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Car Retail Sales Up

According to a monthly sales forecast by J.D. Power and Associates, July new-vehicle retail sales are expected to reach the second highest year-over-year growth during the past 12 months. Retail sales of light vehicles during July is expected to account for 969,200 units, representing a seasonally adjusted annualized rate of 11.5 million units. A study … Continue reading

Subprime Auto ABS Grows as Lenders Chase Margins

The subprime auto finance business has grown during the past two years as new lenders compete to make loans with rates of about 17 percent annually, while being able to finance themselves at an average rate of less than 2 percent, Moody’s Investors Service said in a July 17 report. With losses ranging from 1 … Continue reading

Ford looks to aluminum to slash weight of pickups

Pickup truck buyers are a stubborn lot, or so goes the conventional wisdom. What matters is payload and towing capacity; all else be damned. But recent trends suggest that’s not necessarily the case. The latest generation of full-size trucks now offer the sort of high-tech, high-touch features you might expect in a luxury car. And, … Continue reading

10 savvy ways to save on gas

While we all probably know the basics about how to save money on gas — don’t crank the AC (as if that’s an option this summer!), don’t tool around town aimlessly (duh!) — here are some lesser known ways to cut the cost of gas this summer: 1. Buy discounted gas gift cards Sites like … Continue reading

Crash course teaches teens how to avoid accidents

Summer is typically the time when beginning drivers log their hours of behind-the-wheel training in driver’s education courses so they can earn their licenses. Soon they’ll trek to the DMV, or maybe the courthouse, to pick up their freshly minted driving permits. But driving, like most activities, is a skill that improves both with experience … Continue reading

Los Angeles Mayor Reforms Tax Structure for Auto Dealers

During a press conference held at a downtown KIA dealership on Monday, Mayor Antonio Villaraigosa signed a city ordinance exempting new-car dealers from the city’s gross receipts tax, or business tax. Last fall, Villaraigosa joined Councilmembers Eric Garcetti and Mitchell Englander in calling for a change to the tax structure for Los Angeles’ new-car dealers. … Continue reading

In-vehicle navigation sales will quadruple by 2019

The number of cars, trucks and crossovers sold with in-vehicles navigation systems will quadruple in North America by 2019, according to a new study, growing to nearly 13 million new systems annually. But that may not be as good news as it might seem for traditional navi system suppliers, such as Denso, Harman or TomTom, … Continue reading

Chevy introduces buy-back guarantee program

Hoping to maintain its momentum as key Japanese competitors recover from last year’s production cuts, General Motors’ largest brand has announced its new Chevy Confidence program which includes a “Love it or Return it” vehicle buy-back guarantee on all 2012 and 2013 models. The maker is also launching a “Total Confidence Pricing” discount program aimed … Continue reading

Finance Amounts Reach Six-Year High

New-vehicle loans originated in the first quarter totaled $52.5 billion, which stretched 49 percent higher than three years ago, according to Equifax’s May National Consumer Credit Trends Report. The most current data also shows that new-auto bank loans amounts originated between January to March 2012 totaled $47.5 billion, a seven-year high. The amount was also … Continue reading

Auto industry the silver lining in gloomy economy

There may be plenty of reasons to worry about the U.S. economy: Weak jobs numbers, poor housing starts and a European economic crisis that threatens to spill across the Atlantic. But based on June sales numbers, the American auto industry is not one of them. Car sales outpaced even the more optimistic forecasts, with several … Continue reading