One of the things Doug and I wanted to do with this column is to highlight the regional differences in car choices – not just in condition and value but the overall selection. Any surprise that humid, sunny Atlanta has a dearth of Audis while snowy Canada is awash in them?
Tag: derek kreindler
In my rant about the Holden Ute, I qualified my cynicism with a caveat; my tastes are not representative of the broader market, or what makes good business sense for an auto maker. Some of you suggested that I should start injecting more of my own opinions/enthusiasm into these sorts of articles. I am reluctant to mix business with my own automotive fantasyland (after all, everyone with access to a keyboard does just that that), but this post isn’t supposed to be informative or insightful, just pure fun. I am limiting myself to new cars on sale outside the United States and Canada, as there are far too many used cars out there that I’d love to own.
(The idea for this series based on the numerous emails sent between Derek and Doug, containing long forgotten cars that have fallen into a derelict state. While our intrepid authors would love to own these cars should they ever win the Powerball, they find it difficult to actually part with the funds required to take them home, especially given the significant reconditioning required. In addition, you’ll see the difference between a snow belt car and a clean car from the south, as both authors compare examples from their respective locales.)
March was the 5th straight month of a SAAR above 15 million vehicles. Industry analysts have explained the strength of the market in a number of ways. The need to replace older vehicles is one (new car sales were hit hard during the recession as consumers held on to their vehicles for longer. This also caused used car prices to skyrocket, something TTAC has been documenting), while others have cited increasing fleet demand, and the desire to replace vehicles damaged in Hurricane Sandy.
But one factor that is just starting to get attention outside of TTAC is sub-prime financing. Sub-prime lending, which involves giving high-interest loans to customers with poor credit scores, is driving the SAAR in a big way, by letting buyers with poor credit purchase new cars. In turn, the sub-prime bubble is being driven by Wall Street, whose clients cannot get enough of financial instruments backed by sub-prime auto loans.
If you live in the Greater Toronto Area and hate me despite having never met me in person, I am inviting you to come kick my ass – at karting.
Upon receipt of a multi-billion dollar loan from the Canadian government, General Motors signed a “Vitality Commitment”, essentially a covenant in the loan agreement between GM and Canada’s government, which guaranteed that a certain amount of GM’s North American production would remain in Canada. That number is widely reported as being 16 percent, while page F-69 of GM’s IPO filings outlines that the covenant is valid until GM repays its loan commitments or until December 31, 2016, whichever comes later.
While Oshawa has widely regarded as one of GM’s best plants in terms of producing high-quality vehicles, the future of GM’s Oshawa plant is looking increasingly bleak.
A bit of light reading for everyone wishing they were in Geneva, munching on some pain au chocolat while paying $8 for a Nespresso. CAR magazine contributor Stephen Bayley has a very entertaining essay entitled “The End of the French Car“, in which he laments the demise of the quirky, compact French automobile.
The UAW is stepping up their organization efforts at Nissan’s Canton, Mississippi plant by taking their campaign to…Geneva?
Google’s autonomous car program tends to get the lion’s share of attention when discussing the tech giant’s auto initiatives. But lurking in the background is a more immediate project that has the potential to finally “disrupt” (as Silicon Valley types are so fond of saying) online automotive sales.
The 12-person protest that took place at Chrysler’s Warren, Michgan truck plant got little notice in the automotive news cycle, save for a couple of mentions on the usual aggregators. In truth, it’s not the juiciest story to sell in this click-driven wasteland, though these stories tend to raise the most interesting questions. This example highlights an issue that is going to dog the UAW for some time – how will the UAW control their workers when they are also the owners?