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Tuesday 19 September 2017
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Headlines: Mazda Miata, Chevy Malibu, Auto Loans

Headlines: Mazda Miata, Chevy Malibu, Auto Loans

MAZDA MIATA PRODUCTION

Mazda Miata fans will be happy to hear this one. The automaker’s kicked off production of the new MX-5. The much talked about fourth generation model was unveiled a few months ago.

Mazda says it’s sold more than 950,000 of its little roadsters to date, making it the best-selling two-seater sports car in the world. Mazda says the new model will be the most compact of any generation MX-5 so far and is more than 100 kilograms lighter than the model it replaces.

CHEVY TEASES NEW MALIBU

Finally, Chevy plans to to take the wraps off what looks to be a completely re-designed Malibu in a few weeks. The next generation model will debut at the New York Auto Show. Chevy promises a larger, sportier and more efficient model this go round.

“Malibu’s gorgeous styling is the result of a masterful understanding of proportions,” said Ed Welburn, General Motors’ vice president of Global Design. “The roofline has been stretched rearward giving a more sleek profile, while the front wheels have moved forward and front and rear overhangs have been reduced. Along with the sculpted body side, these cues help Malibu appear more dynamic and sophisticated.”

Meanwhile, no official word yet on when Chevy will unveil its highly anticipated sixth generation Camaro, which looks like it gets a significant style update as well. Chevy’s posted a look at Camaro design throughout the years on its website, as the fifth-generation ends its production run.

“While Camaro has evolved with cultural and design trends, it has consistently represented the approachable, attainable sports car with an emphasis on fun that’s evident in its styling,” said Ed Welburn, vice president of GM Global Design. “As a result, each generation of Camaro has evoked an emotional connection with enthusiasts – connections spanning 48 years, and five generations.”

It’s interesting to note that the Camaro’s first generation lasted only three model years.

AUTO LOANS AT RECORD HIGH

Drivers are buying more cars than any other year since 2006 and they are also borrowing more money than ever to do is. New figures from Experian show that auto loans are at a record level, with the average amount financed coming in at $28,381.

Researches say it’s due to several different things. One is that the cost of a new car is going up. Add to that, the fact that more people are buying SUVs and trucks, which tend to cost more than your typical four-door sedan.  Another reason for the record numbers is that more younger, so-called Millennial, buyers are now borrowing money to own cars.

Auto loans are also going long-term, and by long-term we mean as long as 73 to 84 months.

Photo Credit: Mazda