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  • 2015 BMW X6 Unveiled

    The BMW X6 might not be the prettiest or the most practical utility vehicle on the market, but BMW has sold more than 250,000 of its “Sports Activity Coupe” since 2008. Big sales mean that the X6 will be sticking around, and it also means that…

  • Roundup: All The GM Recalls Of 2014

    Need to catch up on all the recent GM recalls and verify what might affect your vehicle? General Motors has this past week released a table outlining its vehicle recalls so far in 2014, through May—including the much-covered ignition-switch-related…

  • Intel Inside (Your Autonomous Car)

    In 2007, Steve Jobs changed the world by introducing the iPhone. At the time, people thought, “This is fantastic! Apple has taken my phone, my iPod, and my Filofax, and wrapped them into one sleek little package!” But most folks failed to see the…

  • May 2014 Car Sales, Prices Continue To Rise As Loan Terms Lengthen

    So far, 2014 has been a good year for car sales, with monthly tallies showing growth at almost all major carmakers, and predictions sunny for summer. May’s car sales figures reflect a continuation of that trend, with many brands reporting their best… General Motors and Toyota report their best sales since 2008, while Ford Motor Company claimed its best month since 2005. Audi and Porsche had their best sales month ever in the U.S., while BMW reported its best May results ever. On top of the strong sales results, new car transaction prices rose 2 percent in May, according to Kelley Blue Book. Premium models are expected to drive further sales growth throughout 2014, according to JD Power and LMC Automotive. LMC Automotive’s senior vice president of forecasting, Jeff Schuster, said, “Nearly one-half of the new-model activity in 2014 will be premium vehicles, which is expected to create new competition for mainstream segments as premium price points cross into those of many non-premium  models.” Kelley Blue Book senior analyst Karl Brauer notes the role of premium vehicles in the market, saying, “Small and mid-size car share has declined slightly, as car shoppers opt for small and mid-size crossovers, helping boost this month’s average transaction price.” Supporting this increased appetite for more expensive, more premium vehicles is a trend toward longer loan terms in the automotive financing market. Experian Automotive reports the average loan term has reached a record high of 66 months, while loans with terms of 73-84 months grew 27.6 percent in the first quarter of 2014, accounting for 24.9 percent of all new vehicles loans issued. Likewise, the average amount financed is also at an all-time high of $27,162 through the first quarter, a rise of $964 from 2013.

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