Lack of new midsize pickup models driving strong resale values for older models

Lack of new midsize pickup models driving strong resale values for older models

June 28, 2013 by · Leave a Comment 

Filed under: Car Buying , Truck , Chevrolet , Nissan , Toyota According to a new study by Black Book , the fact that there are fewer mid-sized pickup truck options on the market is driving up the retail cost of used models. During the month of June, used vehicles from model years 2007-2011 depreciated an average of 1.3 percent across the board, but midsize pickups of the same year saw their value decrease by just 0.7 percent on average. Look across the past year, and the market as a whole saw those cars depreciate by 13.7 percent while midsize pickups saw their value decline by a mere 5.1 percent. Ricky Beggs, senior vice president and Managing Editor with Black Book, says midsize pickups are holding their value better than other products on the market due to the fact that there are so few brand-new options available. Currently, only Chevrolet , Nissan and Toyota offer midsize pickup trucks. Honda has a player in the game in the form of the Ridgeline , which is a sort of cross between a traditional pickup and a crossover, and the discontinued Ford Ranger falls into a smaller size class that no longer exists in the US. What’s all this mean to you? If you happen to have a set of keys to midsize pickup in your pocket, you’ve made a good investment. Don’t expect to see the machine depreciate as quickly as other vehicles on the road. Conversely, if you’re in the market, expect to pay a bit more than you might have expected for a non-fullsize pickup truck.

Subprime financing on the rise in new car sales, leasing too

Subprime financing on the rise in new car sales, leasing too

December 8, 2012 by · Leave a Comment 

Filed under: Car Buying , Chevrolet , Ford , Mitsubishi , Toyota , Volvo , Earnings/Financials We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of “nonprime, subprime, and deep subprime,” loans has grown 13.6 percent compared to the third quarter a year ago. According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963. At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota , with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1. Part of the growth in lending is the willingness to offer longer-term loans.

Toyota RAV4 hybrid in development?

Toyota RAV4 hybrid in development?

December 3, 2012 by · Leave a Comment 

Filed under: Hybrid , Technology , Crossover , Toyota Toyota may be hard at work on a new hybrid version of the RAV4 . AutoExpress reports the automaker is keeping a close eye on the CUV segment to determine whether or not buyers would be receptive to the idea of a hybrid RAV4. Yoshikazu Saeki, deputy chief engineer with the automaker, said that a hybrid iteration wouldn’t be difficult to do. Saeki spoke with AutoExpress during the LA Auto Show , and said that while Toyota has no interest in building either a seven-seat version of the RAV4 or a sportier model along the lines of the Nissan Juke , a hybrid isn’t off the table. “We are watching the market,” Saeki said. “After introducing the new RAV4 we will see. There will be a possibility of introducing a hybrid RAV4 and we will respond to what the market wants.” Than again, we’ve heard these rumblings before . Back in 2009, Toyota said almost the exact same thing after the Shanghai Motor Show three years ago. Toyota RAV4 hybrid in development? originally appeared on Autoblog on Mon, 03 Dec 2012 11:27:00 EST.

Scion FR-S Tuner Challenge Winner

November 4, 2012 by · Leave a Comment 

LAS VEGAS (Nov. 1, 2012) – With a unique color and a supercharger under the hood, custom-car builder Chris Basselgia of Lebanon, Pa., won Scion’s FR-S Tuner Challenge, announced yesterday at the Specialty Equipment Market Association (SEMA) show in Las Vegas.

Scion FR-S Named Hottest Sport Compact at the 2012 SEMA Show

October 31, 2012 by · Leave a Comment 

LAS VEGAS, (Oct. 30, 2012) – The Scion FR-S earned industry recognition today with the Hottest Sport Compact award on the first day of the 2012 Specialty Equipment Market Association (SEMA) Show in Las Vegas.

Scion Reveals FR-S Tuner Challenge Cars in Advance of 2012 SEMA Show

October 28, 2012 by · Leave a Comment 

TORRANCE, Calif., (Oct. 26, 2012) – Scion revealed its three FR-S Tuner Challenge cars last night in advance of the Specialty Equipment Market Association (SEMA) show that kicks off in Las Vegas on Oct. 30.

New Toyota Avalons Built for SEMA Take Divergent Paths Toward Similar Goals

October 26, 2012 by · Leave a Comment 

TORRANCE, Calif., Oct. 25, 2012 — Toyota’s recently introduced 2013 Avalon is set to enter the market this fall with a radically new design that moves the styling needle distinctly toward passion and excitement. To demonstrate the possibilities of the new premium mid-size sedan, the company created two new concepts that are scheduled to bow on Oct. 30 at the SEMA Show in Las Vegas.

2011 Toyota Prius Offers All New PLUS Performance Package

June 30, 2011 by · Leave a Comment 

TORRANCE, Calif., June 30, 2011 – – The Toyota Prius, the best-selling hybrid in America, offers an exciting new accessory package for 2011.

College Graduates Offered Additional $1,000 on Select New Toyota and Scion Vehicles

May 6, 2011 by · Leave a Comment 

April 4, 2011 – Torrance, Calif. – May is college graduation time. And for many new grads that means entry into the “real world” – a world in which credit and extra cash can be in tight supply. To assist college grads in the market for a new vehicle, Toyota Financial Services (TFS), in partnership with Toyota Motor Sales, is offering qualified college graduates a $1,000 rebate toward the purchase or lease of select new Toyota vehicles, including the Corolla, Matrix, RAV4, Camry (excludes Camry hybrid), Tacoma and Yaris and all new Scion models when financed or leased through a participating Toyota dealer and TFS.

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