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.
April 2, 2013 |
Tesla Motors has worked out a deal with several banks to sell its pricey electric sports sedan with a guaranteed buyback after 36 months. The transaction is meant to be competitive with leasing, a key component of luxury auto sales. In a lease, people essentially rent fancy nameplates such as Mercedes-Benz and Jaguar -- instead of putting up a lot of cash or taking a large loan to finance the purchase. Tesla is now getting into that game, with a transaction that works like a lease but actually is a resale agreement.
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.
April 24, 2013 |
Chevrolet says it has earned bragging rights as the car company with the most efficient electric vehicle. The automaker says that the 2014 Spark, which is set to go on sale this summer in California and Oregon, has an EPA estimated range of of 82 miles when fully charged and an estimated combined city/highway 119 mpge. Mpge stands for miles per gallon gasoline equivalent. PHOTOS: Kelley Blue Book's top 10 'green' cars for 2013 Chevy said the subcompact car will save an average of $9,000 over the next five years, compared with other new vehicles.
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.
April 10, 2012 |
If you are planning to sell or trade in a used car, the next couple of months might be the most optimum time. Prices of late-model used cars are expected to peak for the year over the next six weeks or so, according to analysts at the National Automobile Dealers Assn. Used Car Guide. That's because auto dealers are trying to stock up on their used car inventory for the busy spring and summer seasons and there is a shortage of good used cars, an echo effect of the recession. Auto sales plunged to their lowest level in a generation in 2009, when Americans purchased just 10.4 million vehicles after buying an annual average of well over 16 million for the previous decade. That removed millions of potential used vehicles from the market.
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....