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.
February 9, 2010 |
Toyota has begun the painful and difficult task of trying to convince consumers that they should buy the beleaguered company's cars -- even as worries mount that more bad news may be ahead. Capping a week of by-the-book crisis management, including television appearances by top executives, the world's largest automobile maker has begun to air a commercial aimed at restoring confidence in its vehicles. Opening with a 1960s-era photograph of what is now Toyota of Hollywood, the ad is airing frequently on network and cable television stations along with YouTube and the company's website.
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 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.
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....
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.
May 22, 2011 |
Rising prices and a looming vehicle shortage make this summer one of the worst times in years to go car shopping. But if your vehicle is on its last leg or your lease is about to come due, here are some tips on how to navigate through a difficult market. • Consider cars with incentives: Manufacturers still offer some incentives, especially for cars that are near the end of their model cycle or are slow sellers. Most of the big auto information companies, including Edmunds.com, TrueCar.Com and kbb.com (Kelley Blue Book)