Category Archives: Auto Industry News

Dodge, Chevy and Hyundai highlight the week in auto news

From one of the most widely-recognizable minivans being taken off the road to an impressive milestone being reached, there was big news for some of the most popular auto manufacturers in the world this week.

• The Chevrolet Malibu has long been among the most widely-driven cars in the United States, and now it is official. This week the car became the auto industry's longest-running model with an impressive 35-year run. In fact, USA Today reports that there have been 8.5 million Malibus inside the United States since it debuted in 1964, and the car has won more than 40 awards including the 2008 North American Car of the Year.

• It is hard to drive down the highway without seeing a slew of Dodge Grand Caravans, but that time may soon be over. Automotive News is reporting that Chrysler Group plans to end construction of the popular minivan and will instead release just on, the Chrysler Town and Country. The decision stems largely from a desire to not release two almost-identical cars. The company also is going to end production of the Dodge Avenger sedan.

"We cannot have the same type of vehicle in the showroom, because the consumer not stupid," Chrylser CEO Sergio Marchionne told the website.

• Often known for its reliable sedans, Hyundai surprised some in the industry when it paired with Magnuson Products, Rhys Millen Racing, Harman International and Torvec Inc. to develop a 450 horsepower version of its Genesis Coupe. Hyundai hopes to unveil the powerful special edition Genesis at the upcoming SEMA Show in Las Vegas, which is held between November 1 and 4.

Chrysler Town and Country tops list of most affordable insurance

Although many people are quick to look at the price-tag of a car when considering whether or not they can afford it, the costs that come afterward are often just as important. This is especially true when it comes to insurance, and Forbes recently provided consumers its list of which cars are the most and least expensive to insure.

There are a number of factors that went into compiling their list and it also came with a few surprises. Perhaps most interesting was that cars that appeal to young drivers, while they may be cheap up front, have surprisingly high insurance. In fact, the Kia Rio's annual premium of $1,522 is not much cheaper than a Corvette's, which is about $1,740.

"An inexpensive car can be relatively costly to insure if it appeals to younger, less-experienced drivers who tend to get into more accidents," Insure.com spokesman Emmet Pierce told the publication.

The least expensive car to insure, according to Forbes, is the Chrysler Town and Country. The minivan comes in at just under $1,100 annually, and is followed by three more minivans on the list including Toyota Sienna and Honda Odyssey.

As for the most expensive, Forbes reports that the Mercedes SL65 tops the list with a whopping $3,543 a year premium

Used car values on the rise

Anybody looking to sell their used car, or trade it in for a different model, is certainly in luck. The Buffalo News reports that used car values have been steadily rising over the past several years, and are currently at some of their highest.

When it comes to Kelly Blue Book's valuation, prices are up an average of between 39 and 45 percent. It's not too hard to understand why, either. At the lowest part of the economic downturn, manufacturers reduced production, and the Cash for Clunkers program removed a large number of potential used cars from the market – and now drivers are reaping the benefits.

The rise in value has been especially helpful to consumers looking to trade in their current vehicle for a new or used model. In fact, for some drivers like West Seneca, New York, resident John Ehrig the increase in value convinced him to trade in his 2003 SLS Seville Cadillac for a 2005 Chrysler 300c in the first place.

"That's the only reason it worked out: They were willing to give me more than it was worth," Ehrig told the news source. "It was the car that had everything that I wanted."

To fully illustrate the point, the news source highlights the fact that in 2008, a three-year-old Honda Accord would have only brought the driver about $11,000 in trade in value. Today, a three-year-old Accord would get more than $16,000.

Still, there are some cars that have proven to be better trade in options than others. Specifically, CNN Money reports that Kia and Hyundai are excellent choices because they have the lowest ownership costs among sedans, making their resale value especially high.

While the market may be good for used cars right now, there are still some ways that car owners get the highest possible trade in value out of their car. One of the most important things that consumers should remember when shopping around for a trade in is to be aware of how much their car is worth, that way they can be sure whether or not they are getting a fair shake.

"The key to doing well in a transaction with a dealer is to be knowledgeable," market analyst Jack Nerad told bankrate.com.

Furthermore, the website recommends not being tied down to one dealer since going to multiple lots wlll give prospective buyers more options. 

Larger cars still popular despite high gas prices

In the face of higher gas prices than a year ago, it looks like drivers aren't considering downsizing their cars. USA Today reports that a new study by AutoPacific found that just 16 percent of respondents were planning on buying a smaller vehicle for their next car.

In addition to not wanting to downsize, the survey also revealed that a surprisingly large amount of drivers are sticking with SUVs and trucks. Specifically, 25 percent of those polled said they want an SUV or crossover for next year, and 14 percent said they prefer a pick up truck.

The news source says there may be a few reasons to explain the surprising numbers. Among them is the fact that many manufacturers are rolling out cars that are more fuel-efficient than ever, removing part of the need to downsize. Furthermore, 41 percent of respondents said they're combining trips in a car.

Regardless of whether or not you're looking to get behind the wheel of a smaller car or staying at the same size, New Jersey Auto Auction has plenty of makes and models at affordable prices.

Honda Accord tops the list of most stolen cars

Cars get stolen across the United States virtually every day, but some makes and models are much more attractive to thieves than others. The National Insurance Crime Bureau recently released its list of the top 10 most stolen cars in 2010, and six of them are made in the United States.

Though domestically-built cars were well-represented on the list, the top three were all foreign-made. Specifically, the 1994 Honda Accord was the most stolen, while the 1995 Honda Civic and 1991 Toyota Camry came in second and third, respectively.

As for American-made cars, the 1999 Chevrolet Pickup came in at number four, while the 1997 Ford F-150 rounded out the top five.

The results also highlighted several ways to prevent having one's car stolen. In particular, new technology has helped, as NICB noted that nearly 52,000 Accords were stolen in 2010, and 44,000 of them were made in the '90s.

Additionally, the organization offered up some tips. For example, the NICB recommends investing in immobilizing devices such as fuel shut-offs and smart keys, which can ensure that one's vehicle is not started by anybody but the driver.

Nevada governor takes a ride in self-driving Prius

Search engine giant Google is in the process of testing self-driving cars, and Nevada Governor Brian Sandoval recently got the opportunity to try it out for himself. The Associated Press reports that he took a self-driving Toyota Prius through Carson City, becoming the first governor in the country to get in such a vehicle.

It's not surprising that Sandoval was allowed to try out it, especially after Nevada passed a law earlier this year, which made it legal for the self-driven cars to be allowed on the state's roadways.

The innovative device, which is placed on the roof of the car, navigates by a laser range finder, radar and sensors. After Sandoval's 10-miles trip, he had nothing but praise for the engineers at Google, and hopes that his state can be at the forefront of the new technology.

"I think it's important for Nevada to be first on this," Sandoval told the AP. "This is going to be part of the future, and Nevada has always been a very progressive state."

Though the self-driving technology is still years from being open to the general public, drivers can get behind the wheel of technologically advanced cars like the Toyota Prius by checking out New Jersey Auto Auction.

CNN offers tips to find the best trade-in deals

Though some automakers may be less likely to offer incentives and rebates than they were in months and years past there are still a number of ways that you can find a good deal if you know what to look for and how to approach the buying process according to CNN Money.

One of the most important things to determine is how much your current car is worth. It may be difficult to come to terms with the figure, especially if it's lower than what you may have thought, but when it comes time to trade in your car, you'll be glad you have an educated opinion on just how much value your ride has.

Doing so is especially easy as well, the news source reports. All that's required is visiting Kelly Blue Book's website to find out how much you'd likely get for your car if you sold it yourself. (This can be made simple by visiting Kelley Blue Book's website to find out how much your car would be worth if you sold it yourself, the news source reports.

Along with knowing the price of your own car, you should be prepared about the prices the dealer will offer you. Coming armed with the knowledge of how much the model you're looking purchase goes for will allow you to avoid getting taken advantage of. Luckily, there are a number of websites available, such as AOL Autos and Edmunds.com, that can provide you with the information you need to make an informed decision.

Finally, CNN suggests being prepared to be wary of dealerships that will try to get you to purchase unnecessary add-ons after you've bought your car. Experts say that everything from extended warranties to upgraded security systems are usually not needed.

In addition to providing consumers with a few tips on saving money, the news source also offers what it thinks are some of the best values when it comes to cars. Perhaps the most surprising choice is the the powerful Ford Mustang convertible. Analysts say that this sporty ride is one of the best deals out there.

"The Mustang convertible is a drop-top bargain, relatively practical, and a blast to drive," CNN Money's Peter Valdes-Dapena writes. "It's also amazingly fuel efficient, considering its performance."

Those looking for a more family-friendly model at an affordable price can look at the Hyundai Veracruz. This crossover provides relatively high fuel-efficiency and is being sold at a very affordable figure.  

Cellphones, other electronics cause as much as 25 percent of crashes

It's no surprise that distracted driving is a common cause of car accidents, but just what's distracting drivers may come as somewhat of a shock. According to a recent report released by the Governors Highway Safety Association (GHSA), 25 percent of crashes are caused by electronic devices.

According to Reuters, while distractions caused by talking and texting on cellphones is not too surprising, what the report found was that there was no evidence that proved that hands free devices lowered the risk. Additionally, texting was found to be a much larger factor in crashes than simply talking.

"While distracted driving is an emotional issue that raises the ire of many on the road, states must take a research-based approach to addressing the problem," GHSA Executive Director Barbar Harsha said in a statement. "Until more research is conducted, states need to proceed thoughtfully, methodically and objectively."

The report was complied after analyzing hundreds of papers on the subject that have been written since 2000. It also concluded that there should be a ban on cellphone use (hands-free or not) for inexperienced drivers. 

Auto industry showing promising signs, hiring more workers

The auto industry was one of the hardest hit during the recession, but new signs indicate it may be back with a vengeance. According to The Associated Press, a number of manufacturers have opened new plants and are continuing to add jobs.

The news is especially encouraging given that the auto industry is hiring at a faster pace than other areas as well, including airline manufacturers and the healthcare sector. Specifically, Honda, Volkswagen and General Motors are all in the process of adding thousands of employees.

The boost in employment certainly comes from the boost in sales. According to the news provider, Americans are on pace to buy 13 million cars this year, which is up significantly from the 11.6 million they purchased in 2010.

"I really do believe that we are seeing a renaissance in the American automobile industry," economics expert James Brock told the AP.

Part of the boost is due to the creation of some new, more fuel-efficient models, most notably the much-anticipated Chevy Volt, which spurred the hiring of 2,500 at a Chevrolet plant in Detroit.

People seeing more value for their used cars

People who have bought fuel-efficient vehicles may be finding that their cars are able to withstand the test of time in terms of investments, as some individuals are turning a profit when selling a fairly new environmentally friendly vehicle.

The New York Times reports that used car values are increasing dramatically for fuel-efficient automobiles, as there is a high demand from American consumers due to the rising gas prices.

For example, compact cars that are between one and five years old are now worth 30 percent more than they were six months ago, according to the news source.

"There's just so many things hitting the market all at once," Alec Gutierrez, manager of used-car pricing at Kelley Blue Book, told the news provider. "For those really hot, in-demand cars, we're seeing one- and two-year-old vehicles that are selling for very close to [sticker price.]"

Consumers who are looking to purchase a used fuel-efficient car may want to check out New Jersey Auto Auction, which has a variety of models that will be sure to fit anyone's preference.