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.
July 19, 2011 |
Hyundai Motor Co. is solidifying its image among auto shoppers. The South Korean automaker toppled Honda Motor Co. and Toyota Motor Corp. to take the top spot in brand loyalty, according to Kelley Blue Book's measure of brand loyalty during the second quarter of this year. Although Hyundai has held that position for a month once before, it was the first time since the auto information company began tracking the data that Hyundai has held the No. 1 spot for an entire quarter.
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)
March 24, 2011 |
To buy or not to buy? That is the question facing many car shoppers these days. That's because rising gas expenses and a looming shortage of Japanese-built hybrid and fuel-efficient vehicles are starting to pump up prices for gas-sipping autos. But analysts at auto information company Kelley Blue Book say that with all this turmoil in the marketplace, consumers should think twice about jumping to buy a new car. They say it's a mistake to pay a premium for a fuel-efficient car when gas prices could easily drop in the coming months and the price of the vehicles come back down.
March 3, 2011 |
Buyers shifting their shopping to small, fuel-efficient vehicles because of high gas prices run the danger of making a long-term decision on a short-term price spike and finding themselves driving a car they don't want, some analysts warn. "It is like people who look out the window, see that it is raining and then think it is going to rain for the next four years," said Jack Nerad, an analyst with auto information company Kelley Blue Book. Though most oil watchers believe the cost of petroleum is on an ever-upward curve, the steepness of the climb is likely to be uneven, and it's not clear whether prices will remain high if political turmoil in Arab oil-producing nations recedes.
October 27, 2010 |
Automobile classified advertising site AutoTrader.com plans to acquire one of the most venerable names in car shopping ? Kelley Blue Book. The pending deal, announced Tuesday, would give Atlanta-based AutoTrader two of the leading advertiser-supported go-to destinations for car buyers. The AutoTrader site, which launched in 1998, gets 15 million visitors a month viewing its buy and sell ads from dealers and consumers, the company said. Kelley Blue Book of Irvine provides price information on new and used cars.
August 25, 2010 |
Teachbook.com has two employees and fewer than 20 users signed up for its free Web community. The site has yet to officially launch. But the Northbrook, Ill., company, which provides tools for teachers to manage their classrooms and share lesson plans and other resources, has been thrust into the spotlight by social networking giant Facebook, which sued the start-up for using "book" in its name. "We've been sitting here scratching our heads for the last couple of days," Teachbook's managing director, Greg Shrader, said Wednesday.
July 9, 2010 |
Though sales of cars and trucks in the U.S. continue to be more sluggish than expected, automakers are enjoying the largest increase in average transaction prices in more than five years. Industrywide, consumers spent an estimated average of $29,217 on a new car or truck from January through May — an increase of $1,057, or 3.7%, from last year, according to estimates provided by Edmunds.com. Edmunds' figures are based on a sampling of data from about 40% of U.S. dealers. The Detroit Three are outpacing the industry's gains — giving the automakers an opportunity to improve profit margins.
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.