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New cars are getting more and more expensive. Kelly Blue Book reported earlier this month that the average transaction price of a new car was $35,541, up 1.8 percent compared to the same time last year. This has more consumers checking out the used car lot, causing demand to rise. “Customers forget a new car is now more than $30,000 and they expect it to be $20,000,” said Brian Allan, a senior director at Galpin Motors Inc., to the Wall Street Journal. “When people see the price has gone up, it is sticker shock, especially when people only buy a car every five to six years." Data from Edmunds reports that the gap between the price of a new and used car is now at one "of its largest points in more than a decade". Key reasons for this gap include consumers trending to trucks and SUVs, and automakers adding more expensive tech. This summer saw a strong demand for used cars and analysts are predicting this trend to continue throughout the rest of the year, partly due to dealers stocking more trucks and utility vehicles. Prices of used cars are also on the rise. Edmunds reports that buyers paid an average of $22,489 for a three-year old used car in the second-quarter - up $865 from the same time last year. This isn't good news for automakers as new car sales are starting to slow down and pressure could begin building to deepen discounts to lure consumers back. Lenders have been extending the length of loans and introducing 0 percent financing to make buying new more attractive. Source: Wall Street Journal (Subscription Required) View full article
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New cars are getting more and more expensive. Kelly Blue Book reported earlier this month that the average transaction price of a new car was $35,541, up 1.8 percent compared to the same time last year. This has more consumers checking out the used car lot, causing demand to rise. “Customers forget a new car is now more than $30,000 and they expect it to be $20,000,” said Brian Allan, a senior director at Galpin Motors Inc., to the Wall Street Journal. “When people see the price has gone up, it is sticker shock, especially when people only buy a car every five to six years." Data from Edmunds reports that the gap between the price of a new and used car is now at one "of its largest points in more than a decade". Key reasons for this gap include consumers trending to trucks and SUVs, and automakers adding more expensive tech. This summer saw a strong demand for used cars and analysts are predicting this trend to continue throughout the rest of the year, partly due to dealers stocking more trucks and utility vehicles. Prices of used cars are also on the rise. Edmunds reports that buyers paid an average of $22,489 for a three-year old used car in the second-quarter - up $865 from the same time last year. This isn't good news for automakers as new car sales are starting to slow down and pressure could begin building to deepen discounts to lure consumers back. Lenders have been extending the length of loans and introducing 0 percent financing to make buying new more attractive. Source: Wall Street Journal (Subscription Required) -
The Lincoln Continental is turning out to be very popular with potential buyers. Automotive News reports that Lincoln has a list of 40,000 people who are interested buying the Continental. “People are asking a lot of questions about the car. This is the most buzz I’ve seen in a long, long time,” said Dan Marks, chairman of the Lincoln National Dealer Council. The list in question is the Continental “hand raiser” list, comprising of consumers who have provided contact information to follow-up once more information is provided. According to Matt VanDyke, director of global Lincoln, this list is longer than the one for the MKX crossover. But trying to get interested consumers into buyers is going to be a difficult task. One that could make or break the Continental. Source: Automotive News (Subscription Required) View full article -
There's A Lot of Interest for the 2017 Lincoln Continental
William Maley posted an article in Lincoln
The Lincoln Continental is turning out to be very popular with potential buyers. Automotive News reports that Lincoln has a list of 40,000 people who are interested buying the Continental. “People are asking a lot of questions about the car. This is the most buzz I’ve seen in a long, long time,” said Dan Marks, chairman of the Lincoln National Dealer Council. The list in question is the Continental “hand raiser” list, comprising of consumers who have provided contact information to follow-up once more information is provided. According to Matt VanDyke, director of global Lincoln, this list is longer than the one for the MKX crossover. But trying to get interested consumers into buyers is going to be a difficult task. One that could make or break the Continental. Source: Automotive News (Subscription Required) -
It seems America isn't the only place that is interested in the Toyota Tundra. CarAdvice.com.au reports there is “enormous demand” for the Tundra in Australia. Speaking with Tony Cramb, Toyota AU's executive director of sales and marketing said there was room for a larger truck. But there are two key items withholding the Tundra from the Australian marketplace. “We have an enormous demand for a Tundra here in Australia, there’s no doubt if we could get a diesel Tundra, then I think we’d sell 100 a month. But regrettably because it’s manufactured in the States, it’s unlikely to happen that way," said Cramb “… We’ve had strong requests at dealer meetings to get the Tundra here, and we have made representation. But when it comes down to it, because it’s not LHD here, and because it’s petrol, in the end it’s very hard to make the case.” For now, those who are interested in buying a Tundra in Australia can visit an importer and pick up one for around 120,000 AUD (about $94,000). Source: CarAdvice.com.au View full article
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It seems America isn't the only place that is interested in the Toyota Tundra. CarAdvice.com.au reports there is “enormous demand” for the Tundra in Australia. Speaking with Tony Cramb, Toyota AU's executive director of sales and marketing said there was room for a larger truck. But there are two key items withholding the Tundra from the Australian marketplace. “We have an enormous demand for a Tundra here in Australia, there’s no doubt if we could get a diesel Tundra, then I think we’d sell 100 a month. But regrettably because it’s manufactured in the States, it’s unlikely to happen that way," said Cramb “… We’ve had strong requests at dealer meetings to get the Tundra here, and we have made representation. But when it comes down to it, because it’s not LHD here, and because it’s petrol, in the end it’s very hard to make the case.” For now, those who are interested in buying a Tundra in Australia can visit an importer and pick up one for around 120,000 AUD (about $94,000). Source: CarAdvice.com.au -
William Maley Staff Writer - CheersandGears.com October 16, 2013 Range Anxiety. A condition that still plagues electric vehicles. But it isn't limited to prospective customers who are worried about not having enough juice, it has now spread to rental customers. A number of rental car agencies have now started offering electric vehicles. This allows consumers to try an EV. But renters are returning the EVs much sooner and exchanging them for gas vehicle. “People are very keen to try it, but they will switch out of the contract part way through. Range anxiety makes them think they can’t get to a charging station,” said Lee Broughton, head of sustainability at Enterprise. Enterprise data shows that on average, renters trade EVs in 1.6 days into the rental period compared to the 6 to 7 days of a standard gas vehicle. Christopher Agnew, an analyst at MKM Holdings LLC says that a longer range would help renter's range anxiety, especially in places where they don't where they're going. Now you can rent a Tesla Model S if you go to certain place, but expect to pay a pretty penny. MPG Car Rental based out of Venice, CA rents a Model S for $500 per day. To put that in perspective, a Prius Plug-In costs $99 per day. Despite these setbacks, rental car companies say they will keep buying EVs for their fleets. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article
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William Maley Staff Writer - CheersandGears.com October 16, 2013 Range Anxiety. A condition that still plagues electric vehicles. But it isn't limited to prospective customers who are worried about not having enough juice, it has now spread to rental customers. A number of rental car agencies have now started offering electric vehicles. This allows consumers to try an EV. But renters are returning the EVs much sooner and exchanging them for gas vehicle. “People are very keen to try it, but they will switch out of the contract part way through. Range anxiety makes them think they can’t get to a charging station,” said Lee Broughton, head of sustainability at Enterprise. Enterprise data shows that on average, renters trade EVs in 1.6 days into the rental period compared to the 6 to 7 days of a standard gas vehicle. Christopher Agnew, an analyst at MKM Holdings LLC says that a longer range would help renter's range anxiety, especially in places where they don't where they're going. Now you can rent a Tesla Model S if you go to certain place, but expect to pay a pretty penny. MPG Car Rental based out of Venice, CA rents a Model S for $500 per day. To put that in perspective, a Prius Plug-In costs $99 per day. Despite these setbacks, rental car companies say they will keep buying EVs for their fleets. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. -
William Maley Staff Writer - CheersandGears.com June 14, 2013 The new Ford Fusion has become an instant hit with consumers. It's currently in a four car race for the best selling midsize sedan in American and has helped Ford crack into the east and west coast markets, two places where Ford has lagged in sales. With all of that success, Ford is finding itself with a Fusion supply problem. “Inventory is going to be real tight during the summer months,” said Erich Merkle, Ford’s U.S. sales analyst to The Detroit News. According to Wards Auto, Ford is currently sitting on a 39 day supply of Fusions. To put it another way, if Ford stopped production of the Fusion, they would have enough supply to last 5 1/2 weeks. The industry average for supply stands at 60 days. Most of this is coming from the coasts which have taken a huge liking to the Fusion. Ford currently builds the Fusion at its Hermosillo, Mexico plant, and later this year will begin building the Fusion at its Flat Rock, MI plant. The plant in Mexico can produce about 300,000 Fusions annually; Flat Rock can add another 100,000 Fusions annually. Ford is planning to send more Fusions out to the coasts to help stabilize inventory. “Clearly, it's a matter of getting more stock out to those regions of the country and that's what we plan to do in the fall when we get Flat Rock on line,” said Merkle. “Although midsize is still the best-selling segment, in terms of growth, things have stabilized. With such competitive products from the four automakers, it's going to be a very, very tight race to try and own the segment outright,” said Alec Gutierrez, senior analyst at Kelley Blue Book. Source: The Detroit News William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. -
William Maley Staff Writer - CheersandGears.com June 14, 2013 The new Ford Fusion has become an instant hit with consumers. It's currently in a four car race for the best selling midsize sedan in American and has helped Ford crack into the east and west coast markets, two places where Ford has lagged in sales. With all of that success, Ford is finding itself with a Fusion supply problem. “Inventory is going to be real tight during the summer months,” said Erich Merkle, Ford’s U.S. sales analyst to The Detroit News. According to Wards Auto, Ford is currently sitting on a 39 day supply of Fusions. To put it another way, if Ford stopped production of the Fusion, they would have enough supply to last 5 1/2 weeks. The industry average for supply stands at 60 days. Most of this is coming from the coasts which have taken a huge liking to the Fusion. Ford currently builds the Fusion at its Hermosillo, Mexico plant, and later this year will begin building the Fusion at its Flat Rock, MI plant. The plant in Mexico can produce about 300,000 Fusions annually; Flat Rock can add another 100,000 Fusions annually. Ford is planning to send more Fusions out to the coasts to help stabilize inventory. “Clearly, it's a matter of getting more stock out to those regions of the country and that's what we plan to do in the fall when we get Flat Rock on line,” said Merkle. “Although midsize is still the best-selling segment, in terms of growth, things have stabilized. With such competitive products from the four automakers, it's going to be a very, very tight race to try and own the segment outright,” said Alec Gutierrez, senior analyst at Kelley Blue Book. Source: The Detroit News William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article
