(NEW YORK) The New York State Senate today passed legislation to crack down on auto insurance fraud which has led to injuries – even death – for innocent victims and costs hundreds of millions of dollars a year in higher premiums when New Yorkers already pay some of the highest auto insurance rates in the country. The three bills approved today would significantly cut down on auto insurance scams by increasing penalties for those who commit or assist in the fraud and by giving more flexibility... more

(Copiague, NY) Economists are closely watching the used car industry in the United States and across the Atlantic to get a sense of the significant role played by pre-owned vehicle markets durinng recessionary periods. The industry in the U.S. has been enjoying a boom over the last few years as Americans weather the aftermath of the Great Recession, but things are different for the member nations of the European Union. According to the European Automobile Manufacturers’ Association (ACEA),... more

(Long Island, NY) Used cars are no longer seen as unreliable methods of transportation or hand-me-downs for senior high school students heading out to college. The used car marketplace in the United States is making headlines in publications such as Time magazine and the Wall Street Journal nearly ever day this year. Economists are taking a close look at the current boom in used car sales, and their research is providing and interesting glimpse as to why pre-owned vehicles are all the rage in 2013. High... more

(Long Island, NY) After slightly lagging behind new car sales in 2012, the used car marketplace is reporting strong gains in early 2013 and promising forecasts for the rest of the year. Americans are exercising caution with regard to their economic prospects and financial solvency, and to this end they are looking at used cars as a sensible option at a time when low wages and unemployment are still major concerns. More than 40 million used vehicles were sold in the United States in 2012, an increase... more