DIRS.INFO The most relevant business & tech news

☆ Matte car colors in muted earth tones are suddenly taking over — but the trendy paints come at a cost
▼ + stars: | 2023-03-18 | by ( Bethany Biron | ) www.businessinsider.com time to read: +4 min

Earthy, muted shades are becoming increasingly popular among car buyers, according to the LA Times. The muted cars are suddenly popping up everywhere, lining freeways and parking lots in unassuming shades of gray, black, brown, tan, and green. "The term 'stealth' comes to mind when we see a car in matte gray or matte black. Derek Joyce, a spokesman for Hyundai Motor North America, told the Los Angeles Times that the muted shades of its Hyundai Santa Cruz model are outselling more traditional hues. The styles are also picking up steam on TikTok, where users are sharing videos of their matte cars, or of transforming old models using the new trendy paints.

☆ How Elon Musk Ruined Tesla, Let Other Car Companies Catch up on EVs
▼ + stars: | 2023-02-26 | by ( Nora Naughton | ) www.businessinsider.com time to read: +12 min

"I feel stupid driving around with my brand-new Tesla Model Y," Mark told me. Tesla spent the past two decades defying expectations and disrupting the automotive industry, but in 2023 the once revolutionary car company did the seemingly unthinkable: It turned fanboys against it. But after years of rocketing ahead of legacy car companies' tech, the futuristic guts of Tesla's vehicles have started to go stale. Companies like Ford and Audi are changing their sales strategies to model Tesla's innovative direct-sales style. These companies have something Musk doesn't: nationwide networks of brick-and-mortar locations where customers can have their vehicles serviced and repaired.

☆ After a steep fall, used car prices poised to rise again
▼ + stars: | 2023-02-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

That shortage of new car inventory helped drive both new and use car prices to record levels earlier last year. The disruptions to the new car market at that time are about to be felt by today’s used car market. “And that’s going to impact wholesale prices and ultimately, retail prices.”It’s tough to know how long the rise in used car prices will last. The drop in used car prices has been a major factor in the slowing of inflation, but a sustained rise in used car prices could make it more difficult for the Fed to pull back on rate hikes. And prices would have risen 6.9% over the same 12 month period if used car prices had posted such a steep decline and instead just stayed unchanged.

☆ Toyota unveils new Grand Highlander, expanding hybrid crossover lineup
▼ + stars: | 2023-02-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

In this article 7203.T-JP Follow your favorite stocks CREATE FREE ACCOUNT2024 Toyota Grand Highlander ToyotaCHICAGO — Toyota Motor is expanding its segment-leading, three-row crossover lineup with the new 2024 Grand Highlander, including two gas-powered hybrid offerings. The automaker revealed the vehicle as a bigger sibling to the Toyota Highlander midsize SUV/crossover on Wednesday night. The Grand Highlander adds to the growing three-row midsize crossover segment in the U.S., which has expanded from 12 nameplates in 2018 to 16 vehicles for 2023, including the Grand Highlander, Edmunds reports. 2024 Toyota Grand Highlander ToyotaThe Grand Highlander was revealed in connection to this week's Chicago Auto Show. 2024 Toyota Grand Highlander ToyotaToyota says the Grand Highlander will offer a suite of active safety and convenience features as well as 13 cupholders and seven USB-C charge ports across the vehicle's three rows.

☆ Here's what the Federal Reserve's 25 basis point interest rate hike means for your money
▼ + stars: | 2023-02-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +7 min

The federal funds rate, which is set by the U.S. central bank, is the interest rate at which banks borrow and lend to one another overnight. "Credit card interest rates are already as high as they've been in decades," said Matt Schulz, chief credit analyst at LendingTree. As the federal funds rate rises, the prime rate does, as well, and your credit card rate follows suit within one or two billing cycles. "A 0% balance transfer credit card remains one of the best weapons Americans have in the battle against credit card debt," Schulz advised. The average interest rate for a 30-year fixed-rate mortgage is now around 6.4% — up almost 3 full percentage points from 3.55% a year ago.

☆ Tesla's price cuts have triggered a serious surge in buyer interest
▼ + stars: | 2023-01-19 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Interest in Teslas on car-shopping website Edmunds surged after last week's price cuts. Tesla's price cuts also come at a time when shoppers are still struggling to find good deals on new vehicles, making discounts like Tesla's all the more appealing, Caldwell wrote. No longer priced as luxury vehicles, Tesla's cars will now compete with EVs marketed to mainstream buyers. The price cuts also allow Tesla's vehicles to qualify for an additional $7,500 tax credit on new EVs as part of the Biden administration's Inflation Reduction Act, another draw for shoppers. "Price cuts of 20% or more, with incentives, nationwide don't come around often, so acting now is in your best interest before any corrections in the opposite direction."

☆ The steep plunge in used car prices – what it means, and what’s ahead
▼ + stars: | 2023-01-16 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Tracking used car prices is enough to give anyone whiplash. Today’s average used car price is about the same as the average new car price as recently as 2010. Experts say part of the decline in used car prices is that the price increases were not sustainable and were partly driven by buyers at used car auctions overpaying for the limited supply of used vehicles. There could be more declines in used car prices in the months ahead, as new car inventories continue to build. One thing that could put a floor under the used car prices: late model used cars will likely be in short supply given the reduced new car production over the last three years.

☆ It's becoming increasingly clear Tesla is just another car company
▼ + stars: | 2023-01-06 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Tesla has been resorting to the same tricks car companies use to paper over their problems. Tesla cuts pricesAt the end of 2021, rental-car giant Hertz said it had ordered 10,000 Tesla Model 3s for its fleet. The announcement was met with excitement from EV boosters, but automotive industry experts and executives wondered at the time if this was an early sign of over-building at Tesla. Experts think discounts will continueMeanwhile, Tesla's stock price is plummeting amid Musk's controversies at Twitter and worries from analysts that the car company is essentially operating without a CEO at the moment. Experts and analysts will be watching to see if the electric car company returns to its no-discount way of life, or continues to pull from old industry playbooks.

☆ Car buying is never going back to normal
▼ + stars: | 2023-01-05 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Supply-chain snarls revealed buyers are willing to wait for the car they want. Changing dynamics mean we're not going backThat doesn't mean everything's going back to normal. Execs at Ford and Stellantis (the Detroit-based parent company of Fiat Chrysler and PSA Group) have expressed similar views in the past few months. Even if they could revert to pre-pandemic inventory and wipe away supply chain issues, car-buyers have adapted to pandemic-induced trends. "The customer orders a vehicle, and then we ship the vehicle to the customer," Farley said in a Q2 earnings call.

☆ Share of new car buyers with a monthly payment of more than $1,000 hits record high
▼ + stars: | 2023-01-04 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Amid rising interest rates and elevated auto prices, the share of new car buyers with a monthly payment of more than $1,000 jumped to a record high, according to Edmunds. At the same time, the interest rate on new car loans reached 6.5%, up from 4.1% a year earlier, Edmunds data shows. As the Federal Reserve continues to raise interest rates to combat persisting inflation, auto loan rates could tick even higher, although consumers with higher credit scores may be able to secure better loan terms. Now, more consumers face monthly payments that they likely cannot afford, according to Ivan Drury, Edmunds' director of insights. Car buyers are hit with "shock and awe" as high prices and rising rates cause monthly payments to balloon, he said.

☆ Use this calculation to find the best used car for your money — plus 10 models that come out on top
▼ + stars: | 2022-12-27 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

The report then ranked those models based on the cost per remaining mile calculation to determine which used cars are the best deal. The 10 best used cars for the moneyIn the No. Overall, five Toyotas made the top 10 list of best 5-year-old used cars for the money, also including the Camry, Corolla and Avalon. He offered these five tips for anyone in the market for a used car. Being "basic" has its benefits: Going with widely popular models has an added advantage when it comes to buying a used car, Drury said.

But the days of the Tesla flip are numbered - a potential threat to new car prices that are already getting cut. The average price for a used Tesla in November was $55,754, down 17% from a July peak of $67,297. The overall used car market posted a 4% drop during that period, according to Edmunds data. The used Teslas were in dealer inventory for 50 days on average in November, compared with 38 days for all used cars. He ordered a new one - but has just bought a used Tesla at a discount.

☆ The best bang for your buck: These 10-year-old used cars cost less than $16,000 and could go for another 100,000 miles
▼ + stars: | 2022-12-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

When it comes to car buying, there may be fewer deals out there, but there is still plenty of value to be had. To that end, cost-conscious car shoppers are increasingly seeking out used vehicles in good condition. A certified pre-owned vehicle, usually one coming off a lease, often includes warranty coverage, which greatly reduces the worry that can also come with buying a used car. However, a limited supply of new cars and trucks due to the ongoing chip shortage caused demand for used cars to skyrocket, pushing prices much higher and reducing the value of buying pre-owned. Now, used cars are one of the few categories with prices that are finally lower than they were a year ago, according to the latest inflation reading.

☆ Car repossessions are on the rise in warning sign for the economy
▼ + stars: | 2022-12-17 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +8 min

WASHINGTON — A growing number of consumers are falling behind on their car payments, a trend financial analysts fear will continue, in a sign of the strain soaring car prices and prolonged inflation are having on household budgets. The percentage of auto loans that were 30 days delinquent was at 2.2% in the third quarter compared with 2.35% delinquent over the same period in 2019, according to data from Experian. By contrast, just over 4% of auto loans went into default in 2009. Another risk to car buyers’ finances is the growing length of auto loans, many of which now exceed seven years. It can also mean higher interest costs over the life of the loan on top of already inflated vehicle prices.

☆ Buying a car is finally easier — but watch out for high interest rates and lingering inventory issues
▼ + stars: | 2022-12-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Easing supply chain crises mean more vehicles on lots, used vehicle prices are down, and demand is normalizing. "There's really not a lot of ways to escape them unless you are willing to change the car that you're buying," Drury said. As far as luxury cars go, there aren't many deals to be found, he added. Used cars are displayed on the sales lot at Marin Acura in July 2021. Car-buyers might find a used vehicle could suit their needs while they hold out for lower prices surrounding new vehicles.

☆ Here’s what the Federal Reserve’s half-point rate hike means for you
▼ + stars: | 2022-12-14 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

watch nowWhat the federal funds rate means for youThe federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. Consumers with an adjustable-rate mortgage or home equity lines of credit may also want to switch to a fixed rate. However, the average interest rate for a 30-year fixed-rate mortgage is around 6.33% this week — up more than 3 full percentage points from 3.11% a year ago. Federal student loan rates are also fixed, so most borrowers won't be impacted immediately by a rate hike. Thanks, in part, to lower overhead expenses, the average online savings account rate is closer to 4%, much higher than the average rate from a traditional, brick-and-mortar bank.

☆ New car prices are finally coming down. But not by much
▼ + stars: | 2022-11-10 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

CNN —New car prices are finally coming down. Over the past few months, though, prices have fallen to only about $230 over MSRP, on average, according to Edmunds. Land Rover models, on average, still sell for $4,500 over sticker price while Kia models sell for about $1,600 over sticker price. For the past 17 months, though, according to Cox Automotive, vehicle inventory shortages have enabled car dealers to push prices above MSRP. Used car prices are also starting to come down a bit, something that could prod new car shoppers back into the market, said Drury.

New car prices may finally start declining in the coming months — but don't expect to pay much less on a monthly basis due to higher interest rates. Thanks to stalling sales and a 17-month high in vehicle supplies, "deflation" may finally be arriving for new car prices, Jonas said. Power also predicted lower list prices could come in the coming quarters thanks to rising interest rates, higher vehicle availability and worsening economic conditions that are likely to affect overall demand. And the lower list prices would come at a time when interest rates to borrow for car purchases are at levels not seen in 15 years — nearly 6% on average. Analysts at auto group Edmunds.com also suggest customers think about settling for a larger monthly payment to avoid paying more overall.

☆ Kia, once the ‘value’ brand, now has the biggest price markups
▼ + stars: | 2022-09-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

CNN Business —Reversing a century of tradition, most cars now sell for over the manufacturer’s sticker price. It isn’t some luxury or performance brand; it’s Kia, the South Korean car brand usually thought of as a value purchase. On average, Kia cars and SUVs are selling for about 6% over their sticker price, according to data from Edmunds.com. Roughly tied for second, at 4% above sticker price on average, are Honda, Hyundai and the luxury SUV brand Land Rover. Kia Motors AmericaAdding to the pressure is that, while manufacturing slowdowns have hit the whole industry, Kia models are especially hard to find.

☆ Here's what the Federal Reserve's third 75-basis point interest rate hike means for you
▼ + stars: | 2022-09-21 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

The federal funds rate, which is set by the U.S. central bank, is the interest rate at which banks borrow and lend to one another overnight. As the federal funds rate rises, the prime rate does, as well, and your credit card rate follows suit within one or two billing cycles. "A 0% balance transfer credit card may be your best weapon in the battle against credit card debt and rising interest rates," he advised. Federal student loan rates are also fixed, so most borrowers won't be impacted immediately by a rate hike. Of course, anyone with existing education debt should check whether they are eligible for federal student loan forgiveness.

☆ Another interest rate hike is coming from the Federal Reserve: Here's how it could affect you
▼ + stars: | 2022-09-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

The U.S. central bank has already raised interest rates four times this year, for a total of 2.25 percentage points. As the federal funds rate rises, the prime rate does as well, and credit card rates follow suit. Student loans The interest rate on federal student loans taken out for the 2022-2023 academic year already rose to 4.99%, up from 3.73% last year and 2.75% in 2020-2021. It won't budge until next summer: Congress sets the rate for federal student loans each May for the upcoming academic year based on the 10-year Treasury rate. Of course, anyone with existing education debt should check whether they are eligible for federal student loan forgiveness.

Search resuls for: "Ivan Drury"

21 mentions found