Category Archives: Auto Industry News

Auto Sales Off to Better-Than-Expected Start

The auto industry had a great 2011 in terms of sales and after a strong January, it looks like 2012 might follow suit. Analysts found car sales rose 11 percent in January, which indicates Americans are starting to replace cars they held onto during the recession, Reuters reports.

The figures surprised most prognosticators who believed sales growth, if there was any, would have been modest at best. However, spurred by the popularity of Volkswagen and the rebound of longtime favorites like Toyota and Honda, the industry avoided its usual early-year slump.

"Normally you have a little bit of the December hangover," Al Castignetti, head of U.S. sales for Nissan brand, told the news agency. "January starts out very slow and you try to make the month in the last 10 days. The absolute opposite happened this year."

The strong beginning to the year has some experts rethinking their forecast for the year. Now, they think that there could be as many as 14.18 million vehicles sold in 2012.

There are a number of reasons for the sales growth. According to Reuters, one of them may be that gasoline prices, while still high, have remained relatively stable. Additionally, ABC News reports many people may be leaping at the opportunity to replace their rides with updated used cars, as the average age of cars on the road is nearly 11 years.

Whether you're looking to get in a used car because your current model is running on fumes or if you just want a change, New Jersey State Auto Auction has you covered. With a wide variety of makes and models at affordable prices, there is something for everyone.

GM Wrestles Top Spot in Sales From Toyota

General Motors had somewhat of a resurgence during 2011 and it recently put an exclamation mark on its path to recovery. The automaker announced earlier this week that it sold more than 9 million vehicles, vaulting it past Toyota to take the top spot, Bloomberg reports.

The figures mark a significant increase compared to 2010, when the company sold about 8.39 million vehicles. That 7.6 percent rise, coupled with the Japanese earthquake and tsunami that disrupted Toyota's production, made for a standout year for GM.

According to the news source, the accomplishment is especially good news for GM given its experience over the last several years. The last time it was the number one seller, in 2007, GM lost nearly $39 billion despite selling the most cars. This year, however it brought in an $8.1 billion profit.

"The difference between this title and other times is that they are profitable and that's where the bankruptcy was helpful," Rebecca Lindland, an industry analyst with IHS Automotive, told Bloomberg. "It's great to be No. 1, but it's a lot more fun to be profitable."

At the front of GM's resurgence was the performance of Chevrolet. The storied brand sold 4.76 million cars, the Los Angeles Times reports. The figures look especially more impressive if one considers that Chevrolet itself sold more than entire companies like Honda and Nissan.

Whether you're loyal to Chevrolet, Buick or GMC, New Jersey State Auto has the General Motors car you're looking for. Even if you want to go outside GM, the dealer has a wide variety of makes and models at affordable prices.

Improving Economy Makes for a Good Time to Buy Used Cars

Slowly but surely, the economy is on its way to recovery. That was clearly reflected earlier this month when unemployment dipped to 8.5 percent – a nearly three-year low. Though it might take some time to get back to pre-recession levels, the number of positive signs should have consumers feeling good. With the encouraging future, now may be the best time to head to New Jersey State Auto Auction for a used car.

If 2011 was any indication of whether the auto industry is on the road to recovery, 2012 may prove to be a great time to get behind the wheel of an updated ride. The last year presented a number of challenges including natural disasters in Japan as well as the prolonged debt debate in Congress during the summer. But despite all that, sales still jumped 10 percent from 2010, according to Kelley Blue Book.

"Sales forges ahead, proving that consumers have grown thicker skin after experiencing the many ups and downs since 2008," wrote Alec Gutierrez, the senior market analyst for KBB. "Even the earthquake in Japan had little impact on sales momentum through 2011."

Anybody looking to get a used car may want to act quickly. The values of 1-to-3-year old vehicles dropped 1.2 percent during December, and KBB believes that values may be on the rise during 2012 due to an increase in demand. In fact, the organization expects values to increase 3 to 5 percent in the first quarter, with compact cars and crossovers experiencing the highest growth.

To take advantage of the relatively low value in used cars, you should head to New Jersey State Auto Auction. In addition to a wide variety of makes and models, the dealer offers them at affordable prices.

Auto Sales to Continue Upward Trend in 2012

Auto sales rose considerably during 2011, with industry insiders reporting about 12.7 million units sold during the year. Kelley Blue Book expects the upward trend to continue in 2012, and projects that about 13.3 million cars will be sold. While it still might be down a bit from the 16 to 17 million the industry experienced a decade ago, it is still a sign that consumer confidence is on the way up and now may be a great time to buy a used car. 

To get a sense of how far auto sales have come in the last few years, one need only look back to 2009. That year there were just 10.5 million vehicles sold in the United States as the country was still reeling from the economic downturn in 2008.

In addition to the rise in consumer confidence being the force behind spike sales, experts say that many drivers need get in younger cars because the average age of cars on the road is on the rise.

"Sales growth is primarily driven by need and as the average age of vehicle approaches 11 years, consumers will hit showrooms for replacement vehicles," Kelley Blue Books's Alex Gutierez writes.

The need for an updated car,coupled with the fact that other economic conditions, including both unemployment and the housing market, are improving, means that consumers will continue to be less hesitant to spend.

With the improving market, those looking for a used car will want to head to New Jersey State Auto Auction. With a wide selection of makes and models at affordable prices, the dealership provides a great resource for people looking to spend wisely.

Hyundai Elantra Named North American Car of the Year

The North American International Auto Show doesn't open to the public until Saturday, but it has already made waves through the industry. It was recently announced at the show that the Hyundai Elantra was its 2012 North American Car of the Year, The Associated Press reports.

The Elantra beat out the Ford Focus and Volkswagen Passat, and although it's an honor for Hyundai, officials say that sales of the car are already doing quite well. Even still, being recognized for the award will go a long way in helping Hyundai solidify its place among the most popular compact car brands.

"It should be helpful for our brand going forward," Hyundai's North American CEO John Krafcik told the AP.

It's no surprise that the Elantra has risen in popularity over the last several years, given its fuel efficiency. The cars start at a little over $16,400 and get an impressive 33 miles per gallon. According to the AP, Hyundai sold more than 186,000 in 2011 which was up 41 percent compared to 2010.

The Elantra was not the only vehicle to get recognized at the show, however. The Land Rover Range Rover Evoque came home with the North American Truck of the Year award. While it may not be as affordable as the Elantra, it certainly resonated with consumers this year.

Anybody looking to get behind the wheel of a used Hyundai Elantra will want to head to New Jersey State Auto Auction. Even if you are not in the market for an Elantra, the dealer has a wide variety of makes and models at affordable prices.

Auto sales continue to rise in November

The end of the year is often seen as one of the best times to buy a new or used car, comma and it appears as though American consumers got the message. Auto sales in the United States saw a 14 percent jump in November and some analysts believe that December sales may be even higher, The New York Times reports.

Although most manufacturers saw an uptick in sales, Chrysler stood above the rest. The company reported that sales for all of its brands were up 45 percent compared to the same period last year and Jeep sales were at the highest level for the brand since 2003.

Of course, Chrysler was not alone. General Motors' sales rose by 7 percent with compact cars like the Chevrolet Cruze being especially popular. Additionally, sales of Fords rose by 13 percent with demand for the company's Explorer leading the way. Some analysts have been skeptical of the increase in sales, but others believe it could be indicative of a larger trend.

"The industry sales rate has exceeded 13 million in each of the last three months," Ken Czubay, Ford‘s vice president for United States marketing, sales and service, said in a release. "This suggests the current momentum is not an aberration. We believe replacement demand will continue to support stronger levels in 2012."

Those in the market for a used car may want to act quickly. The average price of a used car has dropped by 10 percent since June, Time reports. At New Jersey State Auto Auction, prices are always affordable. Additionally, the dealer offers a wide variety of makes and models that are all Carfax certified, so consumers know they are getting a reliable automobile.  

Buy a used car before the end of the year, analysts say

If you're on the fence about buying a used car before the end of the year, some new information may change your mind. Kelley Blue Book's website kbb.com reports that used car prices are going to rise in early 2012 and could increase as much as 6 percent.

Not only will prices likely be on the way up after the new year but they are also at their lowest point in quite some time. Analysts say that used car prices have been falling steadily since June and are expected to continue on that trend through December. Add that to the fact that sales tend to decline during the fourth quarter anyway, and the next few weeks are shaping up nicely for those in the market for a new ride.

"Used-car values typically decline through the fourth quarter due to a seasonal drop in demand that lasts through the holiday season," said Alec Gutierrez, manager of vehicle valuation for Kelley Blue Book. "We believe sales volume also will decline through the remaining fourth quarter, similar to years past, and as a result values will likely remain soft through year-end, with few exceptions."

Along with timing, which car you choose is also important. According to Edmunds.com, some of the best used cars for 2011 are the 2004-2009 Nissan Altima and 2006-2009 Hyundai Azera as well as the 2004-2009 Ford Explorer.

If you're looking to take advantage of the low prices, New Jersey State Auto Auction is the place to go. Regardless of the time of year, the lot has a wide variety of makes and models at affordable prices, and each vehicle is Carfax certified so you know you're getting a reliable product. 

Black Friday a great time to trade in cars

The day after Thanksgiving is widely recognized as one of the best shopping days of the year at retail stores but what consumers might not know is that it is also a great day to trade in one's car as well. Auto dealers say that many of them are buying up used cars as demand is steadily growing, NBC affiliate KARE reports.

The reason now is the best time for trade-ins is that many drivers chose to hold on to their cars longer in the wake of the recession. This caused a shortage of used cars and now lots are trying to fill the gap. Analysts say that dealers are not too picky either.

"Cuts across every brand, every model," Minnesota Auto Dealers Association Vice President Scott Lambert told the news channel. "Dealers are excited to work with you on a late model used car."

Of course, just because the demand is high doesn't mean that you should ignore steps that will help you get more for your car. According to Bankrate.com, one of the most important things to do is research before you bring your car in. This way you'll be able to come prepared with a general idea of how much your car is worth to know if you're getting a fair deal.

Additionally, making sure the car looks as good as possible, both inside and out can go also help you get top dollar.

As a final step you'll want to visit a reliable dealer like the New Jersey State Auto Auction. Along with promising a fair price, the business is an Autotrader.com Trade In Marketplace Dealership so you can get an appraisal in a matter of seconds.  

Be on the lookout for flood-damaged cars after Hurricane Irene

Hurricane Irene brought a swath of destruction as it made its way up the East Coast this summer, and while the power outages and flooding were certainly some of the biggest stories to come out of the storm, it may have also made a big impact on used cars. According to InsuranceJournal.com, consumers should be wary of flood-damaged cars that are making their way into the market.

Cars damaged by flood water are often much cheaper than vehicles that have not sustained similar damage, but they present a number of issues that make the discounted price not entirely worth it. In addition to costly repairs, the compromised car could also be the cause of a life threatening accident.

The National Insurance Crime Bureau reports that this August (when Irene hit) showed a surprisingly high number of flood-related vehicle claims with 11,789 reports filed. To put that in perspective, there were just 994 claims in August 2010.

According to the news source, there are a number of ways that you can avoid unknowingly purchasing a flood-damaged car. While you're inspecting your prospective purchase you should be sure to be on the lookout for any tell-tale signs of water damage – including stains, mildew, sand and silt. Additionally, rusty screws on the console area can be a dead giveaway.

Perhaps most important of all, however, is turning to a dealer that you can trust. Sellers are supposed to disclose information such as flood damage to ensure that you can make an informed decision.

Consumers need not worry if they head to New Jersey State Auto Auction, all cars, trucks and SUVs are Carfax certified so you know you're getting an accurate history about the vehicle you purchase, many of which are lower than Kelley Blue Book value.

Now is a great time to buy a used car

As the year winds down it becomes a great time to buy new cars, and recent statistics show that used car prices are on the way down as well. A study by CarGurus found that the average price of a used car is around $19,278, down 0.88 percent from September and 1.7 percent from August.

The findings are certainly good news for consumers, who have been plagued by somewhat high used car prices over the last several months. Though it is a bit above where it was at this time last year, any decline in price can't be a bad thing.

"With prices less erratic and demand expected to drop further as winter approaches, consumers should be in a better position to gain clarity on market values and negotiate with dealers," said Langley Steinert, the CEO of CarGurus.

Although prices are trending downward that doesn't mean that you shouldn't still try to get the best offer possible. According to Consumer Reports, one of the best things you can do to ensure you get a good deal is to be familiar with the value of the car you're interested in ahead of time. By checking a number of sources you'll be better equipped to tell if you're getting a fair offer.

Also, you should be sure to be familiar with your trade-in value. There are plenty of easy ways to determine the number, but New Jersey State Auto Auction offers one of the quickest. The company is an authorized AutoTrader.com Trade In Marketplace dealership, and you can check the value of your car in a matter of seconds.