(Denver, CO) Aurora police are doubling up in patrol cars, and some parks are letting the grass grow. Like all cities, Aurora is looking for ways to save on fuel in the face of record prices.
Despite rising fuel costs, household bills and falling house prices, the British public are still enjoying purchasing and modifying their cars, with 153,420 new cars registered in July of 2008.
Motorists who modify their vehicles are said to be mostly 16-24 year olds who still live with their parents and are therefore not affected by rising prices and the tightening of credit to the same extent as those who own their own home. Popular modification gadgets at the moment, particularly for those with newer cars, include integrated satellite navigation systems that feature iPod playback. According to transportation groups, 60% of car owners carried out at least one vehicle modification in 2008, up from 57% in 2006.
Many expected the credit crunch to hit car dealerships hard, particularly with the cost of fuel currently being so high. Rather surprisingly, however, this has not been the case. Customers have been downsizing from four wheel drives and fuel burners to more efficient, eco friendly cars. Unfortunately, while there have been many enquiries from consumers regarding hybrid cars, very few car showrooms stock them, due to most petrol stations in the UK not being able to provide the necessary fuel. Business was brisk with fleet managers for the Honda Hybrid however, which was not only more fuel efficient but also benefitted from a substantial road fund tax discount.
The top end of the car market is also looking healthy despite the current economic instability. Sales of prestige and performance cars like the Bentley Continental and the £143,000 Ferrari 430 are up 2% in some areas while the Maserati Gran Turismo has seen its sales go up by 15%. The budget used car market remains active and is likely to continue forward, contradicting several reports that the used car market was suffering badly.
However, Price may well become an issue if economic conditions tighten, and if they do then the nearly new market is likely to see it first. Prices in the nearly new sector tend to be more volatile as volumes are lower and prices can be affected by activity in the new car market, where specific manufacturer activity, such as 0% finance, cash-back deals or no-cost specification upgrades can affect user demand for used cars.
Of course, people will always need to drive and will therefore always be on the look out for cars that take their fancy. While the credit crunch has limited the amount consumers can borrow from many financial institutions, car credit is still readily available and is continuing to assist many who are feeling the strain of the credit crunch.
Disclaimer: Matthew Pressman writes for a wide variety of commercial clients. This article is intended for information purposes only and readers should seek additional information before taking any actions based on its content.
General Motors has all but bet its future on the Chevrolet Volt plug-in hybrid it promises to have in showrooms by the end of 2010. To cover that bet, it's working with more than 30 utilities nationwide to ensure the nation's grid can handle an influx of cars that run on electricity.
Its partnership with the Electric Power Research Institute will address issues ranging from tax incentives for what promise to be pricey cars to guaranteeing drivers can charge them easily without sparking a citywide blackout. The idea, company officials say, is to lay the groundwork for what some at GM have called the "inevitable" electrification of the automobile.
“Together with EPRI and the utility companies, we can transform automotive transportation as we know it, and get our nation and the world past oil dependence,” Jon Lauckner, GM's vice president of global program management, said Monday night in announcing the partnership on the eve of the Plug-In 2008 conference in San Jose. “This group is taking significant steps toward making electric vehicles a reality."
The Electric Power Research Institute is a research and development arm for the utility industry and its members generate more than 90 percent of the nation's electricity. By getting in on the ground floor with General Motors -- and Ford, which forged a similar alliance in March -- the Institute can ensure plug-in hybrids and EVs work seamlessly with the nation's grid to one day replace petroleum as our dominant fuel.
"What we see right now is a major opportunity to put electric vehicles out there," said Mark Duvall of the EPRI. "Electric utilities are about to become the gas stations."
There are still a lot of hurdles to clear -- beyond making the cars affordable -- before that happens. The cars have to be designed so they can be recharged safely and easily and without taking down the neighborhood power substation. How quickly they're charged and at what voltage and amperage are just some of the issues to be worked out, said Britta Gross, a GM engineer leading the automaker's push to make sure we get the infrastructure needed to fuel the cars of tomorrow. (GM may be betting big on electrics, but it's hedging that bet by investing in cellulosic ethanol and pushing ahead with hydrogen fuel cell vehicles.)
Another big issue is developing the infrastructure to allow people to charge the vehicles in public. It isn't as if someone on the top floor of a New York high-rise can toss an extension cord out the window. Arshad Mansoor, vice-president of EPRI's power delivery and utilization sector, said the collaboration with GM is "critical" to addressing those issues and getting plug-in hybrids and EVs on the road in big numbers.
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