Car Dealers Ramp Up Discounts, Driving Down Average Sale Prices in January

Increasing Discounts Lead to Lower Vehicle Prices

In an effort to boost sales at the start of 2024, car dealers have been progressively increasing discounts, which has led to a notable decrease in the average transaction prices (ATP) for new vehicles in January. The industry saw an average price of $47,401, down by 2.6% from December and 3.5% lower than January 2023. Erin Keating, executive analyst at Cox Auto, remarked that this trend has been developing over the past six months, with automakers enhancing deals to maintain sales momentum.

 New Car Prices Fall 3.5% In January, Luxury Models And Large SUVs Impacted Most

Divergent Trends Among Automakers

Despite the general downward trend, some automakers saw an increase in their ATPs. Subaru reported a marginal rise of 0.2%, while Toyota’s prices went up by 2.9%. Stellantis, Hyundai Motor Group, and Mazda saw increases of 3.3%, 3.9%, and 5%, respectively. Conversely, Tesla experienced the most significant drop, with ATPs plummeting over 20% from the previous year. This drastic decrease highlights the volatile nature of pricing within the electric vehicle market.

Sector-Specific Impacts and Consumer Incentives

The re-introduction of incentives and discounts has been a critical strategy for attracting buyers, especially after the supply shortages during the pandemic led to increased prices and fewer deals. In January, the average incentive was 5.7% of the vehicle’s selling price, a substantial rise from the previous year’s 2.8%. Although small pickups, full-size SUVs, and minivans saw less significant discounts due to high demand, luxury vehicle segments experienced weakened demand, with ATPs falling by 9.7% overall. The luxury compact SUVs were particularly hard hit, seeing a price reduction of 11.9% year-over-year.

This adjustment in pricing and incentives is indicative of a market that is rapidly evolving to meet new consumer expectations and economic realities. As discounts become more widespread, the automotive industry may see further fluctuations in buying patterns and pricing strategies.

Toyota’s Strategic Edge in the Electric Vehicle Market Could Surpass Tesla

Toyota’s Diverse Approach in the EV Sector

Toyota is charting a unique course in the electric vehicle (EV) market with a dual focus on hybrid models and the development of solid-state batteries, presenting a robust challenge to Tesla’s dominance. While Tesla has been a frontrunner in the EV industry due to its innovative technologies and high market valuation, Toyota’s approach could offer a more sustainable investment opportunity. The company’s investment in both hybrid technology and advanced battery solutions positions it well to cater to a broader market, potentially leading to a greater upside for investors.

Financial Performance and Market Dynamics

Despite Tesla’s impressive revenue and earnings growth, Toyota’s financials remain significantly stronger, with revenue and earnings approximately three times larger than Tesla’s over the last fiscal year. However, Tesla’s market capitalization far exceeds that of Toyota, illustrating the market’s high expectations from the electric car giant. The performance of Tesla’s stock has been notably volatile, with dramatic gains and significant drawdowns, reflecting the high-risk, high-reward nature of investing in such innovative technologies.

The Hybrid Advantage and Future Battery Innovations

Toyota’s strategic emphasis on hybrids as a transitional technology offers a practical alternative to consumers not yet ready to fully commit to EVs. This approach not only meets immediate consumer needs but also positions Toyota as a leader in efficiency and environmental responsibility. Looking forward, Toyota’s leadership in developing solid-state batteries could revolutionize the industry by providing safer, more efficient, and faster-charging batteries, potentially setting a new standard in the EV market.

Toyota’s methodical strategy in expanding its hybrid offerings and advancing battery technology demonstrates a pragmatic approach to the evolving automotive landscape. This diversified strategy not only mitigates the risks associated with the nascent EV market but also enhances Toyota’s potential to lead the next wave of automotive innovation, challenging Tesla’s current market stronghold.

Comprehensive Guide to Long-Distance Vehicle Shipping: Top Choices and Advice for 2024

Shipping your vehicle across a long distance can be daunting, but this guide will help you through each step.

1. Choose Your Transportation Method

When deciding how to ship your car, you have the option of open carrier or enclosed carrier transport. Open carrier transport, which involves using an open trailer, is usually more budget-friendly. On the other hand, enclosed carrier transport, though pricier, offers better protection against weather and road debris, making it ideal for valuable or classic cars.

Consider if you prefer door-to-door service or terminal-to-terminal transport. Door-to-door service means the driver picks up and delivers your car as close to your address as possible. Terminal-to-terminal transport might be more affordable but requires you to drop off and collect your car at specified locations, which might not be provided by all companies.

If you’re in a hurry, you might want to look into expedited shipping, although this option will cost more. Keep in mind that while companies can often guarantee pickup dates, delivery dates can be less predictable due to various factors.

2. Collect Car Shipping Quotes

Transporting a car over a long distance is typically more expensive than shorter distances. Request free quotes online from several providers to find the most competitive rates, and decide whether to work with a broker or use an online marketplace. Many car shipping companies offer instant quote tools or calculators, making it straightforward to compare costs.

3. Select a Provider and Book Your Transport

Once you’ve decided on a provider, proceed with booking your transport. If using a broker, they will post your bid and find a carrier for you. If you choose an online marketplace, you’ll select a bid and communicate directly with the shipping carrier.

4. Prepare Your Car for Shipping

Before shipping, thoroughly document your vehicle’s condition. Note any existing scratches, dents, or mechanical issues, and ensure the gas tank is only a quarter full. Remove all personal items to reduce weight and the risk of theft.

5. Drop Off Your Vehicle

Meet the car hauler at the agreed drop-off location. Record any pre-existing damage on the bill of lading and sign the receipt for transport. Afterward, your car will be loaded and prepared for shipment.

6. Receive Your Vehicle

Your car will be delivered to your doorstep or a designated terminal. Carefully inspect it for any damage that might have occurred during transit. If everything is satisfactory, sign the bill of lading again to confirm safe delivery.

During the shipping process, you can stay informed about your vehicle’s status by contacting the company. Some companies offer GPS tracking services, while others provide updates manually.

Dodge Charger EV May Have 1,000 Horsepower

I am now officially confused. I was absolutely certain that the Banshee trim of the Dodge Charger Daytona EV would come in at 880 horsepower. But I may have been wrong. That beast may be churning out closer to 1,000 ponies. And this time, I’m getting my info from a leak in Italy.

Let’s back up a bit. Dodge shocked the world when it announced it was killing the V8 Charger to make room for an “eMuscle” lineup. It is working on a Charger to introduce in late 2024 which will have both hybrid gasoline and fully electric powertrains. I suspect the gasoline Chargers will share the new Ram truck’s turbocharged I6 which makes up to 520 horsepower. But Dodge’s true Hellcat replacements will be electric.

As part of its electric vehicle plan, Stellantis revealed that the new Charger will ride on the shared “STLA Large” chassis. The electric version of this chassis is AWD, with capacity for one engine at both ends of the vehicle. So far so good. Stellantis has also revealed that it has three levels of electric motors. The smallest makes up to 93 horsepower. The largest tops out at 440 horsepower.

Why 440 horsepower? I suspect Dodge requested Stellantis build that motor. Not only is 440 an important number to Dodge muscle cars (both a historic engine size and trim level), but so is 880. The “Custom 880” was a full-size Dodge built from 1962-65. And Dodge is leaning on old names to make its EV transition seem more legit. It’s first prototype is the Dodge Charger Daytona for goodness-sake.

What’s more, 880 puts the new Banshee trim of Dodge’s EVs comfortably ahead of the 808-horsepower “Redeye” tune of the Hellcat V8. Obviously, with maximum torque at zero rpm and AWD, a humble 600 horsepower EV would be able to put a lot more power down on a drag strip than a Hellcat. But hey, a higher number still makes for good marketing.

Green fender of an Alfa Romeo Giulia Quadrifoglio trim sedan
2024 Alfa Romeo Giulia Quadrifoglio Badge | Stellantis

I thought I had it all figured out. But hey, you know what they say about assuming, and making a donkey out of you and me both.

In a 2023 Top Gear interview, Alfa Romeo CEO Jean-Philippe Imparato let slip that the Quadrifoglio trim of the Giulia EV would make 1,000 horsepower. Here’s the kicker: the Giulia is the Charger’s Stellantis cousin and they’ll be sharing that “STLA Large” platform. What the hey?

I see several possibilities. I suppose Stellantis could be planning to make a more powerful Alfa Romeo Giulia than anything Dodge builds. But I can’t believe that’s true. Our second option is that Imparato was making up numbers. Perhaps he saw the Tesla Model S Plaid makes 1,020 horsepower and hopes this claim will push Stellantis to one-up it. But if you read the whole interview, it seems he has a plan and knows it well.

That leaves us with a third possibility: All the top-trim STLA Large EVs will have 1,000 horsepower and Imparato just inadvertently revealed the max horsepower number Dodge has been so tight-lipped about.

The STLA Large EV chassis that underpins the Jeep Wagoneer S
STLA Large EV Chassis | Stellantis

How will Stellantis pull this off? I suppose they could be working on a much more powerful electric motor. But Imparato said something else interesting: the mid-trim Giulia will make 800 horsepower. My money is on a tri-motor chassis that’s been kept under tight wraps. The two-motor Charger and Giulia EVs will make 800 and the Banshee/Quadrifoglio trim will take a page out of the Model S Plaid’s book and have two motors at the back. And this makes some sense: if Dodge is going electric, it will want to show up even Tesla.

Shouldn’t three 440-horsepower motors make a bit more than 1,000 horsepower? That depends on how much electricity it can put out to three motors simultaneously. It may truly top out at 1,000 ponies. Alternatively, Stellantis may just under rate this thing, having rightfully decided that 1,000 horses is plenty.

So there you have it: a pretty good chance the Dodge Charger Daytona EV claims 1,000 horsepower. But until Dodge announces it for sure, I’ll be the last to assume anything.

Top Car Insurance Providers in California for 2024: A Comprehensive Review

Not all companies are covered in our rate estimates, and some insurance providers may rank differently from their star ratings. This variation is because our ratings reflect nationwide factors, while our rankings focus specifically on the best car insurance options for California residents.


#1 Geico Insurance: Ideal for Basic Coverage

Full Coverage Auto Insurance Cost: $147 per month, $1,758 per year
Minimum Liability Auto Insurance Cost: $40 per month, $482 per year
California Customer Service Rating: 830/1,000
Claims Satisfaction Rating: 871/1,000

Geico stands as one of the largest auto insurers in the U.S., boasting over $38 billion in premiums in 2022, according to the National Association of Insurance Commissioners (NAIC). Known for its competitive rates, Geico offers some of the lowest premiums in California, making it an excellent choice for basic coverage. With an A+ rating from the Better Business Bureau (BBB) and strong scores from J.D. Power’s 2023 Auto Insurance Study, Geico is a reliable option for cost-effective car insurance.


#2 State Farm Insurance: Best Overall Coverage

Full Coverage Auto Insurance Cost: $216 per month, $2,586 per year
Minimum Liability Auto Insurance Cost: $67 per month, $805 per year
California Customer Service Rating: 826/1,000
Claims Satisfaction Rating: 891/1,000

State Farm excels in offering comprehensive coverage with benefits tailored for young drivers and students, including the Steer Clear® program that promotes safe driving. Its high liability coverage limits, up to 500/500/500, exceed California’s minimum requirements, providing extensive protection. Additional features include rental car coverage, roadside assistance, and rideshare insurance, making State Farm a well-rounded choice.


#3 Farmers Insurance: Top for Coverage Options

Full Coverage Auto Insurance Cost: $180 per month, $2,163 per year
Minimum Liability Auto Insurance Cost: $59 per month, $712 per year
California Customer Service Rating: 810/1,000
Claims Satisfaction Rating: 878/1,000

Farmers Insurance, a long-established player in the auto insurance market, offers extensive add-on options like new car replacement and accident forgiveness. It provides numerous discounts for students, homeowners, and those with clean driving records. These flexible coverage options make Farmers a strong contender for those seeking comprehensive, customizable insurance.


#4 Liberty Mutual Insurance: Best for Customization

Full Coverage Auto Insurance Cost: Not Available
Minimum Liability Auto Insurance Cost: Not Available
California Customer Service Rating: Not Ranked
Claims Satisfaction Rating: 866/1,000

Liberty Mutual stands out for its flexibility and diverse discount opportunities, particularly beneficial for teens and military personnel. Discounts are available for multiple vehicles, vehicles with advanced safety features, and connections through alumni or professional groups. Though specific cost data is unavailable, the variety of customizable options makes Liberty Mutual a valuable choice for personalized coverage.


#5 Allstate Insurance: Best for Personal Service

Full Coverage Auto Insurance Cost: $204 per month, $2,450 per year
Minimum Liability Auto Insurance Cost: $64 per month, $765 per year
California Customer Service Rating: 816/1,000
Claims Satisfaction Rating: 882/1,000

Allstate differentiates itself with a network of local agents, ideal for those who value face-to-face service. With an A+ rating from AM Best and the BBB, Allstate ensures reliable financial strength and customer satisfaction. Discounts for bundling with home or renters insurance further enhance its appeal, making Allstate a strong option for those seeking personalized, in-person support.

Is Ryan Gosling’s ‘The Fall Guy’ More Than Just a Car Movie?

The trailer for The Fall Guy showcases numerous thrilling car chases, but there’s a unique twist to this film. Featuring Ryan Gosling and Emily Blunt, the movie is helmed by David Leitch, known for his high-octane action films like John Wick and Fast & Furious: Hobbs & Shaw. While the trailer’s adrenaline-pumping scenes hint at a car-centric plot, the movie actually revolves around the behind-the-scenes drama of creating a car film, blending real-world chases with a meta twist about Hollywood stunts.

Ryan Gosling and Emily Blunt in “The Fall Guy” | Universal Studios via YouTube

Director David Leitch, renowned for his action-comedy expertise, collaborates with Gosling, whose comedic talent shines in every role. In The Fall Guy, Gosling portrays a stuntman working on a sci-fi film who also gets entangled in the film’s romantic and action-packed narrative. The film includes futuristic races and impressive stunt sequences, featuring a Hummer EV camera crane and a Dodge Challenger in high-speed scenes, though it cleverly avoids damaging classic vehicles, like the 1981 GMC K-2500 Wideside showcased in the film.

Ryan Gosling in “The Fall Guy” | Universal via YouTube

Clarkson, Hammond, and May Take on the Sahara in ‘The Grand Tour: Sand Job’

The iconic trio from The Grand Tour is back with what might be their most exhilarating special yet. In The Grand Tour: Sand Job, Jeremy Clarkson, Richard Hammond, and James May transform three cabriolets into rally-ready machines for a daring Dakar-style adventure across the Sahara. Despite Clarkson’s earlier statement about retiring from car shows, the team is embracing the challenge with a lineup of sleek convertibles, aiming to tackle the harsh conditions of Mauritania at a fraction of the cost of a high-end Lamborghini.

Richard Hammond, James May, and Jeremy Clarkson attempt a river crossing with a van in The Grand Tour: Sand Job.
Richard Hammond, James May, and Jeremy Clarkson attempt a river crossing | Amazon Prime

In this special, Clarkson opts for a Jaguar F-Type, Hammond takes on an Aston Martin DB9, and May drives a Maserati GranCabrio, each one modified for off-road endurance. As they traverse treacherous landscapes and face extreme temperatures, viewers are treated to a mix of humor and high-stakes action. From battling unforgiving terrain to navigating through disease-ridden areas, the special promises to deliver the trademark excitement and camaraderie fans have come to love, even as Clarkson hints at it being his last hurrah in this format.

Why the Subaru Forester and Outback Outshine the Toyota RAV4 in Reliability

 

When considering vehicle reliability, Toyota often stands out as a top contender, but two Subaru SUVs actually surpass the Toyota RAV4. The 2024 Subaru Forester and 2024 Subaru Outback both achieve higher reliability ratings compared to the RAV4. According to iSeeCars, the Outback leads with a reliability score of 8.8 out of 10, followed closely by the Forester at 8.6, while the RAV4 trails behind with an 8.4 score.

In terms of durability, the Subaru Outback boasts an impressive lifespan, often reaching between 250,000 and 300,000 miles, and even surpassing 350,000 miles with diligent maintenance. The Forester is also known for its longevity, typically lasting 200,000 to 250,000 miles, with some models exceeding 500,000 miles. Meanwhile, the RAV4 generally offers 200,000 to 250,000 miles of service, which is competitive but slightly lower compared to its Subaru counterparts.

Why the Lexus UX300e Sports Luxury Will Captivate Loyal Fans

 

The Lexus UX300e Sports Luxury is the fully electric variant of Lexus’s compact SUV, now boasting impressive enhancements. The range has been significantly increased from 305 kilometers to 440 kilometers, thanks to a new 72.8 kWh battery—a 34% boost. Despite this, the electric version maintains a low profile, with only subtle badging distinguishing it from its petrol counterparts.

The new infotainment system now has a touchscreen rather than the previous, fiddly, controller.

Priced at $88,490 plus on-road costs for the Sports Luxury model, and $8,500 less for the Luxury variant, this new model sees a 10% price hike from 2023. It retains its classic oversized grille, although its fast-charging capabilities are limited to a 50 kW CHAdeMO plug, taking around 80 minutes to charge from 10% to 80%. For home charging, the UX300e uses a Type 2 plug, requiring about 9.5 hours for a full charge.

Appearances are deceptive: the UX300e Sports Luxury SUV is larger than it looks.

For dedicated Lexus enthusiasts ready to transition to electric, the UX300e offers a quiet, smooth ride with luxurious features, including a new touchscreen infotainment system and a 7 kW wall charger. However, those seeking superior range and performance might find better options elsewhere.