August 12, 2011 |
Normally, the value of a new car plunges as it's driven out of the dealership by its new owner. But slumping auto sales and leases in recent years have changed that axiom by creating a shortage of late-model-year used cars, according to auto price information company Kelley Blue Book. The average value of a 1- to 3-year-old used vehicle has increased from $15,000 in 2008 to more than $23,000 in 2011, an annual average increase of nearly 16%, Kelley analysts said. They expect used-car pricing to remain strong because it will take several years of strong new-car sales to replenish the shortage of used vehicles that is pushing prices up now. "While depreciation typically affects a vehicle's value most in the first two years of ownership, it will not be as pronounced as it would have been a few years ago when the used-car supply was still very high," said Alec Gutierrez, manager of vehicle valuation for Kelley Blue Book.
November 1, 2011 |
Second of three parts The J.D. Byrider used-car dealership in Visalia, Calif., sits amid a jumble of tow yards, hubcap vendors and vacant lots littered with empty beer cans. It may not look like much, but selling aging cars to waitresses, secretaries and farmworkers is a lucrative business. That's why private equity firm Altamont Capital Partners of Palo Alto bought the J.D. Byrider chain in May for a reported $50 million. Altamont's offices, on the 10th floor of a luxury office tower overlooking Stanford University, are 200 miles and a world away from the Visalia lot. On a recent morning, a dozen executives could be seen huddled in a glass-walled conference room, reviewing a slide presentation on plans to buy some franchised Byrider lots.
August 3, 1999 |
One in four people shopping for a used car goes to the Internet for help, according to a study. The nearly 10,000 used-car buyers polled by J.D. Power & Associates said they most frequently visited the Web site of Kelley Blue Book for pricing and other general information, as well as the sites of Consumer Reports, Autobytel.com, Edmund's and Microsoft Corp.'s CarPoint.
February 9, 1990
R. Leslie (Les) Kelley, a minister's son who as a car dealer in 1926 began publishing a Blue Book that has since become the bible of the used-car business in terms of establishing automobile market value, died Wednesday at his home in Los Angeles. The one-time owner of the Kelley Kar Co. and Les Kelley Ford--once the largest Ford dealership in the world--was 93 and had been ill for some time, a company spokesman said.
November 1, 1990 |
Car retailing veterans Dan Cwieka and Jay Barchenger took advantage of the new 900 line "pay-per-call" telephone service in May to start a business providing auto resale values, new-car wholesale prices and car buying techniques to consumers. They named their Laguna Niguel company Car Smarts and, in a bit of inspired marketing following what Cwieka swears was a diligent search of legal records, they got a phone number that spells out BLU-BOOK.
January 26, 2000 |
A lot of attention is focused these days on cars designed to look like trucks and trucks designed to drive like cars, and on automotive styling from the Transformers and Gobots schools. Given all that, it is interesting to see the results of a Web poll taken recently by Kelley Blue Book (http://www.kbb.com) in Irvine. Chevrolet emerged from the monthlong balloting as the favorite brand of the last 50 years, with Chevy models built since 1950 combining to capture 21% of the 67,000 votes cast.
June 21, 2009 |
Yes, $3-a-gallon gas is back in Southern California. And a study by Kelley Blue Book indicates that it's starting to affect car shoppers. Kelley, the Irvine-based auto information firm, surveyed new car shoppers in May about gas prices and found that more than 60% had changed their buying approach because of rising pump prices, with many saying they would make compromises in their choice of a new vehicle in order to save money on gas. The No....
CALIFORNIA | LOCAL
December 7, 2001 |
Sidney H. "Buster" Kelley, who had built the world's largest used-car business by the 1940s and helped develop the Kelley Blue Book as the bible of automobile values, has died. He was 92. Kelley died Wednesday at the Norco home of his daughter, Deborah Sanchez. A resident of Huntington Beach, Kelley had been battling cancer and related illnesses for several years, said his son, Robert. "Dad was a goer, always saying, 'Let's go for it,' " Robert Kelley said. "He was very innovative.
May 30, 2013 |
Tesla Motors Inc. Chief Executive Elon Musk has announced an accelerated rollout of fast super-charger stations across the U.S. and parts of Canada, promising to boost the current eight stations to 25 by midsummer. By the winter months of this year, Musk said, coast-to-coast travel for the company's electric car will be possible along Interstate 80. Musk said that 80% of the U.S. would have access to the $150,000-to-$300,000 stations by 2014, and that 98% of the nation would be covered by 2015.
April 26, 2013 |
In a week in which beleaguered Fisker Automotive failed to make a $10-million loan payment, owners are looking to unload their cars. In some cases, they are seeing some very low offers. There were 48 listings for the high-end, hybrid electric Fisker Karma Eco-Chic and Eco-Sport cars on the Yahoo! auto sales pages. That might not seem like a lot, but the new- and used-car research company Edmunds said there were only 947 new registrations of Fisker automobiles between January 2012 and February of this year.