1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Credit unions rank third on the list in terms of giving to the Children’s Miracle Network Hospitals — right behind retail behemoths Walmart and Costco. Not bad company. In fact, the news just came out that for the second year in a row more than $1 million was raised for the 11 Children’s Miracle Network Hospitals in California and Nevada. Pretty cool. continue reading »
US automakers are scheduled to report June and second-quarter car and light truck sales on Wednesday. Analysts are forecasting June sales will fall by 25 percent from a year earlier. That’s an improvement from the declines in April and May, reflecting a slow recovery in retail demand hit by coronavirus shutdowns.The second-quarter numbers reflect a peak for the US auto industry’s efforts to use consumer discounts, low interest loans and other incentives to prop up demand during the pandemic.Since March, US automakers have rushed to prop up demand with rich incentives to keep sales moving. The deals have been good enough and over the next few months, industry officials and analysts say sales could be hurt because of tight inventory.“The speed at which the (automakers) stepped in to support the franchised dealer network as well as the retail consumer is historically significant,” auto retailer Lithia Motors’ Chief Executive Officer Bryan DeBoer said. On a per vehicle basis, spending on discounts was at record levels for June at about $4,441 per unit, a significant 12 percent increase from $3,966 per unit for June 2019, according to automotive consultancy firm J.D. Power.In April, a month after automakers halted production due to the coronavirus outbreak and a massive 40 percent decline in sales, per vehicle spending peaked at about $5,000 for the year, jumping about 40 percent from the same period last year.“The top three automakers have packed in aggressive incentives with extended financing at 0 percent rate for 84 months in addition to payment deferrals for up to six months,” said Tyson Jominy, vice president of data and analytics at J.D. Power.“Before COVID, only 7 percent of all sales represented loan terms for 84 months. That metric shot up to 21 percent during the peak,” Jominy said. “That’s unprecedented.”Lower sales volumes mean automakers can offer hefty discounts per vehicle, while still shrinking overall spending.Total incentives offered by automakers since March until June end are estimated to be down about 12 percent to $18.6 billion, from a year earlier, as sales volume have fallen 28 percent, according to J.D. Power.Shares of General Motors Co, Ford Motor Co and Fiat Chrysler Automobiles closed up between 1.5 percent and 2.5 percent on Monday.Topics : In the midst of a raging pandemic, Belal Bilto, 26, a sales executive and a Manhattan resident bought a midsize pickup Jeep Gladiator this month for just over US$48,000, lured by a discount of about $5,000 on the list price and a seven-year, no-interest loan.For Bilto, who was laid off in March, and his fiancé Sabrina Moller, 28, a private chef, a car seemed a safer option to travel around during the virus outbreak. Most importantly the truck’s purchase is a business expense for the couple to support their new boutique mobile catering venture, platedate.“We went specifically for the Gladiator because the model was (being offered at) employee pricing and we also got free service after 1,000 miles and a free repair offer for a serious accident,” Bilto told Reuters.
Rain moving through region Tuesday morning.BATESVILLE – Showers and thunderstorms are moving through the area Wednesday morning.The strongest chance of precipitation is between 10-11 a.m. before tapering off during the early afternoon.A cold front will accompany the rain resulting in temperatures reaching the upper 70’s for the rest of the week.The extended forecast shows the next chance of rain Friday night and through the weekend.