Behind The Wheel

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After reporting the growth in auto loans to borrowers who do not have prime credit scores, I heard from a number of people who think this is bad news.

Essentially, their concern is that auto dealers writing more loans for those with non-prime (below 680) credit scores shows the auto industry is going too far to close sales.

I don't buy that, especially after going over the numbers with some of the most cautious players/analysts/observers in the auto business.  » Read More

The price at the pump may be falling, but interest in buying a fuel-efficient model remains high. In fact, the latest survey on consumer attitudes shows saving money on gas is the top factor impacting what model car buyers are looking for.

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Consumer Reports surveyed 2,009 Americans and found 35 percent have cut back on driving.

Among those thinking of buying a new car, 37 percent said fuel economy was the top factor, followed by quality (17 percent), safety (16 percent), value (14 percent), and performance (6 percent).

Perhaps the most interesting finding in the survey is what car buyers would be willing to give up in order to reduce fuel costs. More than half would give up size/capacity (58 percent) and amenities/comfort (52 percent). Far fewer would give up performance (37 percent) or safety (12 percent).

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Two days after being criticized for dropping direct ads on Facebook, General Motors said it will also stop running ads during the Super Bowl.

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In an interview Friday afternoon, Joel Ewanick, GM’s

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[GM  Loading...      ()   ] global marketing chief said, “We understand the reach the Super Bowl provides, but with the significant increase in price, we simply can't justify the expense.”

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Two new models geared toward two very different buyers are the latest moves by Ford and GM.

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Ford C-Max hybrid

The C-max is a 5 seat micro-van that has done well in Europe. Now, Ford is hoping the C-Max hybrid can win over buyers also considering the Toyota Prius V. Starting at $25,995, the C-Max will price $500 under the Prius V.

Ford hopes the fact the C-Max will be loaded with technology (parallel parking assist and a lift-gate activated by waving a foot under the rear bumper are two examples) will win over hybrid buyers looking for more than great fuel efficiency.

For Ford, cutting into Toyota’s lead in hybrids is a tall order. Toyota dominates the hybrid market accounting for more than half the sales of gas-electric cars in the U.S.

The C-Max hybrid will roll into showrooms later this year.

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Source: Facebook.com

It didn't take long for critics to question whether General Motors is wrong to pull $10 million in direct ads on Facebook. Despite the criticism, GM is not changing its stance. The world's largest automaker believes that it is better served not running direct ads on the world's largest social network.

GM

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[GM  Loading...      ()   ] issued a statement explaining its decision to cut back on Facebook marketing saying, "...while we currently do not plan to continue with advertising, we remain committed to an aggressive content strategy through all of our products and brands, as it continues to be a very effective tool for engaging with our customers."

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Pop quiz. How many different brands of commercial vehicles are sold around the world? The answer: More than 200.

Tomohiro Ohsumi | Bloomberg via Getty Images The Toyota Sports Coupe.

All-together, those brands sold more than 79 million cars and trucks around the world last year. That was a new record.

But the real focus is on the top ten brands, which sell 40.2 million (just over half of the global volume) vehicles last year.

According to IHS Automotive, here are the top ten brands and how many the sold last year:

1. Toyota: 6.41 million

2. Volkswagen: 5.65 million

3. Ford: 5.18 million

4. Chevy: 4.54 million

5. Nissan: 4.14 million

6. Hyundai: 3.81 million

7. Honda: 2.94 million

8. Kia: 2.85 million

9. Renault: 2.18 million

10. Peugeot: 2.0 million

What stands out about the list are the top 5 brands. All of the have strengthened their position because the parent companies have focused on building those brands in their strongest markets.

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Getty Images Toyota Signboard in China

In a world of large numbers, try wrapping your head around these digits: This year, the world is expected to set a new record with the sale of 80 million cars and trucks.

Let me put that into perspective:

- Annual sales: 80 million

- Daily sales: 219,178

- Sales per hour: 9,132

- Sales per minute: 152

So by the time you're done reading this, the world will have added another 300-500 vehicles.

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The numbers are impressive.

So impressive you’d be tempted to ask yourself, “Is Toyota back?”

That’s the question the auto industry is asking after the Japanese automaker posted strong quarterly earnings, and a forecast for 2013 that centers around increased sales and earnings for the current fiscal year.

Consider the latest numbers from Toyota:  » Read More