The auto market is a mainstay of the economy, and a sector that generates significant interest whether from people looking for ways to buy cheap cars to affording luxury cars to getting the best car insurance rates. So to help, our highly-experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts (Get a free issue of The Kiplinger Letter or subscribe). You will get all the latest news first by subscribing, but we will publish many of the forecasts a few days afterward online. Here’s the latest forecast…
As faulty software becomes a more common reason for vehicle recalls, automakers are increasingly looking to save money with remote updates, which remove the hassle and cost of bringing a car to a dealership or mechanic.
In-person software updates for U.S. auto recalls cost half a billion dollars annually for car manufacturers, according to ABI Research. In 2022, nearly 10 million cars were recalled in the U.S. due to software-related issues.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Nearly half of those had to go to the dealership for an update. Automakers could save $1.5 billion by 2028 by shifting to over-the-air updates, says ABI Research.
Tesla leads the way with remote updates, but others, such as GM, aren’t far behind. Automakers also have big plans to profit from paid updates and self-driving features. For example, Tesla has a $100 monthly subscription for driver-assist features.
This forecast first appeared in The Kiplinger Letter. Since 1923, the Letter has helped millions of business executives and investors profit by providing reliable forecasts on business and the economy, as well as what to expect from Washington. Get a free issue of The Kiplinger Letter or subscribe.
Read more
-
Average 401(k) Match: Do You Work for a Generous Company?Here is the average 401(k) match and the top 20 companies as measured by their match policies. A generous 401(k) match provides a more secure retirement.
-
Should You Start a 'Trump Account' for Your Child?"Trump Accounts" for kids is part of the One Big, Beautiful Bill that was just signed. Look at if it's worth it for your children.
-
AI’s Rapid Rise Sparks New Cyber ThreatsThe Kiplinger Letter Cybersecurity professionals are racing to ward off AI threats while also using AI tools to shore up defenses.
-
Blue Collar Workers Add AI to Their ToolboxesThe Kiplinger Letter AI can’t fix a leak or install lighting, but more and more tradespeople are adopting artificial intelligence for back-office work and other tasks.
-
America's Surprising Strengths in Manufacturing and ExportsThe Kiplinger Letter Despite common perceptions that the U.S. doesn't build things anymore, American factories are still hard at work. A special report from The Kiplinger Letter.
-
Tax Rule Change Could See Millions Lose Health InsuranceThe Kiplinger Tax Letter If current rules for the health premium tax credit (PTC), a popular Obamacare subsidy, aren't extended, 3.7 million people could lose their health insurance.
-
Will State Laws Hurt AI’s Future?The Kiplinger Letter Republicans in Congress are considering a moratorium on state AI laws. But it’s likely a growing patchwork of state AI regulations will be here for a while.
-
Travel Trends You Can Expect This SummerThe Kiplinger Letter Domestic trips will trump foreign travel amid economic uncertainties, though some costs are down.
-
AI Goes To SchoolThe Kiplinger Letter Artificial intelligence is rapidly heading to K-12 classrooms nationwide. Expect tech companies to cash in on the fast-emerging trend.
-
The New AI Agents Will Tackle Your To-Do ListThe Kiplinger Letter Autonomous AI agents “see” your computer screen, then complete a task, from buying a concert ticket to organizing email. This opens up a world of possibilities.
