For the people who are collecting vintage cars, here is one you should check out. A 1964 Ford Mustang convertible has been spotted at eBay and is up for auction. Considered an icon since it broke into the automotive scene, this is believed to be one of the very first Mustangs produced and sold to the public 45 years ago. The asking price for this well-maintained 1964 Mustang is $5.5 million a price that only car addicts are bound to afford.

(Source) Bornrich

Tags: 45 years, 5 million, asking price, auction, eBay, Ford, ford mustang, ford mustang convertible, mustangs, vintage cars

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As far as car ownership is concerned, consumers barely pay attention the frequency at which they own a car. This will vary and normally age and financial capacity to own one comes into mind. Thanks to studies shared by Tescocompare.com, we find some glaring facts such as the average age of owning a car at 24 and others averaging 9 cars owned in their lifetime.

Calculations by Tescocompare.com, the financial search engine, have revealed drivers own an average of 9 cars each during a lifetime – and of those 9 cars, the first two will be purchased before we’re 24, with this figure rising to six cars by the time we reach 40. However, not everyone conforms to this trend with one in five (19%) motorists across the UK displaying extreme car ownership trends. 1 million drivers own 20 or more cars over their driving career, whereas for 5.5 million drivers, 1 car throughout their driving lifetime is simply enough.

Additional Facts:

• Half (50%) of car owners say unreliability is a key factor and would lead them to change their vehicle if this became an issue
• A desire for something better (26%), or coming into money (26%) are the second most popular triggers to changing cars
• Older drivers seem more content with what they’ve got with only 22% of over 55yrs saying they’d change cars ‘if they see something better’, compared to more than double (47%) the amount of 18-24yr olds
• Whilst changing a car simply as a matter of course (18%), because of servicing costs (22%) or for family reasons (16%) impact on car ownership trends, only a small number of drivers (14%) are influenced by a car’s ‘green’ credentials

(Source) Press

Tags: 1 million, 5 million, car owners, car ownership, change cars, consumers, credentials, desire, extreme car, financial search engine, lifetime, money, motorists, older drivers, ownership patterns, ownership trends, owning a car, press car, s green

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The need is there and the forecasts are being made. As far as the needs of electric cars, charging stations are bound to be the next demand in the motoring industry, something that has already started but is way off from covering the needs of the projected number of electric cars expected to be out in the market.

As far as the Pike Research is concerned, there will be over 5 million charging stations up, obviously foreseeing the major influx of electric cars running around in the streets by then.

“While electric vehicles will be primarily charged at home, a strong funding push by governments will mean that more than half of all charge points will be public charging stations by 2015,” says industry analyst John Gartner. “Retailers will also install public access stations primarily as a marketing tool, and many companies will also offer workplace charging stations for their employees.”

Indeed, people can satisfy themselves for now with a one-time charge. But the next question is up to where can they go? Most electric cars today have a specified mileage depending on the charging capacity and unlike fueled cars, charging stations just in case of extended road trips is obviously lacking. Then again, who knows if they will be that plenty come 2015? We can only wait and see.

(Source) Press

Tags: 5 million, electric cars, electric vehicle, electric vehicles, fueled cars, gartner, governments, industry analyst, influx, marketing tool, mileage, public access, road trips, time charge

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This is really nothing new. With the current economic crisis, practically all businesses are covered. So with that said, the auto dealership is included. While many of the car dealerships are trying to hold their heads above water, it remains that buying cars is not on the itinerary of most people today.

With more than 1,000 dealerships closing last year, the New Mexico dealer’s story is not unique. These mostly small, family run businesses are facing the incredibly difficult decision to cease operations due to a lack of affordable credit. On average, a dealer requires $5 million of inventory financing, or “floor plan” loans.

“Dealers are responsible for millions of dollars of economic activity, sales tax revenue for local communities, real estate taxes, payroll taxes and employee benefits, all of which would evaporate if a dealership is forced to close because it cannot find the credit it needs to continue the business,”

(Source) Press

Tags: 5 million, auto dealership, auto dealerships, buying cars, car dealerships, economic activity, economic crisis, employee benefits, floor plan, new mexico, payroll taxes, peril, real estate taxes, sales tax

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