Category Archives: Chevrolet

Car rivalries heating up in early months of 2011

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Posted in Auto Industry News, Chevrolet, Ford

It's baseball season again, but the biggest rivalry in the country may not be between the Yankees and Red Sox. If the early sales numbers are any indication, the real competition people should be watching is between the Ford Mustang and Chevrolet Camaro.

The rivalry dates all the way back to the sixties, and the current incarnations of the vehicles are so close in price and statistics that it's easy to say General Motors and Ford take the competition very seriously. March was a good month for Ford, as the automaker was able to outsell GM for just the second time since 1998. Yet it couldn't surpass the Camaro, according to USA Today, which sold 8,964 units to the Mustang's 8,557. Chevrolet also easily won January and February thanks to some nice incentives, making the overall score so far 19,972 to 15,419.

In more modern rivalries, Ford is doing a bit better. Its Fiesta subcompact is thrashing the Honda Fit and Toyota Yaris, selling 9,787 vehicles in March alone. Of the two other cars, the Fit was closest, with 6,955 cars sold.

The closest race, however, is between minivans. The Honda Odyssey and Toyota Sienna are very similar cars, and Honda only eked out the win by about 100 vehicles, selling 10,586 compared to Toyota's 10,449.

Drivers interested in any of these vehicles should consider New Jersey State Auto Auction, which offers both new and used versions of these popular models.
 

GM to broadcast Malibu launch on Facebook

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Posted in Chevrolet, General Auto News

General Motors has announced that the new Chevrolet Malibu will be officially unveiled at the Shanghai Auto Show on April 19th, but fans can follow along at home as the event will be simulcast live on the internet through the use of social media.

The first teaser image of the new 2012 Malibu is now available on the brand's Facebook page. Facebook is an integral part of the launch for the vehicle, as it's also where drivers interested in seeing the new car will go to watch the unveiling live in Shanghai. Beginning at 8:30 P.M. on April 18th, users who log on to the website will be able to pick up the live feed from the event. GM will also hold a live question and answer session, choosing questions posted to the company's Facebook wall and Twitter feed.

"It's definitely a new and different approach," Dave Darovitz, a GM spokesman, told the Detroit News. "But because of the global reach of this car, social media is a big part of our launch plans."

The 2012 Malibu is an important launch for GM, as the car is the automaker's best selling vehicle and has won numerous awards in its current incarnation. Still, GM has yet to catch the sedan segment leaders, like the Honda Accord and Toyota Camry.

Drivers interested in a new or used Chevrolet Malibu or any other vehicle may want to consider New Jersey State Auto Auction for all their purchasing needs.

Many dealers marking up Volt, Leaf

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Posted in Chevrolet, General Auto News

The Chevrolet Volt and Nissan Leaf debuted with much fanfare as the first mass-market electric vehicles. However, it appears that the supply did not match up with the reception. Many dealers were only able to receive a select few of the electric vehicles, creating a situation where many buyers were vying for one car.

That situation is essentially a dealer's dream, as the competition creates an opportunity to take advantage and charge as much as possible. Many dealers frown on so-called "price gouging" – marking the price of the vehicle up by thousands of dollars – but others see it as standard operating procedure on vehicles such as this.

According to BNet, the prices for some of these Volts and Leafs are getting astronomical. One California dealer is reportedly asking for an extra $20,000 on top of the Volt's already-high $41,000 MSRP. An early adopter of the Nissan Leaf told the news source that he was once offered $70,000 for the car, and many others offered to pay as much as $10,000 over retail.

Fortunately for buyers, combating price gouging is simple – just wait. If you need a new car today, it's better to spend a few thousand on a used car and wait for the price of the car you really want to drop. Even better is to wait until the model you're eyeing hits the used car market itself, where you can really snag it at a discount. When the time comes for a vehicle purchase, New Jersey State Auto Auction is a great spot to take advantage of low prices. 

What the GM-Ally split means for borrowers

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Posted in Auto Loans & Financing News, Chevrolet

General Motors' recent announcement that it will be selling more than $1 billion dollars worth of preferred stock in Ally Financial is the latest development in a tangled web of mergers and acquisitions that has left the auto lending industry quite different from what it was years ago. This can be a bit confusing for borrowers, so its worth sorting out where all the loans are coming from.

The first step to understand is that automakers frequently use what is known as "captive lending arms." These are essentially subsidiary companies that solely focus on auto financing rather than the production and sale of vehicles. Perhaps the largest and most famous of these was GMAC, which handled all of the in-house loans for GM customers. Many automakers can actually make more money off of loans than they can selling vehicles, and for this reason its highly desirable for an automaker to own a lending company.

GMAC was sold to a group of investors in 2006, but GM retained a share of the company and they continued to work closely in the lending business. After the economic collapse took its toll on the automotive industry, both companies accepted bailouts from the federal government. GM was able to bounce back from this disaster more quickly than GMAC, which later rebranded itself as Ally Financial.

With the credit market thawing and more automakers beginning to offer car loans to drivers with subprime credit histories, GM was in need of a captive lender again. Some analysts thought that the company would look to reacquire Ally, but instead the automaker acquired independent lender AmeriCredit in a deal valued at $3.5 billion. This left the company's partnership with Ally somewhat in jeopardy, as the financier continued to provide loans at GM dealerships nationwide.

The most recent news is that GM is selling off all of its preferred stock options in Ally, and appears to be fully supporting AmeriCredit as the new lender of choice. GM still owns approximately 10 percent of Ally through common stock, so it's unlikely that their partnership is completely over. The use of AmeriCredit is somewhat preferable for borrowers with bad credit scores, as the company has historically been more open to subprime lending than Ally has.

Despite the split, Ally will likely continue to be a major force in the auto lending market. The company recently reported its fourth-straight quarterly profit, and appears to be looking to launch an initial public offering and pay back the government later this year.

Of course, borrowers should research all options when looking to acquire an auto loan. Banks, credit unions and dealerships may all offer terms that are preferable to the loans from the major automakers.
 

Chevy Colorado will come to U.S.

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Posted in Auto Industry News, Chevrolet

Chevrolet has unveiled its new compact Colorado pickup truck ahead of its official debut at the Bangkok International Auto Show later this week, confirming that the model will be coming to the U.S. in the process.

The compact pickup truck, once a viable market segment, is all but dead in the U.S., as American buyers tend to prefer trucks that are large and in charge. However, after Ford announced that it will be making the Ranger for foreign markets only, Chevrolet appears primed to step into the vacuum and snatch up any consumers who still prefer the smaller trucks.

"There's a market for compact pickups in America," said Haykel Ammari, general manager of a Chevy dealership just outside Boston. "It may not be the biggest segment in the country, but there are drivers out there who need the versatility of a truck but don't need the fuel costs of a full-size model."

International demand for the models remains strong, which perhaps explains Chevrolet's decision to debut the truck in Thailand rather than the U.S. A version of the GMC Canyon based on the same platform of the Colorado is also rumored to be in the works, although it hasn't been confirmed yet for U.S. shores.

Drivers interested in a new or used Chevrolet Colorado may want to visit New Jersey State Auto Auction, where they can find a great deal on the truck and many other models.
 

Japanese suppliers affected by earthquake could slow U.S. auto production

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Posted in Auto Industry News, Chevrolet

General Motors has announced that it will be temporarily halting production at its Shreveport, Louisiana, factory due to a parts shortage caused by the recent earthquake in Japan.

When the earthquake and tsunami hit, many auto industry analysts predicted that the quake could have dire effects for Toyota, Nissan and Honda, as the three automakers all source parts from various suppliers in Japan. The current status of those suppliers, especially the ones located in the areas badly affected by the blast, is currently unknown.

Yet many didn't predict that the effects could have far-reaching consequences for the industry as a whole. General Motors actually sources many of its parts from Japan, and with the country practically crippled in the wake of the disaster, GM was forced to shut down production at the Louisiana plant, which produces the GMC Canyon and Chevrolet Colorado pickup trucks.

GM isn't likely to be the only company affected. It's also believed that Ford sources a variety of parts from Japan, and the automaker has said it is monitoring the situation closely. Honda, Nissan and Toyota could be forced to slow or halt production at U.S.-based plants as well.

It's unknown how much this will affect production totals for the year, but it's not unreasonable to assume that some popular models may fall victim to a shortage. Drivers interested in making a purchase should head to New Jersey State Auto Auction before the problems become widespread and prices begin to spike.

GM to unveil new Colorado in Thailand

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Posted in Chevrolet, General Auto News

General Motors has unveiled the first teaser image of its new Chevrolet Colorado pickup truck, but it may be some time before U.S. audiences get to drive it.

While Chevy's marketing tends to play up the American aspects of its vehicles, the new pickup won't be debuting in North America first – that honor goes to Thailand. The truck will make its world debut at the Bangkok International Motor Show on March 25th.

"Thailand was chosen as the site of the global debut because of the popularity of pickup trucks and the growing importance of the Thai market to Chevrolet," a GM press release says. "In 2010, the pickup truck segment alone accounted for 43 percent of vehicles sold in Thailand. The new Colorado will go on sale in Thailand later this year."

In fact, the truck hasn't even been officially confirmed that it will appear in American showrooms at all, although PickupTrucks.com previously reported that both the Colorado and a new version of the GMC Canyon are on the way.

The new Colorado appears to retain the medium size of its predecessor while also taking some design cues from the Chevy Equinox SUV, which has been a big hit for GM.

Drivers in the market for a pickup truck may want to head down to New Jersey State Auto Auction, which has a wide variety of makes and models available for purchase.
 

Analysts predict February sales gains

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Posted in Auto Industry News, Chevrolet

It wasn't just couples who were in a romantic mood in February – the auto industry got some love, too.

Most major analysts are predicting significant sales increases for the industry in February, as consumers helped automakers post some big gains. J.D. Power and Associates announced a forecast of 917,000 total units, or a 17.3 percent increase over February 2010. Edmunds was a bit more optimistic, with 937,000 units, or a 20.1 percent gain. Those figures also represent an improvement over January.

Both analysts acknowledged that the month started off slow, with J.D. Power attributing the sluggish sales to the fact that much of the country was pounded by snowstorms. Edmunds said that traffic began to pick up over President's Day weekend, however, as dealers held special sales to entice buyers.

Among automakers, GM is forecast to have the biggest gains by far. Edmunds pegged the company as posting a 37 percent increase year-on-year, with a 9 percent rise over January. Other major manufacturers expected to post above-average sales figures include Toyota (29 percent) and Nissan (27 percent).

It's a great time to buy a vehicle, but drivers who want to get the best deal while browsing a wide selection should consider paying a visit to New Jersey State Auto Auction.

Chevy Cruze to get diesel option

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Posted in Chevrolet

General Motor's new Chevrolet Cruze just had a successful launch a few short months ago, but it looks like GM isn't content to just rest on its laurels. A new report claims that the car will be offered with a new 2.0-liter diesel engine.

According to GM Inside News, an independent website, sources at the Lordstown, Ohio, factory revealed that workers have been told that they will begin building a diesel-powered Cruze for the 2013 model year.

In addition, test models of the Chevy Cruze have reportedly been spotted on the streets of Detroit, with the cars sporting a "diesel" badge on the rear.

If true, the report is not all that surprising. According to the news source, the Cruze is GM's first truly global vehicle, and is sold in more than 60 different countries. Many of those countries have both gas and diesel-powered versions available for purchase.

A 2.0-liter diesel engine is offered on one version of the Cruze in Australia. That model reportedly gets approximately 34 miles per gallon while producing 147 horsepower and 235 lb-ft of torque.

Drivers interested in a used Chevrolet or any other vehicle may want to check out New Jersey State Auto Auction.  

Chevy unveils new Camaro ZL1

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Posted in Auto Industry News, Chevrolet

The pony car war between the Ford Mustang and Chevrolet Camaro just got a performance boost.

Chevy pulled the lid off its new Camaro ZL1 at the Chicago Auto Show today, revealing a 550-horsepower monster designed to go toe-to-toe with the various special editions of the Mustang that Ford has been rolling out in recent years. The automaker claims that the new ZL1 is the fastest Chevy ever built, powered by a supercharged 6.2-liter V8 engine and equipped with a "track-ready" suspension and brakes

"Camaro ZL1 is about high-tech performance and design, and is a type of car no one has ever brought to this segment previously," said Rick Scheidt, vice president of Chevrolet marketing in a news release. "It's the most technically advanced Camaro ever, so we've chosen a name from the most elite and exclusive Camaro in history."

For those who only came onto the pony car scene recently, the ZL1 moniker refers to limited edition engine offered in some versions of the 1969 Camaro. The Wall Street Journal calls the ZL1 the "Holy Grail" of Camaro engines.

While the sleek and powerful ZL1 certainly wowed the audience, it's unknown when the limited edition car will eventually hit showrooms – or how much it will set drivers back.