Day: March 5, 2021

Monthly car payments near $600 as SUV and truck sales surge: Experian

The average monthly car loan payments are on the rise, surging upwards of $600, as an increasing number of consumers switch back to financing new vehicles, according to Experian’s latest auto financing report.

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During the last three months of the 2020 fiscal year, consumers borrowed almost $2,000 more for new vehicles, spending on average $35,228, according to Experian’s State of the Automotive Finance Market report.

This pushed their monthly bill from about $13 to upwards of $576 during that period, according to Experian.

“The events of 2020 disrupted the automotive industry and we’ve seen some consumers shift away from patterns that have been cemented over previous quarters such as opting for used vehicles,” Experian senior director of automotive financial solutions Melinda Zabritski, said.

This change can be attributed

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Car seat foam shortage threatens to derail auto production, report says

2021 Chevrolet Trailblazer

You have to have seats to build a full car.


Chevrolet

Automakers continue to suffer through a semiconductor shortage, but there may be another issue brewing in the background: foam. Specifically, the foam that goes into millions of car seats we sit on every day when going for a drive. According to a report from Automotive News on Thursday, suppliers are “scrambling” to restart production following the devastating Texas winter storms last month.

The storms knocked power offline for millions of residents and produced water shortages statewide, and the state’s petrochemical plants didn’t go unscathed. Two sources spoke with the publication saying things are fine for now, but the problem may become serious in the coming weeks. One source cautioned this is a “threat” and not a “given,” depending on how the sector ramps up production again. But the semiconductor shortage has left automakers in a tough spot

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Automotive Guys

Car & Automotive,automotive industry,Car & Mechanical,Car & Classic,motorcycleMost of the adjustments occurring in the automotive market right now, together with tightened credit score markets in a capital-intensive business and increased government involvement are the most recent international challenges. A automobile dealership is one place to find a career within the automotive trade. Dealerships need many employees to function each day. Some people select a profession as a automotive salesman A salesman is responsible for serving to potential buyers find the fitting car for a price they will afford. Most car salesmen work on fee, and their paycheck amount varies depending on what number of vehicles they sell per week.

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