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The Latest Breaking News from Ivan Drury

Here's what the Fed interest rate hike means for you

The Federal Reserve raised its key rate by a quarter point Wednesday, bringing it to the highest level in 15 years as part of an ongoing effort to ease inflation by making borrowing more expensive

The Independent UK

Buyer beware: All those cars damaged in California's floods could be coming to a dealer near you

LOS ANGELES — It's the smell that'll give it away.

Los Angeles Times

Stellantis has plans to elevate its Italian brands in North America. Here's how

Selling low volumes of vehicles may be a counterintuitive approach for brands that have struggled to make their mark in North America, but that's the plan to elevate Stellantis NV's Italian brands here, according to their executives.

Tribune News Service

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How Fed's series of rate hikes could affect your finances

The Federal Reserve’s move to raise its key rate by a half-point brought it to its highest range in 14 years

The Independent UK

Edmunds: How to mitigate rising auto loan interest rates

The Federal Reserve issued its latest interest rate hike in early November

The Independent UK

New car and truck sales in California down 16.1% this year

SAN DIEGO — Economic headwinds combined with lingering supply chain constraints have resulted in a sales dip of 16.1 percent in new car and trucks sales in California through the first three quarters of this year compared to the same period in 2021.

Tribune News Service

It's not just buying a car — owning one is getting pricier, too

Mechanics' bills are rising faster than inflation, and people are holding on to their vehicles for longer than ever. That means even those staying out of the car market are feeling inflation's pinch.

WEKU

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Heavy-duty trucks are fueling the EV transition. When will they get electrified?

The Detroit Three automakers are pushing toward an electrified future, but they’re not yet putting their gas and diesel-powered heavy-duty trucks on the back burner.

Tribune News Service

Casey Williams: What’s driving the latest crossover trend of big tires and facelifts?

GMC just revealed the 2023 Sierra 1500 AT4X AEV Edition — an extreme off-road version of its venerable pickup designed to cross deserts and mountain ranges alongside the Ram TRX and Ford Raptor. It flaunts skid plates, off-road tires and all the luxury trimmings, but biggest influence may be on…

Tribune News Service

Electric cars: More consumers now want to buy them, survey says

A growing number of Americans are coming around to the idea of driving electric vehicles, with 71% expressing at least some degree of interest in buying or leasing EVs, according to a national survey released Thursday by Consumer Reports.

Tribune News Service

Monthly car payments have crossed a record $700. What that means

The average cost of a new car is also at the highest on record, topping $47,000 a pop. At this rate, an essential household purchase is starting to feel like a luxury in America.

WEKU

Modest-income buyers being priced out of new-vehicle market

Two years after the pandemic tore through the economy, America’s auto market looks something like this: Prices are drastically up

The Independent UK

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