Gas Prices Up Slightly Over Labor Day Weekend: Irene To Blame?
If you're packing the coolers, the picnic blankets, and the rooftop carrier—and heading out on the road over the Labor Day holiday weekend, be glad that you're not paying even more at the pump.
Hurricane Irene—in addition to wreaking havoc on much of the Northeast—affected some refineries this past weekend, but it didn't cause any lasting refinery issues—or immediate price hikes.
There will likely be some impact—but not a significant impact—on pump prices. A few refinery outages on the East Coast—including large Sunoco and ConocoPhillips facilities—were running at reduced rates; on the other hand, a report released today showed that U.S. crude supplies unexpectedly increased this past week—leading to prices below $88 a barrel, and at least a few early predictions that fuel prices could follow a downward trend this fall.
Pump prices up slightly, though not due to Irene
In any case, while pump prices are considerably higher than last Labor Day, it's too early to pin any smaller rises on Hurricane Irene. As of Monday morning, the Energy Information Administration (EIA) national-average price of a gallon of regular gas was about $3.61—up nearly a couple cents from week-before levels, and reversing a downward trend that had sustained through August.
The EIA data was gathered Monday, so it reflects any immediate post-hurricane price increases. According to GasBuddy.com, national-average prices have risen to about $3.63 as of 8/31; that's up about five cents from August 22—days prior to Irene—when pump prices, which had been gradually falling, started on an upswing. However GasBuddy doesn't show East Coast price hikes to be disproportionate with those of the rest of the country.
Nevertheless, it appears that pump prices will be closing the month at a slightly lower price (about ten cents lower) than at the beginning of the month.
Families feeling the travel costs
Transportation and fuel costs were already expected to make up the largest share of holiday-weekend spending, according to the AAA. Families are expected to drive an average 608 miles over the Labor Day holiday weekend—calculating out to about $88 for a vehicle that averages 25 miles per gallon. That distance is only slightly less than last year, but at that time pump prices were only around $2.70 per gallon.
And according to the AAA prediction issued last week, before Hurricane Irene, fewer Americans will be traveling this holiday weekend, though about a half-percent more will take to the highways. But the fuel increases might prove enough of a difference, perhaps, for families to balk on smaller items like eating out, recreation permits, or park admission.
Economists are undoubtedly keeping an eye on gas prices, as if they rise appreciably again they could affect consumer spending and further delay economic growth.
This story originally appeared at The Car Connection
Dick Cheney Opposed The GM Bailout
In the closing days of the Bush administration, then-president Bush made the decision to grant General Motors a $13.4-billion loan to keep the company afloat, at least through the transition to the Obama administration. The decision wasn’t a popular one with then-vice-president Dick Cheney, who says in his new memoir that he’d been “philosophically opposed to bailing out specific companies or industries” throughout his career.
Those industries didn’t include banking, since Cheney supported the $700 billion Troubled Asset Relief Program (which, ironically, also included automakers GM and Chrysler under its umbrella). In defense of his position on TARP, Cheney stated that providing enough support to keep the banking system afloat was something that “only the federal government could do,” whether or not the bail out was a good idea.
Supporters of the bailout, including former president Bush, continue to cite the frail economy as the primary reason behind issuing the loans. Bush maintains that failure of the Big Three automakers could have cost more than one million jobs, and would have had a huge impact on both Gross Domestic Product and tax revenues. Cheney failed to address any of these points in his memoir.
Right or wrong, the cost of the bailout to the American public is increasing. Earlier this summer, the Treasury Department estimated that losses from the bailout of GM and Chrysler would total $13.91 billion, but it now looks like that number will grow by another $400 million to reach $14.33 billion. That's still less than the projections of a $16 billion loss that were circulating earlier this year, but not by much.
[The Detroit News]
This story originally appeared at The Car Connection
Older Drivers Using Computer Keys To Keep Car Keys
Parents of driver’s ed students quickly learn that, apart from mounting anxiety of their kids being licensed to drive, the learning experience is far different today. Driving simulators are the norm, and rickety film projectors no longer show film strip shockers like Mechanized Death or Wheels of Tragedy.
They might also be surprised to learn their own parents are back in the classroom.
Not that the two generations are studying the rules of the road side by side. For the elders, it’s often a virtual classroom, led online by organizations like AAA and AARP. The former claims enrollment gains of about 20% each of the last few years. The latter’s attendance topped 60,000 in 2010 and is on pace for another strong year, citing 40,000 by July. Whereas teens go through the paces to earn driving privileges, their grandparents are doing it to retain them--or at least pay less to do so.
Nearly 30 states already mandate seniors take extra steps to remain licensed. Usually, it means renewing and road testing more often, and online courses are one way to cram for the exam. Insurance carriers may extend discounts to graduates as well, further justifying the courses’ nominal cost (about $20, give or take). And let’s not forget the intrinsic value of personal responsibility, sharpening skills that dull naturally with age.
Critics have no qualms with refresher lessons. Where they take exception is the notion--and in some cases, the subtle promotion--of online courses negating the need for instructional wheel time; what comes as common sense and is easily answered on a laptop at home doesn’t necessarily translate to greater safety on the road. Studies by Quebec’s University Laval suggest online driving courses may have more perceived benefits than real ones, and that seniors should still practice actual driving with professional instruction for the greatest benefit.
Considering AAA’s estimate that one of every five drivers in 2030 will be at least 65, proponents and critics agree online courses do hold value for seniors. What should complement that training remains disputed. For now anyway, the gory old driver’s ed films can probably stay in the archives.
[AAA, AARP and SmartMoney.com]
This story originally appeared at The Car Connection
Houston Joins L.A. In Removing Red Light Cameras
The citizens of Houston, Texas, have spoken through their elected officials, and red-light cameras within the Houston city limits are now a thing of the past. Houston’s city council voted last week to shut down the cameras, despite the threat of a $25 million lawsuit from camera system provider American Traffic Solutions (ATS).Houston’s mayor, Annise Parker, called the $25 million in damages sought by ATS “ludicrous,” and declared it illegal for the city to operate the cameras. While they were legal, they were also profitable, raising some $44 million in revenue for Houston between 2006 and 2011.
Houston joins Los Angeles in opposing the cameras, as L.A. deactivated their red-light cameras (also from ATS) at the end of July. Payment of outstanding tickets issued by the Los Angeles red-light cameras is considered voluntary, with no penalties or repercussions for non-payment.
New York City, on the other hand, can’t get enough of the devices. In a recent press interview, New York mayor Michael Bloomberg advised reporters that there would be a red-light camera on every corner if he had his way. Given that New York City raised some $52 million in revenue from red-light cameras last year, its no surprise why the mayor is a strong proponent of systems.
Whether or not the cameras have an effect on driver behavior is the subject of some debate, with camera opponents and fans both claiming data to support their position. Nationally, 69 percent of Americans are in favor of red-light cameras, but our own impromptu surveys seem to indicate otherwise. This much is clear, regardless of your position: the cameras are as much about generating revenue for municipalities as they are about traffic safety and law enforcement.
[The New York Times]
This story originally appeared at The Car Connection
2012 Hyundai Veloster Pricing, Configurator Now Online
Hyundai’s fresh interpretation on the hatchback, the 2012 Hyundai Veloster, won’t hit dealers for a few months yet. If you’re eager to see how the Veloster stacks up when you begin adding option packages, Hyundai now has its Veloster configurator online.
With a starting price of $18,060 (including a destination charge of $760), the Veloster is priced to compete against the Volkswagen Golf, the Mazda3 and the MINI Cooper. Loaded up with every available option, the Veloster still won’t hit the $24,000 mark, and that includes premium accessories like a navigation system unavailable on most competitive models. Hyundai has found success with the “more content for less money” model, and we don’t see that changing any time soon.
Those looking for a hot hatch version of the Veloster will be disappointed, at least for now. The first model to launch will come with the same 138-horsepower, 1.6-liter engine used in the 2012 Hyundai Accent, and it will be offered with either a six-speed manual transmission or a six-speed dual-clutch automatic. There’s no turbocharged version (yet, at least), and a sport suspension is not on the list of available options; that leads us to believe that Hyundai has other Veloster-related announcements to make in the near future, but that’s just our hunch.
Even in base trim, the Veloster gives you a lot of content for the money. All Veloster models come with a full array of safety features (including traction control, stability control, anti-lock brakes and six airbags), 17-inch alloy wheels, a seven-inch touchscreen infotainment system, steering wheel mounted controls, Bluetooth phone integration and Hyundai’s Blue Link telematics system.
A $2,000 Style package adds 18-inch wheels, a panoramic sunroof, an upgraded interior with a premium audio system and fog lights. Opt for the $2,000 Tech package (which requires you to buy the Style package first) and you’ll get unique 18-inch wheels, a rear parking sensor system, a navigation system with rearview camera, keyless entry and push button starting.
This story originally appeared at The Car Connection
2012 Toyota Camry Shaping Up To Have Highest American Content
The most American vehicle for 2012 probably isn't going to be a Ford, or General Motors product, or even a Chrysler or Jeep. It's most likely going to be the 2012 Toyota Camry.
That's according to the federal government's annual U.S./Canadian parts-content figures, as posted on new-car window stickers and required by the American Automobile Labeling Act (AALA).
According to Toyota, the gasoline version will have a market-leading 92-percent North American-sourced parts. Content for the 2012 Toyota Camry Hybrid—with its Japan-sourced battery pack and drive components—will be 59. But since the window-sticker percentages are calculated on a 'carline' basis, that still calculates to an estimated combined AALA figure of 89 percent for the 2012 Camry lineup.
Although the location of final assembly doesn't affect a vehicle's North American content figure, all four-cylinder and V-6 Camry models will be built at Georgetown, Kentucky, or Lafayette, Indiana (beside the Subaru Legacy and Outback); but Hybrids will be built either in Japan or in Georgetown
For 2011, the Camry has an official American parts content of 80 percent. It's topped only by the Chrysler 200 (81 percent), Dodge Grand Caravan (82%), Dodge Avenger (83%), Dodge Dakota (84%), and Ford Explorer (85%). The government lists the Ford Explorer Sport Trac as having the highest American parts content, at 90 percent, but that model was discontinued at the start of the model year.
The AALA figures are calculated mainly through the assessed value of individual vehicle parts, and their country of origin. They've been widely criticized for years, as they give foreign automakers with captive suppliers an added boost. Automakers might assemble modules of foreign parts, for example, with the resulting modules considered a North American part.
Meanwhile, those who preach buying American tend to argue that what matters most isn't always the parts percentage, but that any profit from your purchase goes back to the home corporate office—in another country. Yet for those whose local and state economies have been affected positively by U.S. plants run by foreign automakers, it's hard to argue they aren't doing a lot of good, too.
Stay tuned. We'll bring you the 2012 AALA figures—and the final word on the Camry's 'most American' status later in the model year.
This story originally appeared at The Car Connection
Cadillac Escalade: A Magnet For Thieves, Report Insurers
The Cadillac Escalade is perhaps a little too successful in its mission of flaunting wealth.
Cadillac's big SUV is a magnet for thieves; it has ten times the overall theft losses of the typical 2008 to 2010 model-year vehicle, and it's more than six times as likely to be targeted by thieves.
These new figures come from the Highway Loss Data Institute (HLDI), a companion organization to the Insurance Institute for Highway Safety (IIHS). The ratings are comprehensive, and the totals include both claims from the theft of parts or items on or inside the vehicle as well as claims from theft of the vehicle itself. Data is gathered from a range of insurers that represent about 80 percent of the industry for private-vehicle insurance.
Within the Escalade lineup, the Cadillac Escalade EXT, a variant of the Escalade with a pickup bed, ranked worst this year. For every 1,000 EXTs insured over a full year, insurers are likely to manage 14 theft claims.
The Escalade doesn't only rate high for overall losses and number of thefts; on its own it has one of the highest average losses per claim—a surprisingly high $10,555 per theft. So figured out in terms of overall (average) theft loss per vehicle, it's about $114 per Escalade—a whopper for insurance companies, and a figure bound to increase your rates, no matter where you park or drive.
This sure isn't the first time that the Escalade has topped the charts; although next to last year's average figure of $146 for the 2007-2009 Escalade, there's some evidence that thieves are perhaps moving on to other glamorous targets.
By class of vehicle, pickups are most often targeted by thieves; they cost insurers $24 per vehicle year in theft, on average, versus $9 for cars and $12 for SUVs.
The commercial-duty Ford F-250, F-350, and F-450 Crew Cab truck models, as well as the Chevrolet Silverado 1500, Chevrolet Avalanche, and GMC Sierra 1500 light-duty trucks, also stand out for their high average loss payment—probably because work tools or equipment are likely to be kept in these rigs. Likewise, the GMC Yukon—which has an Escalade-like Yukon Denali model—is also way more likely than average to be targeted by thieves.
Among cars, the Chrysler 300 is has one of the highest claim frequencies—if you have the Hemi engine. The Dodge Charger Hemi and Nissan Maxima follow.
Both the Mercury Mariner and Audi A6 ranked lowest for claim frequencies. But while thefts might be low for the A6, when they happen they're pricey—an average $16,882 according to the HLDI. Likewise, the BMW 5-Series (xDrive) cost an average of $12,200 in claims per theft. Both of these German sedans averaged a low $8 in overall theft losses, though—not enough along to cause a spike in their premiums.
Click the image below to see the HLDI's full list of 2008-2010 passenger vehicles with the highest insurance theft claims.
[HLDI]
This story originally appeared at The Car Connection
Volkswagen Announces $1 Million Gift To MLK Memorial Foundation
As the nation prepares to commemorate the Washington, D.C. Martin Luther King, Jr. National Memorial, Volkswagen Group of America has announced a gift of $1,000,000 to the Martin Luther King, Jr. National Memorial Project Foundation, which is responsible for the memorial's construction and upkeep.
In doing so, Volkswagen joins a very long list of heavyweight donors to the National Memorial Project Foundation. At the top: GM Foundation, which has given $10,000,000 and was one of the organization's first major supporters. (Regular readers might remember GM's massive reading project associated with the memorial, which ran earlier this year.) Ford and Toyota have contributed, too -- to the tune of $2,000,000 each. Hyundai's gift sits on par with VW's at $1,000,000, and Honda offered $500,000 in support. (For a complete list of major donors, click here.)
This is a great move for Volkswagen and equally good news for the Martin Luther King, Jr. National Memorial Project Foundation. The Foundation will receive much-needed cash to help meet its $120,000,000 fundraising goal, and Volkswagen will get not just recognition, but a boost to its local community, too. (VW's U.S. division is perhaps best known for its manufacturing facilities in Tennessee, but the Volkswagen Group of America headquarters are located in the Washington, D.C. area -- specifically in Fairfax County, Virginia. That's not insignificant: corporations are far more prone to fund nonprofit organizations situated near corporate headquarters to improve the community.)
We admit, the timing of Volkswagen's gift is a little weird, since it comes during the 11th hour leading up to the Memorial's commemoration on Sunday. But then, VW's a corporation in need of publicity -- and really, what foundation worth its executive director is going to stare a $1,000,000 gift horse in the mouth?
[Volkswagen]
This story originally appeared at The Car Connection
2012 Toyota Tacoma Video Hits The Web
The 2012 Toyota Tacoma will bow later this year with a mild facelift that incorporates some of the automaker's newest infotainment technology.
The Tacoma was spotted on Web video this morning by PickupTrucks.com, which reports the unofficial video reveals the first details of the lightly restyled truck, Toyota's mid-size pickup and the smaller sibling to the massive Tundra full-sizer. The video can be seen via the links below.
Toyota hasn't confirmed that this is the new Tacoma, but earlier this year the company did confirm to TheCarConnection that a new Tacoma would arrive in the fall, and would feature Entune, a SYNC-like system that lets drivers control their smartphones through dash or voice controls. The system is also planned for the Toyota Prius V wagon, also due to arrive later this year.
PickupTrucks says an on-sale date of October is in the works for the Tacoma, which also is moving from its former production base in Fremont, Calif., to a plant in Mexico. The Fremont plant was sold to upstart electric-car maker Tesla last year, and it's planned to be the home of Model S production.
We'll have more on the new Tacoma as details are confirmed.
[Toyota Tacoma from Bonch on Vimeo; PickupTrucks]This story originally appeared at The Car Connection
Car Show Host Adam Carolla To Gays: ‘Shut Up, You’re Ruining My Life’
You might think that being the host of a high-profile TV show would cause a performer to watch his mouth.
You'd be wrong.
At least in the case of Adam Carolla, the comedian who is also one of the hosts of "The Car Show," which launched in July on Speed TV.
In his most recent podcast, using the tongue-in-cheek Internet campaign to have Sesame Street's Bert and Ernie get married, Carolla embarked on a foul-mouthed and abusive rant against gay, lesbian, and transgendered people.
He even named names, going so far as target Cher's son Chaz Bono (born Chastity) specifically.
Confusingly, he claimed LGBTQ people are "ruining his life" and commanded all of them to "shut up."
It could almost bring to mind the famous quote, "The lady doth protest too much, methinks."
We've editing out the NSFW parts of his rant, of which there are quite a few. Read here for some of the uglier, more graphic language.
Needless to say, protest and pushback arrived immediately.
Carolla then tweeted a half-hearted non-apology, saying, "I’m sorry my comments were hurtful. That being said, I’m a comedian, not a politician."
And there it stands.
But the GayWheels blog (republished by Jalopnik) raises an interesting question: Could the backlash over Carolla's anti-gay rant damage, or even kill, "The Car Show"?
As certain other public figures have learned at their peril, propounding venomous anti-gay slurs on air tends to scare advertisers. We're lookin' at you, Dr. Laura. And, more recently, Tracy Morgan.
Let's be clear: We draw a clear distinction between a polite statement of principles (e.g. "I personally don't agree with same-sex marriage, but I recognize that others feel differently") and the kind of potty-mouth teen bigotry that Carolla engaged in.
So we'd like to get your views on two related questions. First, do you think "The Car Show" will suffer from Carolla's comments? And, second, should his comments in a personal webcast affect the show?
Leave us your thoughts in the Comments below. We're confident you'll keep it polite and family-friendly.
This story originally appeared at The Car Connection
