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John Sternal's Blog – July 2013 Archive (11)

A NEW WAY TO GET AN EXTENDED WARRANTY FOR YOUR CAR WITH FOREVERCAR.COM

Extended warranties for automobiles have been a source of financial pain and frustration for years. Poised to reshape the way people protect their vehicle investments, ForeverCar.com has officially launched as a new company that promises a simple, transparent process offering affordable, top-tier coverage that's as close to bumper-to-bumper as consumers will find in the market.

Backed by a Fortune-500 company, ForeverCar.com was developed by a…

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Added by John Sternal on July 24, 2013 at 2:08pm — No Comments

Survey Shows Change in Women's Perspective on Car Lease Market

A new survey from national car lease marketplace Swapalease.com reveals new insight into the difference in how men and women view a car lease. Swapalease.com, the nation’s largest car lease marketplace, conducted an online poll of 700 drivers during May. While the results show women have been reluctant to lease in the past, that trend may change in the coming years.

According to the results, 42.2% of women said they had never leased a car,…

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Added by John Sternal on July 23, 2013 at 2:41pm — No Comments

A Week Of Used Cars Change

Here is the latest Used Car Market Report data from Ricky Beggs and Black Book. What a week it has been around the wholesale markets. In a traditional time of the year with a more passive buyer and generally increasing depreciation of values levels, the activity across the country within the auction lanes indicates a better than expected market. Although there were also comments of some no sales in some lanes, the primary comments from the Black Book…

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Added by John Sternal on July 22, 2013 at 9:12am — No Comments

Next 12-24 Months, Leasing Should Continue to See Rise

Edmunds.com issued a report showing that current lease penetration (25%) is on pace to eclipse last year’s totals (22%). Swapalease.com also conducted a car shopping survey that recently asked drivers across the nation if they plan to lease their next vehicle. Roughly 66% of the 700 nationwide respondents said they’re “extremely likely” or “likely” to lease their next vehicle. Interestingly enough, of those who participated in the survey, 60.7% are not leasing their current…

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Added by John Sternal on July 17, 2013 at 1:48pm — No Comments

Crossovers Less Competitive Than SUVs

Black Book Lender Solutions analyzed historical vehicle segment data and has developed projected retention levels for the next 12 to 24 months. Below is the breakdown of projected retention across all 24 segments, with analysis of the segments expected to outperform and underperform.

Pickups Remain Strong 

Compact, Mid-Size and Full-Size Pickups have all enjoyed strong retention during…

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Added by John Sternal on July 16, 2013 at 5:00pm — No Comments

Luxury Level Cars Show Largest Decline

Here is the latest used car market report from Ricky Beggs and Black Book. If the overall auction activity is an indication there were plenty of empty holes to fill back at the lot. Even with several survey personnel and editor reports indicating the “best crowd in several months”, bidding just to be the last bidder at any price was not the case. Quite a few reports indicated buyers were “slightly selective”.…

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Added by John Sternal on July 15, 2013 at 1:00pm — No Comments

Car Leases Show Healthy Approval Rates

National car lease marketplace Swapalease.com reports its latest lease customer credit approval information, with positive trends continuing into the halfway mark of 2013. According to data from Swapalease.com, the year-to-date credit approvals rate recorded at the end of June was 73.9%, down just slightly from 75.3% approvals in May. 

 

Swapalease.com considers a healthy rate when credit approvals reach 70% of all applications. Credit is extremely important in car leasing, and…

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Added by John Sternal on July 10, 2013 at 2:01pm — No Comments

Mid-size Pickups & Entry Level Cars Active In Adjustments with Better Retention

We hope you had a fantastic holiday and are ready for a full week of auction activity, wholesale transactions and retail sales. From the joys of celebrating America’s birthday, please take a moment to remember the hero firefighters in Arizona and their families.

Overall Used Car Market

It was a short week within the market but there is still plenty happening that may have an impact on your business. The auctions that…

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Added by John Sternal on July 9, 2013 at 6:43am — No Comments

Gas Prices Decline But Trucks Still Show Decline

Here is the latest used car market report from Black Book and Ricky Beggs. As we track and report the used market values there is one piece of information that doesn’t come from an electronic data feed or from individual sales data gathered by the Black Book survey personnel. This is the direct insight we glean as we have numerous one-on-one conversations with auctioneers, individual buyers and sellers and various remarketers, while we as editors attend the physical auctions. We almost look…

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Added by John Sternal on July 3, 2013 at 8:22am — No Comments

July Specialty Market Report

Here is the July specialty market report from Black Book. As we start the second half of 2013 the activity within the specialty markets is continuing to gain strength in the activity taking place and especially within the medium and heavy duty trucks and commercial trailers. Even though supplies are still somewhat limited within the motorcycle and powersports and the recreational vehicle, mostly due to low…

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Added by John Sternal on July 2, 2013 at 2:48pm — No Comments

Tom Cross Honored As Newest Ring of Honor Member

 

Black Book is proud to announce that Tom Cross, President, was honored as the newest member of the prestigious Ring of Honor for the National Independent Automobile Dealers Association (NIADA). The award was presented at the National Leadership Awards Banquet during the annual NIADA Convention and Expo in Las Vegas on June 26.

 

Cross has led Black Book as President since 2007, and he becomes the 23rd industry…

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Added by John Sternal on July 1, 2013 at 12:45pm — No Comments

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