem is that gas can be expensive. If only there were better ways for us to get cheap gas — and those ways did not involve doing anything illegal. But wait! There actually are a few ways in which you […]
Neil Schloss, Ford Mobility CFO, Retiring at Year’s End
Ford Motor Company on Thursday announced the retirement of Ford Mobility Vice President and CFO Neil Schloss. Schloss, whose retirement is effective Dec. 31, has been with Ford for 36 years and served as company treasurer during the pivotal Great Recession years. With Schloss’ expertise, Ford was the only one of the three major Detroit […]
Used-Vehicle Prices ‘Unusually Strong’ for Summer, Experts Say
If you head out to a dealership this summer expecting to get a low, low price on a used vehicle, you may have to do a bit more shopping around. Automotive News reported this week that industry analysts are finding used-vehicle prices to be “unusually strong” for the summer, holding steady in the wake of […]
New “Ford vs. Chevrolet” Podcast Tells the Story of an Epic Detroit Rivalry
Ford vs. Chevrolet is one of the all-time great American car rivalries, and now it’s the subject of a new podcast miniseries. Business Wars: Ford vs. Chevrolet was written and narrated by author and historian A.J. Baime. The four-part podcast is part of Wondery’s larger Business Wars series. With both automakers headquartered just a short […]
Book Review: “Nomadland” by Jessica Bruder
A retired couple purchases a used RV and heads for the open road. Wandering from place to place, visiting America’s natural wonders, and meeting new people along the way, they decide to opt out of monthly mortgage payments and make their itinerant lifestyle a permanent one. This may sound like the ultimate dream retirement, […]
Subprime Car Buyers Begin to Abandon New Vehicle Purchases
As new vehicle sales for subprime car buyers fall by 9%, more of these customers are deciding to buy used instead
Approximately a decade has passed since the financial crisis that helped fuel the Great Recession. Immediately following this economic downturn, financial lenders were willing to work with consumers with lower credit scores through subprime loans. However, at the beginning of 2018, many of these subprime car buyers are beginning to vanish from dealership lots. In […]
What Ever Happened to the Original Dodge Demon Concept?
Originally, the Dodge Demon was not meant to be a drag-racer, but rather a roadster instead
We are now less than a week away from the Dodge Demon’s official reveal on April 11th during the New York International Auto Show. Over the past few months, Dodge has done a pretty effective job at building up hype for its new performance vehicle. Everything revealed so far about the 2018 Dodge Challenger SRT […]
2017 Volvo XC90 T8 Overview
After Ford sold the Volvo luxury brand to Geely Holding Group during the Great Recession, the first priority of the Chinese company was to launch a second-generation XC90 SUV. This model finally arrived in 2015 as a 2016 model year vehicle and went on to win a plethora of coveted automotive awards, including the 2016 […]
Americans Wasted 8 Billion Hours Stuck in Traffic Last Year
If you took a road trip for this Memorial Day weekend, you may have formed the following opinion at some point during your travels across the United States: traffic sucks. Related info: Check out these tips for choosing a road trip partner Well, now there is solid evidence to back up your assessment, provided by […]
Detroit Auto Show Attendance Rises in 2016
The North American International Auto Show, also known as NAIAS or simply as the Detroit Auto Show, has been an institution since it began in 1907. Attendance has fluctuated over the years as the auto industry has changed, and recently the show has seen rising attendance as the economy recovers from the Great Recession. In […]