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KBB predicts resale value for Chevrolet Volt

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Posted in Chevrolet

Buyer beware if you plan on springing for a new Chevrolet Volt: new info from Kelley Blue Book suggests that the car will likely have a pretty low resale value.

According to the used car pricing guide, the $41,000 car will drop down to $17,000 after three years of use, which is the length of an average lease. That means the car retains 41 percent of its value after three years. Compare that to something like the Toyota Prius, which averages about 46 percent of its value, and the car doesn't look so good by comparison.

However, if you factor in the $7,500 federal tax credit, things work out a little better for buyers. Then the purchase price is $33,500, meaning the Volt beats the Prius with 51 percent of its value retained.

The used car guide's prediction makes the assumption that gas will remain at $4 per gallon in 2014. Indeed, the car's value seems to be tied directly to fuel prices. If gas prices were to rise even more between now and then, it's likely the Volt would be valued more highly. Conversely, if people end up paying less for gas, they won't have much incentive to buy a Volt.

Of course, smart shoppers can also take advantage of this fact. If you hold out on purchasing the Volt now, you can score on its low price once they start to hit the used car market. 

Report: Japanese automakers stand to lose sales because of earthquake

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Posted in General Auto News, Toyota

New research shows that Japanese automakers stand to lose nearly 200,000 sales to competitors due to the lingering effects of last month's massive earthquake.

Toyota, Nissan and Honda are still dealing with supply chain issues as they try to source parts from manufacturers that were badly damaged by the quake. That's led to a major production slowdown that is affecting their ability to deliver vehicles to the U.S.

Because of this, a new A.T. Kearney report sees U.S. buyers turning elsewhere. In total, the Japanese manufacturers could lose 193,000 new car sales to competitors from the U.S. and Europe. That may sound like a drop in the bucket when the total sales for the year is projected to be above 13 million, but given the extremely competitive nature of the auto industry, the difference is significant.

"It's a pretty big deal in a very highly competitive market," said Dan Cheng, A.T. Kearney's automotive branch head.

New car prices continue to be high because of the limited supply in the wake of the earthquake and high gas prices driving up demand for fuel-efficient vehicles. Drivers looking to save money should head to New Jersey State Auto Auction and shop used cars, which are typically much cheaper.
 

Ford Freestyle to be investigated for “lunging”

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Posted in Ford

It's not quite the unintended acceleration issues that landed Toyota in hot water with the National Highway Traffic Safety Administration, but Ford finds itself in a similar boat due to a new investigation into unintended "lunging" on one of the company's discontinued models.

The Ford Freestyle was a crossover made between 2005 and 2007, which was later redesigned as the "Taurus X" (which itself was discontinued two years later). Ford is likely looking to forget all about the low-selling vehicle, but the Freestyle is rearing its ugly head once again. After receiving more than 200 complaints, the NHTSA has launched an investigation into the Freestyle for reports that the car may "lunge" forward at low speeds.

A reported 18 crashes have been attributed to the issue, according to Reuters, with one resulting in minor injuries. The issue is not as serious as the unintended acceleration that Toyota was accused of, as it does not happen at high speeds, and brakes can immediately slow the car. Still, a car unexpectedly "lunging" ten feet is not to be taken lightly.

Ford and the NHTSA have had a close working relationship lately, likely to the automaker's chagrin. The bureau has also launched an investigation into Ford's F-150 pickup trucks for a separate issue.

Drivers interested in purchasing a used Ford Freestyle may want to hold off for the time being. Fortunately, New Jersey State Auto Auction offers a wide range of other models at affordable prices.
 

Kia upgrades Sorento crossover with new engine

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Posted in Hyundai

Kia has announced that its Sorento crossover will be getting an upgrade for the 2012 model year, with a new engine expected to boost fuel efficiency and performance.

Official EPA numbers aren't available for the new 2.4-liter four-cylinder engine, but USA Today says it will "almost certainly boost gas mileage" for the crossover, which already earned 21 miles per gallon in the city and 29 on the highway, very good numbers for a crossover vehicle.

On the performance front, the new engine uses direct injection technology, a change for the brand. Autoblog states that horsepower will be boosted from 175 to 200 for the new Sorento. Typically, upgrades to fuel economy and performance are mutually exclusive: a bigger engine means more fuel usage. So this is a rare coup for the South Korean automaker that's sure to move some models.

The Sorento will also enjoy an upgrade on the interior, courtesy of the new UVO hands-free "infotainment" system. Kia and its parent brand Hyundai are beginning to incorporate UVO into their vehicles, so it makes sense that the family-friendly crossover would be one of the first to get the treatment.

That said, new car prices are high right now, so drivers may want to hold off for the time being. Waiting for the Sorento to hit the used car market can bring drivers significant savings.
 

IIHS commends Ford, Toyota, for pickup roofs

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Posted in Ford, General Auto News

The Insurance Institute for Highway Safety (IIHS) recently revealed the test results of its new roof-strength procedure for pickup trucks, and Ford and Toyota now have something to brag about.

The group, which runs safety tests for every vehicle, found that the Ford F-150 and Toyota Tundra were the best of the bunch when it came to roof strength, with both cars earning the top rating of "good" in the tests. Roof strength is seen as one of the key components for surviving rollover crashes, and thus the IIHS has began incorporating roof strength into its safety considerations.

In the latest batch of testing, the crew-cab models of the most popular pickup trucks were put to the test. After Toyota and Ford, the Nissan Titan was awarded with an "acceptable" commendation. The trucks bringing up the rear were all American models: the Chevrolet Silverado, Dodge Ram and GMC Sierra all only managed "marginal" ratings.

The news is certainly good for Ford and Toyota, but the IIHS cautions that the rating only applies to the newest Ford F-150s, specifically those manufactured after February of this year. Ford made some major changes to its roof recently in order to make it stronger, which were seen as key in the automaker passing the test.

Drivers interested in a used pickup should do their research on safety before buying. Fortunately, there's plenty of crash test data available from the IIHS and other sources, which date back several years.  

After earthquake, Nissan stands strong

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Posted in General Auto News, Nissan

When it initially hit, the Japanese earthquake looked to have been equally disastrous for all three automakers: Nissan, Honda and Toyota. However, new information has revealed that Nissan may not be struggling as much as initially thought.

In a letter to its U.S. dealers, the Japanese brand claimed it has a 64-day stock of vehicles, compared to 48 for Toyota and 36 for Honda. This gives Nissan a significant edge over its rivals going into the summer sales months.

""We are in very good shape and have a competitive advantage over our main rivals going into May, and one that is only likely to get stronger as we go through the summer," Al Castignetti, Nissan's vice president of U.S. sales, said in the letter. "I am sure we will also get some surprises as we stretch our suppliers, but we expect to have better pipeline supply than either Toyota or Honda."

Castignetti went on to say that the company wants to "rev the Nissan engine" and grab market share from its rivals over the coming months. This could mean some significant savings for buyers if Nissan decides to use aggressive pricing to do so.

While new cars may have discounts from time to time, buying a used car is always cheaper. New Jersey State Auto Auction offers a great selection of used Nissans as well as other brands at affordable prices.

New Jersey woman regains stolen car after 36 years

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Posted in Chevrolet, General Auto News

After an online car-buying transaction gone wrong, a New Jersey woman ended up reunited with her used Chevrolet Camaro, which was stolen 36 years ago.

Keith Williams of Santa Maria, California, frequently buys used cars online, as he collects classic models. A beautifully-restored 1969 Camaro caught his eye, but he was concerned when he got the car. The buyer listed the vehicle as an SS, but Williams noted a number of inconsistencies between that version of the car and the one he had.

Williams went to the police with his findings and they ran the vehicle identification number. That led them to New Jersey, where the Newark Police Department was able to find an old police report – on microfilm – that revealed the car had originally been stolen back in 1975.

The police were able to track down the woman, who wishes to remain anonymous, and reunite her with the old car. Williams made out okay, as he had buyer's insurance, which sent him a full refund for the purchase he made online.

Buying used cars online can be a bit dangerous if you don't know what you're doing. Instead, consider New Jersey State Auto Auction, which offers a wide variety of vehicles at affordable prices. 

Ford may partner with Google for predictive auto software

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Posted in Auto Industry News, Ford

Ford has announced that it is considering using Google's Prediction API to develop smarter vehicles that can attune to a driver's on-road habits.

At the recent Google I/O conference, Ford revealed that it was looking at implementation strategies for the Prediction API, which is a piece of software with broad applications. Google uses the algorithms to "predict" things like which pieces of e-mail are spam and what a user's online shopping tendencies may be. However, Ford is looking to take things in a different direction.

By gathering data about how a user drives and the routes they normally take, the automaker is looking at ways to improve efficiency in vehicles, especially upcoming hybrids and electric cars. The theory is that the prediction software will be able to recognize things like a driver starting up the car on weekday mornings for their morning commute. The vehicle would then be able to use the data from previous commutes to map out the best route, tune the engine for best performance and utilize less energy from electric systems if applicable.

The driver would be able to confirm with the system before the changes were made, and most won't even be noticed. Ford stressed that it's not about changing a driver's habits, but adapting to them.

While new technology is always a cool reason to buy a car, changes like this aren't planned for years at least. In the meantime, drivers may want to consider buying a used Ford from New Jersey State Auto Auction to save money.

First pipeline-supported hydrogen station opens in California

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Posted in Auto Industry News, Toyota

Automakers have always said that the key hurdle for adoption of hydrogen vehicles is a refueling infrastructure, and the country took a baby step forward today with the launch of the first pipeline-fed hydrogen refueling station, located in Southern California.

California has been an early adopter of the technology, and there are estimated to be a few hundred hydrogen-powered vehicles on the road. Honda leases the FCX Clarity, a hydrogen car, to drivers in SoCal for this reason.

Obviously, that doesn't leave a very big market for customers. Refueling stations do exist, but they are not fed by a constant pipeline. This new facility, located amid a cluster of automotive companies like Toyota, will not only be open to customers, but it will provide hydrogen free of charge. That's right – hydrogen car owners in this part of the country can essentially drive for free.

Other than that, the station will mainly be shared by the major automakers as they develop test fleets for their upcoming hydrogen vehicles. Honda's FCX Clarity may be the best-known model now, but Toyota, Hyundai and GM all plan to have a commercially-available hydrogen model available by 2015.

In the meantime, drivers looking for fuel-efficient, eco-friendly vehicles may want to check out the used cars at New Jersey State Auto Auction, which offers a wide range of models.
 

Ford goes to Facebook for help with naming

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Posted in Ford

Ford is planning to offer Mustang fans some new options for the V6 version of the muscle car this summer, with a new performance-oriented package that will make this already-fast car even more fun to drive. The only problem was, they needed a name for it.

So the automaker turned to their 1.4 million fans on Facebook for some ideas by launching a contest to name the performance package. More than 3,000 names were submitted, with Ford choosing some of the best and posting them on the Facebook page for voting.

Eventually, the automaker decided to take the top five vote-getters and choose internally which was the best fit. The winner was "Mayhem," which was submitted by a fan from North Carolina. Ford recognized the effort by offering the user a three-year lease on a brand-new Mayhem Mustang.

"We saw great enthusiasm from fans, with tons of creative, unique names coming in," said Brian McClary, Ford social and emerging media specialist. "The contest was twofold – it let us engage with fans by letting them have a say, and it helped build awareness for the package."

Drivers may want to consider purchasing a used Ford Mustang rather than a new one, as this famous pony car can be a bit pricey when bought at the dealer.