Even with Hurricane Sandy, which cut short vehicle sales on the East Coast in October, automakers largely posted increases last month.
Volkswagen sales were up 22% last month ― the automaker’s best October in nearly 40 years ― even though a quarter of its U.S. dealerships were affected by the storm. Toyota’s sales rose 16%, while Chrysler sales were up 10%.
General Motors sales increased 5%, to 195,764 ― the best October since 2007. About half of GM’s New Jersey dealerships are…Continue
Added by Marcie Belles on November 1, 2012 at 2:30pm — No Comments
Used-car prices have sped up since 2009, accounting for nearly half of retail car and light-truck sales. Now, it seems like the brakes have been applied, as Automotive Lease Guide reported that those prices are dropping following a peak earlier this year.
ALG makes predictions that are used by finance companies and auto manufacturers to design lease deals. The company’s used-car price index dropped to 95 points in 2008’s economic crisis from 118 points in 2007; ALG scales used-car…Continue
Added by Nikki Mascali on September 13, 2012 at 3:30pm — No Comments
As if competition weren't already pressuring margins, Mojo Motors has snared $3 million in series A financing to help expand its vehicle discount site.
Boston-based Mojo Motors operates a free website that guarantees the lowest prices on the internet, granting members access to exclusive discounts on thousands of vehicles and sending personalized alerts when dealers drop prices. When a consumer is ready to buy, he prints a…Continue
Added by Christina Haberstroh on May 22, 2012 at 9:00am — No Comments
Since the collapse of the new-car market in 2008, industry participants have talked about a “new normal” for car sales. The argument was that the prior 17-million-unit sales pace was inflated, and 14 million units was a more appropriate rate based on population figures and driving habits. Manufacturers have since recalculated production volumes and reduced headcount accordingly.
While adjustments were made on the new-car side, the used-car market has been strengthening. Limited…Continue
Manheim’s Used Vehicle Value Index hit its highest level ever in January: 124.9.
Used-car values have exceeded 100 on the Manheim Index since the start of 2009, surpassing 120 six times last year.
Strong auction prices have lowered lenders’ loss severity and have enabled lessors to offer vehicles with higher residual values. The key, though, is trying to…
Added by Marcie Belles on May 14, 2010 at 12:12pm — No Comments