Six months ago, Mojo Motors put together a handy map of states where Tesla can sell cars. We actually printed it out and hung it next to our desk as a handy reference guide–but it seemed a useful thing to share. [keep reading]
Oil prices are falling sharply and lower oil prices leads to lower gas prices. Before you buy that SUV you always wanted, you might want to find out how much you can really save. We already told you about states with the highest gas tax, but now we figured out what states are benefiting the most from the recent drop in gas prices. To find this out, we looked at a few metrics like miles driven per year and gas prices based on the 2014 high and low as of October 2014.
The data around gas prices came from the website GasBuddy.com, a terrific resource for looking at gas prices by state or city. They also have a cool app that helps you find the cheapest gas near you. The breakdown of the average miles driven by state came from a study conducted by US Public Interest Research Groups.
Top 10 States Saving the Most
Indiana – $515.21
Alabama – $507.53
Ohio – $504.40
Mississippi – $449.37
Kentucky – $441.10
Georgia – $425.98
Michigan – $420.70
Tennessee – $415.44
Missouri – $407.98
Delaware – $393.10
We determined these states are saving the most by dividing average miles driven per year by the average miles per gallon and then multiplying by the decrease in price. Simple, right? We assumed the average miles per gallon was 20. The less fuel efficient your car is, the more you will save. Let’s say you live in Indiana and drive an old Suburban, you could save over $700 if gas prices stay flat. If they fall more, you save more.
So why are these states saving the most? Well, it’s a few of different reasons. Either these states have a high gas tax, their drivers put more miles on their cars each year than other drivers in other states or the price of gas just dropped more. Take Michigan or Indiana, for example, with a gas tax above 40 cents per gallon of gas. As gas prices go down, so does the amount a state is pulling in on taxes. States like Alabama or Missouri have some of the most well-traveled citizens, logging over 11,000 miles behind the wheel each year.
Now let’s pause for Kanye to make it rain.
States with Biggest Drop in Gas Prices
Ohio – 26%
Indiana – 22%
Michigan – 22%
Delaware – 21%
Tennessee – 21%
South Carolina – 21%
Kentucky – 21%
Alabama – 21%
Georgia – 21%
Illinois – 21%
California – 21%
Just because these states have the biggest drop in gas prices, doesn’t mean drivers are actually saving the most. In California where gas prices are among the highest in the country, a 21% drop still might not be a relief for drivers. On the flip side, in South Carolina where gas prices are the lowest in the nation, that extra 21% probably makes gas seem practically free.
Now that you know the states saving the most and which have seen gas prices drop more than anywhere else, let’s look at the losers.
Top 10 States Saving the Least
Hawaii – $127.77
Alaska – $156.02
New York – $176.19
Utah – $203.85
District of Columbia – $224.61
Montana – $227.20
Rhode Island – $227.70
Idaho – $240.82
Massachusetts – $243.72
South Dakota – $250.16
We used the same calculation to find the states saving the most to find the states saving the least. While states in Midwest and South are saving the most, it’s the coastal and sparsely populated states that are seeing the fewest savings. Sorry Hawaii and Alaska. And as you can see below, it’s the sparsely populated states with the smallest drop in gas prices.
States with Smallest Drop in Gas Prices
Hawaii – 8%
Wyoming – 10%
Montana – 11%
Alaska – 12%
Utah – 12%
North Dakota – 13%
Idaho – 13%
South Dakota – 13%
Vermont – 14%
Nebraska – 14%
So what does this all mean? Move to the South. Roll Tide. The Midwest is an option, too. Go Hoosiers.
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Luxury cars are often used by automakers to test new features in the marketplace, and since the cars already come at a high price, adding new high-tech equipment that’s sold as an option package gives them a way to test it more in real life. If successful, the features are refined more and trickle down to mid-priced cars driven by the masses. “In 2018, backup cameras will be mandatory in all vehicles sold in the U.S. A few years back, that technology was only available as an additional option in luxury cars,” says Paul Nadjarian, CEO of Mojo Motors, an online automotive marketplace that tracks used car prices at dealerships. [keep reading]
Gov. Rick Snyder recently signed legislation that Tesla Motors and others see as extremely restrictive for the California electric car maker to do business in the state. Snyder noted as he signed HB 5606 into law that Tesla’s unique, non-dealership, direct-to-consumer sales structure was already illegal in Michigan before the legislation cruised through Lansing. [keep reading]
Driving a car is an extremely dangerous activity that most people do everyday. It doesn’t faze us that we share the roads with drowsy, distracted and drunk drivers, each wielding their very own 2-ton death-machines, loaded with gallons of liquid explosives. Unfortunately, there are other threats on the horizon. As more automotive systems become controlled by computers, your car is increasingly more vulnerable to hacker attacks.
The infographic above shows the systems that can be hacked on any new car and many used cars on the market. The more robust and interconnected the computer system is, the more that can be done to your car.
Of course, not every hacker is a psychopath with homicidal intentions. It is unlikely, but not impossible, that a hacker would go through the extreme effort to harm the average Toyota Prius owner. A hack-attack could even be harmless, albeit very annoying. Below we break down every hack by degree of severity. [keep reading]
Automotive shopping and research resource Mojo Motors recently conducted a study to seek out what cars still made good buys with the highest mileage in their respective classes.
“We analyzed almost 300,000 vehicles on Mojo Motors from the model years 2002 to 2012 to find the highest mileage used vehicles,” the site said. [keep reading]
CarGurus recently announced they will be expanding their service internationally and going public. I’ve been asked by colleagues and the press for my thoughts and here are three reasons why I couldn’t be more excited.
- Finally! Automotive gets to have its share of the public markets. AutoTrader and Cars.com have been operating profitably for over 15 years, but are still closely held private companies (Cox Enterprises, Inc. owns AutoTrader and Gannett owns Cars.com).
- All automotive marketplaces will benefit. As the Founder of Mojo Motors I’m thrilled our category will get attention the other major verticals (real estate, travel, jobs) have enjoyed for years through multiple IPOs.
- International expansion is a bold move. The challenges are significant and margin for error is very thin. CarGurus’ strategy to go public, then use proceeds and/or stock to acquire existing players is a great idea with some historical evidence. This is how eBay successfully and quickly expanded internationally in the early to mid 2000’s. This same strategy can work in the automotive space, as well.
As 2014 begins making way for 2015, here’s a recap of some of the developments in automotive tech.
- January 2, 2014 – Cox Enterprises increases stake in AutoTrader to 98%
- January 21, 2014 – CarWoo shuts down after $16M in funding
- May 16, 2014 – TrueCar goes public and trades at $9 a share
- August 4, 2014 – Gannet buys Cars.com for $1.8B
- October 11, 2014 – CarGurus announces they are going international and public
Expect the automotive marketplace shakeups to continue in 2015 and beyond…
Written by Paul Nadjarian
Paul is the Founder and CEO of Mojo Motors, an automotive classified website where shoppers Follow cars to get alerts when dealers drop prices.
Article by Bill Griffith for boston.com
Snowbirds and parents driving college students along the East Coast on a regular basis quickly realize that gas prices are lower in New Jersey, Virginia, and South Carolina. Conversely, it’s best to avoid filling up in Connecticut, New York, Pennsylvania, and North Carolina. The reason? State taxes on gasoline vary considerably around the country. A tip of the cap goes to Sam Jackson and New York-based car-shopping website MojoMotors.com for compiling the countrywide data. One of the reasons for doing the study, notes Jackson, is the pending global warming tax that California is scheduled to implement on January 1, adding a predicted 15 cents per gallon. [keep reading]
In a Mojo Motors poll, 4 out of 5 people said they would not buy an autonomous car if it were on the market today. Even early adopters might be wary of buying a driverless car. It’s tough looking past the unusual design language and that big do-hicky on the roof that looks like a rotor-less helicopter motor.
To be fair, Google’s prototype would be blind without that chunky Lidar detector on the roof. In its current form, Lidar (Light Detection And Ranging) may be unsightly, but the technology is critical to autonomous cars. It provides a detailed 3D map of the vehicle’s surroundings in real time. This data is run through algorithms that allow the vehicle to identify and react to minute signals such as when a biker signals a lefthand turn. [keep reading]
For many states, taxes on gasoline and diesel fuel are an important source of revenue for supporting road and infrastructure programs. Most road work and bridge repair is largely funded by money raised from taxes on gasoline, both at the federal and state level. The federal government imposes a tax that amounts to about $0.18 per gallon. The money raised through this specific tax is used to finance major repairs to interstate highways and bridges, as well as roads through national parks and other public infrastructure. Recently, the issues surrounding the desperate state of the nation’s road and bridge network have led many to believe that a tax hike might be in order to address the crumbling roads, freeways, and bridges unless another solution is proposed. [keep reading]