Lending Freeze Thawing for Auto Buyers
Backed by a trillion-dollar government program to guarantee loans sold to investors, banks and other lenders are signing off on more auto loans. There were 5.5% more car loans in the third quarter compared to the second quarter of 2009. Used-car prices are also stable, making used-car loans more attractive.
Electric Truck Demand Increasing from Fleet Buyers
Electric truck makers can expect a good year in 2010 as companies and government agencies buy these vehicles to reduce their CO2 emissions and pollution, and benefit from government loans and tax incentives. Smith Electric Vehicles says it's trying hard to meet back orders from several major corporate customers.
Ford Unveils Hot New App MyTouch at Consumer Electronics Show
Ford CEO Alan Mulally keynoted the Consumer Electronics Show in Las Vegas for the second year running. Infotainment system Sync gained touchscreen control system MyTouch to continue Ford's edge over other automakers. Quality and technology are growing market share for Ford and returning it to profitability.
2009 CPO Vehicle Sales Down but Some Brands Improved Performance
Certified pre-own vehicle sales were down 8.7% in 2009 from 2008, but Asian brands and some German brands performed well increasing sales significantly. Domestic automakers performed the worst. Consumers increasingly are turning to Internet searches to find vehicles so it is important for dealers to keep a good stock posted.
RVI Group Sees Used Prices Climbing Over Next Four Years
The RVI Group is forecasting used-car prices will climb 5% in 2010 and continue showing growth over four years. Peak year-over-year swing could reach 13% in 2012. Luxury midsize sedans are expected to see one of the largest price hikes.
