Exciting Designs Fuel New Car Interest
SEE ALSO: New Car Buyers Guide
ATLANTA, April 7 -- During the month of March, the Chevrolet Camaro once again became the most-viewed new vehicle on AutoTrader.com. Meanwhile, Hyundai's new Sonata midsize sedan was the most-viewed new vehicle in its class for the first time ever, surpassing competitors that include Honda Accord, Toyota Camry and Nissan Altima.
Other big gains in new vehicles came from a pair of compact crossovers. The new Chevrolet Equinox was up 186% in views year-over-year, making it the most-viewed new vehicle in its class and the 8th most-viewed new vehicle overall. The new Kia Sorento, a direct competitor of the Equinox, saw views increase 268% year-over-year, making it the 2nd most-viewed compact crossover, and 20th overall among all vehicles.
"As the Camaro, Equinox, Sorento and Sonata all prove, hot new designs still are capable of drawing shopper attention on-line and in showrooms," said AutoTrader.com President and CEO Chip Perry. "With most major automakers planning lots of new product to roll out during the course of 2010, consumers will have a lot to be excited about at their local dealership this year."
Average asking prices for new vehicles continued to creep up, a sign of better management of production in relation to demand than what was seen in 2009. These increases, though, were offset by manufacturer incentives which helped drive shoppers to dealers, resulting in the best month for new vehicle sales so far in 2010.
Economic Recovery Continues to Fuel Demand for Full-size Trucks
Used full-size trucks continued to see increased activity on AutoTrader.com last month. These increases were led by the used Dodge Ram 2500 and the used Ford F-250, which both saw views rise about 20% from March of 2009. The used Chevrolet Silverado 2500 also gained big, up 18% compared to March of last year.
"This improvement we have seen in views for work trucks is a good harbinger of improvements to the economy at large," said Perry. "These vehicles' popularity is a direct reflection of rebounding activity in the business and industrial segments, which in turn points towards increased spending among general consumers. We expect this trend to soon be reflected in increased activity not just for work trucks, but also popular family vehicles such as midsize sedans and crossovers."
While searches for Certified Pre-Owned vehicles were down slightly year-over-year, much of this is still the result of depleted inventories in the sector. The reduced inventory of CPO vehicles continued to push average asking prices higher, especially among trucks, SUVs and crossovers both foreign and domestic. For example, the average asking price for a Certified GMC Sierra 1500 pick-up rose 15% to $24,541, while the average asking price for a Honda Pilot crossover rose 14% to $24,668.
"Manufacturers and dealers spent a lot of time and money explaining to consumers the benefits of CPO vehicles," said Perry. "And just as consumers were responding, leasing, a key supply avenue for CPO vehicles, dried up with the credit crunch. With leasing beginning to see new signs of life, the supply of CPO vehicles should improve over time and many consumers will again give this segment a look."
Record Traffic
In March, AutoTrader.com logged 16.5 million unique monthly visitors, the highest traffic the company had ever experienced, beating the previous record from March 2009 by almost a half-million unique visitors. Heavy marketing of autos and auto incentives coupled with the recovering economy helped raise consumer interest in making a new or used vehicle purchase, driving them on-line to research and compare models in their efforts to find the perfect car at the right price. AutoTrader.com's own extensive marketing efforts, including strong presence on networks including MTV, VH1 and Lifetime and displays at the United States' largest auto shows over the past few months helped lead those shoppers to AutoTrader.com in record numbers.
Future Trends
"With the U.S. auto show season coming to a close with the New York International Auto Show this month and manufacturers getting ready to put into showrooms a variety of new vehicles, it will be interesting to see what cars become popular on our site and in sales over the next eight to 10 months," said Perry.
A major trend this auto show season has been small, stylish and fuel-efficient cars like the new Ford Fiesta, the new Mazda 2, the new Chevy Cruze and the new Fiat-Chrysler 500. These cars are aimed squarely at the segment of consumers who say they want cars that are fuel efficient, great to look at and fun to drive, three things that have not normally gone together on U.S. roads.
"As a result of gas prices starting to creep up a bit and people more than ever aware of the environment, we will be keeping an eye on how these new small cars fare in the market when they do become available in dealer showrooms," said Perry.
About AutoTrader.com
AutoTrader.com, created in 1997 and headquartered in Atlanta, Ga., is the Internet's leading auto classifieds marketplace and consumer information website. AutoTrader.com aggregates in a single location millions of new cars, used cars and certified pre-owned cars from thousands of auto dealers and private owners. The site attracts about 15 million unique monthly visitors. Through innovative merchandising functionality such as multiple photos, videos, detailed descriptions and comprehensive research and compare tools, AutoTrader.com unites new and used car buyers and sellers online to improving the way people research, locate and advertise vehicles. AutoTrader.com is a majority-owned subsidiary of Cox Enterprises. The venture capital firm Kleiner Perkins Caufield & Byers is also an investor. For more information, please visit www.autotrader.com.
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http://www.theautochannel.com/news/2...07/472251.html
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SEE ALSO: New Car Buyers Guide
ATLANTA, April 7 -- During the month of March, the Chevrolet Camaro once again became the most-viewed new vehicle on AutoTrader.com. Meanwhile, Hyundai's new Sonata midsize sedan was the most-viewed new vehicle in its class for the first time ever, surpassing competitors that include Honda Accord, Toyota Camry and Nissan Altima.
Other big gains in new vehicles came from a pair of compact crossovers. The new Chevrolet Equinox was up 186% in views year-over-year, making it the most-viewed new vehicle in its class and the 8th most-viewed new vehicle overall. The new Kia Sorento, a direct competitor of the Equinox, saw views increase 268% year-over-year, making it the 2nd most-viewed compact crossover, and 20th overall among all vehicles.
"As the Camaro, Equinox, Sorento and Sonata all prove, hot new designs still are capable of drawing shopper attention on-line and in showrooms," said AutoTrader.com President and CEO Chip Perry. "With most major automakers planning lots of new product to roll out during the course of 2010, consumers will have a lot to be excited about at their local dealership this year."
Average asking prices for new vehicles continued to creep up, a sign of better management of production in relation to demand than what was seen in 2009. These increases, though, were offset by manufacturer incentives which helped drive shoppers to dealers, resulting in the best month for new vehicle sales so far in 2010.
Economic Recovery Continues to Fuel Demand for Full-size Trucks
Used full-size trucks continued to see increased activity on AutoTrader.com last month. These increases were led by the used Dodge Ram 2500 and the used Ford F-250, which both saw views rise about 20% from March of 2009. The used Chevrolet Silverado 2500 also gained big, up 18% compared to March of last year.
"This improvement we have seen in views for work trucks is a good harbinger of improvements to the economy at large," said Perry. "These vehicles' popularity is a direct reflection of rebounding activity in the business and industrial segments, which in turn points towards increased spending among general consumers. We expect this trend to soon be reflected in increased activity not just for work trucks, but also popular family vehicles such as midsize sedans and crossovers."
While searches for Certified Pre-Owned vehicles were down slightly year-over-year, much of this is still the result of depleted inventories in the sector. The reduced inventory of CPO vehicles continued to push average asking prices higher, especially among trucks, SUVs and crossovers both foreign and domestic. For example, the average asking price for a Certified GMC Sierra 1500 pick-up rose 15% to $24,541, while the average asking price for a Honda Pilot crossover rose 14% to $24,668.
"Manufacturers and dealers spent a lot of time and money explaining to consumers the benefits of CPO vehicles," said Perry. "And just as consumers were responding, leasing, a key supply avenue for CPO vehicles, dried up with the credit crunch. With leasing beginning to see new signs of life, the supply of CPO vehicles should improve over time and many consumers will again give this segment a look."
Record Traffic
In March, AutoTrader.com logged 16.5 million unique monthly visitors, the highest traffic the company had ever experienced, beating the previous record from March 2009 by almost a half-million unique visitors. Heavy marketing of autos and auto incentives coupled with the recovering economy helped raise consumer interest in making a new or used vehicle purchase, driving them on-line to research and compare models in their efforts to find the perfect car at the right price. AutoTrader.com's own extensive marketing efforts, including strong presence on networks including MTV, VH1 and Lifetime and displays at the United States' largest auto shows over the past few months helped lead those shoppers to AutoTrader.com in record numbers.
Future Trends
"With the U.S. auto show season coming to a close with the New York International Auto Show this month and manufacturers getting ready to put into showrooms a variety of new vehicles, it will be interesting to see what cars become popular on our site and in sales over the next eight to 10 months," said Perry.
A major trend this auto show season has been small, stylish and fuel-efficient cars like the new Ford Fiesta, the new Mazda 2, the new Chevy Cruze and the new Fiat-Chrysler 500. These cars are aimed squarely at the segment of consumers who say they want cars that are fuel efficient, great to look at and fun to drive, three things that have not normally gone together on U.S. roads.
"As a result of gas prices starting to creep up a bit and people more than ever aware of the environment, we will be keeping an eye on how these new small cars fare in the market when they do become available in dealer showrooms," said Perry.
About AutoTrader.com
AutoTrader.com, created in 1997 and headquartered in Atlanta, Ga., is the Internet's leading auto classifieds marketplace and consumer information website. AutoTrader.com aggregates in a single location millions of new cars, used cars and certified pre-owned cars from thousands of auto dealers and private owners. The site attracts about 15 million unique monthly visitors. Through innovative merchandising functionality such as multiple photos, videos, detailed descriptions and comprehensive research and compare tools, AutoTrader.com unites new and used car buyers and sellers online to improving the way people research, locate and advertise vehicles. AutoTrader.com is a majority-owned subsidiary of Cox Enterprises. The venture capital firm Kleiner Perkins Caufield & Byers is also an investor. For more information, please visit www.autotrader.com.
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http://www.theautochannel.com/news/2...07/472251.html
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Honda Agrees to Settle Class-Action Suit on Premature Brake Wear
Honda will settle a class-action suit, filed last September, pertaining to premature brake wear on its current-generation Honda Accord and Acura TSX models.
The suit claims that the rear brake pads on its 2008-09 Accord and 2009 Acura TSX, along with a small number of 2010 models, have an unjustifiably short lifespan of just 15,000 to 20,000 miles. Honda reportedly refused to cover the issue under its new car warranty and, in all, 750,000 total vehicles may be affected. Around 350 owner complaints were filed on the NHTSA Web site.
To remedy the problem, Honda will install redesigned rear brake pads and make adjustments to the braking system. Whether the issue is with the brake pads or brake-force distribution, we can only speculate for now. The suit alleges the premature wear is due to the new brake system that includes rear discs and an electronic brake-distribution system, which became standard equipment on the 2008 Accord and 2009 TSX. As is the case with many settlements, the currently proposed outline says that Honda denies there is a defect and that both parties are acting in good faith.
The settlement terms are currently under review in California and preliminary approval is scheduled for May with the final verdict to come later this year.
The current proposal terms include:
- Owners who had rear brake work done prior to settlement approval will receive reimbursement of up to half the cost of the job, up to $125. To be eligible, owners must have replaced the worn pads with pads of the same type and multiple claims may be filed.
- Owners will receive a one-time payment of up to $150 to have new, redesigned brake pads installed.
- Honda to pay $2 million in legal fees and expenses for the plaintiff party.
Source: Wall Street Journal
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Loaded Compact Sedans: Alternatives to Moderately Equipped Midsizers
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2010 Honda Civic EX-L with NAVI :
Years after the Honda Civic became Motor Trend's 2006 Car of the Year, it remains at the top of the sales charts. That's because the Civic sedan still offers class-competitive dynamics. "When cornering," said Associate Editor Allyson Harwood in a comparison test with a 2008 Civic, "a little steering input went a long way -- that took some getting used to."
Civic sedans continue to offer excellent fuel economy at 25/36 mpg city/highway with a five-speed automatic transmission and a 140-horsepower four-cylinder engine. It's definitely not the swiftest ride in our price range -- the aforementioned 2008 model takes 9.4 seconds to reach 60 mph -- but consider that a $24,515 Civic has a satellite-linked navigation system and heated leather seats. A four-cylinder Accord with a navigation system and heated leather seats runs a minimum of $29,540.
Selected features in a $24,515 Civic sedan: Satellite-linked navigation system with voice recognition, Bluetooth, satellite radio, leather seats, heated front seats
Strengths: Honda's reputation for reliability; was Motor Trend's Car of the Year for a reason
Weaknesses: One of the least-powerful engines in its class; interior is sufficient but on the small side: the EPA classifies the Civic sedan as a subcompact
Bottom Line: The priciest of this bunch, but arguably worth it.
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