Apps that save money on gas may be at the top of our shopping list as we navigate travel and shopping this Thanksgiving holiday. We will try to answer the best way you can save money on gas, gadgets and more in today’s In The News segment. The news summary also covers the growing importance of the Thanksgiving holiday for auto makers and five smartphone apps that can help you find the cheapest gas prices near you.
5 Free Apps to Save You Money on Gas
One of things you might be grateful for during this Thanksgiving period is the decrease in gas prices. But finding the cheapest gas station in your community can still cause you a headache. Thanks to several smartphone apps, you can now easily find the lowest gas prices near you. One of them is GasBuddy, an app that can help you find a station based on gas prices or distance, and relies on its users to keep prices up to date. There’s also MyMPG, an app that tracks your driving techniques and offer suggestions on how you could be more efficient behind the wheel. (Popular Mechanics)
Mercedes-Benz Owners in China are Likely Wealthiest
A new study on Chinese car owners shows that Mercedes-Benz owners in China are probably wealthy entrepreneurs while Cadillac drivers are likely white-collar workers. The survey, released by the Hurun Research Institute, involved 800 Chinese car owners in 10 cities. It shows that the average age of luxury-car owners in China is 33.5 years, with an annual household income of about $160,000. Many consumers are buying a car for the first time, prompting auto companies to consolidate their brands in China, which McKinsey & Co. predicts will overtake the United Sates as the biggest premium auto market by 2016. (Bloomberg)
Tesla and BMW May Collaborate on Battery Tech
Electric carmaker Tesla is reportedly in talks with BMW over a possible collaboration on battery technology. In an interview with Der Spiegel, Tesla CEO Elon Musk said, “We are talking about whether we can collaborate in battery technology or charging stations.” However, a Tesla spokesperson said that no formal agreements are in place at the moment. The possibility of cooperation between Tesla and BMW has previously been reported and in June, Musk reportedly met with BMW execs, with both companies being rumored to have also met with Nissan to discuss charging technology. (Auto Guide)
Is Black Friday a Good Time to Buy a Car?
The auto industry is looking to cash in on Black Friday this weekend by slashing prices. An analyst at Kelly Blue Book, Alex Gutierrez, said that while Black Friday hasn’t yet reached the level of Memorial Day or Labor Day for car sales, it’s quickly becoming one of the bigger weekends of the year for dealers. But is Black Friday really a good time to buy a car? Larry Dominique, an executive vice president at TrueCar, a service that tracks car prices, said that while discounts are very good on Black Friday, they actually improve as it gets closer to the end of the year. (Fortune)
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