Used Cars

CPO Lambo the Way to Go?

I've always liked Lamborghinis better than Ferraris. I have no rational basis for feeling this way. Oddly enough, that makes me the perfect Lambo client; except for the "I have no money" part. But let's say you have a bit of extra cash/credit/cocaine lying around the McMansion, but you're still a couple of tens of thousands of dead presidents short of the $201k needed to purchase the (now) entry level Gallardo LP560-4. You could by a Porsche. But that's a bit like spicing-up your mac & cheese with a can of tuna. Fear not! Lamborghini has a solution for you: a certified pre-owned (CPO) purchase program! Imagine, all the joy inherent to a dealership experience plus the calming charms of buying a used Italian supercar. How could you lose? After all, Ferrari and Maserati have had similar programs in place for years. Of course, paying a monthly nut for a used bull will still cost an arm and a leg and a lucky lotto ticket. How much? If you have to ask, you have to ask. Only we can't tell you and neither can Lamborghini. But when they can, we will. Any guesses?

Motor Authority »

Posted in Marketing | News Blog | Used Cars | 10 comments

GM Stops Building GMC Yukon, Denali, Sierra, Heavy Duty; Chevrolet Tahoe

General Motors has stopped production of the lion's share of their 2008 truck line-up. Automotive News [AN, sub] reports that GM's told its dealers that "the allocation volume for the Dealer Order Submission Process cycles beginning May 8, 2008, and May 15, 2008, have been canceled." Translation: the American automaker will no longer fill orders for the vehicles listed above. The General blames the shutdown on the ongoing United Auto Workers (UAW) strike at American Axle, which has caused a paucity of parts. The situation could be worse for GM, but it's hard to see how. Even thought the strike and resulting shutdown provide a convenient excuse for GM to cut production on an entire genre of vehicles– vehicles that can't be sold at a profit, or, indeed, sold– GM's cash burn demands some kind of cash flow. From one perspective, there is no end in sight to General Motors' North American profit drought. "If the [American Axle] strike continues, there might be additional production cuts," GM spokeswoman Susan Garontakos admitted to AN. From another perspective…

Automotive News [sub] »

Posted in Chapter 11 | News Blog | Used Cars | 31 comments

Chevy Malibu Poaching Sales From The Japanese

For every cloud there's a silver lining, or so goes the expression. Well, we learned earlier that GM managed to lose itself $3.25 billion in the first three months of the year. Oops. One upside: they're used to it. The other: the born-again Chevrolet Malibu seems to be doing what no domestic sedan has been able to do since Robocop's Taurus. Yes, the new 'Bu's pilfer sales from the Japanese marques. J.D. Power reports [via the lads at Motor Authority] that (nearly) 20 percent of the cars traded-in for new Malibus are foreign nameplates. That's up from 12.5 percent. And the Bu buyers weren't just trading in their Kias and Hyundais, either. Toyondissans accounted for 9.7 percent of the cars used as partial down payments for the Americanized Opel. [NB: What they didn't say is that almost 60 percent of the trades were GM products.] End of the beginning? Beginning of the end? Regardless, more like the Malibu seems to be the only path worth taking.

Motorauthority »

Posted in News Blog | Sales | Used Cars | 29 comments

SUV Trade-In Values Plummet

As U.S. fuel prices head for $4 a gallon, US News and World Report takes a look-see at SUV resale values. The mag divines that weakening demand has dramatically eroded resale values. (Ya think?) Citing a CNW Marketing Research study, USN&WR says March sales of used SUVs are down 14 percent from last year, after dropping eight percent in the first two months of this year. The story also kicks some journalistic tires at used car lots, where dealers no longer want to stock large vehicles. A Sales Manager from a Florida Chrysler/Jeep dealer says "some large vehicles are dropping thousands of dollars in value each month… Anything diesel has dropped $5,000 in the past five months." So where are all the body-on-frames going? Overseas, according to the Sales Manager of a Florida Nissan dealership. Apparently (hey it's a used car dealer), the store's been exporting about one car a month" in recent years. But this year they average "roughly 10." (Roughly? Would that be, say, five?) Add nasty depreciation onto huge operating costs, and it's not hard to not see the future of the SUV.

US News and World Report »

Posted in News Blog | Sales | Used Cars | 34 comments

Autotrader Find of the Day: $3m FX35

Did you just win the lottery? Has Ed McMahon been knocking at your door? Wondering what to do with your newfound wealth? Autotrader has just the thing: a wide selection of vehicles priced at over $1m. Want some examples? Scope out these deals:

2006 Infiniti Fx35 AWD - $3,058,100
2006 GMC Yukon XL Denali AWD - $2,966,995
2005 Nissan Altima - $1,497,014
1993 Honda Civic DX Coupe - $1,250,000
1995 Saab 9000 CS Turbo - $1,111,111

These bargains and many more like them are just a mouse click away!

(Sales Tax, Title, License Fee, Registration Fee, Dealer Documentary Fee, Finance Charges, Emission Testing Fees and Compliance Fees are additional to the advertised price)

Posted in Marketing | Media | News Blog | Sales | Used Cars | 12 comments

Canadian Feds to Spend $90m on Clunker Recycling

CTV.ca  reports that John Baird, Canada's firebrand Minister of the Environment, has green-lighted a $90 million vehicle scrappage program. In essence, the objective of the program is to encourage Canadians to trade in their high-emission beaters in favor of credits on a new car. CTV notes that "[t]hese older vehicles make up just a fraction of the estimated 18 million vehicles in Canada, but they account for up to two-thirds of the pollution that causes smog." There is a current mish-mash of recycling programs in Canada, but the new legislation aims at creating a national, uniform program for beaters nationwide. Though one can't argue with the aesthetic merits of getting some of the ancient, rusted-out Pontiac Parisiennes off Canadian roads, one has to wonder about how enticing any recycling credits would really be. All of those clunkers, being fully depreciated and cheap to insure, have  very low cost of ownership, which usually (and easily) offsets any extra fuel costs. Unfortunately, specifics of the plan have not been announced by the Federal government, which makes any assessment of its effectiveness difficult, at best.

CTV.ca »

Posted in Canada | Green | News Blog | Used Cars | 16 comments