Service Protection Advisors Automotive News and Technology Report

Automotive News and Technology Report

	Auto News Report Welcome to Service Protection Advisors Automotive News and Technology Report. This part of our website will be regularly updated with the latest in automotive industry and technology news. This is a very exciting time in the automotive industry, in spite of the rough economic climate. Automotive technology is advancing in ways that were unthinkable just a few years ago, with the development of hybrid cars, electric cars, fuel-efficiency and safety features are moving at an amazing pace. We are excited to be here to help keep you informed on the newest developments in the industry and in all these amazing developments in automotive technology.
	Service Protection Advisors is Accredited by the Better Business Bureau Service Protection Advisors announces accreditation by the better business bureau. Service Protection Advisors launched its new auto service contract in December of 2008, also known as an auto warranty or extended warranty program, allowing consumers to purchase these and other auto service contracts over a period of time up to the entire term of the contract. South Haven, MI (PRWEB) April 27, 2010 -- Service Protection Advisors first publically announced its month-to-month program in October of 2009. Now, Service Protection Advisors has been recognized by the Better Business Bureau as a new member and an accredited business. Recognizing the great success of the program and benefit to consumers of extended warranties and auto service contracts, Service Protection Advisors’ insurer and administrator have launched these valuable programs to other suppliers. Now, other agents and resellers can allow their customers to take advantage of this month-to-month program as well. An article was released on October 21, 2009 regarding this program offered by Service Protection Advisors noting that, savvy consumers were beginning to realize that an auto warranty, auto service contract and extended warranty purchased for a used car or truck, pre-paid through 12-, 18- or even 24-month interest free financing is an opportunity to be left exposed to the administrator's or selling agent's insolvency or bankruptcy, like one reported on the St. Louis Dispatch site last this month. The new month-to-month programs, also called a lease, now being offered by Service Protection Advisors allow the consumers not only to lower the monthly payment dramatically, but nearly eliminate the exposure to an insolvency of the companies providing and selling the coverage, by only paying for the coverage as it is offered and not paying ahead of the coverage period. This was the case when U.S. Fidelis filed for bankruptcy and stopped providing refunds. Jeff Birmes, President of Service Protection Advisors said, “We are truly proud that the Better Business Bureau recognizes the hard work we have put forth to ensure our clients are being cared for with our products and services”. Birmes went on to say, “to our knowledge, Service Protection Advisors is the only known provider offering a month-to-month auto service contract that is accredited by the Better Business Bureau”.
	Analysis of this summer's 'Cash for Clunkers' proves program's success. After being praised by most people and obviously successful, but still criticized by a few, auto analysts are now widely hailing this summer's 'Cash for Clunkers' program as a huge shot in the arm for both the auto dealers and consumers and a major success. In fact, according to a Time Magazine interview with Jesse Toprak, of Truecar.com, a car-sales-data website, “I would give the pure sales impact of the program an A.” Initial forecasts had expected that only 250,000 new vehicles would be sold, but since the program became so popular it was considerably expanded and the original $1 billion allocated to it by the government was tripled to $3 billion. In all, during July and August, 714,000 new vehicles were sold nationwide as part of the program, with customers taking advantage of rebates of up to $4,500 on their purchase, in return for trading in their older vehicle. Auto forecaster Edmunds.com estimated the average sales price of new vehicles sold under the program was $26,321. A total of nearly $18 billion worth of new vehicles were sold, which generated around $1.36 billion in new state sales taxes. What that meant to the states is that some of them, such as Michigan for example, received as much as $39 million in new revenue. This increased tax revenue provided a much-needed boost to states struggling with budget deficiencies. Figures also show that many dealers were able to persuade customers who did not qualify for the program into purchasing other new or used cars, further boosting their sales. The program also undoubtedly helped those with less than perfect credit qualify for a loan, as the 'Cash for Clunkers' rebate was applied to the down payment. Many manufacturers also offered additional incentives, often matching the 'Clunkers' payment, giving consumers up to $9,000 in down payment, hugely increasing their chances of loan approval. The one down side to the program however, is that auto sales have now fallen 41 percent from August to September, mainly due to people already having bought new vehicles during the program. Whether sales will recover over the next few months remains to be seen.
	Ford and UAW near agreement on changes to workers' contracts. According to insiders, Ford Motor Company and the United Auto Workers are nearing a deal on Ford's current labor contract, which runs until 2011. Ford has been in talks with the UAW since August 25th, and states that it needs changes to the labor contract so that it can compete with rivals GM and Chrysler, to whom the UAW has already granted concessions, and to ensure long-term viability of the Ford brand. Since discussions are continuing, neither side has yet released an official comment. Ford spokeswoman Marcey Evans told MSNBC that the two sides are “making progress” and that Ford and the UAW are working together to improve Ford's competitiveness.
	Chevrolet invests over $230 million in production of new Volt and Cruze. Chevrolet announced Tuesday, October 13th, that it is investing over $230 million into four plants in Flint, Michigan, for production of its new Volt and Cruze models, and plans to restore over 500 jobs in the move. In addition to a previously-announced $202 million for the Flint Engine South plant, the new plans include $1.7 million to be spent on refurbishing press lines to produce stampings for the Volt and $30 million for building robotic weld tool cells at the Grand Blanc Weld Tool Center. Flint Tool and Die and Flint Metal Center will also receive investment. Work has already started at Flint South to prepare for production of the new 1.4 liter engines needed for the Volt and Cruze. While the Volt is a hybrid sedan car that will be able to drive up to 40 miles on the power from a single battery charge and over 300 continuous miles using electricity from its engine-generator, the Cruze is a highly fuel-efficient gas engine compact car capable of achieving 40 miles per gallon. The Cruze is scheduled for launch in the spring of 2010, and production of 2011 model Volts will start towards the end of 2010. At a press conference at Flint South, Flint Mayor Dayne Walling sat in a silver Volt and told reporters, "We have had an extraordinary relationship between the city of Flint and General Motors. Today, I feel like it's being renewed. This is a beautiful sight."
	Toyota's issues biggest recall ever, around 3.8 million cars. Toyota, long-known for reliability and quality, issued the largest recall in its history on September 29, 2009. The recall covers around 3.8 million vehicles and will include two of its best selling models, the Toyota Camry, America's top-selling passenger car and Prius brand vehicles, the top-selling hybrid in America. The recall involves a removable driver's-side front floor mat, that can apparently come loose and become jammed in the accelerator pedal mechanism, causing the car to accelerate wildly and making it difficult or impossible to stop. The recall comes after the tragic deaths of a California state trooper and three members of his family in an accident involving a Lexus. Owners will be notified by mail if their cars are involved in the recall and mats of all recalled vehicles will be replaced at no cost to the owners. We strongly urge all owners of a recalled vehicle to take their cars in immediately for the replacement mats, to insure your safety and that of your family. In a separate, and no less serious issue last week, the National Highway Traffic Safety Administration launched a probe into Toyota's 2000 and 2001 model Tundra pickups. Complaints have been received alleging severe frame corrosion, that has led to brake failure or spare tire separation. These problems could not have come at a worse time for Toyota. In 2008, the brand finally took over from GM as the world's best-selling automaker and appeared poised for further market growth, but now President Akio Toyoda, a member of the Japanese giant's founding family, has stated that Toyota is “near rock-bottom crisis”.
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