Small Firms Seek Federal Loans to Develop Electric Cars
Small entrepreneurial companies are developing electric and hybrid-electric vehicles to compete with major automakers. Using consortiums of component manufacturers and federal energy loans, they hope to leapfrog major automakers in technology and to market.
Auto Group Finds Ways Around High Auction Prices
As auction prices for used vehicles continue climbing, Vision Automotive Group looks at all methods for sourcing inventory. The 6-store group will buy online, travel to many different auctions and use outside staff to cover even more auctions. A partnership with EasyCare has also helped spur record sales results.
Beyond Clunkers, July Had Good News for Used Vehicles
Despite the "Cash for Clunkers" program, there were solid used-vehicle sales and higher residuals and recovery rates, says Manheim chief analyst, Tom Webb. Says Webb, dealers also saw improvement in retail gross margins in the used vehicle sector.
NADA Says Auction Prices Maintain Upward Climb
Early August numbers from NADA show wholesale prices continuing to climb. Cars are up 1.5% from July while SUVs are up 1.2%. Year over year, pickup prices have risen more than 30% from July 2008. NADA's volatility index still shows large SUVs with the highest number while luxury large SUVs had the lowest.
