Month: January 2023

Choosing Electric Vehicle Charging Stations for Home
About Automotive / Auto Parts

Choosing Electric Vehicle Charging Stations for Home

- by Johnny Lewis

When it comes to choosing the right electric vehicle charging station for your home, there are several things you should keep in mind. They include safety considerations, cost-saving tips and more.

Choosing the right charger can be an important investment for many drivers. It can also help you save money on fuel and contribute to the environment.

Types

An electric vehicle charging station converts the power available in your home– usually either 120 volts or 240 volts–into a current flow that an electric vehicle’s battery system can accept.

Level 1 chargers convert 120-volt household outlets to a charge rate of about 1.4 kilowatts. They are a good choice for most people who need to charge their electric vehicles at home, or in offices where workplace charging is offered.

A Level 2 charging station converts 240-volt circuits into a current flow that an EV’s battery system can accept. They can charge a typical EV battery overnight and are commonly installed by EV owners for home use.

Some Level 2 charging stations can be remotely controlled by apps over WiFi and Bluetooth, which can be handy if you need to schedule sessions or monitor the charging of your EV from afar. However, …

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The Vehicle Industry Bubble Could Lead to a Crash
Automotive Manufacturers / Car Industry

The Vehicle Industry Bubble Could Lead to a Crash

- by Johnny Lewis

If you’ve been watching the news recently, you’ve probably heard about the Vehicle Industry Bubble. It’s a scary situation that could eventually lead to a crash.

The car industry is experiencing a bubble due to a combination of factors. This includes a computer chip shortage, low inventory, high demand and a lack of incentives.

Definition

The Vehicle Industry Bubble is a condition that is caused by over-inflated prices for used cars. The condition is a result of increased gasoline prices and a weakened automotive market.

It is not a systemic risk, but it will be bad for lenders that largely finance people with poor credit or rely on used car values for loan approvals.

A vehicle manufacturer may offer incentive programs that encourage consumers to purchase a new vehicle, including cash rebates or low-cost financing and leases.

One major issue is that many consumers financed vehicles at highly inflated prices during the bubble. This is causing millions of consumers to owe thousands more on their auto loans than their cars are actually worth.

Causes

The Vehicle Industry Bubble was a period of time when many automotive suppliers, dealerships and a few manufacturers found themselves fighting for their survival. It was …

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