Filed under: Car Buying , Etc. , Hummer , Toyota CarMD has released its third annual Vehicle Health Index, which for the 2013 tracked the frequency and cost of repairs for “check engine” problems of 119-million vehicles built between the 2003 and 2013 model years. For the first two years of the index, Toyota ranked at the top of the list, but this year’s results see Hyundai moved to number one, pushing Toyota down a spot. The Korean automaker’s rise to the top has been “fueled by its low repair frequency,” according to CarMD. Toyota is second to Hyundai in lowest repair frequency, but Toyotas also have the highest average cost of repair. (Interestingly, General Motors vehicles have the lowest average.) Both Toyota’s and Hyundai’s manufacturer “health” ratings suffered this year, but Toyota took a bigger hit, which also is what helped Hyundai achieve the top ranking. While Hyundai is the top manufacturer in the index, the 2012 Toyota Camry is the top vehicle. The best-ranking Hyundai was the 2010 Elantra (behind three Nissan models and four Toyotas), which took the number eight spot. Hyundai has six other vehicles in the top 100. The top-ten manufacturers with the best overall vehicle “health” rankings are Hyundai (No.
Filed under: Budget , Government/Legal , Hirings/Firings/Layoffs , Hyundai , Lexus , Toyota , Luxury The government shutdown is eroding consumer confidence in the auto market, says John Krafcik, CEO of Hyundai’s US sales unit, and could lower October sales by as much as 10 percent, Automotive News reports . “It’s that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile,” Krafcik says, adding that industry sales could be off by five to 10 percent in October compared to September. The fourth quarter, which started October 1, usually consists of increased auto sales as dealerships clear their lots to make room for the next year’s models. Leading up to the fourth quarter this year, the auto industry was doing well in the fragile, recovering US economy, although September deliveries decreased by 4.2 percent, due in part to this year’s Labor Day sales being recorded for August. To help its customers, Hyundai announced it is deferring new-car loan and lease payments for furloughed federal workers until they’re called back to work and also offering them a three-month payment deferral if they buy a new Hyundai in October. “We have already had requests from over a thousand people to have their payments deferred,” Krafcik says. Toyota and Nissan joined Hyundai as the latest automakers to provide financial relief to customers affected by the federal employee furloughs. Krafcik says US Gov. shutdown is slowing Oct. auto sales originally appeared on Autoblog on Tue, 15 Oct 2013 19:01:00 EST.
Filed under: Etc. , Acura , BMW , Buick , Chevrolet , Ford , Honda , Hyundai , Subaru , Toyota The U.S. News Best Cars for the Money Awards picks winners by looking at the average transaction price, five-year total cost of ownership, the regard a car has from the automotive press, reliability figures from J.D. Power and Associates and safety data from the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety . The result, according to the magazine, is “the best combination of critical acclaim and long-term value.” Ford nabbed six of the 21 categories that received awards this year, the Focus , Fusion , Fusion Hybrid , Taurus , Escape and Edge getting trophies. Toyota and its Lexus and Scion sub-brands took another five, the Tacoma and Tundra owning the two categories given to pickup trucks. The other ten awards were split between Honda with three, Buick with two, and one each for Subaru , BMW , Hyundai , Chevrolet and Mazda . Follow the link to see all the winners and read about why they were chosen. Ford, Toyota clean up in Best Car For The Money Awards originally appeared on Autoblog on Fri, 22 Feb 2013 15:44:00 EST. Please see our terms for use of feeds .
Filed under: BMW , Hyundai , Toyota , Volkswagen A new survey of top global automotive executives indicates both Volkswagen and BMW are the most likely to grow their market share over the next five years. Tax advisory firm KPMG LLP has released its 14th annual Global Automotive Executive Survey, which includes responses from over 200 executives. A total of 81 percent of respondents said they expect to see Volkswagen make gains, compared to 70 percent last year. BMW, meanwhile, saw 70 percent of those surveyed say they believe the company will increase its market share. That’s a jump of 7 percentage points over last year. This is the first time in the history of the survey that BMW has claimed the second-place spot. Meanwhile, Hyundai has seen its perceived market share potential slacken for the third year in a row. Around 61 percent of those surveyed predicted gains for Hyundai, down from 63 in 2012. Toyota also has a surprising year, but for just the opposite reason. While the manufacturer had slipped in ranking since 2011, it enjoyed the largest increase of any company in the 2013 survey, jumping to 68 percent from 44 percent last year.
Filed under: Car Buying , Acura , Chevrolet , Honda , Hyundai , Lexus , Lincoln , Mercedes-Benz , Nissan , Scion , Subaru , Toyota Drive a new car off the lot and, boom, it’s used and not worth nearly what you own on it. But to help buyers counter this to the best of their abilities, ALG has released its 14th annual list of best bets for retained value. Toyota stands out from the crowd with nine total awards on the list, including its Scion and Lexus brands. But Honda took the top spot among mainstream brands with Hyundai second and Scion third. Subaru is fourth and Mazda fifth. In the premium brand rankings, Acura is ranked Number One, while Infiniti and Audi bring up second and third. In fourth place is Lexus and in fifth, Mercedes-Benz . Chevrolet is listed as number fifteen – last place on the mainstream list, while Lincoln is at the bottom of premium brands in tenth position. “Hyundai’s ascent as a brand is nothing short of impressive,” said Larry Dominique, president of ALG in a press release. “Since 2007, when the brand ranked in the bottom quartile for residual value, Hyundai has delivered well-executed product, and has kept incentives and fleet – two elements that can quickly damage residual value – in check.
Filed under: Car Buying , Audi , Ford , Honda , Hyundai , Toyota , Design/Style The 2013 Ford Fusion is probably the latest, greatest example of a completely redesigned car that has evoked widespread calls of “Look at that!” Above its buzzworthy looks, though, Ford will be concerned about how the 2013 Fusion sells and by how much – if at all – it beats sales of the previous version. Cars.com has run the sales numbers on 61 models that have been redesigned in the past four years, ranking them as Winners, Underperformers and Losers depending on how a new-generation model is selling compared to the one it replaces. The rankings are sorted by sales class – small, medium and large sellers – so that the success of a niche sports car is weighted differently than the success of a popular midsize car. Compared to a four-year sales average for redesigned cars in each class, Winners were those who outsold the average, Underperformers didn’t make the average but did outperform the previous year’s (hence, the previous car’s) sales, while Losers couldn’t do any better anywhere. Among the most recently introduced winners were the Toyota Camry and the Honda CR-V . The Camry beat the Four-Year Category Average Redesign Increase for large sellers by 2.2 percent, the CR-V managed 0.2 percent. Underperformers included the Audi A6 / S6 which, even though it has outsold the previous generation by 58 percent, still isn’t getting near the small seller category average of 79.2 percent. The new Hyundai Accent is also considered an underperformer, the new model boosting sales by 5.5 percent – nowhere near the 61.5 percent of the medium seller category average. The only Loser listed in the chart is the Honda Civic , taking one last thrashing before the “honed” 2013 redesign gets a chance to right the ship. As for that Fusion, the 2013 model has strong numbers to follow: the 2010 Fusion was a huge winner, putting up a 55.1-percent increase in the large seller category, beating the average by 33 percent.
Filed under: Car Buying , Etc. , Ford , Honda , Hyundai , Lexus , Toyota ALG reports both Ford and Hyundai have seen substantial jumps in their respective perceived quality, with the Blue Oval enjoying a 37 percent jump since 2008. Hyundai, meanwhile, has seen its figures increase by 25 percent over the same five years. For industry watchers, the news should offer no real shock. Both manufacturers have been on a new-product warpath, offering models laden with fresh design, efficient drivetrain options and plenty of technology while steadily increasing quality. The increase has been enough to push Ford to fourth on the list of brands with the highest perceived quality with a score of 70.5. That score puts Ford just behind Subaru with a score of 71.1. Ford and Hyundai may have had strong showings, but Honda has snagged top honors among mainstream brands with an 81.3 perceived quality score, followed by Toyota with 80.1. Lexus walked away with the highest rank among luxury brands, followed by Mercedes-Benz and BMW . Cadillac , Lincoln and Jaguar , meanwhile, all fell below the luxury average of 71.2 points.
Filed under: Car Buying , Ford , GM , Hyundai , Kia , Toyota , Earnings/Financials The annual “Car Wars” report by Merrill Lynch analyst John Murphy predicts that, despite their seizing of U.S. market share over the last few tumultuous years, Korean brands Hyundai and Kia will give it all back and then some to companies like Ford , General Motors and Toyota by 2016. Murphy bases his predictions not on tea leaves or crystal balls, but rather the rate at which automakers launch new products. Ford will replace 26 percent of its product line over the next four years, a number that represents 46 percent of its volume, while General Motors will replace 25 percent and Toyota 24 percent. On account of these new product launches, Murphy says Ford can expect to add 0.8 percentage points of market share, General Motors will recover 0.5 points and Toyota will add another 0.3 points. Other automakers that won’t be so aggressive in turning over their lineups with new models include Chrysler , Honda , Nissan and the European brands, which Murphy surmises will all remain flat in terms of market share. Hyundai and Kia, meanwhile, will be introducing fewer new models than the rest and therefore, Murphy predicts, will see a 0.5 decline in U.S. market share. Of course, these are all just predictions and can be blown to bits with the next unforeseen economic crisis or natural disaster, just like the last three years were. And there are other factors that might affect market share for each automaker during the next three years, including the availability of raw materials, exchange rates, union contracts, recalls and a million another minor things that might grow to become big things, not the least of which is consumers deciding they actually like all those new products being launched.
Filed under: Car Buying , Budget , Sedan , Hatchback , Chevrolet , Honda , Hyundai , Nissan , Toyota Consumer Reports has just wrapped up an evaluation of subcompact sedans, and the Kia Rio EX has rolled out ahead of the class. The four-door beat out its corporate clone, the Hyundai Accent and the Chevrolet Sonic to take the top spot. Evaluators pointed to the sharp handling and well-optioned interior in the Rio as reasons for the vehicle’s win. The newly redesigned Nissan Versa and unloved Toyota Yaris filled out the top five sedans. And what of the baby hatchbacks? CR once again credited the Honda Fit as leader of the pack, followed closely by the Versa Hatchback and Rio Hatchback. The organization found fault with the base Chevrolet Sonic’s fuel economy, and found the turbocharged LTZ model to be too expensive. Evaluators also felt the Sonic Turbo “didn’t live up to its sporty aspirations.” We’ll politely agree to disagree on that one. All of the vehicles in the evaluation are either too new or scored too low in CR evaluations to earn a coveted Recommended rating. Hit the jump for a look at the full press release and debate amongst yourselves in Comments.