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Archives for the Tag: Car

Does An Autonomous Future Mean Trouble For Insurance Companies

Posted by admin on February 9th, 2016 in Category Auto Industry, Blog News, Scrap Cars in Canada, Scrap Cars in the USA, Scrap Yard News, Uncategorized, World - Scrap News (no responses)

Autonomous driving opens possibilities of fewer accidents and increased safety, while that’s great for the drivers, it might not be quite so good for others.

Fewer accidents will, according to a recent report, turn the entire auto insurance industry on its head.

“We think that over the next 20 to 25 years, the number of accidents will fall by 80 percent,” said Jerry Albright, principal of actuarial and insurance risk practice at KPMG, the consulting firm that released the report. “From a consumer perspective, this is a very good thing. You’ll see improved safety, fewer deaths.”

At Progressive’s investor relations meeting in 2013, John Curtiss, the company’s auto products development chief, said the industry had grown 90 percent over the previous 30 years, mostly because more vehicles were on the road. More recently, Mr. Albright said that most insurance companies had problems turning a profit over the last six years and that the changes autonomous vehicles would bring were sure to make profitability more elusive.

At risk is the lifeblood of the industry — $200 billion in premiums that the insurers collect every year from policyholders, KPMG says.

According to KPMG’s report, the insurance industry could contract by as much as 60 percent by 2040 as accident damage payouts and premiums fall.

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The Quest To Park Automatically Is Not One That Comes Easily And Without Failure

Posted by admin on December 14th, 2015 in Category Auto Industry, Blog News, Scrap Cars in the USA, Scrap Yard News, Uncategorized, World - Scrap News (no responses)

MIAMI BEACH —Automotive technology progresses one step closer to autonomous driving with the start of creating a future where your car will park itself for you.

It seemed like the perfect nightlife accessory for the South Beach set — an automated robotic parking garage where trendy clubgoers could park their Porsches with a futuristic touch of a button.

Forget hiding your GPS and favorite Fendi sunglasses from a valet who might ding your new alloy wheels; this garage would park cars itself.

Instead, malfunctions lasted for hours. Cars were smashed, and faulty machinery fell several stories to the ground. Sometimes vehicles were stuck for so long that garage operators had to pay for customers’ taxis.

“It was clear that the garage was not ready to be open to the public,” said Russell Galbut, the managing principal at Crescent Heights, the property developer, which has sued two manufacturers over the botched garage.

While engineers aim to perfect self-driving cars, they still have a lot of work to do on another element of the idealized commute of the future: robotic parking. Designs differ, but most consist of a combination of automated ramps, slabs, lifts and shelves, using a computerized system that parks and delivers a car like a high-tech vending machine.

But the garage on Collins Avenue is one of two cutting-edge parking projects in South Florida that ended in spectacular debacles. At a luxury residential high-rise in downtown Miami, a $16 million robotic garage plagued with delays finally closed, leaving tenants paying $28 a day to park elsewhere. The police were called to keep order at the building, BrickellHouse.

And around the country, other attempts at self-parking garages have been caught in embarrassing software and hardware mishaps at a time when dozens of projects have been proposed or are underway.

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Is Volkswagens Offer Of Compensation An Act Of “Good Will” Or A Devil In Disguise

Posted by admin on November 17th, 2015 in Category Auto Industry, Blog News, Scrap Cars in the USA, Scrap Yard News, Uncategorized, World - Scrap News (no responses)

Volkswagen’s scandal continues to grow and grow as companies continue to look into the emissions tests.

Volkswagen is offering $500 in cash and $500 in VW dealer credit to owners of its diesel cars, a first step in compensating them in the wake of a global emissions-test cheating scandal.

The “goodwill package” is a stopgap measure while the automaker works on a way to fix the cars, which contain software designed to evade U.S. pollution regulations.

The automaker says customers don’t have to give up their right to sue the company — as thousands already are — but some attorneys are disputing that and warning customers not to sign an arbitration clause required to get the money.

It is a complete end run around the litigation that is in place,” said Amy Williams-Derry, an attorney with Keller Rohrback, one of the law firm’s pursuing class action litigation against the automaker. “They are trying to buy off plaintiffs who have already sued and consumers who would benefit from a class-action recovery.”

Some of the hundreds of cases already filed seek to have VW buy back the vehicles for the full price the customers originally paid.

To get the money, VW customers must visit www.vwdieselinfo.com, enter their Vehicle Identification Number, their mileage and contact information. They will also have to take their car to a dealer to activate the gift cards to prove that they own the vehicle.

Customers will also get access to a free 24-hour roadside assistance program for three years.

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Average Age Of US Cars Have Now Surpassed The Record

Posted by admin on July 29th, 2015 in Category Auto Industry, Blog News, Fun and Humor, Going Green, Green Cars, Scrap Cars in Canada, Scrap Cars in the USA, Scrap Yard News, Uncategorized, World - Scrap News (no responses)

The lifecycle of a car can depend on the maintenance as well as the family, s their a teenager who needs their own ride, or a family that needs more than one vehicle to drive to work. These factors can influence the amount of time a family keeps a car and the age of the car itself.

The average age of vehicles on the road in the U.S. is rising, even as consumers snap up more new ones — a paradox attributable to substantial increases in reliability.

The typical car on the road in the U.S. is a record-high 11.5 years old, according to a new IHS Automotive survey.

Yet Americans are buying cars at an annualized rate of more than 17 million vehicles, marking a high not seen since before the Great Recession. In fact, U.S. vehicle owners bought 42% more cars than they scrapped in 2014, according to IHS. The number of light vehicles registered in the U.S. hit an all-time high of 257.9 million units.

How are vehicles getting older, while Americans are buying newer cars, too?

Simple: They’re either keeping the old ones along with the new ones — know anyone who bought a new car and kept their old one in the driveway? — or the vehicle made its way into the used-car market, where someone else bought it..

“Vehicles are simply lasting longer than ever before,” Mark Seng, global aftermarket practice leader at IHS Automotive, told USA TODAY. “The consumer is hanging onto their vehicle longer than ever before.”

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Renting Out A House Sure, But Your New Car?

Posted by admin on June 20th, 2015 in Category Auto Industry, Blog News, Fun and Humor, Going Green, Green Cars, Scrap Cars in Canada, Scrap Cars in the USA, Scrap Yard News, Uncategorized, World - Scrap News (no responses)

In the past many people have rented out housing to young families and students as a way to invest. Recently there has been a suggestion to further this concept to renting out a vehicle that you have recently purchased.

Car manufacturers are desperately seeking new ways to increase sales, maximise financial returns and address the changing needs of new generations like the millennials, but urging people to rent our their own brand new cars stretches credulity and will fall on stony ground.

News this week that BMW’s Mini will offer buyers of its cars the chance to offset the purchase price by renting out their vehicles surely won’t find any takers. BMW itself has a similar scheme called DriveNow, which board member Peter Schwarzenbauer has said is based on the idea from accommodation sharing web site Airbnb. Ford and GM have also joined in.

Schemes that allow people who don’t own cars to rent by the hour make much sense. This allows the young, who either can’t afford to own a new car, or don’t need one very often, to get wheels for specific jobs. It also allows makers of electric cars which nobody wants to buy, to get them off dealer lots and earn some money.

If it was a scheme that allowed, say, students to rent out their old clunkers to generate enough cash to pay for running costs and then some, it might make some sense. But is there anyone in the history of the world who bought a brand new car – whether it’s a little runabout or an expensive limousine, that would ever let a stranger drive off in it? The fact that they could afford a new car in the first place means the financial incentive just isn’t there.

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Which Is More Important When Developing a Sports Car -Passion or Experience?

Posted by admin on April 8th, 2015 in Category Auto Industry, Blog News, Scrap Cars in Canada, Scrap Cars in the USA, Scrap Yard News, Uncategorized, World - Scrap News (no responses)

Doritos developed a successful campaign airing a winning commercial that an unknown producer created during the Super Bowl. Honda Motor Co. recently did the same thing. Five years later we get to see what Ryo Mukumoto has designed.

Ryo Mukumoto was 22 and into his third year making mock-ups at Honda’s research arm when he beat about 400 other entries in an in-house competition.

Honda made him the youngest lead engineer in the company’s history and gave him a young team to help translate his ideas into reality.

Mukumoto’s vision — a low-slung roadster inspired by a speeding bullet — goes on sale next month in the most competitive segment in Japan’s shrinking car market.

“People of my generation think cars are simply a tool for transportation,” Mukumoto, now 26, said in an interview in Wako City, Japan.

“I wanted them to say — hmm, this car is different,” he said. “We have made a car that will turn heads.”

The introduction of the S660 roadster, named for the 660-cc engine capacity limit that defines the mini car category unique in Japan, comes as Honda searches for a way out of record vehicle recalls and quality lapses.

The company has blamed these problems in part on an overly ambitious sales target that placed undue stress on its vaunted engineers.
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Classics of 2015 Already Predicted in Hagerty Hot List

Posted by admin on March 6th, 2015 in Category Auto Industry, Blog News, Fun and Humor, Going Green, Green Cars, Scrap Cars in Canada, Scrap Cars in the USA, Scrap Yard News, Uncategorized, World - Scrap News (no responses)

Here are cars that you can look forward to traveling with you through generation after generation.

Classic cars are made every year, and certain features make them to stand out from others. But what truly makes a car memorable and remarkable enough to stand out from others?

Hagerty Hotlist has truly begun to narrow down the possibilities.Now the predictions are never 100% accurate. But today’s generation will definitely enjoy the range and diversity of vehicles on the list, there’s something for every type of driver.

Want a taut Italian sports car? Try the Alfa Romeo 4C. Supercar performance straight out of Detroit (er, Bowling Green)?Corvette Z06. The perfect balance of practicality and hot-hatch fun? VW Golf R.

None of these are economy-car-cheap, but they all sticker at well below $100,000 (what you do with the options catalog is up to you). Park any one of these 10 cars in your garage, and we think you’ll be a happy customer.

And if it’s worth something in a quarter-century? Consider that a bonus.

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