Trucks are refinanced more than any other personal vehicle type on the road and driving higher monthly refinance savings ($89 on average in 2018 for truck owners versus $77 on average for car owners), according to a new RateGenius report.
The last decade of seemingly non-stop direct-to-consumer advertising and heavy investment into digital self-service technologies have driven roughly one-fourth of auto insurance customers to adopt direct distribution models that bypass agents in favor of do-it-yourself tools. According to the J.D. Power 2019 U.S. Auto Insurance Study, that transition has helped overall customer satisfaction with auto insurance providers reach its highest level ever.
Shoppers browsing the used car market right now might be pleasantly surprised by what they find, according to the latest Used Vehicle Report released by the car shopping experts at Edmunds. According to Edmunds analysts, a deluge of lightly used, lower-mileage vehicles are coming off lease and filling used car lots. Edmunds experts also note that these used vehicles reflect the body styles that shoppers want, namely trucks and SUVs, and carry far more standard features than they did five years ago.
“Up until a few years ago, wand-bay type car wash properties had declined and fallen out of favor with new investors as well as existing owner/operators. Now that the economy and car wash industry are growing again, this may be a good time to revisit the self-service business model, reports Cash Wash Magazine.”
Fact.MR has published a new study titled “Automotive Tire Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022”, which sheds light on the overall market scenario prevailing in the automotive tire sector. Based on this assessment, the automotive tire market is likely to register steady growth during the forecast period until 2022. Some of the prime facets motivating revenue growth in the global automotive tire market include enhanced tire performance, launch of innovative products and surging tire production.
“Miles driven in the U.S. have been rising annually, and with more rubber hitting the road, tire sales have benefited, particularly in the e-commerce channel. Online dollar sales of tires grew by 34% in the 12 months ending December 2018, according to The NPD Group’s Checkout E-commerce Tracking. The tire category alone outpaced e-commerce growth for the total market of automotive products, which was up 33% for the year.”
“Winter is tough on tires: Road conditions can be brutal, and temperature swings can often mean your tires have become badly deflated, says Consumer Reports. As spring emerges, potholes often blossom and create their own risks to your tires. That makes this a great time to spend a few minutes checking your tires and making pressure corrections as needed.”
LendingTree, the nation’s leading online loan marketplace, today released its study on auto debt by generation that found those between the ages of 39 and 54 shoulder the biggest load among its users, with nearly 60% of Gen Xers having an auto loan.
There’s no question that the automotive vertical fuels plenty of advertising spending in our economy. This year, according to BIA Advisory Services, the entire automotive vertical will spend at least $15.1 billion on local market advertising.
“The U.S. automotive aftermarket industry grew its retail sales by 2.5% in 2018, according to The NPD Group. In addition to favorable weather early in the year, this increase was fueled by the fundamentals of the industry being strong: More vehicles are on the road, the average age of vehicles is trending older, and the majority of consumers are unconcerned about higher gasoline prices.”
The Zebra, the nation’s leading car insurance search engine, released its 2019 State of Auto Insurance Report, which reveals that car insurance rates have risen for four out of five American drivers (83%) over the past year. In fact, rates across the U.S. are higher than they’ve ever been: Up 23% since 2011 with an average annual cost of $1,470.
We know that more motorcycle owners these days are women, and now we know increasing percentages of all owners are married and college graduates, and they’re generally older, according to the 2018 Motorcycle Industry Council Owner Survey.