Ever wonder what it costs you per year to drive a new vehicle? AAA said on average the sum comes to $8,469 a year or $706 a month. No big surprise here – The annual evaluation of driving costs reveals that small sedans are the least expensive vehicles to drive at $6,354 annually, however small SUVs ($7,606), hybrids ($7,687) and electric vehicles ($8,439) all offer lower-than-average driving costs to drivers. Conversely, of the nine categories included in the evaluation, pickup trucks are the most expensive vehicles to drive at $10,054 annually.
Bloomberg is reporting that Fiat Chrysler is considering spinning off Maserati and Alfa Romero into a stand-alone company. The company spun off Ferrari in 2016.
Ford has signed a memorandum of understanding with Anhui Zoyte Automobile of China. They will explore the possibility of a joint venture for the development, production, marketing and service of a new line of all-electric passenger vehicles in China. Zotye Auto was one of the first automakers to produce all-electric passenger vehicles in the country.
If the latest forecast from J.D. Power is correct, August new vehicle sales will dip to their lowest level so far this year. Despite elevated incentive levels, retail sales may be off nearly 350,000 units or 1.9 percent from August of 2016. But trucks will continue to be hot, Power said, accounting for 63.2 percent of new vehicle retail sales through August 20th. Automakers are hoping for a sales boost over the upcoming Labor Day weekend.
Edmunds.com doesn’t agree predicting that sales will actually increase this month, up 1.3 percent from August of 2016. “While any kind of sales lift after seven months of declines is encouraging, automakers still have a long road ahead to have a strong close to the year. It’s a small step in the right direction,” said Jessica Caldwell, executive director of industry analysis for Edmunds.