Auto Facts with CARA

In September of 2020, almost 1.4 million motor vehicles were sold in the U.S. As more people consider purchasing or trading in a vehicle, consumers may find themselves mired by misconceptions. Here are several car-buying misconceptions, fallacies, and superstitions, debunked, (and also a few truths) to guide your car-buying journey:

The holidays are not that far off.  We wanted to discuss with you some gift options for the car enthusiasts in your lives.

As leaves begin to fall, wet leaves on the roadway can be as slippery as ice. They also can obscure traffic lines and other pavement markings, making driving in unfamiliar areas particularly difficult. Motorists should slow down and use extra caution on leaf-covered roadways.

If you do begin to slide on the wet leaves, take your foot off the gas but DO NOT slam on the brakes. Braking hard will only increase the slide. Point your wheels in the direction you want your vehicle to go. As your vehicle straightens out, you’ll need to adjust your steering again.

The Connecticut Hydrogen and Electric Automobile Purchase Rebate (CHEAPR) offers incentives of up to $5,000 for Connecticut residents who purchase or lease a new eligible battery electric, plug-in hybrid electric or fuel cell electric vehicle. There are currently over 30 eligible vehicles available and the list continues to grow as manufacturers release new models.

Fatalities in truck-involved crashes have risen by about a third since 2009 and reached 4,951 killed on U.S. roads in 2018, the latest year for which federal data is available. Truck-related fatalities represent 13.5 percent of the overall traffic-death total that year.

The Federal Excise Tax (FET) on heavy-duty trucks was first imposed in 1917 to help pay for World War I. Interesting to note it began around the same time as the last major pandemic.

 This tax on most new heavy-duty trucks, tractors and trailers was originally 3% and has now grown to 12%. 

As the highest excise tax on a percentage basis that Congress levies on a product, the FET often adds as much as $20,000- $30,000 to the price of a new heavy-duty truck.  This cost prevents companies from buying newer and safer vehicles.  The FET is prohibitive.

Excise taxes go to the Federal Government.  It is important to note that heavy trucks are all American made.

Dealerships are an integral part of Connecticut’s economy as they protect our state’s consumers and work hard to contribute $10.3 billion in total sales to Connecticut's economy, which is 17.7% of total retail sales in the state.  

There are currently over 14,000 employees in direct jobs at the 270 new car dealerships in Connecticut.  This is an average of 57 employees per dealership.  There are also over 14,000 indirect and induced jobs.  The payroll for the dealerships amounts to $880 million.

Whether it is to the beach or to the mountains, fall is a great time to get in your car and go for a drive. What are some road trip essentials? Where can consumers find new vehicles for these fall drives and the rest of their commuter needs?

Over the years, women have become a more powerful and influential segment of the car buying community. Research shows that women influence 70%-80% of all consumer purchasing. According to cars.com, women buy 62% of all new cars sold in the U.S.

According to Cox Automotive, franchised dealers have experienced growth in manufacturer-backed certified preowned (CPO) sales. Through October 2019, CPO sales were up 2.9 percent. 

 A CPO used car is a Certified Pre-Owned car and they’re very different from the average used car. A car can be certified either by a dealer using an automaker’s specifications, or dealers can certify cars on their own.

While you won’t be taking off into the sky with your SUV right from the interstate anytime soon, the future of cars is bright, especially when it comes to building cars with greater internet-based capabilities that will make driving smarter and safer.  When the car moves from being a closed box to a “mobile box” with the ability to gather data and communicate it, that is known as a connected car.