BUSINESS
June 12, 2012 | By Jerry Hirsch
New-car dealers are adding workers, opening more stores and expressing general optimism about their business, according to an annual report released this week by the National Automobile Dealers Assn. There were 933,500 workers employed at U.S. new-car and -truck dealerships in 2011, a 4.6% increase from the previous year, said Paul Taylor, chief economist of the trade group. The number of dealerships, which has declined dramatically in recent years, has started to climb, growing by about 66 on a net basis to about 17,600.
BUSINESS
June 9, 2012 | By Ken Bensinger, Los Angeles Times
With legislation to impose new regulations on Buy Here Pay Here dealers marching through the statehouse, California's used car industry is redoubling efforts to block their passage. But the insurgent opposition, which in recent weeks formed a new group to stop the three bills, will have to take its fight to Sacramento without the aid of one of the state's most powerful lobbies - new car dealers. The Coalition to Protect Our Freedom to Drive argues that the bills, which last month passed floor votes in their originating houses, would cost the state hundreds of millions of dollars in lost sales tax revenue and keep working families from gaining access to vehicles.
BUSINESS
May 31, 2012 | By Jerry Hirsch, Los Angeles Times
Used-car prices, which had shot up in recent years, are starting to fall. Easing gasoline prices in much of the nation and more trade-ins from a pickup in new-car sales are behind the decrease. Used-car prices are expected to decline 2% in June from May, according to the National Automobile Dealers Assn. Used Car Guide. Used truck prices are expected to fall 1%. Some used cars, especially fuel-efficient autos, will see much larger drops, the association said, as falling gas prices reduces demand for the vehicles.
BUSINESS
May 30, 2012 | By Jerry Hirsch
Used car prices are starting to fall after rising steadily for much of the year. Easing gas prices in much of the nation and more trade-ins coming back to dealers because new car sales have picked up are behind the decrease. Used car prices are expected to decline 2% in June from May, according to the National Automobile Dealers Assn. Used Car Guide. Used truck prices are expected to dip 1%. Some cars, especially fuel-efficient autos, will see much larger drops, the association said, as falling gas prices reduce demand for the vehicles.
BUSINESS
May 30, 2012 | By Jerry Hirsch, Los Angeles Times
Three years after their shotgun marriage, Chrysler and Fiat are rolling out a new car that combines Chrysler's legacy with Fiat's Italian design roots. FOR THE RECORD: A story in Wednesday's Business Section about Chrysler's reintroduction of the Dodge Dart misspelled the last name of Karl Brauer, chief executive of TotalCarSCore.com. The Dodge Dart, a reinterpretation of the 1960s' nameplate, needs to hit the bull's-eye if Chrysler is to have any chance of regaining a toehold in the competitive compact car market long dominated by import brands such as the Toyota Corolla and Honda Civic.
SPORTS
May 24, 2012 | By Jim Peltz
INDIANAPOLIS — The Indianapolis 500 will be run for the 96th time Sunday, but several things will be different about the venerable race this year. All the drivers are using a new car that's untested in 500 miles of race conditions at the 2.5-mile Indianapolis Motor Speedway. The car has enhanced safety features and there are multiple manufacturers providing engines, versus only one engine maker before. Danica Patrick, having moved to NASCAR, isn't here for the first time in eight years.
BUSINESS
May 22, 2012 | By Jerry Hirsch
Fuel economy is the top feature buyers consider when shopping for a new car, according to a recent survey by Consumer Reports. The magazine, an influential force on car buying choices, said that 37% of the respondents in an April telephone survey listed fuel economy as their top consideration when shopping for a new car. Quality was a distant second at 17% followed by safety at 16%, value at 14% and performance at just 6%. “These results...
BUSINESS
May 22, 2012 | By Deborah Netburn
Some people talk to their cars. In the near future, their cars will talk right back to them. On Tuesday, Nuance Communications Inc., a company that specializes in voice and language solutions, announced a new product called Dragon Drive that will turn your car into a Siri-like computer personal assistant. "Millions of cars around the world already use Nuance voice recognition for voice dialing and controlling the climate system, but all those activities are relegated to controlling technology in the car," Mike Thompson , senior vice president and general manager of Nuance's Mobile division, said in an interview with The Times.
BUSINESS
May 17, 2012 | By Jerry Hirsch, Los Angeles Times
If you want to save money on a new car, look for an older model that is about to be replaced. That's the advice of auto information company Kelley Blue Book, which says some automakers are offering big discounts on models that they are replacing in the coming months with redesigned versions of the same nameplate. Nissan Motor Co., for example, this month began production of its new-generation Altima family sedan at its factory near Nashville and is clearing out its 2012 models.
BUSINESS
May 16, 2012 | By Jerry Hirsch
If you want to save money on a new car, look for an older model that is about to be replaced. That's the advice of auto information company Kelley Blue Book, which says some automakers are offering big discounts on models that they are replacing in the coming months with redesigned versions of the same nameplate. Nissan, for example, just began production of its new-generation Altima family sedan at its factory near Nashville this month and is clearing out its 2012 models. The automaker is offering a $2,500 rebate on the outgoing Altima, which lists for $23,490, according to Kelley Blue Book.