Vehicles on Road Grow Older

"Experian Automotive announced that there were 17.3 million more light-duty vehicles seven years and older on the road in the United States than there were three years ago.

According to its Q1 2012 Vehicles in Operation (VIO) market analysis, Experian Automotive also found that there were more than 245 million vehicles on U.S. roads, and that the age of vehicles increased when compared to the first quarter of 2011, up 1.9 percent to an average age of 11 years.

Additional data from the report showed Ford as the most prevalent make on the road in first quarter, followed by Chevrolet, Toyota and Honda for both Canada and the United States. " [Read more]

GM Recalls Cruzes

"General Motors Co. is recalling more than 400,000 Chevrolet Cruzes for two problems that can cause engine fires.

GM is recalling 413,148 model year 2011 and 2012 Chevrolet Cruze vehicles manufactured between Oct. 2, 2009 and May 31, 2012. Spilled or dripping oil (such as after an oil change) may collect in the engine shield (bellypan) near hot engine or exhaust system surfaces. As a result, the oil and the engine shield may ignite and burn.

Either condition could result in an engine compartment fire, possibly causing injury or death.
GM will notify owners, and dealers will modify the engine shield to prevent fluid from contacting the shield. Also, on vehicles with a manual transmission, dealers will apply a protective tape to the electronic power steering wire harness. Repairs will be performed free of charge to the owner. The safety recall is expected to begin on, or about, July 11." [Read more]

Kelley Redesigns App

"Kelley Blue Book debuted its newly redesigned app-like mobile website for kbb.com.

In addition to Kelley Blue Book Values, smartphone users now have access to several new features on kbb.com's free mobile website to help make the best purchase decision possible while on-the-go. The redesigned site provides mobile users with an intuitive path to seamlessly help them through the research process. Car shoppers' recently viewed cars also are automatically saved on the optimized mobile site and surfaced on a new homepage when they return to the site, giving them easy access to their research throughout the buying process.

Kelley Blue Book focused on an advanced design for its new mobile-optimized site to give users the look and feel of an app, in addition to the ability to view more new- and used-car information in an easy-to-use format. In the new kbb.com mobile experience, users no longer are confined to vertical scrolling. The ability to swipe left to right provides shoppers with a superior user experience, and opportunity for more functionality with kbb.com's content, such as the 360-degree vehicle views" [Read more]

Mercedes Recalls Wagons

"Mercedes-Benz is recalling about 3,600 model year 2007-09 E350 4Matic wagon vehicles manufactured from July 1, 2006 through April 30, 2009.

A connecting rod for the load leveling rear suspension system may fail. If this occurs, the driver may have reduced vehicle control, increasing the risk of a crash.

Mercedes-Benz will notify owners, and dealers will inspect, and if necessary, replace the level control connecting rod, free of charge. The safety recall is expected to begin during August." [Read more]

Honda Recalls Civics

"Honda is recalling about 50,000 model year 2012 Civics.

During assembly, the process required to seat the driver's side driveshaft and set the retaining clip was not completed. As a result, the driveshaft may separate.

If this occurs, the vehicle will have a loss of drive power and may roll away if the parking brake has not been set when the gear selector has been placed in the "park" position, increasing the risk of crash or pedestrian injury.

The safety recall is expected to begin on, or about, June 21.

Honda's recall campaign number is S40." [Read more]

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NADA Guide predicts year-old Leaf will retain 95% of value

 

"The NADA Official Used Car Guide has added average trade-in values for 1-year-old Chevrolet Volt and Nissan Leaf sedans to its used-vehicle value listings. Both cars plug in.

In its June edition, the NADA Guide will project the average trade-in value for a typically equipped 2011 Leaf SV electric car at $23,975 -- 95 percent of its sticker price of $25,280, after the $7,500 federal tax credit available to buyers who purchase the vehicle new.

The projected trade-in value of the 2011 Volt, which runs on electricity and gasoline, was said to be $29,325, or 90 percent of its $32,780 sticker price for June, after the $7,500 federal tax credit.

For comparison, a typically equipped 2011 Honda Civic Hybrid has a projected trade-in value of 76 percent of its sticker price, and a 2011 Toyota Prius has a projected trade-in value of 88 percent of its sticker price.

Maynard Brown, an NADA Guide analyst, says the company treats the tax credit similar to a rebate because buyers of used Volts and Leafs are aware of the discount and are not willing to pay more for those vehicles than the new-car buyer paid." [Read more]

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Certified Pre-Owned Sales Increase

"May certified pre-owned sales were 156,997, up 8.7 percent from a year ago, and up 9.7 percent from April, according to AutoData Corp.

There were only 26 selling days in April compared to 24 in May 2011 and 24 in April. The daily selling rate was about equal with May 2012, but up 1.3 percent from a year ago." [Read more]

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