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GM CEO: EVs Under $40K Not Profitable Despite Sales
To combat the destructive effects of climate change, most national governments have vowed to ban the sale of internal combustion vehicles at some point in the 2030s. However, that goal is contingent on automakers producing affordable electric cars for everyone to purchase. General Motors CEO Mary Barra has stated that…
Millions of Kia Cars at Risk of Dangerous Airbags in Morning Shift
Good morning! It’s Thursday, June 1, 2023 and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know.
Record Numbers of Young People Defaulting on Auto Loans
A new report from the Federal Reserve Bank of New York shows that young Americans are late on paying their car loans at near record levels. In fact, loan delinquencies are at their highest rate since the Great Recession. Apparently, 4.6 percent of borrowers under 30 years old transitioned into serious auto loan…
Used Car Dealers Still Lie About Prices
The used car market is improving. While the predicted crash due to rising interest rates and a shaky economy never materialized buyers are starting to find pre-owned prices to be a bit more reasonable. Of course, when markets start to tip towards the buyers, dealers increase their level of nonsense to make an extra…
“Kias and Hyundais: America’s Most Stolen Cars”
Some Kia and Hyundai models are so incredibly easy to steal that insurance companies in some states are refusing to cover them. What started as almost a meme has become a crime wave hitting those who rely on the most affordable vehicles on the market to get around. So, just how did we get here?