So many of the everyday items that we use are now made in China, from our underpants to our computer monitors, but one thing that companies hadn’t yet exported from China to the United States were cars. Yet. A Chinese automaker is entering the U.S. car market, but as an existing familiar brand. Volvo will export 1,500 Inscription sedans made in China. [More]
When we last heard of a Irv Gordon of Long Island, N.Y. and his 1966 Volvo P1800S last summer, he was on the road toward setting a Guinness Book of World Records for the most miles by a single driver in one vehicle. We’d now like to congratulate him on hitting the three million mile mark and nabbing that record last week [pause for applause]. [More]
Forget those million milers flying around in airplanes, sitting back and letting the pilots do all the work — we’re pretty amazed that one man has had the time and desire to drive not one million, not just two million, but almost three million miles in the last 46 years in a single car. He and his trusty 1966 Volvo are only 34,000 miles from crossing the three-million mile threshold together. That’s a lot of road trips. [More]
If you bought or leased a new car in the Toyota family from Jan 1, 2001 to April 30, 2003, you could get some cash in a new class action lawsuit. The lawsuit alleges a conspiracy between Toyota Motor Sales, U.S.A. and the Canadian Automobile Dealer’s Association (CADA) to keep Canadian car exports out of the states and raise prices for American consumers. [More]
They always say that cars are the worst investment, since they almost always depreciate in value. But Ford Motor Co. learned the hard way that this holds true for car companies as well. They bought Volvo for $6.45 billion in 1999, only to sell it 11 years later for $1.8 billion. [More]
Ford has reached a deal to sell Volvo to Zhejiang Geely, a Chinese company that first started making cars just 11 years ago. The terms of the deal weren’t announced, but Ford’s take is estimated to be about $2 billion, a far cry from the $6 billion the company paid to buy Volvo in 1999. [More]
$2 Billion For Volvo? Ford Motor Co. may get $1 billion to $2 billion for its Volvo Cars unit, less than a third of what it paid 10 years ago. Yeowch. [Bloomberg]
Consumer Reports has put together a list of the quickest depreciating new cars so that you bargain hunters can snatch up a lightly used car for a good price. In case you weren’t aware, new cars take a big hit in depreciation in the first few years of ownership — a smart buyer lets someone else pay that “new car” tax.
Consumer Reports just did a study about car brand perceptions, so we thought we’d compare the top 10 most highly perceived brands to their list of the most reliable car brands.
Reader M writes:
Researchers have figured out a way to hack remote keyless car entry devices. The threat to the consumer is minimal, it takes several hours to crack the code, but it does give one pause, especially considering that if the Keeloq’s manufacturer added a few simple measures they could render the exploit nearly useless.
Everyone knows that women are a menace to our automotive society. When they aren’t swerving at 100mph through school crossing zones, their eyes firmly rooted to the vanity mirror which they are using to apply a smear of pink bubble gum lipstick, they are driving down the highway with both hands off the wheel, using one to hold a cell phone to the side of their ditzy heads and scream “You go, girlfriend!” while the other makes air snaps.