Archive for Preowned Car Sales Everett

Back to the Future DeLorean being restored

We’ve seen plenty of Back to the Future DeLorean DMC-12 replicas pass through the halls of the internet. In that time, we’ve always assumed the original movie car was tucked away safely in a museum somewhere. As it turns out, that wasn’t the case. Of all the vehicles created for the three films, the most detailed hero car, otherwise known as the A Car, was left on display outside. The ensuing years of suffering in the elements weren’t kind to the DMC-12, and Bob Gale, co-writer for the BTTF saga, is now working to have the vehicle completely restored to its original condition.

Joe Walser, J Ryan and Terry Matalas are currently working to get the car back to its former glory, but the project needs help. The craftsmen may not need roads where they’re going, but they do need anyone with photos of the original A Car or parts from any of the movie DeLorean models to reach out via TimeMachineRestoration@gmail.com or the restoration’s Facebook page. Very cool.

Bayside Auto Sales

Back to the Future DeLorean being restored

 

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Select Hyundai’s still to go for set resale value

Back in April, Hyundai launched the Assurance Trade-in Value Guarantee ensuring every new Hyundai’s resale value two to four years down the road. Unfortunately for most folks still shopping for a Hyundai, that program has now ended. Keyword being “most” since Hyundai will no longer ensure the value of their mainline cars, but well-heeled buyers of the Genesis and Equus models can still sleep well knowing their high-end Hyundai will depreciate at a rate comparable to their neighbor’s Toyota Avalon.

“It was a marketing program and we wanted to bring a spotlight on the strength of our residual values, and it did its job,” John Krafcik, CEO of Hyundai Motor America tells Automotive News.

Residual value consulting agency ALG says the data seems to back that up. Residual value of the Equus is third best in the premium-lux market behind the Lexus LS460 and the Jaguar XJ and the Genesis sedan is second only to the Nissan Maxima among full-sized cars.

Bayside Auto Sales

Select Hyundai's still to go for set resale value

 

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Bayside Auto Sales used car dealer serving Everett, Seattle, Everett, Edmonds, WA

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Toyota Sales Improving

Toyota can attribute much of its uptick in sales last month to fleets. While the automaker saw its sales leap by 7.5 percent compared to a year earlier, Newsday.com reports Toyota sold 47 percent more cars and trucks to fleet customers in the U.S. than in January 2011. Without the fleet sales, the improvement would have been less than one percent. All told, rental companies accounted for 93 percent of the automaker’s fleet sales in January, with the remainder going to other organizations.

Toyota and other Japanese automakers have always been reticent to embrace fleet sales. Doing so is not only generally less profitable than individual consumer sales, but can also lead to degraded brand image and resale value. Last month, Ford was cited for having 45 percent of the company’s Focus going toward fleets.

Toyota, meanwhile, says the news isn’t the start of a trend. When Toyota factories were hobbled by earthquake and tsunami activity in Japan last year, the automaker put a stop to fleet sales altogether to keep its dealerships fed. According to Bob Carter, Toyota U.S. sales chief, the company promised to make up deliveries to its fleet customers, and January represents the automaker fulfilling that promise. Carter also said that while fleet sales will be high once again in February, things should return to normal once again in March.

Bayside Auto Sales

Toyota Sales Improving

 

 

GM sales improving

General Motors today reported its earnings for last year and the fourth fiscal quarter of 2011. The automaker’s profits for 2011 totaled $7.6 billion, up from $4.7 billion in 2010.

While the news was excellent for the full year, fourth quarter net income was only $472 million, or about the same as Q4 2010. While that makes eight straight quarters of positive numbers since the company emerged from bankruptcy in 2009, the earnings were weighed down by losses of $562 million in Europe from GM’s Opel subsidiary.

There were also a number of one-time events that affected earnings in the fourth quarter, without which GM’s profit would’ve nearly doubled to $900 million.

Still, the company counts 2011 as a successful year, and the stats tend to agree. TrueCar.com reports that GM increased its sales by over 13 percent, increased market share by half a point, grew average transaction prices by over $1,100 and lowered incentive spending by five percent. Based on that performance, all 47,500 hourly employees will receive profit sharing checks of up to $7,000.

Bayside Auto Sales

GM sales improving

 

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Bayside Auto Sales used car dealer serving Everett, Seattle, Everett, Edmonds, WA

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Studebaker trying to come back

The annals of automotive history are filled with nameplates that weren’t quite able to survive the boom and bust nature of the business, especially here in the United States. One of the most successful orphaned automakers was Studebaker, remembered fondly for such design gems as the bullet-nosed post-World War II Starlight and trend-setting fiberglass-bodied Avanti.

Sadly, Studebaker officially ceased producing automobiles in 1966, though a small portion of its legacy lives today in the form of the ex-Kaiser AM General. But if a Colorado-based business has its way, the Studebaker name will once again appear on vehicles sold in America. Somehow, we’re far from convinced any of its conceptual designs will ever see the light of day.

Looking over the proposed revival, we see a range of so-called Studebaker cars, trucks, motorcycles and scooters. Half the motorcycles are actually Hyosung models from Korea with Studebaker scripting on the fuel tanks, and the other half are nothing but poor renderings. As for the cars, well… there isn’t a single shred of Studebaker DNA in any of them. In any case, the company is reportedly looking for “qualified investor/partners”. We wish them the best of luck… they’re gonna need it.

Bayside Auto Sales

Studebaker trying to come back

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Chrysler turning a profit

Chrysler employees received some good news this week. The automaker announced it would issue profit-sharing checks worth $1,500 to each of its hourly workers for the first time since 2005. The company posted a $183 million profit for 2011, marking the first time the company has avoided a loss in six years, according to The Detroit Free Press. The earnings were due largely to a host of more compelling vehicles, including the Jeep Grand Cherokee, Dodge Durango, Chrysler 200 and 300. Each of those vehicles command a higher price tag than their less-refined predecessors.

On average, buyers have been willing to hand over $3,200 more for their Chrysler vehicles than they did just one year prior. Company CEO Sergio Marchionne said the profit-sharing checks were a reward that the company’s workers had earned.

Interestingly enough, parent company Fiat isn’t enjoying the same success back home. According to the report, without the earnings from the Italian automaker’s stake in Chrysler, Fiat would have reported a $265 million loss in 2011. In a strange turn of fate, Chrysler has begun supporting Fiat. With Italy and the rest of Europe in the throws of a debt crisis, the automaker doesn’t look to have a better 2012, either.

Bayside Auto Sales

Chrysler turning a profit

 

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Bayside Auto Sales used car dealer serving Everett, Seattle, Everett, Edmonds, WA

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Lotus seeing potential buyout

Reports this week out of London indicate that Lotus CEO Dany Bahar seeks a partner, or even a purchaser, for the Hethel firm. Malaysian automaker Proton currently owns Lotus, but Proton was taken over in January when Malaysian auto parts supplier DRB-Hicom bought the government’s controlling interest. The trend with new ownership is to put every project on the table for review, and with Lotus in the midst of massive initiatives – Esprit, Elan, Eterne, new Elise and in-house V8 – it makes sense that Bahar isn’t wasting time arranging options.

Although it’s not exactly as if Bahar just started looking for a buyer. In summer 2011, Proton’s position was shaky enough that Bahar publicly sought outside investment, with Toyota often mentioned as a hypothetical mate.

It is said that Bahar wants £500 million ($792 million U.S.), roughly two-thirds the amount Proton (via bank loans) was said in 2010 to be committing to the brand’s revival. As one would expect, Chinese interests are suspected as potential buyers, but only one possible suitor has been named so far, that being Genii Capital, which owns the Lotus Formula 1 team.

Bayside Auto Sales

Lotus seeing potential buyout

 

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Bayside Auto Sales used car dealer serving Everett, Seattle, Everett, Edmonds, WA

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Saab NA dying out too

Saab North America acknowledged that the chances were exceptionally slim, but it hoped to avoid bankruptcy long enough to give another company a chance to buy it. Shortly after Saab NA appointed a third-party administrator, McTevia & Associates, it was decided there was no way to save the company short of liquidation, and on January 23, the administrator announced plans to file for Chapter 7 bankruptcy.

But Saab NA was beat to the filing by a group of 162 out of the 188 Saab dealers, who filed for involuntary Chapter 11 bankruptcy in Delaware. The dealers said last week they were going to file for Chapter 7, but instead chose Chapter 11 because of its lower costs and in case China’s Youngman or Turkey’s Brightwell Holding’s bid for Saab NA’s parent succeeds and they want to restart operations here. The document was filed in Delaware because the dealer body feels they’ll get better hearing “further away from Detroit.” Dealers also wanted the force of court orders to back up any decisions made, not that of a third-party administrator.

Underneath all the legal machinations, though, if estimates from Saab NA dealer attorney Leonard Bellavia are accurate, then the parties could emerge without getting financially kneecapped. When McTevia announced its plan to file, Bellavia suggested that Saab NA’s liabilities were $10.5 million and assets at between $75 million and $125 million. With no more parts on the way and 2,400 cars on lots, McTevia had earlier said that the parts distribution business is “the only meaningful asset.”

Bayside Auto Sales

Saab NA dying out too

 

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Bayside Auto Sales used car dealer serving Everett, Seattle, Everett, Edmonds, WA

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Rolls Royce had a good year

Some would say that 2011 wasn’t exactly a banner year, but the good chaps at Rolls-Royce would likely respond with a definitive “Poppycock!” That’s because the 107-year-old brand experienced its best-ever sales totals in 2011, with 3,538 very expensive autos sold around the globe. That’s a 31 percent increase over the 2,711 models sold in 2010, thanks mostly to brisk sales of the Ghost and Phantom models.

With sales up 31 percent, it’s clear that the storied automaker was on fire the world over, but certain markets really catapulted the marque. In fact, sales in Asia were up 47 percent, and the U.S. saw 17 percent growth. Austerity measures in England didn’t stop the craze for new Rolls-Royce models, either, with sales up 30 percent.

It may not be all that exciting to see that the rich can afford more Rolls Royce models, but we’re guessing the 1,000 employees working in Goodwood are probably tickled at the brand’s rising popularity.

Bayside Auto Sales

Rolls Royce had a good year

 

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Bayside Auto Sales used car dealer serving Everett, Seattle, Everett, Edmonds, WA

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Saab officially ending

It’s a Saab story, we know, but this is – in all likelihood – the end of the road for Sweden’s “other” automaker. Sure, there are still talks of one foreign entity or another picking up where GM and Swedish Automobile (Swan)/Spyker left off, but even if they do, they’ll have a heck of a lot of work on their hands. And that includes rebuilding its presence in North America.

With the parent company having already filed for bankruptcy in Sweden, the next step is for Saab Cars North America to follow suit, and that’s precisely what’s happening.

The operation based in Royal Oak, Michigan, ceased operating last month when its parent company did, but resumed distributing parts just this past Thursday. That does not mean, however, that the American business will remain afloat. With no money to keep it going, Saab Cars North America is being liquidated. Sources estimate the company’s liquidated assets at around $100 million (give or take $25m), offset by a relatively minor $10.5 million in liabilities.

As for the dealers, they’ll have to choose to declare bankruptcy individually or let the administrator dealing with SCNA’s liquidation tend to theirs as well.

Bayside Auto Sales

Saab officially ending

 

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Bayside Auto Sales used car dealer serving Everett, Seattle, Everett, Edmonds, WA

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