Corvette fans all over the world can rejoice in knowing the racing-inspired Grand Sport is making a return for summer in 2017. After a three year hiatus from the Corvette lineup, Chevrolet announced its plans to bring the Grand Sport back last week at the Geneva International Motor Show.
According to Experian Automotive’s State of the Automotive Finance Market Third Quarter 2015 report, outstanding automotive loan balances have jumped up 11.3% to $968 billion. The rise is roughly $100 billion more than the same period in 2014.
Regarding wholesale auction prices, not much has changed compared to last week. Gas-powered Jetta and Passat prices for model years 2011-2013 have fallen by amounts similar to those of their respective segment. In the five most recent weeks post-issue, 2011-2013 gas-powered Jetta prices declined by a range of 4.2% – 9.2%. During this same period compact car segment prices were down by an average of 3.2% – 3.9%. Similar to the Jetta, 2012 – 2013 gas-powered Passat prices have declined by 1.9% – 6.8%, whereas average midsize car prices declined by 3.1% – 3.8%.
Wholesale auction prices, gas-powered Jetta and Passat prices for model years 2011-2013 have fallen by amounts similar to those of their respective segment.
Through the first half of August, wholesale used prices for vehicles up to eight years in age dropped by 3% relative to July. The month’s preliminary result is nearly identical to last August’s month-end figure of 2.9%.
The all-new aluminum-bodied 2015 Ford F-150 crew cab recently received the Insurance Institute for Highway Safety’s 2015 Top Safety Pick award; however, the extended cab version struggled in an important small overlap crash test. While crew cab versions of the F-150 earned solid ratings for occupant protection in all five IIHS crashworthiness evaluations, extended cab versions earned good ratings in four out of five assessments, but only managed a marginal rating in a key small overlap front crash.
Over the past several years, rebates and tax credits have been an effective tool used by automakers to sell electric vehicles (EVs) to lower the MSRP potential consumers face. The use of these incentives has helped narrow the price gap between EVs and comparable internal combustion engine (ICE) models, ultimately getting more buyers into the seats of EVs.
Ford Motor Co. has dusted off some old tricks in order to help boost sales by way of old-school stair-step incentives. So far the ploy seems to be working. Ford was able to grow sales by 6% in April, which was much better than the 3.7% loss the brand recorded in March. New product like the Mustang, Edge and F-150 certainly help, but the allure of added profits undoubtedly pushed dealers harder as well.
After finishing the month up by 2.3% in March, wholesale prices for used vehicles up to eight years have fallen by 1.3% through the first three weeks in April. So far, April’s loss is a slight improvement over the 1.5% decline averaged for the month over the past 10 years (excluding 2011’s rise in prices caused by the Japanese tsunami).
At the 2015 NADA & J.D. Power Automotive Forum held before the New York International Auto Show, Investment mogul Warren Buffett―who seems to own a piece of everything― answered several questions before a packed hotel ballroom.
According to the business mogul, “[Automobile Dealerships] can be a good and very profitable business.” Buffett went on to suggest that over the course of the next few years there will be several more acquisitions by his company Berkshire Hathaway, but there are no plans to expand outside of the U.S. anytime soon.