| ESCONDIDO: Auto dealers spending millions on renovations Auto dealers have spent an estimated $10 million to $15 million during the last two years on a diverse selection of expansion and renovation projects that aim to boost sales and make Escondido the region's premier place to buy a car, dealers and city officials said last week. Whitson said local dealers typically get some financial incentives from the automakers, but that more capital is needed. "The dealer typically still has to go to a bank on their own and get a loan," he said. 3 million last year and has continued that upward trend during 2012, city officials said. But it is going to keep the auto park looking modern. The renovations may also have played a role in the recent rebound of new car sales in Escondido, which supply the city millions in sales tax revenue that pays for firefighters, libraries and several other expenses. The city's annual sales tax revenue from new vehicle sales dropped from more than $6 million to just over $3. Abed said the City Council's pro-business policies, which have included reducing some fees and accelerating the approval process for projects last year, have also played a role in the dealerships deciding to expand and renovate. "I think the major businesses in Escondido are feeling encouraged and more confident in the city," said Abed, noting that Westfield North County recently announced plans to spend $55 million renovating the 83-acre regional mall it operates in south Escondido. "It's an overall investment of anywhere from $10 million to $15 million," said Brecht. He said dealerships owned by large corporations are typically less concerned because they have no trouble finding the capital needed for renovations. "It's the family that's had the local Chevy store for 70 years that's going to have a harder time," he said. Brecht said that's essentially what happened with Gladys Young. "Bigger showrooms equals more products," Brecht said. "We're always happy to see reinvestment in the dealerships," said Redlitz. The trend of factory-mandated dealership upgrades has gained momentum rapidly in recent years, according to a study by the National Automobile Dealers Association published in February. Whitson said the trend has created turmoil. "It's a very, very hot topic in the dealer world right now," he said "There's a lot of animosity. Barbara Redlitz, the city's planning chief, said city officials have been pleased to see so many dealerships getting enlarged and updated. The North County Cadillac-Buick-GMC project has been a priority for the city, because the dealership sits at the eastern entryway to the auto park. Turmoil among dealers David Whitson, an auto industry analyst for Morningstar Inc. In addition, Quality Chevrolet got approval from Escondido's Planning Commission last week for an extensive remodel that will include adding a 560-square-foot delivery area to the showroom building. In spite of why the dealers have expanded and renovated, local dealer Tim Brecht said Escondido residents ought to be pleased to see so much money being invested in the 29-year-old auto park and some of the dealerships outside the park. North County Cadillac-Buick-GMC completed a major renovation project this spring; Brecht Mini changed its look from gentle white to sleek black last month; Mossy Nissan rebuilt the dealership's facade in 2011; and Mercedes-Benz of Escondido underwent extensive renovations in 2010. |
Sunday, 3 June 2012
ESCONDIDO: Auto dealers spending millions on renovations
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Missouri Used Car Warranty Law Now In Effect
| Missouri Used Car Warranty Law Now In Effect
Credit-challenged new and used car buyers in addition to those with perfect credit have, in the past, been contacted by fraudulent call centers representing themselves as warranty companies soon after they make a car purchase. According to Timothy J. A number of these call centers are located around and about the St. The law more clearly specifies consumers' right to a refund if they cancel a motor vehicle service contract. That's because, for budget-constrained buyers, it's especially important to avoid large, unforeseen vehicle expenses - a big reason many high-risk auto loans end in repossession. We also encourage buyers to buy one from their selling dealer for several reasons - not the least of which is that by doing so they will be covered by the consumer protection laws of their state. Used car service contracts Even with the quality of used cars being better than ever, we usually suggest that buyers, especially those with poor credit, consider purchasing an auto service contract which will cover the entire loan term. Moreover, it creates a brand new licensing framework for Missouri-based businesses and individuals selling motor vehicle service contracts. New Missouri law Describing the state of Missouri as "becoming a hotbed for deceptive direct mail and telemarketing campaigns", the Service Contract Industry Council (a group of prominent manufacturers, insurers, retailers, providers and administrators of service contracts representing 80 percent of the industry) worked closely with the Missouri Attorney General's office to draw up legislation that was signed into law last July. The Bottom Line Never purchase a vehicle service contract until you've first researched the company. Extended warranty scams As soon as you buy a car there's a good chance you'll be swamped with letters and phone calls from companies that want to sell you an "extended warranty. The new law is designed to prevent companies from using deceptive or unethical marketing practices to sell motor vehicle service contracts, also known as auto extended warranties. Remember, licensed car dealers must comply with your state's consumer protection laws while outside companies don't necessarily have to. But regardless of where you purchase one, be certain to shop around first to be certain its reasonably priced. |
Saturday, 2 June 2012
Auto sales keep surging even as economy sputters
| Auto sales keep surging even as economy sputters
How will weak economic reports impact strong auto sales? Jessica Caldwell, Edmunds. auto industry is shoring up its position as one of the bright spots in the sputtering American economy. While GM recently raised its forecast for all of 2012 to a possible peak of 14. 9 million. On the other hand, AAA is reporting that nationwide fuel prices have tumbled an average of about 27 cents a gallon since their early-April peak. Among the optimists is analyst Jesse Toprak, of data tracking firm TrueCar. Fellow Japanese maker Honda, which was also hard hit by the March 2011 Japanese disaster posted an only slightly less impressive 47. That's already showing up in sliding demand and lower prices for certain used vehicles, especially smaller, high-mileage offerings. One alternative explanation is that as one of the basic tools of the American working class, the surge in pickup sales could suggest Main Street is recovering faster than Wall Street right now. "We're not ready to change our forecast," said Browning, cautioning there are plenty of economic uncertainties that might easily lead to a softening of demand during the second half of 2012. Analyst Art Spinella, of CNW Marketing, said that showed up in his firm's "Jitters Index," a measure of how worried potential auto buyers are. But for the moment, the May numbers leave reason to hope that car sales will well exceed cautious earlier forecasts for 2012. But even with some makers reporting sales that nearly doubled last month, there are some potentially troubling issues behind the May figures. The May numbers generated a series of superlatives: General Motors, with an 11 percent increase year-over-year, posted its best sales since August 2009, during the government's Cash-for-Clunkers program. "Sales are continuing to rebound and consumers are feeling more comfortable buying highly contented vehicles," said Toprak, noting that four brands, Toyota, Honda, Hyundai and Kia, scored the highest average transaction prices - the figure consumers actually pay after discounts - in their history. Toyota, meanwhile, saw its sales surge by over 87 percent for the month, a significant turnaround for a maker that had suffered sharp declines throughout much of 2011. But Nissan didn't suffer quite as serious production-related sales losses in 2011 as the other two members of Japan's Big Three. job market to the decline of the stock market, never mind the potential crisis in the Euro Zone. Japan's second-largest maker, Nissan, meanwhile, saw its sales climb "only" 20. But Toyota officials insist there were other factors behind the May revival. |
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Volkswagen Doubleback rocks Europe years after being discontinued in United States
| Volkswagen Doubleback rocks Europe years after being discontinued in United States
Discontinued in the U. A front bench is available, though, which turns the cockpit into a three-seater. It new Doubleback conversion, pictured, promises even more fun for Brits along with their neighbors. Its 2-liter I4 diesel engine produces from 138 to 179 horsepower, dependant on whether the one you've got is a version with dual turbochargers or not. America's love affair with VW's microbus spans generations, but nostalgia only goes so far. Volkswagen's Eurovan, the closest microbus cousin, was discontinued here in 2003 in the face of abysmal sales. It's also great for meeting the requirements of weekend sports nuts, specifically those into climbing, motorcross, karting, surfing, cycling and more. It's constructed from "aircraft industry standards," says its website, and seats two. The converted Doubleback sells for around $87,975 US dollars and extends the Transporter 5x6 ½ feet via an electric slide-out rear which you and your mates then camp in. It can also pack a full set of longboards in its innards, with room left over to hang out. Volkswagen Doubleback rocks Europe years after being discontinued in United States |