Archive for May, 2008

The U.S. will be getting an all-electric car in 2009.  The car is called the Think City and is manufactured by a Norwegian company called Think Global AS. U.S. venture capital investors have backed the company in this endeavor.  These same investors helped build Silicon Valley, according to the Wall Street Journal. The petite car […]

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GM announced yesterday that more than a quarter of its hourly workers are expected to leave by July due to buyout and retirement offers, reports USA Today. Those taking the buyout and retirement deals amount to 19,000 of the 73,000 hourly workers at GM.  GM is one of the many automakers trying to cut costs […]

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Gas prices seem to reach a new record high every day, with no end in sight.  To get money to fill up their gas tanks, people are resorting to donating blood and plasma.  On a sadder note, there are even people out there who are just stealing gas.  Gas thieves are getting bolder in their […]

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After Ford announced last week that it is cutting production and lowering its 2009 profitability goal, the company is now saying it will cut its U.S. salaried work force by about 10 to 12 percent. The cuts will attempt to help Ford’s restructuring plan, which is majorly struggling due to high gas and raw materials […]

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The BMW brand led the pack in the annual U.S. automobile quality survey this year, done by San Diego-based Strategic Vision.  Other luxury brands, such as Hummer, Mercedes-Benz, Audi, Infiniti, Lexus, Land Rover, Cadillac, Lincoln and Volkswagen also landed at the top of the list. Even though the luxury brands ranked at the top, total […]

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The New York Times has a great story on their Web site today discussing how the credit crunch is affecting the auto industry.  It talks about how banks and lenders aren’t loaning as much money anymore and as a result, less people are getting financing for a car. Home owners who would usually take out […]

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It seems the ever-increasing price of gas is making people stop and think about their driving habits.  The Department of Transportation said figures from March show the steepest decrease in driving ever recorded, reports CNN.com. Compared with March a year ago, Americans drove an estimated 4.3 percent less, or 11 billion fewer miles, the DOT’s […]

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You’re in the market for a new or used car.  You’re starting your research, still several months out from your actual goal date of buying.  You’ve even checked your credit score to see where you stand so you can fix any errors. No doubt you’ll be looking at the manufacturers’ Web sites to get specs, […]

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United Auto Workers Local 235 voters approved the tentative deal with American Axle Thursday night, ending the three-month strike that has crippled General Motors’ production, reports the Detroit News. Both the national contract and all local contracts have been approved by a vote of 78 percent of workers.  More than 1,500 of about 1,900 workers […]

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When talking about refinancing, seldom do we hear about anything other than mortgages. Lesser known is the sizable sums of money that auto refinancing can save under the right conditions. Ed Powell, chief consumer officer at LendingTree.com, says that it’s important to remember that consumers still have good opportunities to improve their auto loan terms […]

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