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The first question is whether to buy from a private seller or a registered car dealer.
When buying a vehicle privately, you buy “as is”—and if the seller misleads you about the car’s history or condition, or if anything goes wrong after the purchase, you have no recourse whatsoever. Buying from a registered dealer gives you access to more protections and services.
- Dealers must be licensed by a governing body, such as the Ontario Motor Vehicle Industry Council (OMVIC), and comply with its code of ethics, as well as consumer protection laws. OMVIC holds dealers and salespeople to certain standards, and it has an enforcement strategy for non-compliance and illegal sales.
- Dealers rely on repeat business, so it’s in their best interest to treat customers fairly and provide good service. That doesn’t always happen, of course, but private sellers have no such incentive.
- Dealers offer many value-added services, such as vehicle financing, used car warranties, in-store licensing, [...]
If you’ve looked at buying a new or used car recently, you probably came away from the dealer’s lot with some serious sticker shock. In March of 2022, the average price of used cars was up more than 35% from where it was 12 months prior, according to the Bureau of Labor Statistics.
It’s been this way for months: While the March 2022 inflation figure for used cars was slightly less than it had been in the previous three months, it was still the 12th straight month of double-digit inflation for used cars.
Much of that sustained increase in prices can be blamed on the global microchip shortage that continues to slow production of new vehicles, says Brian Moody, executive editor at Autotrader. “The lack of availability of new cars creates pressure on used cars, which then causes prices to go up” across the board, he says.
In addition, fewer transactions for new cars creates its [...]
material is from : https://www.nbcnews.com
So what’s ahead for 2022? By some accounts, it may be more of the same, as shortages continue to leave dealers struggling for inventory and consumers facing ever higher prices. But shoppers will also find a lot more options if they’re looking for electric vehicles.
Here are the storylines we expect will dominate this year:
Ongoing product shortagesAs Covid-19 struck, automakers slashed production and parts orders. But when sales started to rebound, they discovered they couldn’t get all the semiconductors they needed, leading to major production cuts. The industry lost around $210 billion in revenue in 2021, according to AlixPartners, a business management consultancy. While chip supplies are loosening up, they’re far from back to normal, and production cut be hurt well into 2022. Worse, the industry faces other shortages affecting products like tires and interior plastics and seat foams.
Higher prices for new carsAll told, automakers [...]
Top 10 Electric Car Myths, Busted By Sami Haj-Assaad
Electric vehicles (EVs) have seen vast improvements over the years, mitigating many of the concerns shoppers have had about them in the process. Worries about range, reliability, charging infrastructure, and even production have been addressed in some way, with few reasons remaining to keep an EV off your consideration list. Still not convinced? We’re here to help debunk some myths around these all-electric rides.
When EVs first hit the mainstream market, their range was a concern since they had small batteries and there weren’t many places to charge them. These two factors have changed significantly, and only a few pure EVs deliver less than 200 km of [...]
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In a Voluntary Safety Self-Assessment (VSSA) report filed with the U.S. National Highway Traffic Safety Administration (NHTSA), BMW said it plans to introduce what could become the first system on U.S. roads to qualify as “Level 3” conditional automation by SAE’s standards. By way of review, SAE Level 3 involves automated driving rather than driver support features (Levels 0, 1, and 2). Level 4 means that the system controls all aspects of the driving tasks, including when a driver doesn’t respond appropriately to requests to intervene, while Level 5 is entirely autonomous.
BMW’s system is coming with its iNext EV, an all-new, all-electric production vehicle arriving possibly as early as 2021 (Fig. 1). The iNext will feature the automaker’s 5th-generation eDrive system, which is reported to offer up to 530 hp [...]
Companies are collecting our personal data from our vehicles and monetizing it. If it’s my car, isn’t it my data?
What follows might look like a bit of a rant, and I don’t want to appear alarmist, but we are becoming victim to our own data and the sky is falling! Well maybe not, but still …
As consumers we produce millions (billions?) of points of data every day in countless ways, from our shopping choices, to the online searches we do, to the calls we make on our cell phones. We create data in other ways too, ways that many ordinary people may not fully appreciate. When we drive our vehicle, when we have an accident, when we go to a body shop for estimates or repairs, when we make an insurance claim, we are creating data. Companies are collecting this data and monetizing it on a massive and ever-increasing scale.
I’m not aware [...]
U.S. Car Sales Stay Above 17 Million AgainCarmakers have for the first time topped 17 million car and light-truck sales for five years in a row. They surpassed 17 million units only twice before: in 2000 and 2001.As usual, pickup trucks and SUV/crossovers carried the day, offsetting a relentless decline in consumer demand for conventional sedans. Trucks now account for about 75% of the entire U.S. market for new vehicles.The Cool-Down ContinuesStill, overall volume has been slowly shrinking since peaking at 17.55 in 2016. Last year’s volume of 17.11 million units compared with 17.32 million in 2018, according to company reports.On an annualized basis, fourth-quarter demand in 2019 dropped to 16.98 million units. Whether the market will manage to reach 17 million units again this year is anyone’s guess at …READ MORECar Output in Germany Slumps to 23-Year LowGermany’s auto industry, which depends heavily on exports, is in trouble.The country’s production [...]
Speaking at Tesla’s first Autonomy Day event,hosted in Palo Alto and designed to show off the company’s self-driving technology, CEO Elon Musk said Tesla expects to start converting its electric cars into fully self-driving vehicles in some markets next year. It’s part of a plan to create a network of robotic taxis to compete head-to-head against ride-hailing services such as Uber and Lyft. Musk further boasted that “probably two years from now, we’ll make a car with no steering wheels or pedals.”
In its ride-sharing vision, Tesla cars were not in use. Rather, Tesla would allow owners to put their cars into the service via their smartphones, with the company taking 25% to 30% of the fare. Tesla would provide vehicles in areas where not enough people share their cars.
Musk predicted that the company’s system of computers, software, and neural-network object detection and depth recognition would get regulatory approval to operate in California toward the end of 2020.
Unlike self-driving cars from Uber, [...]
