Top Headlines - part 3

Used-Car Prices in U.S Hits Record $16,800 in 2014

Used-Car Prices in U.S Hits Record $16,800 in 2014

BUSINESS

The average price of a used car in 2014 reached $16,800 in the U.S., a record, according to car buying information service Edmunds.com’s Used Vehicle Market Report.

Last year’s average price was 5.7% higher than 2013 when the average price was $15,900. A one-year-old car sold for an average of $30,000.

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Nissan Displays Glow in the Dark Car for Environmental Awareness

Nissan Displays Glow in the Dark Car for Environmental Awareness

BUSINESS

Nissan Europe is displaying a glow-in-the-dark, all-electric Leaf to increase awareness of solar- panel use.

The paint works by absorbing UV light using strontium aluminate, a odorless as well as chemically and biologically inert powder. It glows for 8-10 hours nightly.

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Entrepreneur: Apple Will Buy Tesla for $75 Billion in the Next 18 Months

Entrepreneur:  Apple Will Buy Tesla for $75 Billion in the Next 18 Months

BUSINESS

Apple Inc. will purchase Tesla Motors Inc. for $75 billion within the next 18 months, entrepreneur andangel investor Jason Calacanis predicts in a blog post.

Calacanis says he has no insider information or proof but has based his prediction on observations.

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Is Apple Working on an iCar?

Is Apple Working on an iCar?

BUSINESS

  • Reports claim Apple has opened secret lab
  • CarPlay soon to be available in new cars
  • Analysts say Apple has what it takes to become an automaker

Technology giant Apple Inc. is looking to make the jump into the automotive market, according to reports by the Wall Street Journal and Financial Times.

According to the report, Apple has opened a secret lab in California where it is working on an Apple branded car. WSJ reported the lab is employing several hundred people while Financial Times reported the number in the dozens.

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Automakers Debut New Vehicles at Chicago and Canadian Auto Shows

Automakers Debut New Vehicles at Chicago and Canadian Auto Shows

BUSINESS

  • SUVs the big draw for automakers
  • Electric models also prominently featured
  • Canadian International Auto Show debuts luxury cars, redesigned models

Automakers debut sport utility vehicles and electronic cars at the Chicago Auto Show.

SUVs are increasing in popularity in the U.S., boosted by low gas prices, lower interest rates and easy access to credit.

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UK Approves Testing of Driverless Cars

UK Approves Testing of Driverless Cars

BUSINESS

  • Nation hopes to become technology leaders
  • Testing to be conducted in approved locations
  • New regulations will be in place in this spring

The UK government has approved the testing of driverless cars on British public roads.

Transport Minister Claire Perry said she wants Britain to be in the forefront of embracing and developing new technology while Business Secretary Vince Cable said driverless technology will create jobs and economic growth.

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Tech Experts Expose How Easy it is to Hack Vehicle Telematics Systems

Tech Experts Expose How Easy it is to Hack Vehicle Telematics Systems

BUSINESS

Vehicle telematics systems such as OnStar can be easily hacked, cybersecurity experts have been warning for years. Now a report confirms it.

The report on automotive cybersecurity concludes automakers’ security measures are inconsistent and haphazard, failing to protect drivers from cyberattacks.

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Sales in Russian Auto Market Fall 24% in January

Sales in Russian Auto Market Fall 24% in January

BUSINESS

  • December sales had climbed 2.4%
  • Economic instability leads to less disposable income for Russians
  • Prices on foreign brands rise as high as 56%

Russian auto sales fell 24% in January to 115,390 vehicles compared to 2014, according to the Association of European Businesses, as a recession has caused Russians to have less disposable income.

In December, after a slow year, sales grew 2.4%. Russians rushed to purchase vehicles and durable goods at the end of 2014, anticipating a rise in the price of imported goods.

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Spotify Updates Features to Cater to Mobile Users

Spotify Updates Features to Cater to Mobile Users

BUSINESS

  • Updates make using the service on mobile devices easier
  • Intended to expose users to new music
  • People are increasing using touchscreen devices

Music streaming service Spotify has introduced updated features intended to make using the service on mobile devices easier.

The newest feature, called Touch Preview, along with additional swipe features, are the first Spotify updates made with smartphone users in mind.

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Toyota Forecasts $18 Million in Profit for Fiscal Year

Toyota Forecasts $18 Million in Profit for Fiscal Year

BUSINESS

Toyota Motor Corp., the world’s largest automaker, has revised its full-year profit forecast to $18 billion as a variety of factors boosted company sales in 2014.

Through the fiscal year’s third quarter, which ends in March, the company will make an estimated $14.7 billion, a 13.2% increase from a year ago. During the second quarter, profit grew 14%.

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