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Michigan Lawmakers Try to Address High Insurance Costs Again...

Michigan Lawmakers Try to Address High Insurance Costs Again

It looks like Michigan’s drivers are about to be betrayed by their state legislature yet again. The latest attempt to fix the state’s imbecilic auto insurance fails to take any meaningful action to bring down the nation’s highest car premiums. A bill that would “reform” auto coverage in Michigan leaves the state’s no-fault insurance system, which makes it impossible for insurers to raise rates for bad drivers intact, The Detroit Free Press reported. To make matters worse, nothing is being done to curb the Michigan Catastrophic Claims Association (or MCCA), a bureaucracy that guarantees medical care for catastrophically injured accident victims for life. The MCCA is one of the...

RECENT FROM Car Insurance News

Allstate Increases Rates by 25%...

Allstate Increases Rates by 25%

Some drivers in Georgia will see a 25% insurance rate increase in the future. Allstate (NYSE: ALL). CBS News reported that the insurance giant is planning to increase rates for around half of its auto policyholders in the Peachtree State by 25%. A few Georgia drivers could face rate increases of up to 58%, CBS also reported. The rate increases went into effect on May 22, 2016; so some drivers could be paying the higher premiums this month. What is not clear is why auto insurance rates are going up in Georgia. The state’s insurance commissioner; Ralph Hudgens, commissioned an investigation by independent auditors but results are not yet available....

RECENT FROM Car Insurance Rates

Allstate Increases Rates by 25%...

Allstate Increases Rates by 25%

Some drivers in Georgia will see a 25% insurance rate increase in the future. Allstate (NYSE: ALL). CBS News reported that the insurance giant is planning to increase rates for around half of its auto policyholders in the Peachtree State by 25%. A few Georgia drivers could face rate increases of up to 58%, CBS also reported. The rate increases went into effect on May 22, 2016; so some drivers could be paying the higher premiums this month. What is not clear is why auto insurance rates are going up in Georgia. The state’s insurance commissioner; Ralph Hudgens, commissioned an investigation by independent auditors but results are not yet available....

Uber and Lyft Almost thrown out of Chicago...

Uber and Lyft almost got thrown out of America’s third largest city; Chicago. The app-based solutions dodged a major bullet; when the Windy City’s council rejected stricter regulations that would have driven them out of town. The Council voted 36 to 16 on June 23; to kill a plan that would have required networked transportation drivers to follow the same rules as cabbies, The Chicago Tribune reported. That would have required their drivers to attend classes, undergo background checks and get fingerprinted. Instead the council approved a watered-down deal; engineered by Mayor Rob Emanuel, preserves the status quo. The deal is controversial because Emanuel and other politicians worked it out behind closed doors at the last minute. Interestingly...

Uber and Lyft Almost thrown out of Chicago
posted on: Jun 28, 2016 | author: admin

Fiat-Chrysler Seeks Uber Deal

Fiat-Chrysler Automobiles (NYSE: FCAU) wants to partner with Uber on self-driving cars. Fiat wants to enter into a joint venture in order to get access to Uber’s self-driving car technology, Bloomberg reported. Uber is currently working with Ford (NYSE: F) on autonomous vehicles; but it is unclear if the two companies have a formal arrangement. The purpose of the venture would be to create a platform for a self-driving ride-sharing vehicle. Uber is currently developing such vehicles in Pittsburgh, where it has demonstrated autonomous Ford Fusions to the media. Fiat and Alphabet (NASDAQ: GOOG) entered into a partnership to create a self-driving minivan based on Chrysler’s Pacifica; and Dodge Grand Caravan, platform last month. It is not clear...

Fiat-Chrysler Seeks Uber Deal
posted on: Jun 20, 2016 | author: admin

Future Looks Bright for Electric Cars

A massive boom in the electric car business might be right around the corner. Two recent news stories indicate that the market for such vehicles might expand dramatically in recent years. Ford (NYSE: F) has discovered that getting internal combustion engines to comply with air-pollution and fuel-mileage regulations is much harder than previously thought. Around 40% of the new models of the popular F-150 pickup truck failed to meet federal standards for fuel mileage, Bloomberg reported. That’s a big problem for Ford because the F-150 is its best-selling vehicle in North America; accounting for 31% of its home market sales. To make matters worse it was the larger more powerful models customers like best that were more likely...

Future Looks Bright for Electric Cars
posted on: Jun 18, 2016 | author: admin

Google & Fiat-Chrysler Team up to Create a Self-Driving Van...

The next Google car will probably be a Dodge or Chrysler minivan. Reuters reported that Fiat Chrysler Automobiles (NYSE: FCAU) and Alphabet (NASDAQ: GOOG) have teamed up to develop a self-driving minivan. Chrysler manufactures some very popular vans including the Dodge Grand Caravan, the Chrysler Pacifica, the Ram Citymaster Pro and the Chrysler Town and Country. A group of Alphabet (NASDAQ: GOOGL) engineers has set up shop at a Chrysler engineering center in Southeastern Michigan. Alphabet has decided not to manufacture its own vehicles, but instead to share its technology with automakers. Fiat-Chrysler; which has fewer resources and more debt than other car companies has taken up the challenge. The experiment in Michigan will involve around 100 vans....

Google & Fiat-Chrysler Team up to Create a Self-Driving Van
posted on: Jun 14, 2016 | author: admin
Allstate Increases Rates by 25%

Allstate Increases Rates by 25%

posted on: Jun 12, 2016 | author: admin

Some drivers in Georgia will see a 25% insurance rate increase in the future. Allstate (NYSE: ALL). CBS News reported that the insurance giant is planning to increase rates for around half of its auto policyholders in the Peachtree State by 25%. A few Georgia drivers could face rate increases of up to 58%, CBS also reported. The rate increases went into effect on May 22, 2016; so some drivers could be paying the higher premiums this month. What is not clear is why auto insurance rates are going up in Georgia. The state’s insurance commissioner; Ralph Hudgens, commissioned an investigation by independent auditors but results are not yet available. Rate hikes from Allstate could be coming in other states, CBS reported. The company has not yet announced what those rate hikes will be. Allstate’s Revenues are down The real cause of the rate hikes might be found in Allstate’s...

Mysterious Electric Car Maker Poised to Enter Market

Mysterious Electric Car Maker Poised to Enter Market...

posted on: Jan 10, 2016 | author: admin

A company that could be a major new player in the electric car business is planning to build a massive new facility in Nevada. Faraday Future is planning to spend $1 billion to build an electric car factor at the Apex Industrial Park in North Las Vegas, Nev. Faraday, which gets most of its backing from Chinese TV mogul Jia Yueting, has received around $335 million in tax breaks from the state of Nevada. The Las Vegas Review Journal reported that Faraday wants to start building cars at a three million square foot factory in the Apex Industrial Park in the dusty Sin City suburb of North Las Vegas by 2017. Even though little is known about Faraday Future, Nevada’s legislature was willing to take a risk on the venture because of the state’s depressed economy. Officials, including Republican Governor Brian Sandoval, are desperate to lure jobs to the...

Ford launches Own Ride Sharing App

Ford launches Own Ride Sharing App

posted on: Dec 21, 2015 | author: admin

The Ford Motor Company (NYSE: F) wants a piece of Uber’s lucrative action. It is testing its own networked-transportation app called the Dynamic Shuttle. Buy Drones Online at DronesEtc.com The service is an app that lets customers summon a “shuttle” – the shuttle is a Ford Transit van. The difference between Ford’s service and Uber or Lyft is that the riders have to share the van, which would apparently be cheaper than an Uber ride and possibly safer. The company has been experimenting with the service in its hometown of Dearborn, Mich. for the past year, a press release indicates. The service is now being rolled out as a pilot project designed to test a platform for ride sharing. It sounds as if Ford might be planning to sell or lease the service, along with the vans. People would buy or lease a van from Ford, then use the...

Is Ford Really an Automotive Stock Bargain?

Is Ford Really an Automotive Stock Bargain?

posted on: Dec 16, 2015 | author: admin

The Ford Motor Company (NYSE: F) might just be the most undervalued company in America right now. On December 11, 2015, Ford was trading at $13.18 a share, yet it reported the following financial numbers: $145.18 billion in TTM revenues on September 30, 2015   A profit margin of 5%   A net income of $4.77 billion A dividend yield of 4.37%   A free cash flow of $4.63 billion A return on equity of 18.39%   Cash and short-term investments of $58.75 billion   $16.25 billion in cash from operations   The numbers make Ford sound like a classic value investment. It makes a lot of money, it is swimming in cash, and it is very cheap when compared to other carmakers. On December 11, 2015, Toyota Motor (NYSE: TM) was trading at $124.01 a share, General Motors (NYSE: GM) was trading at $34.87 a share, Honda Motor...

Porsche Plans to Spend $1.09 Billion to Develop Electric Sports Car

Porsche Plans to Spend $1.09 Billion to Develop Electric Sports Car...

posted on: Dec 9, 2015 | author: admin

Tesla Motors (NASDAQ: TSLA) now has some serious competition. Porsche, a subsidiary of Volkswagen (OTC: VKAY), plans to spend $1.09 billion (€1 billion) to bring its electric sports car, the Mission E, to market, our friends at Seeking Alpha reported. Porsche’s electric vehicle investment will include the construction of a $761.67 million (€700 million) electric vehicle factory in Stuttgart, a press release indicates. The plant will employ more than 1,000 people and include a new paint shop and assembly area. Porsche’s Tesla Killing Mission E This seems to verify the theory that Volkswagen will be a serious player in the electric car market and Tesla’s biggest competitor. If it lives up to the hype, the Mission E will rival or exceed the vaunted S series in performance. Its performance specifications are impressive, and they include: A power system that can handle 440 kilowatts of electricity. An acceleration rate of...

Electric Cars a Tough Sell to Car Dealers

Electric Cars a Tough Sell to Car Dealers

posted on: Dec 3, 2015 | author: admin

The biggest obstacle to a widespread adoption of electric cars in the United States could be auto dealers. Many dealers are refusing to sell electric vehicles, even ones from their brands, The New York Times reported. Strangely enough, some sales professionals were reluctant to push electrics even when motivated buyers showed up with checkbooks. A number of EV owners even told The Times that salespeople went out of their way to try to push gasoline or diesel cars they did not want on them. The dealers’ reluctance can be explained by several factors. A big one is the association of electrics with Elon Musk’s Tesla Motors (NASDAQ: TSLA). Musk has angered dealers by selling his vehicles through a network of branded stores rather than dealerships. That effectively cuts out the middleman and their profits. Why Auto Dealers Don’t Like Electric Vehicles Adopting a new technology is also very expensive....

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