This status symbol makes drivers a target for thieves. Image from Wikimedia Commons.

There is a lot of incentive to keep track of which cars thieves like to make off with more than others. The list of the most popular stolen cars, or most regularly stolen vehicles, is tracked by several sources, including the Insurance Institute for Highway Safety. The IIHS has just released its report on the most popular vehicles among thieves for this year, and the list does not exactly surprise. There is a surprising corollary, but one that thieves don’t likely consider.

Escalade tops the list of stolen cars

Car thieves love to steal Cadillac Escalades more than any other vehicle. Not only that, but in six of the previous seven IIHS reports, the Escalade has been the leader of stolen vehicles. An Escalade is seven times more likely to be stolen than any other vehicle. Despite the fact that the luxury SUV does come with some anti-theft features, car thieves simply tow them away. The high theft rate likely is due to the glamorous nature of the Escalade versus other luxury SUVs, such as Land Rovers. The full report is available on the Insurance Institute for Highway Safety website.

Car thieves compared to raccoons

There’s an urban myth that raccoons are especially attracted to anything bright and shiny. While the animal’s predilection toward such gleaming metal is not proven, car thieves’ proclivity for vehicles that shine is. The IIHS report for the most stolen vehicles lists luxury SUVs, luxury cars and full-size pickups as the most usual targets. Here’s the full list of most stolen vehicles:

• Cadillac Escalade
• Ford F250 4 Door
• Infiniti G37 2 door
• Dodge Charger HEMI
• Chevrolet Corvette Z06
• Hummer H2
• Nissan Pathfinder Armada
• Chevrolet Avalanche 1500
• Chevrolet Silverado 1500 Crew
• GMC Yukon

Thieves want performance cars, luxurious SUVs and big pickups. Trucks also often contain tools, which sweetens the deal for a car thief.

You would not believe what other list these cars are on

There is another list some of the above vehicles are on. The Escalade and the Ford F250 are both on Forbes list of the Worst Made Cars on the Road. The bottom line, however, is this: if you want your risk of theft to be minimal, a flashy show of status is something you might want to avoid. Unless you have the cash for a new car.

Further Reading

IIHS Most Stolen Cars

Forbes Worst Made Cars on the Road

Ford finished No. 1 among mass-market brands in J.D. Power reliability, the first time a U.S. automaker finished ahead of foreign automakers in auto quality rankings. Flickr photo.

U.S. automakers finished ahead of imported brands for the first time ever in auto quality rankings for mass-market new cars and trucks released Thursday. Ford Motor Co. ranked No. 1 for quality among mass-market brands while Toyota, usually at or near the top of the heap, fell to 21st in the J.D. Power & Associates car review study considered to be the benchmark of auto quality rankings for U.S. consumers.

J.D. power car reviews

J.D. Power car reviews rank vehicles according to the number of problems reported per 100 vehicles. The Associated Press reports that owners of cars built by U.S. automakers reported fewer problems on average during the first 90 days of ownership than cars and trucks built by foreign automakers. It marks the first time that has happened in the 24 years the industry research group has conducted the annual quality study.

Ford tops auto quality rankings

J.D. Power said Ford, the only U.S. automaker to avoid bankruptcy and a government bailout, showed some of the biggest gains in auto quality rankings among individual brands, moving into the fifth spot overall — the highest place Ford has achieved in the study. Luxury brands captured the top four spots, led by Porsche and followed by Acura, Mercedes-Benz and Lexus. Reuters reports that “the results underscore the progress U.S. automakers have made on closing their long-criticized gap in quality with Asian automakers.” Toyota, which suffered through major safety recalls earlier this year, saw its score drop from sixth to 21st.

GM quality ranking below industry average

In the auto quality rankings, Buick was the only General Motors brand that reported fewer problems than in 2009. Business Week reports that all GM brands finished below the industry average. J.D. Power said that high scoring brands in the auto quality ranking survey do a better job of keeping customers, with owners of cars in the top quarter of the list buying the same brand 59 percent of the time while brands in the bottom quarter retain just 44 percent of  owners.

The Mercury Cougar, long considered among the finest muscle cars ever produced. Image from Wikimedia Commons.

Last week, it was announced that executives of the Ford Motor Company would be putting forth a proposal to shut down the Mercury brand. It was announced on Wednesday, June 2, that the death of Mercury had become official. Ford will stop producing Mercury brand vehicles at the end of the year, and Ford will be making Ford and Lincoln the top priorities of the company.  Car makers with multiple brands have been trending toward eliminating the underperforming lines, as Pontiac, Saturn, Hummer and others have also gone the way of the dinosaurs.

Mercury vanishing like quicksilver

Ford has weathered recent troubles, but the Mercury brand has not been performing well.  According to the New York Times, Mercury as a brand held less than 1 percent of the market share in domestic auto sales and moved less than 93,000 cars in 2009.   Ford does not anticipate that there will be many side effects, because no dealerships sell Mercury vehicles exclusively.  Ford has been raking in the payday cash from Ford and Lincoln sales, so it appears Ford is not worried about ending the Mercury line.  There was a proposal last week to ax Mercury, but now it’s official.

Mercury’s orbit

Mercury was launched as a middle ground between the economical Ford and luxury Lincoln brands back when Ford was losing ground to General Motors after the second World War.  The brand itself was launched by Edsel Ford, only son of Henry Ford, according to CNNMoney.  The brand was actually popular for some time, enjoying successes in the 1960s and 1970s, especially with the Mercury Cougar.  Dealers reportedly are quite all right with the change.

Smaller brands dying off

This is not the first underperforming brand being cast into oblivion by the parent company.  Plymouth, Pontiac and Hummer all went off into that good night when the bottom line wasn’t being met, and Ford divested themselves of Jaguar, Land Rover, Aston Martin and is currently trying to get rid of Volvo.

Jeep Patriot image from Flickr.

The Insurance Institute for Highway Safety has come out with its annual list of Top Safety Picks. Eight SUVs and 19 cars have been given Top Safety Pick awards for 2010. People who want to make sure they’re getting the safest cars before filling out a personal loan application for a car loan should definitely check out this list.

The Insurance Institute for Highway Safety named six vehicles made by Ford, which makes Volvos, Top Safety Picks. Subaru and Volkswagen each had five vehicles named on the list. The Institute picked four Chrysler vehicles.

The Insurance Institute for Highway Safety

For 50 years, Insurance Institute for Highway Safety has operated for the purpose of reducing automobile accidents and injuries. The Institute is a non-profit organization that gets its funding from insurance companies. Each year, four tests are conducted to determine the Top Safety Picks:

1. Frontal offset impact test
2. Side impact test
3. Rear crash protection and head restraint ratings
4. Roof strength test

The Insurance Institute for Highway Safety also rates child booster seats for cars and other consumer products. Of course, the Insurance Institute for Highway Safety has been accused in the past of serving the interests of the insurance companies rather than the public, which is why vehicle testing is highly regulated. It has also come under scrutiny for being unfairly hard on motorcycles, but who are we kidding? Motorcycles are not known for their safety features.

New safety requirements

The New York Times noted that there were some major changes in the Insurance Institute for Highway Safety’s list. For instance, last year 94 vehicles were named on the Top Safety Picks list, and this year there were only 27. Furthermore, Toyota and it subsidiaries last year earned a total of 11 Top Safety Picks awards, and this year the company, which includes the Lexus and Scion brands, got none at all.

In order to make the Insurance Institute for Highway Safety’s Top Safety Picks list this year, vehicles had to get a rating of “good” on the roof strength test, which measures rollover protection, was required in order to make the list. “Good” is the highest rating. This change caused Toyota vehicles to be shut out, the length of the list to be reduced dramatically and the Honda Accord to be left off the list after it made the 2008 and 2009 lists.

Auto industry impact

Naturally, safety ratings play a big part for many consumers when they are considering vehicle purchases. After a couple of tumultuous years in the auto industry, the stellar safety ratings for Ford should help the company stay afloat while we ride out the rest of the recession.

Chrysler should be particularly encouraged by its four wins after it had to file for bankruptcy protection this year. Sales of the four vehicles that made the list should help stabilize the company. Those four vehicles are:

• Chrysler Sebring 4-door with electronic stability control
• Dodge Avenger with electronic stability control
• Dodge Journey
• Jeep Patriot with side torso air bags

Check out the full list of vehicles that made the Insurance Institute for Highway Safety’s list in the New York Times’ Wheels column.

Credit cards should be used carefully. However, if you need a car, the incentives available now could make using a credit card to buy a car feasible. (Photo: picasaweb.google.com)

If consumers are in the need of a car, this may be the right time to use credit cards to do it. Most dealerships have huge inventories and no way to get rid of them. The recession has put auto dealers in difficult positions, since most Americans are in no hurry to invest in big-ticket items. That’s great news for consumers who are looking to make an auto purchase. Potential savings on a car are substantially greater and selections are huge. Most auto dealers are making generous deals, with cash-back options and low financing rates. Cars that once were marked up are now being marketed at well below the sticker price, and sometimes even lower than the dealer’s cost.

Scott Painter, CEO of TrueCar, said, “There’s no question that you should get a screaming deal… the slump in sales resulted in discounts so steep that new cars can sometimes be less expensive than comparable used ones.” According to research done by TrueCar, last year dealers sold approximately 21 percent of 2009 models for less that dealer price. This year, that number is up to 25 percent already.

Dealerships Feeling the Pain

Adding to the auto industry climate is the rapid closings of many dealerships. In 2008 there were 1,200 closing dealers, this year GM Corp alone is planning on closing 1,200 to 1,500 franchises. These closings have helped turn the industry upside down. For example, at one time the Range Rover was a high-quality luxury vehicle. Now, there are fleets of the vehicles available with $12,000 cash-back on purchases. This isn’t the only vehicle with this kind of savings. Cadillac’s CTS sedan comes with $7,000 in incentives, while Ford’s 2010 Transit Connect vans are already coming with a $300 cash-back special.

Credit Cards: A Near Necessity

Credit cards are almost a necessity in today’s world. Many people use credit cards for everything from everyday purchases to big-ticket necessities. Although the recession has taken its toll on the credit and lending industry, companies are trying to right their wrongs and help customers make purchases. Recently, the federal government has stepped into the credit card mess, citing unscrupulous activities and demanding changes. Credit card companies understand how bad they look in the eyes of the public due to their dodgy dealings. Some companies are cutting customer’s limits, but also bringing down interest rates to make payments more manageable. They want to have customers who continue to pay on their bills, rather than just file bankruptcy or abandon the accounts.

Because of this, credit cards are slowly being used once again to fund high-ticket items like cars. With the overwhelming discounts and deals available, this is a wise choice for some consumers. Lilah Branson of Nashville, Tennessee said, “I need a car and I wasn’t planning on buying on in the recession. But then I saw the deal my credit card company offered and the deal the dealership had…combined, the deals were too good to pass up.”

Things are Slowly Picking Up

Credit cards are helping people again, slowly integrating back into everyday use. No one knows the where economy will be once the recession is completely over, but consumers are steadily getting their feet wet and wading back toward normalcy.