Auto News for Dec. 30

Gas prices remain low and are likely to stay there according to Triple A. Today’s national average has ever so slightly edged up to $2.002 a gallon from $1.999 a few days ago. But a year ago, the auto club said the average was $2.273 a gallon. Today, California drivers are shelling out $2.846 a gallon much higher than the $1.929 I have seen here in Maryland.

In a short press release Bridgestone announced it will not present a counter offer to acquire Pep Boys and this morning, Carl Icahn’s company said it has entered into a definitive merger agreement to acquire the auto parts firm. Icahn recently increased his offer to $18.50 a share in cash or $1.50 a share more than Bridgestone’s last offer. That puts the Icahn offer at just over $1 billion for Manny, Moe, and Jack’s 800 outlets around the country. The agreement has been unanimously approved by the boards of each company, Icahn Enterprises said.

A total of 48 vehicles have met tougher criteria for 2016 to take home a TOP SAFETY PICK+ award from the Insurance Institute for Highway Safety. An additional 13 vehicles qualified for the second highest rating. “For the first time, a good rating in the challenging small overlap front crash test is a requirement to win, in addition to an available front crash prevention system,” said Adrian Lund, IIHS president. The insurance industry group cited improvements made to the Nissan Maxima, Volkswagen Passat, and Toyota’s Avalon and RAV4.

 

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