Dealers were hoping 2011 would be a better year for Chevrolet Silverado and GMC Sierra pickups to sell strong. Economic figures were getting better and GM?s production schedule was going with the assumption sales would increase more, which has not been the case. Car sales have been great for GM, but its truck inventory is at 122 days worth supply while Ford?s pickups are at 79 days.
General Motors and Ford have made big strides forward selling subcompact and compact cars, segments dominated for many years by Japanese competitors. The Chevrolet Cruze just beat out the Honda Accord and Toyota Camry to lead the compact category, but the Detroit automakers will face renewed competition in months ahead.
Earl Stewart of Earl Stewart Toyota, North Palm Beach, FL, recently repurchased a 2010 Toyota Prius from a customer for more than they originally paid. Purchased used for $20,500, the owners drove it 26,000 miles before selling back to the dealer for $22,000. The supply level for Prius models has bounced in the 10-day range and possibly as low as 4 days. Dealers normally operate with a 60-90 day inventory.
Most of the gasoline sold in the US contains a blend of 10% ethanol. The Environmental Protection Agency has been moving forward on increasing that amount to 15% blend for light-duty passenger vehicles 2001 model year and older. Twelve automakers have sent letters protesting the decision to Rep. James Sensenbrenner (R-Wis.), who?s introduced legislation blocking the EPA from allowing E15.
A bill introduced by Rep. Carolyn McCarthy (D-NY) would make distracted driving a federal offense. Currently cell phone use and other technology use while driving is being covered by the states with varying regulations. The McCarthy legislation would make distracted driving laws the same in all 50 states.