#GM BRINGING BACK Z/28 MUSCLE CAR

Remember when you were 16 years old and the coolest guys in your school had a Z. Everyone in town either wanted one or knew somebody with a Z and they were probably next to owning a vette the most popular car in 50 years aside from the 57 Chevy. GM rolled out the Camero Z/28 at the New York International Auto Show. The goal is to have the Z/28 in consumer hands by 2015. The Z introduced in 1967 hasn't benn around since 2002. Earlier this year, GM North American pulled the Stingray name out of mothballs and placed it on the latest Chevrolet Corvette sports car, which goes into production later this year. While car names may stir memories for auto enthusiasts, the coming Stingray and Z/28 won't be the volume leader GM needs to rebuild their market share worldwide. I wonder if the new Stingray and Z/28 will have a state of the art 8 track player included in the price. Reinvention of the muscle cars of the past proves that former auto designers had a better business model for car sales than the new MBA wiz kids.

BANKS OVER CHARGING ON AUTO LOANS#

A federal consumer regulator said on Thurday some lenders offering auto loans through auto dealerships charge minorities above-market interest rates and warned it will crack down on a profit-sharing practice between used and new car dealers and lending institutions. The Consumer Financial Protection Bureau said a typical industry practice known as "dealer markup" -in which a lender and a used or new car dealer split interest-rate charges-may lead to lending discrimination. The regulator said its examination of the industry shows that some lender policies allows markups of interest rates, and that there is a "significant risk" the practice results in higher interest rates for African-Americans and Hispanics. The CFPB would force auto lenders "into changing the way they compensate dealers without any indication that the bureau has examined the effect this change could have on the cost of credit for consumers". The agency failed to address the fact that high risk consumers often times require the cardealer to in fact co-sign or guarantee the loan. If the consumer defaults on the car loan the dealership is liable to the bank to payoff the debt. The credit scoring system often requires consumers with marginal or low credit scores to pay higher interest rates.

#NEW CAR SALES STRONG

Latest News New Vehicle Sales Remain Strong New-vehicle sales remain strong in March, as both the light-vehicle retail selling rate and the total light-vehicle rate are consistent with February's performance at 12.1 million units and 15.3 million units, respectively, according to a monthly sales forecast developed by J.D. Power and Associates' Power Information Network (PIN) and LMC Automotive. March new-vehicle retail sales are expected to come in at 1,158,000 vehicles, which represent a seasonally adjusted annualized rate (SAAR) of 12.1 million units, with volume approaching a double-digit increase from March 2012. Retail transactions are the most accurate measurement of true underlying consumer demand for new vehicles. The average new-vehicle customer-facing retail transaction price ($28,504) is up 3 percent from March 2012. Leases account for 23.1 percent of new-vehicle retail transactions in March 2013, up from 20.0 percent in March 2012. In addition, the percentage of retail sales with a 72-month or longer loan is at record levels, reaching 32.1 percent in March 2013, an increase from 30.4 percent in March 2012. Total light-vehicle sales in March 2013 are projected to reach 1,465,100 units, an 8 percent increase from March 2012, with a selling rate that is consistent with the expected performance for the year. Fleet share is expected to hold at 21 percent. The outlook for 2013 remains strong and consistent with the pace expected to be set in the first quarter. LMC Automotive is holding its 2013 U.S. forecast for total light-vehicle sales at 15.3 million units and the retail light-vehicle forecast at 12.5 million units.

BEWARE OF FAKE DEALER LOTS AND ADS

Latest News BBB Warns of Fake Dealership Sites The Better Business Bureau of Minnesota and North Dakota (BBB) is urging consumers considering an online car purchase to be extra cautious following three recent incidents involving bogus auto dealer websites, each claiming to be located in North Dakota. This scheme was first brought to light by the BBB in late 2011 - when another bogus online entity claimed to be operating an auto dealership in southern Minnesota - and it appears to be spreading. In the three most recent cases investigated by the BBB, the 'hook' used to entice customers was similar - authentic-looking used auto dealer websites featuring high-end luxury cars such as Ferraris and Bentleys, often priced thousands of dollars below typical book value. Each site claimed a physical address in North Dakota, and provided one or more North Dakota phone numbers for people to contact. Last October, a Connecticut consumer alerted the BBB to a website purporting to be 'Wieser Autos', on 7th St. S. in Fargo, N.D., (this is not to be confused with Wieser Auto Sales, a legitimate used car dealer in Wahpeton, N.D.). The BBB's investigation revealed that no such dealer was licensed in North Dakota, and that many of the website's auto listings were lifted directly from online inventories of legitimate car dealers around the country. The Fargo address the phony company claimed actually belonged to an unsuspecting business not connected with the shady website. The BBB immediately contacted the web provider hosting the bogus website, reporting its findings and urging the provider to suspend the site. The website was taken down within a few days, although the BBB subsequently learned of a victim in California who sometime in the weeks prior had wired away over $23,000 to scammers for a truck he never received. In November, the BBB received a complaint from an Illinois consumer about a website claiming to be 'Golden Motor Group' on Morrison Ave in Bismarck, N.D. The BBB once again determined that listed vehicles actually belonged to other, legitimate dealerships, and that the address listed was a rented storage locker. The BBB was again able to have that website shut down. Unfortunately, the consumer who reported the scam had already wired away $32,000 for a sports car that was never delivered. The most recent example of this scam came in February, when a consumer in Hawaii contacted the BBB about a website purporting to represent 'Nationwide Motor Center,' with an address on North 4th St. in Grand Forks, N.D. Once again, the BBB was able to establish that the dealership and its inventory were non-existent, and the web provider quickly opted to shut down the site when presented with these findings. One new 'twist' in the Grand Forks case was that the consumer first encountered 'Nationwide Motor Center' through a listing on Cars.com, a legitimate auto advertising and research site. A contact claiming to be a private individual indicated she was consigning her truck due to 'financial hardship,' and urged the consumer to contact 'Nationwide' about the purchase. The consumer cut off communication with the 'consignor,' and he alerted the BBB.

#The Toyota 1988 Land Cruiser 4x4

Stevescars.com one of the nation's number auto reseller of police impound vehicles has just received a 1988 4x4 v6 Toyota Land Cruiser for sale. Review the history below of this great vehicle. The vehicle comes with roof rack and has 186,000 miles and a clean Ca. title. This vehicle can be shipped nationwide. The vehicle has a view minor dings but looks great for 25 year old vehicle. 60 Series Also called Toyota Samurai (Venezuela) Production 1980–1990 Assembly Toyota City, Japan (ARACO) Cumana, Venezuela Body style 4-door station wagon Layout Front engine, four-wheel drive Engine Petrol: 4.2 L I6 2F petrol (FJ60) 4.0 L I6 3F petrol (FJ62) Diesel: 3.4 L I4 3B diesel (BJ60) 4.0 L I6 2H diesel (HJ60) Turbodiesel: 4.0 L I6 12H-T diesel turbo (HJ61) Transmission 4-speed manual H41F or H42F 4-speed automatic A440F 5-speed manual H55F (non-US) Wheelbase 2,730 mm (107.5 in) Length 4,675 mm (184.1 in) Width 1,800 mm (70.9 in) Height 1,750 mm (68.9 in) The Land Cruiser 60 series was produced from 1980 through 1990 for most markets but the Cumana Plant in Venezuela continued until 1992 for their local market. It is a front engine, four door wagon which can seat five to eight[citation needed] people. Like all Land Cruiser generations, it is well known in the off-road world for its off-road abilities but was somewhat limited by its awkward departure angles.[citation needed] The 60 series was available in the following solid exterior colors: Alpine White, Brown, Desert Beige, Freeborn Red, Royal Blue; and in the following metallic exterior colors: Charcoal Gray, Cognac, Gray-Blue, Rootbeer, Sky Blue, Stardust Silver. 1980 — The 60 series was introduced. While still retaining the rugged off-road characteristics of previous Land Cruisers, the 60 was designed to better compete in the emerging sport utility vehicle market. The 60 was given a variety of comforts like air conditioning, a rear heater and an upgraded interior. The FJ60's "2F" petrol engine was left unchanged from the "40" series while six-cylinder 4.0 L 2H and four-cylinder 3.4 L 3B diesel engines were added to the product line. 1981 — Land Cruiser sales surpassed 1 million and a high-roof version was introduced. The 60 series was introduced to South Africa when a stock Land Cruiser competed in the Toyota 1000 km Desert Race in the punishing wilds of Botswana. 1984 — This was the final year for the 40 series. 1984 — Alongside the 60 series, the 70 series was introduced. 1985 — The Direct-injection 12H-T turbodiesel engine was introduced. 1988 — The petrol engine was upgraded to a 4.0 L 3F-E EFI engine. The FJ62G VX-Series was introduced allowing the Land Cruiser to be sold in Japan as a passenger vehicle. Toyota Land Cruiser post-facelift (US) 1981–1987 Toyota Land Cruiser (FJ60; Australia) 1987–1990 Toyota Land Cruiser (FJ62RG) GX (Australia) 60 Series 60 Series Also called Toyota Samurai (Venezuela) Production 1980–1990 Assembly Toyota City, Japan (ARACO) Cumana, Venezuela Body style 4-door station wagon Layout Front engine, four-wheel drive Engine Petrol: 4.2 L I6 2F petrol (FJ60) 4.0 L I6 3F petrol (FJ62) Diesel: 3.4 L I4 3B diesel (BJ60) 4.0 L I6 2H diesel (HJ60) Turbodiesel: 4.0 L I6 12H-T diesel turbo (HJ61) Transmission 4-speed manual H41F or H42F 4-speed automatic A440F 5-speed manual H55F (non-US) Wheelbase 2,730 mm (107.5 in) Length 4,675 mm (184.1 in) Width 1,800 mm (70.9 in) Height 1,750 mm (68.9 in) The Land Cruiser 60 series was produced from 1980 through 1990 for most markets but the Cumana Plant in Venezuela continued until 1992 for their local market. It is a front engine, four door wagon which can seat five to eight[citation needed] people. Like all Land Cruiser generations, it is well known in the off-road world for its off-road abilities but was somewhat limited by its awkward departure angles.[citation needed] The 60 series was available in the following solid exterior colors: Alpine White, Brown, Desert Beige, Freeborn Red, Royal Blue; and in the following metallic exterior colors: Charcoal Gray, Cognac, Gray-Blue, Rootbeer, Sky Blue, Stardust Silver. 1980 — The 60 series was introduced. While still retaining the rugged off-road characteristics of previous Land Cruisers, the 60 was designed to better compete in the emerging sport utility vehicle market. The 60 was given a variety of comforts like air conditioning, a rear heater and an upgraded interior. The FJ60's "2F" petrol engine was left unchanged from the "40" series while six-cylinder 4.0 L 2H and four-cylinder 3.4 L 3B diesel engines were added to the product line. 1981 — Land Cruiser sales surpassed 1 million and a high-roof version was introduced. The 60 series was introduced to South Africa when a stock Land Cruiser competed in the Toyota 1000 km Desert Race in the punishing wilds of Botswana. 1984 — This was the final year for the 40 series. 1984 — Alongside the 60 series, the 70 series was introduced. 1985 — The Direct-injection 12H-T turbodiesel engine was introduced. 1988 — The petrol engine was upgraded to a 4.0 L 3F-E EFI engine. The FJ62G VX-Series was introduced allowing the Land Cruiser to be sold in Japan as a passenger vehicle. Toyota Land Cruiser post-facelift (US) 1981–1987 Toyota Land Cruiser (FJ60; Australia) 1987–1990 Toyota Land Cruiser (FJ62RG) GX (Australia)

#LEXUS RANKED HIGHEST FOR 5TH YEAR

Latest News Service Satisfaction Drives Loyalty Lexus ranks highest among luxury nameplates for a fifth consecutive year, and GMC ranks highest among mass-market nameplates, according to the J.D. Power and Associates 2013 Customer Service Index (CSI) Study. Among luxury brands, Cadillac, Jaguar, Acura, and Infiniti follow Lexus in the rankings. Among mass-market brands, Mini, Buick, Chevrolet, and Volkswagen follow GMC. The CSI Study measures customer satisfaction among vehicle owners who visit a dealership service department for maintenance or repair work during the first 3 years of ownership. Satisfaction is examined across five measures, listed in order of importance: service quality; service initiation; service advisor; service facility; and vehicle pick-up. Survey responses received from 91,000 owners and lessees of 2008 to 2012 model-year vehicles were included in the study. The 2013 CSI Study finds that manufacturer and dealer investments in improving the customer service experience are producing more highly satisfied and loyal service customers. In the 2013 CSI Study, customer satisfaction with service at a dealership increases 10 points to 797 (on a 1,000-point scale) from 787 in 2012. Moreover, dealer service facilities have expanded their lead in overall satisfaction, compared with independent service facilities, by 6 points, to a 44-point gap, despite service customers spending an average of $44 at independent facilities, compared with $118 at dealer service facilities. According to the study, 77 percent of customer visits to dealer service departments during the first 3 years of ownership are for vehicle maintenance, an increase from 72 percent last year and 63 percent in 2011. This shift in the proportion of maintenance work to repair work is one of the contributing factors to the increase in overall satisfaction. Analysis from the CSI Study shows that there is a direct correlation between service satisfaction and loyalty, with 79 percent of vehicle owners indicating that they "definitely will" return to their dealership for maintenance and repairs during the vehicle's warranty period. However, loyalty decreases after the vehicle warranty expires, with 64 percent of vehicle owners indicating they "definitely will" bring their vehicle back to the dealership for maintenance and repairs after the warranty expires. Among vehicle owners who say they are "delighted" (satisfaction score of 901 or better) with their dealer service experience, loyalty rates increase substantially, and 59 percent of "delighted" owners also say they will purchase or lease their next vehicle from the same brand.

#USED CAR PRICES FLAT

The first sign of a recession is used car prices read this article. NADA Sees Flat Prices Wholesale prices for used cars and light trucks up to 8-years-old rose a modest 0.8 percent in February, well below the 3 percent increase for the month over the past two years, says the NADA Used Car Guide in its March edition of Guidelines. Overall, used-vehicle prices have increased by 0.4 percent over the first two months of the year, significantly less than the 4.4 percent and 2.4 percent increases recorded over the same two-month period in 2011 and 2012, respectively. In addition, February's tepid performance dropped NADA's seasonally-adjusted used-vehicle prices index to 122.7, which is a decline of 1.4 percent from January's level and just 0.9 percent higher than February 2012's reading of 121.6. The index is a seasonally adjusted measurement of the change in price for used vehicles up to 8 years in age. Looking ahead, NADA expects that used-vehicle prices in March will be flat to up moderately compared to February, and decline in April. Tax refund season in the past has been a time of the year of used car prices rising and consumers spending more on motor vehicles.

WHOLESALE USED CAR PRICES DECLINE

Wholesale used vehicle prices fell both on a month-over-month and on a year-over-year basis in February. According to ADESA Analytical Services' monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class, wholesale used vehicle prices in February averaged $9,752 - down 2.8 percent compared to January and 1.2 percent relative to February 2012. The only segment that showed a month-over-month average price increase in February was mini SUVs, which showed a 1.9 percent rise. Prices for used vehicles remarketed by manufacturers were up 1 percent year-over-year, tapering considerably from last month's 7.7 percent year-over-year increase. Despite this tapering, off-rental program units are continuing to show price strength. Prices for fleet-lease consignors were flat year-over-year. Prices fell 4.5 percent year-over-year for dealer consignors. Prices were down on a month-over-mon

#CONSUMER REPORTS BEST CARS

Consumer Reports Names Best Used Cars To help consumers choose the best used car for their money, Consumer Reports compiled a Best & Worst Used Cars list for model years 2003 through 2012. The full report, available in Consumer Reports April Annual Auto issue and at ConsumerReports.org, highlights the best sedans, SUVs, and small cars available in four price ranges: from $10,000 or less up to $25,000. Each performed well in CR's testing when new and had above-average reliability for the model years shown, based on CR's annual auto survey. And all models came standard with electronic stability control (ESC), a proven lifesaver during the years indicated. The Consumer Reports worst used cars list includes 2003 to 2012 models that have had multiple years of much-worse-than-average overall reliability, according to CR's survey. Among the 20 models that made that list are the BMW 7 Series, the Ford Explorer (V6, 4WD), the Kia Sorento (V6), and the Mini Cooper S. Most gas/electric hybrid cars have shown superior reliability in the past decade. However, the Honda Civic Hybrid is an exception, according to the survey. Almost one in five owners of the 2009 model year Civic Hybrid needed a replacement battery in CR's 12-month survey period.

CARS.COM PICKS BEST CAR DEALS

Latest News Cars.com Picks Best Deals The editors at Cars.com released their list of the top 10 used cars that they recommend for shoppers who are looking to spend around $10,000. With a used car market that is sparser than it used to be, car shoppers have fewer options to choose from and higher prices to pay, but the Cars.com experts compiled a list of 10 used cars that will help shoppers get the best bang for their buck around the $10,000 price point. The winners are: 2006 Ford Escape: Ford's first generation crossover had trucklike styling but car-based underpinnings, and the driving experience combined handling and ride comfort in a way that few car-based crossovers of the Escape's era could match. 2008 Ford Focus: The Focus comes with safety features like side curtain airbags and also Bluetooth and USB/iPod integration, both of which were ahead of the curve for 2008. The car's sharp handling distinguished it from many rivals, and it is offered in three body styles, providing an option for everyone. 2007 Ford Freestyle: This budget-friendly family hauler comes with spacious seating for seven passengers and impressive cargo storage. 2007 Ford Fusion: A responsive V-6 engine option and decent handling chops distinguished Ford's midsize family car. So did trunk room, which remains spacious even by today's family-car standards. 2006 Honda Civic: The beloved eighth-generation Civic's interior quality, fuel efficiency and overall drivability impressed so much that they still hold up today. 2006 Hyundai Azera: A full-size sedan with upscale features, a big engine and big backseats, the Azera packed a comfortable ride. 2007 Hyundai Sonata: A family sedan with roominess, safety features and value in spades. Years later, a used example should still suit any shopper well. Find one with the optional 3.3-liter V-6 for muscular passing power. 2008 Kia Optima: A cousin to the Hyundai Sonata, the Optima had more available luxury features, but less styling and a smaller engine. However, a roomy backseat and decent standard safety features round out a car whose successor won Cars.com's Best of 2011 award. 2008 Nissan Versa: Nissan's unexpectedly roomy Versa slips into tight city parking spots like any proper subcompact should. A responsive transmission combined with a larger four-cylinder engine than most competitors' provides impressive power. 2007 Scion tC: Strengths included rich cabin materials and a responsive four-cylinder engine; look for the available five-speed manual for more fun.

#CAR DEALER CHARGED WITH MONEY LAUNDERING

Latest News Dealer Faces Money Laundering Charges A used-car dealer and two associates in Commerce City, Colo., were arrested for structuring and money laundering. Raul Mendoza, Julia Castillo-Caraveo, and Isidro Noe Mendoza-Ortiz, were named in a sealed indictment returned by a federal grand jury in Denver on Feb. 14. In addition to the three arrests, agents and officers executed search warrants at a residence and an automobile business. Twenty automobiles with clear titles from the car dealership were seized. According to the indictment, beginning in February 2008, and continuing through May 2012, Mendoza and Mendoza-Ortiz conspired with each other and others to structure currency by depositing transactions with the intent to evade the reporting requirements as required by law. Daily cash receipts from Mendozas business, Chopeque Auto Sales, were received at the business and structured into separate accounts at various banks to avoid the $10,000 reporting requirements. From Feb. 26, 2008 through May 29, 2012, they structured over 700 deposits totaling $4,543,714. As part of the conspiracy, on June 4, 2011, Mendoza, Mendoza-Ortiz and Caraveo knowingly caused Chopeque Auto Sales to fail to file a Federal IRS Form 8300, a report required by law for all currency transactions over $10,000 received by a business. Particularly, they sold a 2004 Dodge Ram 1500 in exchange for $10,500 that was represented by undercover law enforcement officers to be the proceeds of drug distribution and that they did so with the intent to conceal the nature of the proceeds of the specified unlawful activity and to avoid IRS Form 8300 reporting requirements. On March 8, 2012, Mendoza and Castillo-Caraveo followed a similar pattern and sold a 2008 Chevrolet Silverado 1500 in exchange for $20,900 that was represented by undercover law enforcement officers to be the proceeds of a drug distribution; no IRS From 8300 was filed. The defendants conspired to conceal the nature and source of the specified unlawful activity and attempted to launder drug proceeds. Particularly, Chopeque Auto Sales sold automobiles to known drug dealers, prepared false documents relating to the sale of vehicles to known drug dealers, structured currency deposits to conceal the source, falsely claimed to law enforcement authorities to be a valid lien holder of a seized vehicle in order to assist a known drug dealer in seeking the return of the vehicle. Upon conviction of the offenses above, they shall forfeit to the United States all of the defendants right, title and interest in all property, real or personal, involved in such offenses, or all proceeds traceable to such property, for which the defendants are joint and severally liable. Mendoza was charged with three counts of structuring and three counts of money laundering. Castillo-Caraveo was charged with two counts of structuring and three counts of money laundering. Mendoza-Ortiz was charged with two counts of structuring and two counts of money laundering. If convicted, each count of structuring and money laundering carries a penalty of not more than 10 years in federal prison, and a fine of up to $500,000. Agents with IRS-Criminal Investigation (IRS-CI), the Drug Enforcement Administration (DEA) and the Department of Homeland Security investigated this case. In addition, Denver Police Department, Commerce City Police Department, Thornton Police Department, and Department of Revenue Auto Industry Division assisted in the execution of the warrants.

BUY HERE PAY HERE LOTS STRONGEST MARKET SHARE

Latest News New Car Terms Hit High; Used Terms Flat Experian Automotive released data that shows average loan terms for a new vehicle in the fourth quarter jumped to an all-time high of 65 months, up from 63 months in the fourth quarter of 2011. Terms for used vehicles stayed flat at 60 months. Findings from the State of the Automotive Finance Market analysis showed that the average interest rate for new and used vehicle loans dropped in Q4, and average monthly payments dropped versus the same time period in Q4 2011. The report also showed that the average loan amount for a new vehicle was $26,691 in the fourth quarter, up $272 from the fourth quarter of 2011, while the average used vehicle loan was $17,629, up $239. However, while consumers are taking out larger loans, lower interest rates and longer loan terms for new vehicles helped bring down the average monthly payments. For example, the average interest rate for a new vehicle loan in the fourth quarter dropped to 4.36 percent, from 4.52 percent in the fourth quarter of 2011, while the average interest rate for a used vehicle loan dropped to 8.48 percent, from 8.67 percent. Additionally, the average monthly payment for a new vehicle dropped to $460 from $468. More consumers also were able to obtain financing in Q4, as average credit scores for both new and used vehicles dropped. For new vehicle loans, the average consumer credit score was 755 in Q4 2012, down six points from Q4 2011. For used vehicle loans, the average consumer credit score dropped to 665 in Q4 2012, down five points from Q4 2011. Automotive loans for new vehicles with terms from 73 to 84 months increased by 19.4 percent over the fourth quarter of 2011. New lease share of new financing increased to 24.79 percent, up from 10.45 percent. The total subprime market for all new vehicle financing increased to 24.77 percent, up from 22.59 percent in the fourth quarter of 2011. The total subprime market for all used vehicle financing increased to 55.4 percent, up from 53.58 percent. Buy-here, pay-here organizations and credit unions showed the strongest market share growth of 4.3 percent and 3.9 percent for overall automotive loans. Banks have the highest market share of automotive loans at 41.2 percent.

MISSOURI CAR DEALER CHARGED WITH ODOMETER FRAUD

Missouri Attorney General Chris Koster filed criminal charges against a Springfield, Mo., used-car dealer for misrepresenting the true mileage on two cars he sold. Ashley Bolton, owner of Excel Auto Group, is charged with two counts of unlawful merchandising practices. The attorney general's investigation revealed that in 2011 and 2012, Bolton misrepresented the actual mileage of vehicles being offered for sale by Excel to two different consumers. In one count, Bolton allegedly bought a car with more than 180,000 miles then sold it representing it had 99,000 miles. In the other case, Bolton bought a car with nearly 220,000 miles then sold it less than a month later with 119,000 miles. Unlawful merchandising practices is punishable by two to four years in the Department of Corrections, or up to one year in the county jail, and/or a fine up to $5,000 or double the amount the defendant gained from the commission of the crime, not to exceed $20,000. The Missouri Department of Revenue and the Office of Odometer Fraud in the National Highway Transportation Safety Administration assisted Koster's office in the investigation. The AG's office also has a civil investigation against Bolton underway. The charges were announced during National Consumer Protection Week. Attorney General Chris Koster announced he was using the event to highlight areas where consumers can protect themselves from scammers, including when purchasing a used car.

CARS SALES SAME EVEN WITH HIGHER TAXES

f Higher Taxes For the month of February, Kelley Blue Book analysts predict new-car sales will maintain the momentum from the previous three months and hit 15.3 million seasonally adjusted annual rate (SAAR), a 3.4 percent year-over-year improvement. Although shy of the 14 percent annual gain the auto industry experienced in January, sales should improve more than 7 percent after adjusting for the number of selling days in February. Although sales are expected to maintain a steady course in February, a recent Quick Poll among in-market car shoppers conducted by Kelley Blue Book 's Market Intelligence team indicates that many consumers are beginning to feel the pinch from the expiration of the 2 percent payroll tax holiday. When asked if the increase in the payroll tax impacted their new-vehicle purchase timeline, 39 percent indicated that they planned to delay their purchase, 28 percent responded that the tax increase didn't impact their purchase timeline in any way, while 27 percent indicated that they would reduce the amount they planned to spend on their next purchase.

IPHONES AND COMPUTERS OVER WHEELS

eNews Millennials Favor Phones over Wheels Zipcar, Inc. released the findings of an independent study of Millennials (18- to 34-year-olds), which examines the attitudes and behaviors of this generation related to urban transportation, technology and car ownership. Overall, the study found that the increasing availability of on-demand mobility services (such as car sharing, ride sharing and vehicle sharing) helps many Millennials drive less and makes it easier to for them to live without owning a car. The study, conducted in December by KRC Research, reveals that mobile devices and on-demand transportation apps are more important to Millennials than car ownership: Nearly two in three (65 percent) of Millennials say losing their phone (30 percent) or computer (35 percent) would have a greater negative impact on their daily routine than losing their car (28 percent). One in four Millennials (25 percent) say transportation apps have reduced their driving frequency, compared to less than 12 percent of those 45+. Considering how youth has changed over the years. The baby boomers saved their money and could not wait until their 16th birthday in order to drive. The new generation places the importance of wheels at the bottom of their lists.