"True Car Inc. estimates used car sales will come in at 3,615,148 in April, up 33.6. percent from March.
Sales are down 2 percent from April 2011 however.
The ratio of new to used is estimated to be 1:3 for April.
True Car expects new light vehicle sales in the U.S. (including fleet) to be 1,195,809 units, up 3.4 percent from April 2011 and down 14.8 percent from March 2012 (on an unadjusted basis).
The April forecast translates into a SAAR of 14.6 million new car sales, up from 13.2 million in April 2011 and up from 14.4 million in March.
Fleet and rental sales are expected to make up 18 percent of total industry sales in April." [Read more]
Thursday, April 26, 2012
Tuesday, April 24, 2012
10 Things Your Car Will Have By 2020
"The 1980s classic film, Back to the Future, depicts a future with flying cars and "skyways." The year: 2015. We don't have a time machine, but we can guarantee that in four years we'll still be using earthbound roads.
And we peered a little further into the future of automotive technology — to 2020, to be exact — to see what features are likely to be big sellers.
Safety will always be a top concern, and car companies will continue to develop technology to help reduce accidents. Government mandates to increase fuel economy and reduce pollution will lead to smaller, less thirsty vehicles, with a high percentage of electrified vehicles on the road. And you'll likely be able to tell your car to check your Facebook page." [Read more]
And we peered a little further into the future of automotive technology — to 2020, to be exact — to see what features are likely to be big sellers.
Safety will always be a top concern, and car companies will continue to develop technology to help reduce accidents. Government mandates to increase fuel economy and reduce pollution will lead to smaller, less thirsty vehicles, with a high percentage of electrified vehicles on the road. And you'll likely be able to tell your car to check your Facebook page." [Read more]
Friday, April 20, 2012
Auto Sales 'Definitely In Recovery Mode' Analyst Says
"Auto retailers outpaced the general market for most of the day Tuesday, posting one of the strongest gains among industry groups.
Many in the group, made up primarily of auto dealership chains, are set to report earnings next week. And while data in many industries have seesawed back and forth, analysts are calling for a strong quarter in the group, based partly on March auto sales numbers, reported early this month, that showed no pullback by consumers.
"We're definitely in recovery mode," said analyst Rick Nelson with Stephens, with sales being driven by record vehicle age and replacement demand, credit availability and more aggressive lease terms, stepped up new product introductions with greater fuel efficiency and healthy trade-in values." [Read more]
Many in the group, made up primarily of auto dealership chains, are set to report earnings next week. And while data in many industries have seesawed back and forth, analysts are calling for a strong quarter in the group, based partly on March auto sales numbers, reported early this month, that showed no pullback by consumers.
"We're definitely in recovery mode," said analyst Rick Nelson with Stephens, with sales being driven by record vehicle age and replacement demand, credit availability and more aggressive lease terms, stepped up new product introductions with greater fuel efficiency and healthy trade-in values." [Read more]
Thursday, April 19, 2012
Chrysler Expands Certification
"Chrysler Group LLC announced the launch of Diversified Certified, a new program that enables Chrysler Group dealers to certify and sell competitive-make, pre-owned vehicles backed with a Chrysler Group warranty.
The 140 Fiat stores now open in the United States are the first to launch the Diversified Certified program. Chrysler, Jeep, Dodge and Ram Truck dealers will join the program in about 60 days.
Consumers looking for the security that a certified pre-owned vehicle offers now need only look to Chrysler Group dealerships and Fiat stores for the widest selection and one-stop shopping.
All competitive-make pre-owned vehicles will be subjected to a thorough certification process and come with a 5-year/60,000-mile maximum care (full mechanical) warranty from original in-service date, as well as Certified Pre-Owned program benefits such as towing, roadside assistance and more." [Read more]
The 140 Fiat stores now open in the United States are the first to launch the Diversified Certified program. Chrysler, Jeep, Dodge and Ram Truck dealers will join the program in about 60 days.
Consumers looking for the security that a certified pre-owned vehicle offers now need only look to Chrysler Group dealerships and Fiat stores for the widest selection and one-stop shopping.
All competitive-make pre-owned vehicles will be subjected to a thorough certification process and come with a 5-year/60,000-mile maximum care (full mechanical) warranty from original in-service date, as well as Certified Pre-Owned program benefits such as towing, roadside assistance and more." [Read more]
Wednesday, April 18, 2012
BMW Expands Recall
"BMW is recalling 2,846 YEAR 2011 5-Series, 5-Series Gran Turismo, model year 2012 6-Series convertible, 7-Series, X5 SAV, AND X6 SAV vehicles equipped with 8- or 12-cylinder, turbocharged, engines because the circuit board for the electric auxiliary water pump can overheat.
This could lead to a smoldering of the pump or an engine compartment or vehicle fire.
BMW will notify owners, and dealers will replace the auxiliary water pump free of charge. The safety recall is expected to begin during April 2012." [Read more]
This could lead to a smoldering of the pump or an engine compartment or vehicle fire.
BMW will notify owners, and dealers will replace the auxiliary water pump free of charge. The safety recall is expected to begin during April 2012." [Read more]
Friday, April 13, 2012
Fuel Economy Improves
"TrueCar.com provided fuel economy numbers from March light vehicle auto sales that indicateTrueMPG increased to 23.4 mpg in March compared to 22 mpg in March 2011, and increased from Februarys 23.2 mpg.
Just four years ago, in March 2008, TrueMPG was 20.3 mpg.
TrueMPG is the companys own measure of fuel economy.
The TrueMPG for vehicles sold by U.S. manufacturers averaged 21.3 mpg in March, up from 20.5 mpg in March 2011. European manufacturers increased their average fuel economy for vehicles sold from 20.5 mpg to 22.7 mpg; Japanese manufacturers increased their average fuel economy from last years 23.6 mpg to 25 mpg; and South Korean manufacturers increased their average fuel economy for vehicles from 26 mpg to 28.1 mpg." [Read more]
Just four years ago, in March 2008, TrueMPG was 20.3 mpg.
TrueMPG is the companys own measure of fuel economy.
The TrueMPG for vehicles sold by U.S. manufacturers averaged 21.3 mpg in March, up from 20.5 mpg in March 2011. European manufacturers increased their average fuel economy for vehicles sold from 20.5 mpg to 22.7 mpg; Japanese manufacturers increased their average fuel economy from last years 23.6 mpg to 25 mpg; and South Korean manufacturers increased their average fuel economy for vehicles from 26 mpg to 28.1 mpg." [Read more]
Thursday, April 12, 2012
Trade-in Values Rise in April
"Trade-in values on used cars are expected to peak over the next few weeks, said Jonathan Banks, executive automotive analyst with the National Automobile Dealers Association (NADA) Used Car Guide.
"While prices for all used-vehicle segments will remain stable over the next two months, compact and mid-size cars will appreciate in value and outpace other segments because of rising gasoline prices, shortage of inventory and strong consumer demand for fuel-efficient vehicles," Banks said.
Used values for the compact and mid-size car segments grew by an average of $300, or 2.6 percent, from March to April, and values have grown by an average of $500, or 4.3 percent, since the start of the year, according to the NADA Used Car Guide." [Read more]
"While prices for all used-vehicle segments will remain stable over the next two months, compact and mid-size cars will appreciate in value and outpace other segments because of rising gasoline prices, shortage of inventory and strong consumer demand for fuel-efficient vehicles," Banks said.
Used values for the compact and mid-size car segments grew by an average of $300, or 2.6 percent, from March to April, and values have grown by an average of $500, or 4.3 percent, since the start of the year, according to the NADA Used Car Guide." [Read more]
Monday, April 9, 2012
Certified Sales Set New Record
"In March, CPO sales broke 170,000 for the first time, reaching a high of 174,471, up 7.7 percent from March 2011, and 16.9 percent higher than February.
There were 28 selling days in March compared to 27 in March 2011 and 25 in February.
First quarter sales were 454,944, 8.4 percent above the first quarter a year ago and the highest quarter ever.
Yearover-year domestic brand share fell to 32.1 percent. European share fell to 16.6 percent. Asian share rose to 51.3 percent." [Read more]
There were 28 selling days in March compared to 27 in March 2011 and 25 in February.
First quarter sales were 454,944, 8.4 percent above the first quarter a year ago and the highest quarter ever.
Yearover-year domestic brand share fell to 32.1 percent. European share fell to 16.6 percent. Asian share rose to 51.3 percent." [Read more]
Friday, April 6, 2012
Wednesday, April 4, 2012
BMW Recalls More Than 300,000 Vehicles
"BMW is recalling more than 300,000 model year 2004-10 5-Series, model year 2004-10 6-Series, Model year 2006-10 M5 and model year 2007-10 M6 vehicles. The insulated bulkhead connector for the positive battery cable may have been incorrectly attached to the trunk floor panel, which can lead to a loosening of the bolt connection. As it loosens, an increase in electrical resistance at this cable connection is possible and could cause the cable connection to overheat.
Overheating could lead to a fire, even while the vehicle is not in use. As a precaution, owners are advised to park outside until the remedy has been made.
BMW will notify owners, and dealers will inspect and secure the battery bolt cable connection as necessary, free of charge. The safety recall is expected to begin in April." [Read more]
Overheating could lead to a fire, even while the vehicle is not in use. As a precaution, owners are advised to park outside until the remedy has been made.
BMW will notify owners, and dealers will inspect and secure the battery bolt cable connection as necessary, free of charge. The safety recall is expected to begin in April." [Read more]
Subscribe to:
Posts (Atom)