Autoblog

eBay Motors begins offering free vehicle history reports from Experian

Michael Harley — Wed, 11 Nov 2009 17:29:00 EST

Consumers wary of purchasing vehicles off eBay may take a bit of comfort in the online auction site's announcement that all vehicles built since 1981 will now include free vehicle history reports effective today. The "AutoCheck" information, supplied by Experian Automotive, will detail whether vehicles have been involved in major accidents, have salvage titles, have been stolen or repossessed, have had their odometers tampered with, or have seen special duty as a taxi or police vehicle. Of course, the service is only able to detail information which has been reported, a common complaint about vehicle history reports. Nicolas Franchet, senior director of U.S. vehicles at eBay Motors, says the free reports will help build the level of trust between the buyers and sellers. "We're interested in being the best place to buy and sell your car online," Franchet said.

Those familiar with eBay Motors will recall that the site has offered vehicle history reports from CarFax, Inc., when supplied by dealers. Those reports are still be available via a link, but the new AutoCheck data supplied without charge is now automatically displayed in a shaded area below the vehicle image in the body of the listing. For more details, check out the official press release after the jump or eBay Motors.

[Source: Experian Automotive | Image: Sean Gallup/Getty]

Continue reading eBay Motors begins offering free vehicle history reports from Experian

eBay Motors begins offering free vehicle history reports from Experian originally appeared on Autoblog on Wed, 11 Nov 2009 17:29:00 EST. Please see our terms for use of feeds.

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STUDY: Used car prices reached all-time high in September

Chris Shunk — Tue, 13 Oct 2009 16:58:00 EST

Filed under: Car Buying, Earnings/Financials

New car sales have been in a downward spiral for over a year now, and the big beneficiaries appear to be used cars (and repair shops). A study by Manheim Consulting shows that the company's Used Vehicle Value Index has risen to a record high of 118.5 in the month of September, up 1.8% versus August. That's the ninth straight increase this year, as Manheim's index has steamrolled northward by 6.9% over the past 12 months.

New car sales have risen in part because many car buyers have decided to save money by buying used vehicles instead of new models, shrinking the supply of used vehicles on the market. And since fewer customers are buying new cars, dealers are left with fewer trade-ins. The month of September was especially impactful because many of the car-buyers who did buy new cars and trucks used Cash for Clunkers, and all of those vehicles ended up at the neighborhood crusher, not the used car lot.

Manheim's report also shows that both new and used vehicle inventories are down, which explains why new car incentives have been sliding as well. And with fewer incentives on new vehicles, used vehicles become a more attractive option, except there aren't many pre-owned units on the market. Used vehicles are going to auction with higher overall miles as well, a trend that is to be expected with the lack of vehicles coming off leases. According to Manheim, in January, the average auction car had about 51,000 miles on the odometer. That number has steadily increased over the past nine months to the point where an average auction vehicle now has closer to 63,000 miles on it.

With few used cars on the market and those models that are left tending to be of the higher mileage variety, it makes some sense that some automakers are becoming bolded in their volume projections for next year. Head over to Manheim Consulting for more info on its used vehicle index.

[Source: Manheim Consulting | Image: Justin Sullivan/Getty]

STUDY: Used car prices reached all-time high in September originally appeared on Autoblog on Tue, 13 Oct 2009 16:58:00 EST. Please see our terms for use of feeds.

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2010 Ford Taurus reportedly enjoying strong early sales in California

Chris Shunk — Thu, 08 Oct 2009 10:20:00 EST

Filed under: Car Buying, Sedan, Ford

2010 Ford Taurus - Click above for high-res image gallery

We've already established that we feel the 2010 Ford Taurus is a lot more interesting than the boring and benign model it replaced, and sales totals are starting to reinforce our findings. September's sales tally revealed that the new Blue Oval flagship received a 60% sales increase versus September of 2008, and while the fact that the top sales market for the Taurus is Metro Detroit is no surprise, second place is likely the real prize. The Taurus is reportedly red-hot in sunny California, and some dealers are having trouble keeping the super-sized sedan in stock.

That's obviously a great problem to have, and Ford spokesperson Amy Marentic told the Detroit Free Press that there is a simple reason why supplies are short: "The older Taurus ... did not move and really wasn't relevant in California." Galpin Ford vice president Beau Boeckmann was a bit more direct in his reasoning, adding "We went from a frumpy car that did not have a southern California appeal to a car that everybody is in love with." Ford says it is also seeing good news on the options front, as it says 95% of customers are ordering uplevel models or are at least adding extras. A significant 25% of customers have reportedly opted to add Ford's excellent navigation system, up from only 4% on the outgoing Taurus.

We're not so sure "everybody" loves the new Taurus, as it's still a big rig that won't ignite the passion of most enthusiasts, but that isn't really its lot in life anyhow, and we can at least say that the new model ought to receive far more love than the neutered bull it replaced. Hat tip to Yaroukh!

Gallery: First Drive: 2010 Ford Taurus

Photos Copyright (C)2009 Chris Paukert / Weblogs, Inc.
[Source: Detroit Free Press]

2010 Ford Taurus reportedly enjoying strong early sales in California originally appeared on Autoblog on Thu, 08 Oct 2009 10:20:00 EST. Please see our terms for use of feeds.

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Is BMW poised to take the luxury sales crown from Lexus?

Chris Shunk — Tue, 08 Sep 2009 19:28:00 EST

Filed under: BMW, Lexus

2009 BMW 3-Series - Click above for high-res image gallery

Lexus has been the undisputed king of luxury automotive sales in the U.S. for the 21st century. It hasn't even been close. BMW has played second fiddle the entire decade, but through the first eight months of 2009, the German luxury car maker has made some major gains on its Japanese luxury competitor. In fact, through August only 2,293 vehicles separate BMW from becoming the new king of the mountain.

BMW's climb to the top of the sales charts comes during a sales downturn the likes of which hasn't been seen in decades, yet the Bavarian automaker has weathered the storm much better than Lexus. BMW sales are down 33,000 units versus the first eight months of 2008, a 28 percent decline. Lexus is down an amazing 40 percent through eight months, a 40,000 unit decline. BMW owes much of its momentum to the venerable 3-Series, which is down 24 percent on the year yet still handily outselling the Lexus IS and ES. Lexus is staying in the lead on the back of its perennially successful RX crossover, which is down only four percent over the year.

While BMW has plenty to be proud of in a down year, catching Lexus is no sure thing. Lexus actually bested BMW by a substantial 3,600 units in August, proof that Toyota's luxury arm is getting stronger as the year progresses. In the end, top luxury sales is only good for one thing, and that's marketing. Lexus has been number one so long that it doesn't even need to brag any more, but if BMW manages to pull out the win in 2009, we're sure there'll be more than a couple celebratory commercials.

Gallery: 2009 BMW 3 Series

[Source: Free Press]

Is BMW poised to take the luxury sales crown from Lexus? originally appeared on Autoblog on Tue, 08 Sep 2009 19:28:00 EST. Please see our terms for use of feeds.

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REPORT: Cash-For-Clunkers dealers instructed to kill engines with sodium silicate

Jonathon Ramsey — Sun, 26 Jul 2009 09:58:00 EST

Filed under: Car Buying, Government/Legal, Earnings/Financials

According to Bloomberg, the National Highway Traffic Safety Administration got wind that some cars being turned in under Germany's Cash-For-Clunkers program were being certified as destroyed, but actually being resold. To prevent that scenario from repeating itself in the U.S., land of Honest Abe, dealers have apparently been instructed to fill the engines of trade-ins with sodium silicate and run them for seven minutes in order to permanently disable them.

Early reports from around the country indicate that Cash-For-Clunkers is having the intended effect, and the authorities want to make sure no one takes undue advantage by making money on the turned-in vehicles. Normally sodium silicate, often referred to as "liquid glass," is used to seal leaks in things like head gaskets, but in this case, it's used to seize an engine that could be well worth reselling. Dealer records will be reviewed by federal agents, and if the dealer is found not to have complied, the dealer will have to pay $15,000 per infraction.

[Source: Bloomberg via Boston.com | Image - Dave7 under CC2.0]

REPORT: Cash-For-Clunkers dealers instructed to kill engines with sodium silicate originally appeared on Autoblog on Sun, 26 Jul 2009 09:58:00 EST. Please see our terms for use of feeds.

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Henderson: GM to experiment selling cars through eBay Motors

Chris Paukert — Fri, 10 Jul 2009 10:58:00 EST

Filed under: Car Buying, Auctions, Marketing/Advertising, GM

As part of its post-bankruptcy rebirth, General Motors plans to "experiment" selling its cars on eBay. At its press conference this morning, CEO Fritz Henderson let slip to members of the media that the automaker is engaged in talks with online auction site eBay "to revolutionize how people buy cars online." According to Henderson, GM has plans to try selling its vehicles online:

"Customers will be able to bid on actual vehicles just like they do in an eBay auction, including the option of choosing a predetermined 'Buy It Now' price... we'll be testing this and other ideas with our dealers over the next few weeks, and hope to expand and build upon them in the coming months... in all cases, our goal is to make the shopping and buying process as easy as possible for GM customers - on their time and their terms. Stay tuned."

Many individual GM dealers already use the auction powerhouse to sell vehicles, so the move isn't completely uncharted territory, but it isn't immediately clear how (or if) the automaker plans to integrate its dealer body within this process. Henderson was quick to reinforce that the company's plans with eBay are just an experiment, so as the CEO says... stay tuned.

Henderson: GM to experiment selling cars through eBay Motors originally appeared on Autoblog on Fri, 10 Jul 2009 10:58:00 EST. Please see our terms for use of feeds.

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REPORT: China passes U.S. in auto sales

Chris Shunk — Thu, 09 Jul 2009 16:57:00 EST

Filed under: Car Buying, Trends, China, GM

Most of the world has been knee deep in a wicked recession for quite a while, and auto sales have been hit especially hard. Here in the U.S., the numbers have been abysmal, as the first half of the year saw only 4.8 million sales through June. China, on the other hand, is running away with the overall sales lead, as the ~~emerging~~ emerged market has added 6.1 million cars and trucks to its still developing roadways. According to The Associated Press, June sales were up 36% over the same period in 2008, and they're up 17% on the year.

The big winner in the market so far this year appears to be General Motors. The struggling Detroit, MI-based automaker has seen its China sales jump by 38% this year; while its U.S. sales have tanked. Industry analysts are predicting that the overall market for passenger cars in China will be between 10 and 11 million units.

Most experts weren't expecting China to pass the U.S. in overall sales for another decade, but the crumbling American auto industry has expedited the power shift, at least for the short term. With 1.3 billion people and a healthy economy, this day was destined to come.

[Source: The Associated Press via Google]

REPORT: China passes U.S. in auto sales originally appeared on Autoblog on Thu, 09 Jul 2009 16:57:00 EST. Please see our terms for use of feeds.

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BREAKING: Chevrolet Camaro outsells Ford Mustang in June

Chris Paukert — Wed, 01 Jul 2009 14:42:00 EST

Filed under: Car Buying, Trends, Convertible, Coupe, Performance, Chevrolet, Ford, GM

Despite having fewer model variations on the market, pent up demand for the 2010 Chevrolet Camaro appears to have been enough to send the bad Bowtie past Ford's redone Mustang in June. Sales figures for the month are beginning to trickle in today, and General Motors says it shifted 9,320 Camaro units last month, as compared to the Blue Oval's 7,632 Mustangs.

Whether Chevrolet's victory will be sustainable over the long haul remains to be seen, but as The General has a backlog of 10,000 sold orders to fill (equating to less than a seven day supply), the streak is likely to continue for at least the next few months. Presently, GM offers just two main Camaro models, the V6 RS and the V8-powered SS, while the Ford Mustang has more bodystyles and trims than you can shake a stick at (arguably making the Camaro's achievement seemingly that much more impressive).

Sales of the third leg of 2009's pony car table, the Dodge Challenger, trail far behind, with just 1,369 units cleared last month.

As the industry heads into the dog days of summer, it looks like America's renewed pony car war is just heating up. Who will take the crown for the whole year? Sit tight, muscle fans.

Gallery: One Night Stand: 2010 Chevrolet Camaro

Gallery: First Drive: 2010 Ford Mustang GT

BREAKING: Chevrolet Camaro outsells Ford Mustang in June originally appeared on Autoblog on Wed, 01 Jul 2009 14:42:00 EST. Please see our terms for use of feeds.

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REPORT: Analysts suggest new vehicles sales could rebound to 10M pace in June

Chris Shunk — Wed, 01 Jul 2009 11:30:00 EST

Filed under: Car Buying, Trends, Earnings/Financials

June auto sales will no doubt be ugly. In all likelihood, the sixth month of the year will be the 24th month in the past 25 to see a year-over-year sales decline. June could also bring a bit of good news, though, as an Automotive News poll of nine different industry analysts shows that sales may hit an annualized rate of 10 million, up from the 9.1-9.9 levels of previous months this year.

The slight pickup in June sales verses May numbers would suggest that the market for new cars and trucks has likely bottomed out. Edmunds predicts that the automaker likely to gain much share in June is Ford, as the car research site predicts sales that its sales are down only 15.6%. The next smallest decline is predicted to be Nissan at 24.2%, and then Toyota, Honda, GM, and Chrysler are all guesstimated to be between 28-32%. The June 2009 sales figures will likely be a bit skewed for Honda, though, as the Japanese automaker had an unusually strong June 2008 because of a big-time push for fuel efficient vehicles due to $4 per gallon gas.

Deutsche Bank analyst Rod Lache has told Automotive News that the second half of the year could see even more of an upward trend due to the freshly minted Cash-for-Clunkers law. Lache says sales could hit 11 million on an annualized rate, though it's likely that most people driving junkers can't afford a new car payment along with increased insurance rates.

[Source: Automotive News subs req'd | Image: Karen Bleier/AFP/Getty]

REPORT: Analysts suggest new vehicles sales could rebound to 10M pace in June originally appeared on Autoblog on Wed, 01 Jul 2009 11:30:00 EST. Please see our terms for use of feeds.

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POLL: 54% of Americans against Cash for Clunkers, 59% expect GM quality to dip under gov't. ownership

Chris Paukert — Tue, 23 Jun 2009 14:29:00 EST

Filed under: Car Buying, Government/Legal, Chrysler, GM

America's "Cash for Clunkers" bill is on the cusp of being signed by President Obama, but according to a new survey by Rasmussen Reports, a majority of U.S. citizens aren't in favor of the plan.

According to the telephone survey, fully 54% of those queried are against the measure, while 35% are in favor and 12% aren't sure how they feel about it. That's up from a similar survey done last month, in which just 34% were against consumer vouchers for trading in older, less efficient cars and trucks. In fairness, Rasmussen Reports indicates that the change could have been influenced by a change in the wording of the respective surveys (the initial survey did not indicate how much the program might cost the government).

While that news may not perk up the spirits of Capitol Hill, the survey's findings that 17% of those asked say they are "very likely" to purchase a new vehicle this year because of the program (and a further 18% admit they are somewhat likely) ought to cheer up a few members of Congress.

Perhaps most interesting of all is news that many Americans would appear to have little faith in the ability of the government to help General Motors improve its fortunes, with 41% expecting for GM's quality to deteriorate under federal ownership. (Presumably, this leaves 59% of those surveyed that feel otherwise or are undecided). Perhaps more damaging is that the study's findings say that fully 57% of those questioned believe that the government is likely to pass laws and regulations that give Chrysler and General Motors unfair advantages over other automakers that did not receive bailout funds.

Oddly, Rasmussen Reports' findings to not disclose the number of people it surveyed, or any +/- accuracy estimates. Perhaps one has to have a 'premium membership' to get access to that data. In any case, check out the link for more of the study's findings.

[Source: Rasmussen Reports via Instapundit | Image: Matt Cardy/Getty]

POLL: 54% of Americans against Cash for Clunkers, 59% expect GM quality to dip under gov't. ownership originally appeared on Autoblog on Tue, 23 Jun 2009 14:29:00 EST. Please see our terms for use of feeds.

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Analysts: There's no guarantee that Cash-for-Clunkers will really drive car sales

Sebastian Blanco — Mon, 22 Jun 2009 16:00:00 EST

Filed under: Car Buying, Government/Legal, Green

Now that the so-called Cash-for-Clunkers bill is ready for President Obama's signature, attention is turning to how much of an impact the negotiated bill will actually have on U.S. car sales. There are a lot of positive stories about the bill floating around - headlines hopefully implore that the bill might "jumpstart U.S. auto sales" and claim "Has Uncle Sam got a deal for you." But will the law, with its fairly tight requirements, really stimulate sales? Some auto analysts don't think so.

Four analysts interviewed by Automotive News estimate that only 70,000 to 200,000 more vehicles will be sold because of the clunkers bill. According to the detractors, there are three main factors that will likely blunt the bill's impact:

It's just four months long - the law will only offer cash for your clunkers from July 1 until November 1.
While the bill requires the new vehicle to be more fuel efficient than the one you're trading in, the 18 mpg limit on the old ride (details here) doesn't encompass nearly enough vehicles.
The economics of the law don't make a lot of sense in the real world. If you're driving an eligible car, then chances are that you can't afford to purchase a new vehicle right now - even if you can get a $4,500 federal credit on the price. More often than not, it makes greater sense to just buy a used car.

[Source: Automotive News (subs req'd) | Image: KB35 under CC 2.0]
Photo by KB35. Licensed under Creative Commons license 2.0.

Analysts: There's no guarantee that Cash-for-Clunkers will really drive car sales originally appeared on Autoblog on Mon, 22 Jun 2009 16:00:00 EST. Please see our terms for use of feeds.

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REPORT: GM preparing to give more dealerships the axe

Jonathon Ramsey — Fri, 29 May 2009 18:29:00 EST

Filed under: Car Buying, GM, Pontiac, Earnings/Financials, Rumormill

On top of the 1,124 General Motors dealers that will be closed next year, the ailing automaker is reportedly going to announce another round of dealer closings on Monday when its bankruptcy declaration is expected. According to two Automotive News sources, 450 dealers will not see their dealer franchises renewed. For his part, Mark LaNeve, GM's VP of North American sales, said the number would be "less than half that."

No matter the number, it's more of the same bad-yet-necessary news being spread around. LaNeve notes that the dealers who won't be renewed "have very specific issues" including "specific performance issues." Among them are supposed to be some stores that are skewed exclusively or heavily Pontiac. These dealers will be shutting up shop when their franchise agreements expire in October 2010.

[Source: Automotive News -sub req'd | Image: Mark Ralston/Getty]

REPORT: GM preparing to give more dealerships the axe originally appeared on Autoblog on Fri, 29 May 2009 18:29:00 EST. Please see our terms for use of feeds.

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GM slashes Canadian dealership network by 42%

Chris Paukert — Thu, 21 May 2009 10:57:00 EST

Filed under: Car Buying, Hirings/Firings/Layoffs, GM, Earnings/Financials

General Motors Canada has announced that it has begun notifying its dealer body that it will be culling its sales networks by some 42 percent. The massive cut means that GM's 709 dealers will be trimmed by around 245 stores. The cuts will come as the restructuring automaker will elect to not renew its sales and service contracts come October 2010.

It is not immediately clear how many of those stores are from marques that GM is looking to divest or fold (Hummer, Pontiac, Saab, Saturn), but it is estimated by the Canada Automobile Dealers Association that some 10,000 jobs related may be affected by the cuts. Official press release after the jump.

[Sources: CBCNews; General Motors]

Continue reading GM slashes Canadian dealership network by 42%

GM slashes Canadian dealership network by 42% originally appeared on Autoblog on Thu, 21 May 2009 10:57:00 EST. Please see our terms for use of feeds.

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BREAKING: GM reportedly set to confirms it will pink-slip 1,100 dealers [*UPDATED]

Chris Paukert — Fri, 15 May 2009 09:57:00 EST

Filed under: Car Buying, Government/Legal, GM, Earnings/Financials

According to Bloomberg News, General Motors is set to send some 1,100 notices today to U.S. dealers detailing the manufacturer's plans to sever their relationship. The move comes on the heels of yesterday's news detailing fellow beleaguered automaker Chrysler's announcement that they are firing some 25% of their own network (some 789 showrooms).

If the news agency's sources are accurate, those 1,200 dealers have possession of about 120,000 vehicles, or roughly $2.5 billion in unsold inventory. The deep dealer cut is not expected to be the last by GM, who has designs on chopping its dealer network to 3,600 stores (representing a 42% cut) by the end of 2010.

Unlike Chrysler, which is looking to lose its disenfranchised dealers by June 9 (as part of its Chapter 11 bankruptcy proceedings), Bloomberg's source says it expects an "orderly wind-down of the affected dealers over the next year or so," which essentially means that the dealers will close when their inventories are sold-through. In contrast, Chrysler has already said it is under no obligation to reimburse its closing dealers for vehicle, parts, or tooling, though it will try to pair up affected dealers with those that are staying on in an effort to transfer inventory.

*UPDATE: GM has confirmed that it will seek to sever relations with 1,100 dealers, characterizing the affected dealers as "underperforming and very small sales volume" stores. The official word is that GM will not be terminating any dealerships today, but that they will be discussing their plans with dealers over the next few weeks. Official press release has been added after the jump.

[Source: Bloomberg | Image: Scott Olson/Getty]

Continue reading BREAKING: GM ~~reportedly set to~~ confirms it will pink-slip 1,100 dealers [*UPDATED]

BREAKING: GM ~~reportedly set to~~ confirms it will pink-slip 1,100 dealers [*UPDATED] originally appeared on Autoblog on Fri, 15 May 2009 09:57:00 EST. Please see our terms for use of feeds.

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Honda Insight first-ever hybrid to become Japan's #1 selling auto

Chris Paukert — Mon, 11 May 2009 11:27:00 EST

Filed under: Car Buying, Trends, Budget, Hybrid, Green, Japan, Hatchback, Honda

2010 Honda Insight - Click above for high-res image gallery

In a historic move that's sure to irk their archrivals in Toyota City, Honda's new Insight has become the first-ever hybrid vehicle to top the sales charts in Japan. By shifting some 10,481 units last month, the teardrop-shaped model became Nippon's best-selling car in April, a feat no gas-electric car has managed previously. That's according to the Japan Automobile Dealer's Association, which tracks vehicle sales (in the interest of full disclosure, the group's findings exclude 660cc "kei" cars).

Those 10,481 units vaulted the Insight from its slot as Japan's 21st best-selling model in March, a major jump that's likely down to production ramp-up and increased consumer awareness (Honda launched the car on February 2). The Insight, which starts at 1.89 million yen ($19,190) outpaced its brother, the Honda Fit/Jazz hatchback, while Toyota's Vitz (Yaris) finished in third, Ironically, Toyota's Prius rung up in 21st place, but the third-generation model isn't expected to go on sale until May 18, and Toyota has already cut the iconic model's base price in order to be more competitive with Honda's upstart. Press release after the jump.

Gallery: ABG First Drive: 2010 Honda Insight

[Source: Honda]

Continue reading Honda Insight first-ever hybrid to become Japan's #1 selling auto

Honda Insight first-ever hybrid to become Japan's #1 selling auto originally appeared on Autoblog on Mon, 11 May 2009 11:27:00 EST. Please see our terms for use of feeds.

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California town giving away $500 gift cards to buy cars

Chris Shunk — Thu, 07 May 2009 08:58:00 EST

Filed under: Car Buying, Government/Legal

If we knew of a place where you can get a car cheaper than anywhere else, you'd want us to tell you, right? Well, the small town of Tracy, CA is that place. The municipality is giving away 800 $500 gift certificates to any one of the city's car dealerships and the dealers apparently love the program. Sales in the region are down 50% versus previous years, and a Volkswagen store has already closed, and a Cadillac/Pontiac/GMC store is set to follow suit at the end of this month.

While the city is spending $800,000 in public money to fund (including advertising) the program, it won't only serve the dealers. In the past, the city received 20% of its revenue from dealers, and recently that figure is down to 15%. Sales taxes from the sale of cars and trucks also make up 30% of the city's $45 million city fund, which pays for necessary services like police and fire. The taxes paid on the 800 vehicles will pay off a significant portion of the $800,000. Spurring sales at the dealerships will also help save tax-paying jobs, further bolstering the city's finance.

The $500 gift certificates makes Tracy, California a hot spot for car sales. It also illustrates just how important dealerships are to small cities and towns across the US. Thanks for the tip, Jon!

[Source: Tracy Press]

California town giving away $500 gift cards to buy cars originally appeared on Autoblog on Thu, 07 May 2009 08:58:00 EST. Please see our terms for use of feeds.

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FOLLOW-UP: Brother of dealer who died torching own cars found dead

Jonathon Ramsey — Fri, 27 Mar 2009 11:29:00 EST

Filed under: Etc., Earnings/Financials

As we reported earlier, Gregory Graham, a third-generation car dealership owner in Ligonier, Pennsylvania tragically died of a heart attack last month while setting fire to the cars on his lot. His company, Graham Colonial Motors, was evidently burdened by more than a million dollars in liens, in addition to the daily woes of doing business in this business climate.

According to the Associated Press, Graham's partner in the business was his brother, Randolph, who took a job at another dealer not far away when the family business closed, but he disappeared not long after taking the position. Two days later, hunters reportedly found his body inside his car, in the woods. The coroner has not ruled out suicide, and is waiting for toxicology result before announcing the cause of death.

[Source: The Associated Press via Google | Image: AP/Gene J. Puska]

FOLLOW-UP: Brother of dealer who died torching own cars found dead originally appeared on Autoblog on Fri, 27 Mar 2009 11:29:00 EST. Please see our terms for use of feeds.

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Early March sales figures said to be down around 40%

Jonathon Ramsey — Thu, 26 Mar 2009 18:30:00 EST

Filed under: Car Buying, Earnings/Financials

While there are folks predicting a turnaround in car sales and general economic fortunes by the end of this year, for now the status quo remains, and it can be summed up as: "Ouch." J.D. Power has put the early returns for March sales down 40% compared to the same month last year. It predicts sales of 633,000 cars to retail customers and another 165,000 to fleet customers for March of this year versus a March 2008 total of 1.07 million total sales. That would be an annualized rate of 9.2 million vehicles.

J.D. Power thinks "improvements on Wall Street and a boost in consumer confidence will help to bring the market back." We are not experts on the economy, but we don't know where such predictions come from, especially seeing that jobs are still being shed in the tens of thousands and boisterous Wall Street "improvements" are what got us here in the first place. For now, we'll light another candle for the car industry and hope things turn around for everyone soon.

[Source: CNN]

Early March sales figures said to be down around 40% originally appeared on Autoblog on Thu, 26 Mar 2009 18:30:00 EST. Please see our terms for use of feeds.

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Hyundai CEO says early Genesis Coupe sales numbers are "simply smoking"

Michael Harley — Mon, 16 Mar 2009 10:58:00 EST

Filed under: Car Buying, Coupe, Performance, Hyundai

2010 Hyundai Genesis Coupe - Click above for high-res gallery

"Simply smoking." Those are the exact words that John Krafcik, CEO of Hyundai USA, used to describe early sales of the automaker's new Genesis Coupe during a recent interview with Motor Trend. The highly-anticipated two-door is selling better than the Genesis Sedan, which arrived on the market last year, even though Hyundai has focused more advertising dollars on the larger luxury sedan.

Still a newcomer, the Genesis Coupe is offered in turbocharged 2.0-liter and normally-aspirated 3.8-liter trim. The bulk of the cars on dealer lots have been the V6 models, with the late-to-arrive four-cylinder variants (including the Track model and next year's R-Spec model) yet to make a significant impact on sales. Seemingly undeterred by its $27,500 sticker price, Krafcik says that more than 50 percent of the 3.8-liter buyers are driving home in the loaded Grand Touring model (the entry-level 2.0T starts at just $22,000).

Gallery: 2010 Hyundai Genesis Coupe

[Source: Motortrend]

Hyundai CEO says early Genesis Coupe sales numbers are "simply smoking" originally appeared on Autoblog on Mon, 16 Mar 2009 10:58:00 EST. Please see our terms for use of feeds.

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REPORT: Struggling dealer died of heart-attack while torching his own cars

Chris Paukert — Mon, 09 Mar 2009 13:58:00 EST

Filed under: Car Buying, Etc., Earnings/Financials

With each passing day bringing more tough news about the state of the car companies and the plight of the autoworker, it's sometimes easy to overlook the effect that all of this economic gulag is having on mom-and-pop dealerships across the country. Bringing that idea into stark focus is news that Gregory Graham, a Pennsylvania car dealer recently died of a heart attack while torching cars at his own ailing dealership.

Graham, 61, was found amidst a row of a dozen fire-damaged vehicles on the lot of Graham Colonial Motors early in the morning on Feb. 17, and now police are confirming that the fire was due to arson - rolled up newspapers and a gasoline can were found on the scene.

According to Automotive News, court records indicate that the Pittsburgh-area dealership owed more than $420,000 in 2008 federal tax liens and some $11,000 in county property-tax liens.

The Jeep, Buick, Pontiac dealership closed last week.

[Sources: Automotive News (subs. req); Image: MSNBC]

REPORT: Struggling dealer died of heart-attack while torching his own cars originally appeared on Autoblog on Mon, 09 Mar 2009 13:58:00 EST. Please see our terms for use of feeds.

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