Category Archives: Auto Industry News

Used Toyota Priuses in New Jersey may be cost-effective electric option

Toyota executives expressed reservations at the Frankfurt Auto Show about the current costs of electrically-assisted cars, but buyers who want an affordable and environmentally friendly vehicle could take a look at less expensive used Toyota Priuses in New Jersey.

The company has been testing new lithium-ion batteries that have reportedly shown promise as replacements for the costly nickel metal hydride batteries currently used in Prius production, but it may be another decade before new models become cost effective for mass market consumption, reports CNET Tech News.

Electric vehicles of today are less costly than in 1990s, but if you compare them with the other vehicles out there they are still too expensive,” Takeshi Uchiyamada, Toyota executive vice president, told the news provider. “Unless there is a very big breakthrough in battery costs I don’t think electric vehicles can take a large market share.”

Thanks to the depreciation common to pre-owned vehicles, however a used Toyota Prius in New Jersey may offer increased fuel economy at a price that may be attractive to more buyers.

New GM marketing plan could turn buyers to used cars in New Jersey

Consumers who don’t want to see their tax dollars put towards efforts to keep automakers like General Motors afloat may want to take a look at used cars in New Jersey in light of news concerning the source of funding for a new marketing initiative.

The National Taxpayers Union says that a recent report from a Congressional oversight panel finds that GM is unlikely to be able to pay back a $50 billion investment made by the government with public funds earlier this year. In spite of that news, the organization notes that General Motors is still moving forward with a money back guarantee program.

The fine print hasn’t been finalized yet, but GM vice president of marketing Bob Lutz says that in its basic form, the automaker will accept returns of any car that has been on the road for less than two months or driven less than 4,000 miles.

“According to the State of New York Banking Department, a new car loses up to 20 percent of its value the second it drives off a dealer’s lot,” reports the NTU in a statement on the program. “Should taxpayers be footing this bill for GM’s Zipcar-like incentive program?”

General Motors plan may increase number of used cars in New Jersey

Late night infomercials often tout that their products come with a money-back guarantee. Now General Motors is offering a similar 60-day guarantee, and the company admits that it may increase the supply of used cars in New Jersey and other states.

Buyers who are looking at Chevrolet, Buick, GMC or Cadillac vehicles now have the opportunity to return their purchases for up to two months and receive the full purchase price, notes Forbes. The campaign is designed to improve the perception of GM’s build quality, which has been seen as lacking compared to other manufacturer’s offerings.

“The parents went bankrupt, but the kids had nothing to do with it,” Lutz told the magazine of the new campaign, which avoids the stigma of government bailouts by not including the GM logo. “In the public eye, the brands are morally exonerated from the unfortunate moral event that befell their parents.”

The plan includes funding for a return rate of up to 3 percent of cars purchased, meaning that the company is willing to consider that several cars out of each one hundred sold could be returned, notes thetruthaboutcars.com. Although company officials estimate that fewer than 3 percent will actually be returned, they admit that it could increase the supply of used cars in New Jersey and nationwide.

Recouping the bailouts funded by owners of used cars in New York may never happen

Owners of used cars in New York, as well as other taxpayers, are currently on the hook for $74 billion that the U.S. government has invested in Chrysler and General Motors. A new report suggests that there’s no way they’ll make all their money back.

“With the economic suffering the American taxpayers have endured during the past two years one wonders why Chrysler and GM merited such generosity to the exclusion of other taxpayers,” Representative Jeb Hensarling told the Washington Post of the findings. The Republican was a member of the panel that issued the report.

Roughly $5 billion given to Chrysler isn’t likely to be repaid, and the loans to General Motors would require stock prices many times greater than current levels before the company could afford to pay them back, the newspaper notes.

Treasury Secretary Timothy Geithner defended the bailouts, saying that there would be benefits to American taxpayers, according to the Detroit News. He did admit that “some scenarios, which in Treasury’s view are more likely, show much lower recoveries for the initial loans made to GM and Chrysler.”

Buyers who ignored Cash for Clunkers may find affordable used cars in New York

Industry watchers say that the market for used cars in New York could see an upswing again, as buyers who chose to wait out the Cash for Clunkers program may now be looking to affordable pre-owned models.

Those who did will benefit from better pricing, since “oftentimes people buy cars and don’t know the difference between a good deal and a bad deal,” Jeremy Anwyl, Edmunds.com CEO, told the Chiacgo Tribune.

Buyers who didn’t wait to trade-in used cars in New York may have lost the chance to pick up less expensive vehicles because demand drove prices up during the Cash for Clunkers program, analysts told the newspaper.

The decrease in the number of new car purchases has been seen in some little-used metrics, including the revenues towns have generated from vehicle registrations.

In New Hampshire, some towns are facing shortfalls of hundreds of thousands of dollars because buyers are choosing not to purchase new vehicles, either waiting to trade-in or purchasing pre-owned cars instead, reports the Eagle-Tribune.

Toyota leaves factory, buyers may consider used Toyota Matrixes in New Jersey

Toyota has finally announced that it will no longer be able to sustain production at the NUMMI production facility, meaning that thousands may be out of work and some vehicles may only be available as used cars in New Jersey.

The Japanese automaker had previously built the Corolla compact sedan, the Matrix hatchback and the Tacoma there, but the Matrix was discontinued after General Motors shuttered Pontiac. Corollas will now be produced in Ontario, Canada and Tacomas will be built in San Antonio, company officials announced.

There had been a struggle to keep the facility viable after General Motors backed out of the joint venture that had led to NUMMI’s creation, and now aficionados may want to consider used Pontiac Vibes or a used Toyota Matrix in New Jersey.

“We remain strongly committed to maintaining a substantial production presence in the U.S. and North America,” said Atsushi Niimi, Toyota’s North American head. “To that end, we will consider moving additional Corolla production back to North America over time.”

Ford ups production that may increase supply of future used cars in New Jersey

Today’s new cars are tomorrow’s used cars in New Jersey, especially those that are often auctioned off after short lease periods, so Ford‘s announced commitment to increase production could be good news for buyers considering purchasing used cars.

The automaker announced that it was adding shifts at facilities that produce the compact Focus model as well as the venerable F-150 truck series, meaning around-the-clock construction for both vehicles.

That will also include the compact sports utility vehicles produced by the company like the Ford Escape and the Mercury Mariner, and stands in direct contrast to the capacity exhibited by both General Motors and Chrysler.

“Even with ‘Cash for Clunkers’ behind us, we expect that demand for our fuel-efficient, high quality new vehicles will remain strong,” said Ken Czubay, Ford vice president of marketing, sales and service. “We’re being as creative as we can in pushing the system to meet the demand for our products.”

On the other hand, those interested in the model lines from General Motors and Chrysler may be better served by looking at used cars in New Jersey: both companies posted slower sales growth from the Cash for Clunkers program due to production cuts that have limited the availability of new vehicles.

Used Toyota cars in New York may be a safer bet for winter driving

Buyers often look to Toyota because of a belief that they are reliable, according to some autmotive experts, but a new safety recall could point potential buyers towards used cars in New York instead of some current options.

The Japanese automaker is initiating a recall of nearly 100,000 Toyota Corollas, Matrixes and Scion xDs from model years 2009 and 2010 because of brake issues in freezing temperatures for cars that come with a 1.8 liter engine.

Officials from the company say that a cascading effect of moisture in the crankcase could cause freezing in the brake system, leading to reduced stopping ability for residents in New York and 18 other states.

Used Toyota Corollas have not been the subject of similar concerns, and buyers considering used cars in New York could be attracted to the 2005 model of the entry-level vehicle.

“It delivers a satisfying blend of fuel economy, refinement and reliability,” noted a Cars.com review. “Riding smoothly, Corollas feel solid and are confidence-inspiring”

The website also notes that buyers may enjoy the fact that it’s “long been one of the best compacts on the market,” with a powerful engine in some models.

Possible plant closure affects more than future supply of used cars in New York

While buyers who prefer used cars in New York may have seen the possible closure of the joint Toyota-General Motors plant, known as NUMMI, as a sign that some cars may stop being offered in showrooms, the impact on local families is also a growing concern.

Advocates with Friends of NUMMI, or New United Motor Manufacturing Incorporated, say that shutting down the plant puts 50,000 jobs at risk in California because there will be no future

The plant employs less than 5,000 people, but the organization says that the true scope of the shutdown includes suppliers and other local business that help to put out nearly half a million vehicles each year.

“I’m definitely worried about my future,” NUMMI employee Freddy Martin told the San Francisco Chronicle during a recent rally to keep the facility open. “I’m only hoping that all the tax incentives and business breaks the state is offering will make it possible for Toyota to stay.”

While General Motors has pulled out of the partnership, Toyota is in talks to keep the plant open, which may mean more used Toyota Matrixes in New York for future buyers.

European-derived model may not interest buyers of used Buick Regals in New Jersey

Part of General Motors efforts to revitalize its many lines of vehicles includes updates that come from its design teams worldwide, but the new Regal may not interest buyers who would prefer the American look of used Buick Regals in New Jersey.

The 2011 Buick Regal will be a rebadged Opel Insignia, a sedan sold in Europe that has a higher waistline and a more continental appearance, according to the Detroit News.

Recent speculation from automotive writers suggest that the new car would be unveiled at the Los Angeles Auto Show, marking the first Buick Regal in America in six years. Buyers who are turned off by the styling, however, could consider used Buick Regals in New Jersey.

The 2004 model costs less than some new motorcycles, and according to Edmunds.com editors, it is “a competent sedan for the money” with a supercharged V6 available in some trims and a roomy interior.

Updates for that year also included expanded wood trim and dual-zone climate control options, noted the website.