Big

Used Car Values Poised For Big Drop

Image for article titled Used Car Values Are Poised For A Big Drop

Photo: Getty Images (Getty Images)

Negative equity looms for those with used car loans, there is a leadership shake-up at Ferrari, and Nikola. All that and more in The Morning Shift for December 21, 2021.

1st Gear: Used Cars

Used car prices have spiked for months because of low new car inventories, itself because of the chip shortage that has gripped the industry. This is not news, though the accounting firm KPMG said in a new report that prices have gotten so far out of whack that negative equity is now an issue, and likely will be in the future, too. Basically, if you took out a loan to buy a used car in the past year or so, you might owe more than your car is worth.

From Automotive News:

The used-car market has historically been closely correlated with the new-car market, KPMG global head

Read More

‘The Big Book of Tiny Cars’ Celebrates the Smallest Automobiles

Photo credit: Motorbooks

Photo credit: Motorbooks

“Hearst Magazines and Yahoo may earn commission or revenue on some items through the links below.”

Small cars are currently out of vogue. In a market dominated by ever-growing SUVs, major automakers like Ford, Fiat, VW, and Mercedes (through its hapless Smart subsidiary) are giving up on the category—at least in the U.S. market. Even Minis no longer live up to their name, with the smallest one cresting 3000 pounds. But once a car category departs the commonplace, interest tends to pick up among enthusiasts and collectors. How else to explain the current fascination with personal luxury coupes of the ’70s and ’80s?

To slake our growing thirst for subcompacts, British automotive writer Russell Hayes has written a new book about them, The Big Book of Tiny Cars: A Century of Diminutive Automotive Oddities (Motorbooks, $40), that will be available electronically on Nov. 30. The hardcover

Read More

‘The Big Book of Tiny Cars’ Celebrates the Smallest Automobiles

Photo credit: Motorbooks

Photo credit: Motorbooks

“Hearst Magazines and Yahoo may earn commission or revenue on some items through the links below.”

Small cars are currently out of vogue. In a market dominated by ever-growing SUVs, major automakers like Ford, Fiat, VW, and Mercedes (through its hapless Smart subsidiary) are giving up on the category—at least in the U.S. market. Even Minis no longer live up to their name, with the smallest one cresting 3000 pounds. But once a car category departs the commonplace, interest tends to pick up among enthusiasts and collectors. How else to explain the current fascination with personal luxury coupes of the ’70s and ’80s?

To slake our growing thirst for subcompacts, British automotive writer Russell Hayes has written a new book about them, The Big Book of Tiny Cars: A Century of Diminutive Automotive Oddities (Motorbooks, $40), that will be available electronically on Nov. 30. The hardcover

Read More

Here’s why GM’s electric vehicle push is a big risk

General Motors‘ aspiration to stop selling fuel-burning cars by 2035 could put a big dent in its overall market share if it doesn’t considerably boost sales, some auto industry analysts think.

While electric cars are in vogue, and companies like Tesla command share prices that could make a legacy automaker envious, automotive insiders continue to voice concerns over how ready the world is to fully shift to electric vehicles. Firms that survey car buyers frequently say many still worry about vehicle range and charging times, for example.

GM, the largest U.S. automaker, said its plan to eliminate tailpipe emissions by 2035 is a goal and not a guarantee. Nevertheless, it is making a big push into pure electric vehicles, as more than 30 new models are expected by 2025.

GM’s plan does not include hybrids, which blend internal combustion engines with electric power, and which many see as

Read More