Browse by Tags
All Tags » Buying & leasing ( RSS)
-
|
General Motors happily reports that since launching their 60-day love-it-or-return-it guarantee, only one buyer from 150,000 new-vehicle purchases has returned their new GM car, and actually he exchanged it for the same car but with a different transmission. “Out of hundreds of thousands, the people who've selected the 60-day guarantee were in the hundreds,” GM's marketing chief Bob Lutz said during a press conference Wednesday. “We have had one substantiated return of a vehicle.” Actually, of the 150,000 vehicles sold since the sales campaign debuted, only 100 people have opted for the 60-day return offer. The rest of the buyers each chose to take $500 cash. That's $74,900 in sales incentive "costs" the the automaker ... about the value of one nice Vette or a CTS-V ... and an indicator that a lot of people love cash and/or have faith they'll be happy with their new GM purchase decision 60 days down the road. ~ Deborah Neal, Editorial Director, autoMedia.com
|
-
|
General Motors declared that it would swiftly wind down the Saturn brand and dealer network by the end of January 2010, in reponse to Penske Automotive Group walking away from a purchase arrangement. (Read: “ Penske Ends Bid to Buy Saturn, GM to Discontinue Brand .”) Without a buyer, GM felt is had no choice but to quickly dismantle the “Different Kind of Company,” swiftly rendering it another footnote in automotive history alongside Pontiac. Saturn will build no more vehicles. It currently has a standing inventory of 12,000 units. Other GM franchises are authorized to service Saturn vehicles and honor warranties. It may be a great time to get a deal on a Saturn, though their value will be negatively impacted by the wind down and long-term parts availability may create risks, particularly for unique models like the Sky or Astra that are not shared with other GM brands. Some current Saturn dealers may continue to offer service, should they remain in business. If you visit your local dealership, wish them well and buy a souvenir. Read our Astra , Aura , Sky , and Vue reviews .
|
-
|
Maybe it was a marketing ploy, or maybe GM's marketing chief Bob Lutz had a change of heart. After announcing that GM would not be holding the fall season truck sale in order to focus on their new "May the Best Car Win" campaign, Lutz has decided to hold a fall truck sale after all, starting tomorrow, September 25th. So what is GM said to be offering you on Chevrolet and GMC trucks? According to a report today in Automotive News: $1000 cash on many GMC 2010 trucks, crossovers and SUVs, including Buick Enclave $500 cash on 2009 and 2010 GMC Canyon pickup trucks Zero percent financing for 60 months on all Chevrolet Silverado and Colorado trucks, plus the 2010 Chevrolet Malibu sedan $1500 cash on 2010 Chevrolet Malibu models $1000 on 2010 Chevrolet Impala sedans, Traverse crossovers, Tahoe and Suburban SUVs, and Silverado and Avalanche trucks The caveat right now, according to some Chevrolet and GMC dealers, is that they currently do not have a lot of 2010 models in stock. The fall sale ends November 2, 2009. Ford's fall truck sale opened September 10 and ends October 5, 2009, with incentives as much as $4500 on F-150 model line trucks and $5000 on F-Series Super Duty...
|
-
|
As another step towards boosting consumer confidence in the brands, General Motors will now offer a Satisfaction Guarantee to eligible buyers of new Chevrolet, Buick, GMC and Cadillac vehicles which allows customers to return their vehicle between 31 and 60 days of purchase and receive a refund of the purchase price for the vehicle. The new Satisfaction Guarantee is in addition to GM's existing warranty coverage, which includes a transferable 100,000-mile/five-year (whichever comes first) limited powertrain warranty, roadside assistance, and courtesy transportation. The warranty is part of GM's larger "May the Best Car Win" marketing campaign that demonstrates the manufacturer's confidence in its vehicles when compared head-to-head with the most competitive vehicles in each vehicle segment. The moneyback guarantee will be offered between September 14 and November 30, 2009. "We're putting our money down that if people buy one of our vehicles and don't absolutely love it, we'll take it back. We will stand behind them both in the short-term and over the long haul," said Bob Lutz, GM vice chairman, Marketing and Communications. It's clear...
|
-
|
It's the week ending September 4, and we've browsed our favorite automotive blogs all week long to gather a collection of what we feel is the highlight from each. Cash for Clunkers and Papa John's Camaro remain in the headlines for another week, and David E. Davis says he wishes Jean Jennings was dead, but besides all that, we've also got plenty of other unusual news sure to delight the automotive fan. Cash for Clunkers rebates undoubtedly fueled robust August car sales , with manufacturers showing increased sales over the same time period a year ago, and even better increases over their sales just one or two months ago. Motor Trend's Todd Lassa shares an astute analysis of these figures , with detailed insights into the best-selling models and manufacturers. Classic Car Examiner Jim Cherry knows cars have had a long and colorful history on TV from the 1966 Batmobile, to Entourage's Maserati Quatroporte, to Starsky & Hutch's Grand Torino. Knight Rider's Kitt car was so popular that Hasselhoff's series was revived years later in the vain hope of selling more lunchboxes. The right car makes the right statement on TV. They hop things up, express...
|
-
|
By all the reports we've seen from the Department of Transportation and other automotive blogs, the Car Allowance Rebate System (CARS) program was " wildly successful " at driving consumers towards dealerships. With nearly 700,000 vehicle transactions utilizing "Cash for Clunkers" trade-ins, not to mention standard purchases that didn't include the government-subsidized rebates, it's clear that manufacturers benefited from a giant sales infusion during the month of August. When comparing sales figures for August 2009 against August 2008, Ford was the most successful American manufacturer with an increase of 16.99 percent (182,149 units sold) for all of Ford Motor Company and a 21.25-percent jump for just the Ford brand itself. Toyota Motor Company and American Honda were up 6.41 (225,088) and 9.93 (161,439) percent respectively. Unfortunately, even with the incentives, some manufacturers still sold fewer cars than they did a year ago, notably Nissan North America was down 2.93 percent (105,312 units sold), Chrysler was down 15.43 percent (93,222), and General Motors was down 20.19 percent (246,479) from a year ago. (Many thanks to John Neff at AutoBlog...
|
-
|
Barely a month after The Car Allowance Rebate System (CARS) program was first enacted, the second leg of the pivotal program also known as "cash for clunkers," wrapped up boasting nearly 700,000 car sales and improved fuel efficiency....
|
-
|
The Car Allowance Rebate System (CARS) program, known as “ cash for clunkers ,” has ended. Both government and industry are struggling to emerge from the paper trail left behind by the sales frenzy that saw $3 billion in federal incentives vaporize in just a few weeks. Preliminary figures released this week show that 84 percent of trade-ins under the program are trucks, and 59 percent of new vehicle purchases are cars. Consumers were drawn to fuel-efficient models, averaging a 9.2 mpg improvement from the clunker to the new vehicle. Looking at the top 10 most popular purchases, the list is dominated by thrifty, compact sedans such as the Toyota Corolla, Honda Civic, and Ford Focus. Further, hybrid vehicles accounted for 4.5 percent of new vehicles purchased under the program compared to 3 percent of all new vehicle sales in June 2009. Interestingly, more than ¾ of those buying a hybrid were replacing an SUV or truck. But the key question is, what automakers most benefited from the sales? While the Department of Transportation points out that 54 percent of the top 10 vehicles sold were manufactured in the United States, the sales breakdown shows that that import companies Toyota and...
|
-
|
As of 8 p.m, EST tonight, the Car Allowance Rebate System (CARS) program ended. Considered a success by the auto industry, politicians, and more than 600,000 car buyers, the so-called cash for clunkers program burned through $3 billion in federal funding quicker than anyone predicted. Remember when the original $1 billion had a rundown deadline of November 1st? Hard to believe. The final figures may still be a days away, but the Department of Transportation has shared tabulations made as of this morning, showing 635,186 dealer transactions submitted for credit, worth $2.65 billion. Over half (54%) of the top 10 new vehicles purchased under the program were manufactured in the United States. On average, the new vehicles showed a 9.2 mpg, or 58 percent, fuel economy improvement. Needless to say, the program worked far better than anyone anticipated at moving consumers out of old, “dirty” trucks and SUVs and into new more fuel-efficient cars. The massive mileage improvement makes more sense when looking at the three most popular purchases, all very miserly models. Top 10 New Vehicles Purchased * Toyota Corolla Honda Civic Ford Focus Toyota Camry Hyundai Elantra Toyota Prius Nissan Versa...
|
-
|
All good things must end. The first phase for Car Allowance Rebate System (CARS) saw $1 billion in federal car-sales stimulus drained in less than two weeks. Congress quickly approved $2 billion to keep the momentum going, with Obama signing into law on August 9th . Now, U.S. Transportation Secretary Ray LaHood has announced the cash for clunkers program will come to a close on Monday, August 24th at 8 p.m. EDT. “This program has been a lifeline to the automobile industry, jump starting a major sector of the economy and putting people back to work,” Secretary LaHood said. “At the same time, we’ve been able to take old, polluting cars off the road and help consumers purchase fuel efficient vehicles.” As of today, the CARS program has recorded more than 457,000 dealer transactions worth $1.9 billion in rebates. John McEleney, chairman of the National Automobile Dealers Association (NADA), issued the following statement: “Today, the Administration announced the submission deadline for all ‘cash for clunkers’ applications. Regardless of when the transaction is consummated, the application must be submitted before the deadline to be considered for funding. “However, the National Highway...
|
-
|
President Obama has signed into law H.R. 3435, a bill that extends the Car Allowance Rebate System (CARS) with $2 billion more in funding. This bill doubles the original $1 billion in funding that sparked a new car sales wave. Late Friday, the National Highway Traffic Safety Administration (NHTSA) announced that 245,384 CARS credits had been requested, totaling $1.03 billion. The extension came just in time to continue the offer through the weekend. (See: “ Cash for Clunkers: Senate Approves $2 Billion Extension .”) Obama said, “Now, more American consumers will have the chance to purchase newer, more fuel-efficient cars and the American economy will continue to get a much-needed boost. ‘Cash for clunkers’ has been a proven success: the initial transactions are generating a more than 50 percent increase in fuel economy; they are generating $700 to $1000 in annual savings for consumers in reduced gas costs alone; and they are getting the oldest, dirtiest and most air-polluting trucks and SUVs off the road for good. Businesses across the country – from small auto dealerships and suppliers to large auto manufacturers – are putting people back to work as a result of this program.” From...
|
-
|
In a last-minute vote before August recess, the U.S. Senate approved H.R. 3435, a bill that extends the Car Allowance Rebate System (CARS) with $2 billion more in funding. The bill was passed with 60 yeas and 37 nays. It now goes to President Obama for signing into law. Obama has been a strong proponent of the cash for clunkers extension, and it is expected that he will swiftly put pen to paper. Government officials had forecasted that the initial CARS funds would have run dry this Friday. It is estimated that upwards of 500,000 clunkers could be traded in and replaced with more fuel-efficient, and likely safer, vehicles as a result of this continuation. The original program has exceeded expectations, fueling a massive sales rush over the past few days. Buyers have been exchanging older, worn-out SUVs and pickup trucks for fuel-efficient small and midsized cars. Chrysler, Ford, and General Motors have claimed 45 percent of the CARS sales during this period. (See “ Cash for Clunkers – Top 10 Trade Ins, Purchases .”) "Our customers and dealers appreciate Congress' help in keeping the program's momentum going and providing the stimulus to put more clean, fuel-efficient vehicles...
|
-
|
The Insurance Institute for Highway Safety ( IIHS ) has tested bumpers on several midsized family sedans for repair costs, finding not one of the six models earned a top rating of Good. This is the second group of vehicles the Institute has evaluated under a new bumper ratings protocol based on repair costs averaged and weighted to reflect real-world damage and insurance claims frequency. (See “ Small Cars Can Be Costly to Repair .”) A series of four tests were conducted: front and rear full-width impacts at 6 mph and front and rear corner impacts at 3 mph. These tests are designed to drive bumper improvements, though they also highlight the potentially significant costs of a minor bump. Bumpers on 2009 models of the Honda Accord, Hyundai Sonata, Mazda 6, and Nissan Maxima performed better than their 2007 predecessors in low-speed crash tests conducted by the Insurance Institute for Highway Safety. Bumpers on the 2009 Chevrolet Malibu and 2010 Ford Fusion did worse than earlier models. None of the six popular midsize sedans earns the top rating of Good in a recent series of tests designed to assess and compare how well bumpers resist damage in everyday fender-benders. Bumpers on 2009...
|
-
|
Automaker Web sites often showcase the latest Flash-based bells and whistles, but Ford really out did itself with the “ 2010 Experience Customizer .” In just a quick minute, or two if you’re detail oriented, a user can customize a Mustang with color, decals, body kit, wheels, spoilers, and all the usual trim bits. Where it truly stands out is with a gritty background that can be modified to show burnout marks, graffiti, and distant landscape. The finishing touch: just the right tire smoke. The image can be sent to friends, or downloaded as a wallpaper. Should you be in the market for a Mustang, you can download a pdf detailing the modifications you made to the virtual pony car. Very cool, and well worth the visit. Check out the car we made . Could this be part of the reason Mustang has been selling strong against the Chevrolet Camaro and Dodge Challenger ? (Read " Muscle Car Sales Shootout – Which is the Most Popular? ") If this gets you interested in buying a pony car, read our 2010 Ford Mustang review .
|
-
|
The CAR Allowance Rebate System (CARS), popularly known as “ cash for clunkers ,” is widely regarded as a success, and now we have further proof. In “ Cars for Clunkers Works, Time for a Sequel? ” we chronicled the July sales that were buoyed from the program. We now have more detailed information on what vehicles were purchased, with refined figures by brand. Thus far, 83% of trade-ins under the program are trucks, and 59% of new vehicle purchases are cars. Nearly half of new vehicles purchased under the program were from the Big 3. Detroit’s share in this program (45%) is equivalent to their overall share in the auto market (about 45%) – a couple points less than indicated in published reports yesterday. Looking at the product mix, the trade ins are all traditional, high-volume models from domestic brands. The popular purchases are from several brands, skewing toward the imports. On average, the new models boast 63% better fuel economy than the models turned in. A whopping 184,304 vehicles have been exchanged through this program, with car buyers benefiting from $775.2 million in credits. The program is still in effect, with some money remaining. The Senate is expected to pass a ...
|
More Posts Next page »
|