Experian Automotive reported recently that in the first quarter, U.S. car buyers were willing to pay more per month for new light vehicles. They are also willing to finance more for more expensive vehicles. Loan terms and leasing also hit record highs, showing that consumers are more willing to extend themselves for higher end vehicles.
Finding greener ways to drive isn’t just about vehicles. Recently a couple in Idaho raised a record 1.5 million in croudsource funding through Indiegogo.com to fund their project to find a way to pave with solar cells rather than asphalt or concrete. The idea of creating enough energy through the roadways—enough to eliminate traditional
The focus now is on fuel efficiency, with the goal for 2025 being an industry wide average of 54.5 miles per gallon. The fastest way to get there, of course, is hybrid technology, but consumers aren’t jumping on board in high enough numbers yet, so automakers have to be creative when finding ways to save on fuel consumption.