Autoblog

Acura TL bursts into flames moments before being traded in at Ontario dealership [UPDATE]

Mark Pereira — Fri, 21 Dec 2012 13:29:00 EST

Filed under: Sedan, Etc., Videos, Acura, Luxury

Watching your car burst into flames before your eyes is never good news, and it's even worse when you're mere moments away from trading it in at the local dealership. This Car-B-Q blaze apparently erupted at Acura 2000, a dealer in Brampton, Ontario. As the video tells us, the unlucky customer saw his 2004-2008 Acura TL trade-in suddenly catch fire and go up in resale-value-killing smoke.

According to the hyped-up cameraman (who evidently works next door at Northwest Lexus) and his eccentric play-by-play commentary, this Acura owner is about to be left without a ride home and might want to consider switching to a Lexus instead.

Scroll down to watch video of the drama unfolding as fire fighters put out the mysterious blaze before anyone - except the car - was harmed.

UPDATE: The owner of the 2008 Acura TL has contacted Autoblog to clarify the video above. Unlike what the narration suggests, he was not at the dealer to trade in his car. According to his email, he had brought in his car earlier for a power steering recall (to prevent a possible fire), and "...within 24 hours of the recall job being completed, the car burst into flames. It was caused by the power steering fluid leaking onto the catalytic converter."

The owner's tale of woe doesn't end there, however. He says that "Acura agrees that the mechanic had screwed up the job, and that is what caused the fire. However, both the Acura dealership and Honda Canada refuse to do anything about the situation. My insurance company was the one to compensate me."

Continue reading Acura TL bursts into flames moments before being traded in at Ontario dealership [UPDATE]

Acura TL bursts into flames moments before being traded in at Ontario dealership [UPDATE] originally appeared on Autoblog on Fri, 21 Dec 2012 13:29:00 EST. Please see our terms for use of feeds.

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Hyundai downscales vehicle buy-back promise

Chris Tutor — Wed, 29 Feb 2012 11:02:00 EST

Filed under: Car Buying, Hyundai, Earnings/Financials, Luxury

Back in April, Hyundai launched the Assurance Trade-in Value Guarantee ensuring every new Hyundai's resale value two to four years down the road. Unfortunately for most folks still shopping for a Hyundai, that program has now ended. Keyword being "most" since Hyundai will no longer ensure the value of their mainline cars, but well-heeled buyers of the Genesis and Equus models can still sleep well knowing their high-end Hyundai will depreciate at a rate comparable to their neighbor's Toyota Avalon.

"It was a marketing program and we wanted to bring a spotlight on the strength of our residual values, and it did its job," John Krafcik, CEO of Hyundai Motor America tells Automotive News.

Residual value consulting agency ALG says the data seems to back that up. Residual value of the Equus is third best in the premium-lux market behind the Lexus LS460 and the Jaguar XJ and the Genesis sedan is second only to the Nissan Maxima among full-sized cars.

Hyundai downscales vehicle buy-back promise originally appeared on Autoblog on Wed, 29 Feb 2012 11:02:00 EST. Please see our terms for use of feeds.

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STUDY: Cash for Clunkers helped Japanese way more than Detroit 3

Michael Harley — Fri, 13 Nov 2009 19:30:00 EST

Filed under: Government/Legal, Chrysler, Ford, GM, Honda, Nissan, Toyota

While there is no question that Obama's Cash-for-Clunkers program accelerated vehicle sales this summer, a new report by the University of Michigan's Transportation Research Institute shows the big winners were from Japan, not Detroit.

According to the study, nearly 85 percent of the trade-ins were from General Motors, Ford, and Chrysler, yet they only sold 39 percent of the new cars moved off the lots. On the other hand, 8 percent of the trade-ins came from Toyota, Honda, and Nissan, manufacturers who accounted for 41 percent of new car purchases.

While these numbers may be justified by the large quantity of inefficient domestic trucks and SUVs that were deemed clunkers, customer loyalty also seems to have taken a big shift. About 68 percent of owners who traded in Toyota, Honda, or Nissan vehicles replaced them with another from one of those Japanese brands, while only 43 percent of consumers who traded in Detroit steel purchased another General Motors, Ford, or Chrysler product. The program cost the U.S. taxpayers about $3 billion.

[Source: USA Today | Image: Justin Sullivan/Getty]

STUDY: Cash for Clunkers helped Japanese way more than Detroit 3 originally appeared on Autoblog on Fri, 13 Nov 2009 19:30:00 EST. Please see our terms for use of feeds.

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Government credits 180,000 sales to Cash-for-Clunkers incentive

Michael Harley — Thu, 06 Aug 2009 06:54:00 EST

Filed under: Car Buying, Government/Legal, Ford, Toyota

Even without a Cash for Clunkers $2 billion extension locked in place by the Senate, the U.S. government bean counters are crediting the auto incentive for moving more than 180,000 vehicles off dealer lots. The big winner so far is Toyota, knocking Ford's Focus off the top-selling vehicle spot with its economy-oriented Corolla sedan.

According to the numbers, more than 80 percent of the traded-in vehicles were light trucks (including SUVs, pickups, and vans), and 59 percent of the purchases are passenger cars... meaning the program is successfully replacing those thirsty vehicles with a class that is a bit more efficient.

The list of top-10 most traded-in vehicles is chock-full of domestic trucks. The soon-to-be-euthanized victims include five light trucks by Ford, three Jeep and Dodge brands, and two Chevys. And lastly, for those keeping track of the decimal points, the new vehicles being sold under the program earn an average 25.3 mpg, while the condemned only brought an 18.5 mpg average to the party.

[Source: Automotive News, subs. req'd]

Government credits 180,000 sales to Cash-for-Clunkers incentive originally appeared on Autoblog on Thu, 06 Aug 2009 06:54:00 EST. Please see our terms for use of feeds.

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Top search on Ford's Cash-for-Clunkers site is... the Mercury Milan?

Chris Shunk — Fri, 10 Jul 2009 19:00:00 EST

Filed under: Car Buying, Sedan, Government/Legal, Ford, Mercury

2010 Mercury Milan Hybrid - Click above for high-res gallery

On June 25, Ford launched its "Recycle Your Ride" website. The site is an easy guide to determine if your vehicle is eligible for Cash-for-Clunkers, and which Ford family vehicles are a good fit as a replacement. So far, Ford says it's had over 250,000 potential customers fill out the short form, and surprisingly, the modest-selling Mercury Milan is in a statistical dead heat with the Ford Fusion for the top replacement vehicle chosen.

To test out the site, we chose a 1997 Ford F-150 with a 4.6-liter V8 engine. Ford's site brought up 16 vehicles eligible for the $4,500 incentive, including the Focus, Escape, Mariner, Taurus, Fusion and Milan. The picking-up-sales-steam Fusion and the underrated Milan currently account for 30% of overall selections, and Ford tells us that the public is split right down the middle on which vehicle they prefer.

While it's quite surprising that the Milan is garnering as much attention as the more popular Fusion, the real proof is in the sales data. We're guessing that the Milan won't outperform the Fusion's 19,000 June sales any time soon.

[Source: Ford]

Top search on Ford's Cash-for-Clunkers site is... the Mercury Milan? originally appeared on Autoblog on Fri, 10 Jul 2009 19:00:00 EST. Please see our terms for use of feeds.

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Hyundai starts accepting Cash-for-Clunkers trade-ins early

John Neff — Thu, 02 Jul 2009 17:28:00 EST

Filed under: Car Buying, Hyundai

2009 Hyundai Elantra Touring - Click above for high-res image gallery

While the National Highway Traffic Safety Administration doesn't plan to release its final rules and regulations for the Car Allowance Rebate System (CARS), otherwise known as Cash-for-Clunkers program, until July 23rd, Hyundai has decided that its customers don't have to wait. Alexandria Hyundai in Alexandria, VA has already accepted the first trade-in and doled out its first rebate. The clunker is a 15-mpg 1995 Ford Explorer, and Katherine Michon of Arlington, VA traded it in for a $4,500 credit on a brand new 26-mpg Hyundai Elantra Touring.

How can Hyundai get away with accepting clunkers early? The automaker is giving dealers short-term cash advances to cover the cost of its rebates until the CARS program officially kicks off later this month. Hyundai has 13 models with particular engine combinations that qualify for CARS, and the NHTSA has already confirmed that transactions on or after July 1, 2009 are eligible.

This could be a brilliant move on Hyundai's part, since its own internal research shows that 11 percent of car shoppers have delayed their purchase to take advantage of the rebates. If Hyundai is the only game in town that's accepting trade-ins and giving rebates early, it could steal a few sales away from other brands that are waiting patiently for the program to officially begin.

On the other hand, the NHTSA warns on the CARS official website that "interested dealers and consumers may want to wait until all of the detailed issues that must be addressed in the implementing regulations are resolved and the final rule is issued." By that time, however, you'll be driving around in a new car and getting reimbursed for the rebate will by Hyundai's problem.

Gallery: Review: 2009 Hyundai Elantra Touring

[Source: Hyundai]

Continue reading Hyundai starts accepting Cash-for-Clunkers trade-ins early

Hyundai starts accepting Cash-for-Clunkers trade-ins early originally appeared on Autoblog on Thu, 02 Jul 2009 17:28:00 EST. Please see our terms for use of feeds.

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Consumer Reports lists clunkers to cash in on

Sam Abuelsamid — Tue, 16 Jun 2009 16:27:00 EST

Filed under: Car Buying, Government/Legal

With Congress on the verge of passing some kind of 'cash-for-clunkers' legislation, it's time to take a look at what cars are worth trading in for the scrappage credit and what models would be better to sell by other means. The good folks at Consumer Reports have come to the rescue. Obviously, a car that has a retail value greater than the corresponding rebate is not worth trading in unless you just can't be bothered to stick a For Sale sign in the window. The CR staff has examined the prices and concluded that pre-1993-94 Cadillac DeVilles, Eldorados and Sevilles are all solid candidates.

One surprise car on their list is the 2001 Lincoln LS V8. The LS was a well-regarded (if blandly styled) sedan in its time. Those looking for a good handling rear-drive alternative to a BMW 5-series would do well to consider one of these at their bargain basement used pricing, and we'd hate to see a good one sent to the crusher.

Perhaps unsurprisingly, CR's truck list is quite a bit longer than their car list, and it includes such winners as the pre-1996 Ford Aerostar and Isuzu Rodeo. Check out the whole list of clunkers-to-vouchers over at CR. Thanks to Richard for the tip!

[Source: Consumer Reports]

Consumer Reports lists clunkers to cash in on originally appeared on Autoblog on Tue, 16 Jun 2009 16:27:00 EST. Please see our terms for use of feeds.

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NADA adds 'Rough' and 'Average' categories for trade-ins

Jeremy Korzeniewski — Sun, 07 Sep 2008 09:03:00 EST

Filed under: Car Buying

It's no secret that the used car market is in a state of flux. As gas prices rise and fall, so does the value of the car currently sitting in your driveway, waiting to be traded in. To help dealerships assign a fair value to your car, the National Automobile Dealers Association has added two new categories for wholesale vehicle market. The new categories are "Rough" and "Average" and they join "Clean Trade-In," "Clean Loan" and "Clean Retail" as options for your ex-vehicle to fall into.

According to NADA, roughly half of all trade-ins will fall into the newly established "Average" category. As you might imagine, "Rough" vehicles have seen a bit more wear and tear than is typical. Then there's the good old "Salvage" bucket for cars which have seen much better days. You won't necessarily know what bucket a dealership is assigning to your particular vehicle as these categories are to be used in the wholesale market only. Still, the dealership is keenly aware that it may need to rid itself of your trade-in and the business-to-business market may be its best bet. In other words, you may be indirectly touched by these new standards.

[Source: NADA]

Continue reading NADA adds 'Rough' and 'Average' categories for trade-ins

NADA adds 'Rough' and 'Average' categories for trade-ins originally appeared on Autoblog on Sun, 07 Sep 2008 09:03:00 EST. Please see our terms for use of feeds.

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Plummeting prices for used SUVs a problem for GM, Ford

Stuart Waterman — Thu, 25 May 2006 11:53:00 EST

Filed under: Car Buying, Trends, SUV, Ford, GM, GMC

What goes around, comes around... at least in the retail auto business. A combination of high fuel prices and aggressive incentive programs on new vehicles has conspired to put used SUV prices into free fall. According to industry analysts, the wholesale value of used large SUVs in April was down 4.1 percent over last year, and 4.7 percent from March.

The trend is particularly painful for Ford and General Motors, who sell most of the large SUVs. Because most new vehicle sales involve a trade-in, and current SUV owners are prime candidates for buying a new SUV, declining used SUV trade-in value hurts dealers trying to sell new models.

But wait, there's more. Over 220,000 large SUVs were leased in the 2002 and 2003 model years, and owners are turning them in just in time to further depress the used vehicle market.

The result? Reuters reports a Ford analyst as saying the large SUV market looked set for a double-digit percentage decline in 2006, a bigger drop than the automaker had earlier predicted.

[Source: Reuters]

Plummeting prices for used SUVs a problem for GM, Ford originally appeared on Autoblog on Thu, 25 May 2006 11:53:00 EST. Please see our terms for use of feeds.

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