'Auto Trends' Talks About Consumer New Car Purchasing Behavior Post Pandemic And The New Tariffs

Auto Analyst Tom Libby  (Photo Credit: S&P)

Tom Libby, a Detroit-based auto analyst, who serves as S&P Global Mobility director of loyalty, talks to Auto Trends with JeffCars.com, a syndicated multicultural automotive radio program about the latest car-buying trends.

Being that this is the five-year anniversary of the Covid-10 pandemic, Libby analyzes the shift in consumer purchasing behavior with new vehicles throughout that period, as well as the average transaction prices. 

'Auto Trends' Kicks Off Black History Month With A Former Rainbow PUSH Automotive Activist: Where Do We Go From Here?

Change agent Glenda Gill (Photo Credit: GG)

Over the past week or so since Trump took office, he has been issuing out nonstop signed executive orders from The White House and Mar-a-Lago like a level 5 tornado tearing through an urban area during a busy workday.

As expected, there have been some immediate casualties, non-life threating injuries, uprooting, angst and mental frustration. Overall, as expected, there has been pure chaos and confusion.

'Auto Trends' Discusses How The Trump Presidency Will Impact The Auto Industry

Tesla Vehicles (Photo Credit: Tesla)

As a result of the November 6, 2024, Presidential election results, Auto Trends with JeffCars.com, the only syndicated multicultural automotive program in North America, will take a look ahead as to how the auto industry and car buyers will be impacted.

'Auto Trends' Talks To Bloomberg Intelligence About New Vehicle Affordability And More

Bloomberg Intelligence Global Director of Automotive Research Kevin Tynan

For car buyers who have been out of the market since the pandemic, they might be somewhat alarmed when price shopping for a vehicle. The question everyone seems to be asking is when will new car prices begin to slide in reverse. This week on Auto Trends with JeffCars.com, Bloomberg Intelligence's Kevin Tynan, who is also known as a senior auto analyst, joins us to recap the first quarter sales, while discussing vehicle affordability. 

After a C-Suite Toyota executive announced in 2023 that the average price of a new vehicle would top $50,000, we'll deliberate about where average transaction prices are currently in 2024, as we examine non luxury, luxury and fully electric vehicle prices, as compared to 2021, when consumer demand outstripped inventory.

Auto Analyst Kevin Tynan Talks To 'Auto Trends' About The Current State Of The Car-Buying Market

Kevin Tynan is a senior auto analyst at Bloomberg Intelligence. (Photo Credit: BI)

This week on Auto Trends with JeffCars.com, a multicultural syndicated automotive program, we delve into both the new and used car buying markets, sharing what consumers should anticipate paying.

Kevin Tynan, a Bloomberg Intelligence senior auto analyst and a regular contributor to the program, examines everything from new vehicle leasing and its impact on the future of used car pricing to the vehicle segment consumers can expect healthy discounts, after the average transaction price (ATP) maxed out at $67,000 in 2022.

Tynan will also briefly share his perspective on the UAW strike. 

J.D. Power Talks About The Latest 2023 Model Year Quality Drop And More With 'Auto Trends'

J.D. Power's Frank Hanley (photo credit: JDP)

 

JD Power's Frank Hanley, the senior director of automotive benchmarking, joins Auto Trends with JeffCars.com, talking about the latest quality study, analyzing the 2023 model year vehicles. 

We'll discuss some of the winners, losers and what's driving the rise in problems. Moreover, we'll reveal how EVs compared to traditional internal combustion engines. With the average transaction price of a new vehicle, nearing a record-breaking $50,000, car buyers are expecting their automobiles to be problem free. However, Hanley reveals that's just not the case. In fact, this year models quality slid backwards, when compared to the 2022 model year vehicles.

'Auto Trends' Talks To ALG Who Determines A Vehicle's Worth On The Used Car Market In 3 Years

Eric Lyman, the vice president of ALG, which was formerly known as Automotive Lease Guide, joins Auto Trends with JeffCars.com for the first time. ALG, which is literally the benchmark in terms of setting residual values for the industry, is a division of J.D. Power. 

With so much mystery behind the world of residuals, Lyman will be teaching a master class on how his company establishes for automakers, dealers and rental car companies what their vehicles will be worth in 3 years, when it's resold on the used car market. 

Cox Automotive Talks Average Transaction Prices And More On 'Auto Trends'

 

2022 Jeep Grand Wagoneer

We go one on one with Mark Schimer, who is a Detroit-based director at Cox Automotive, talking about the day supply and the average transaction price consumers should expect to pay for many of today's vehicles. 

To tune in to SiriusXM and our FM radio outlets, click here.

The Test Drive: How To Stay In The Driver's Seat

 

The test drive is more than getting behind the wheel and interacting with the salesperson, who could also serve as a distraction from being engaged with listening to the vehicle.

Here are a few tips we recommend, before, during and after the test drive.

1. Examine the vehicle. Look on top of the vehicle. Pop the hood. Open the trunk. Close and open all of the doors. If its a minivan, make sure all of the doors slide open and close. Look and listen for anything that seems out of the ordinary. Do you notice any leaks? If you're buying new, make sure there are no dents or dings on the vehicle.

Auto Analysts From Detroit And New York Recap 2020 Sales And More, While Talking To 'Auto Trends'

This week our trusted auto analysts Katelyn Drake of LMC Automotive and Kevin Tynan of Bloomberg Intelligence join 'Auto Trends' to discuss a number of consumer driven topics related to the auto industry, as we recap 2020 new vehicle sales and preview 2021.

The Insurance Institute for Highway Safety (IIHS) And Consumer Reports Recommends These Cars For Teen Drivers

 

2014 Mazda3

For the first time, the Insurance Institute for Highway Safety (IIHS) and Consumer Reports have

Insurance Institute for Highway Safety And AAA Talks To 'Auto Trends'

 

This week IIHS (Insurance Institute for HIghway Safety (IIHS) and AAA joins us. To view the schedule, click here.

2019 Toyota RAV4 Limited AWD: No Longer Resting On One's Laurels

Highlight: The RAV4 is the first American-based Toyota vehicle to have access to a digital rearview mirror. The dual purpose rearview mirror operates like a traditional mirror, deflecting glare, while also providing access through increasing the field of view, showing directly what’s behind the vehicle too.

Test Vehicles MSRP: $39,429 (Base MSRP: $26,745)

Seating Capacity: 5

Automakers Offer Special New and Used Car Incentives for Grads

Whether you've completed trade school, finished a nursing program, completed an apprenticeship certification training program or earned a bachelor and/or graduate degree, most automakers want to reward you for going the extra mile. Many are offering special interest rates, relaxed credit stipulations, deferred payments, extra cash rebates, special non-negotiable pricing and complimentary roadside assistance on the purchase or the lease of a new or pre-owned vehicle. In fact, the cash rebates can be used on top of other incentives, and some automakers may even overlook charge-offs less than $1,000.

Latest Trend: A Record 7 Million Customers At Least 90 Days Late On Car Payment

• The New York Fed said there were over a million more “troubled borrowers” at the end of 2018 than there were in 2010, when unemployment hit 10 percent and the auto loan delinquency rate peaked. Today, unemployment is 4 percent, and many more Americans have jobs, yet a significant number of people cannot pay their car loan.

• Most of the people who are behind on their bills have low credit scores and are under age 30, suggesting young people are having a difficult time paying for their cars and their student loans at the same time.

(source: Mercury News)

Kia Presents Black History Month with Fortson's 'Auto Trends' to High School Students

Peterson taking a moment to pose with students at Proviso High.

Students encapsulated with the Kia Niro after spending time with Kia University and car designer Brian Peterson.

A student documents her life changing school day.

Kia Honors Black History Month At Chicago Area High School

Car Designer Brian Peterson (left) and Proviso West Principal Abdullah (center) 

Car Designer Brian Peterson speaking to the students of Proviso West.

A student sketching vehicles during a STEM class being conducted by Kia University.

Ten Steps to Getting the Best Auto Loan

According to a study that was released in January 2014, black and Latino consumers continue to pay more when financing a vehicle. The key to driving the best deal home, as it relates to financing is to have a keen understanding of the credit process and what your credit can purchase. As of 2001, “The Consumer Credit Score Disclosure Act” now provides all consumers access to their credit/FICO (Fair Isaac Corporation) score. With all of the tools available today, there is no need to remain in the back seat as an uninformed consumer.

To make sure you remain in the driver's seat, when securing a loan.....

1. Access your credit score and report. By accessing your credit score and report via the credit reporting agencies, this will not affect your score. If you allow your lenders to access your credit report and score, this could affect your credit score.

2. Review and analyze your credit report for accuracy.

3. If there are inaccurate items on your credit report, this could affect your credit score, the interest rate you’re assigned and/or decrease your chances of being approved for a loan. The higher the credit score, the better chance you have of receiving a lower interest rate.

4. If there is inaccurate information on your credit report, take the appropriate steps provided by the credit reporting source to resolve any concern. Make sure you provide appropriate documentation to resolve your concern.