Scott Forrest has made a career of saving people big bucks on their car purchases. Here's his advice on how to approach your next car purchase.
I met Scott Forrest at a friend's party here in Los Angeles, and we got to talking cars. Turns out, Forrest loves cars -- almost as much as he loves getting a great deal. He's combined those two passions into a company, UnderBlueBook, that specializes in helping people get the best possible deal on any car, new or used.
Since Forrest has made it his mission to understand the car sales industry from the inside out -- who's allowed to buy what inventory, what the banks actually do with lease returns, how to get the lowest price for anything from tires to transmissions -- we asked him to lay down some professional knowledge on how best to navigate the car-buying process and walk away with a better deal than you thought possible.
A Bit of Friday Fun
Crime + video = stupid
A while back, I did a piece for MSN Autos on the world's dumbest car thieves. Unbelievably, filming yourself (or having your mates film you) in the act of committing a crime is not as uncommon as one would think.
Then again, dumb and easily-identifiable criminals are probably a good thing compared to the masterminds, no? Enjoy the video after the jump.
And You Think 50 Miles Per Gallon is Special
French team shatters Shell Eco Marathon fuel efficiency record
A team of French students competing in the Shell Eco Marathon has shattered a standing five-year record for fuel efficiency -- and the numbers are pretty staggering.During day one of the competition, the French squad dubbed "Team PolyJule" and their hydrogen-powered prototype destroyed the previous record of the equivalent of 3,836 kilometers on a single liter of fuel set by ETH Zurich of Switzerland in 2005. They did it by posting a whopping 4,414 kilometers on that same volume; even more amazing is that the next day, they once again shattered their own one-day-old record, adding another 482 kilometers to the range to top out at the equivalent of 4,896 km per liter -- in other words, the equivalent of 11,516 miles to the gallon.
Maybach Coupe Set for Limited Production
By Greg Kable
German-based engineering specialist Xenatec has announced plans for an exclusive new Maybach coupe to rival the Bentley Brooklands and the Rolls-Royce Phantom Drophead Coupe.
The new two-door, which will ride on the same underpinnings and draw power from the same engine as the Maybach 57S, is planned to be built in a limited run of 100 cars at the company’s workshop in Weinsberg, Germany, all with the blessing of Maybach parent company, Daimler. Daimler has carefully followed the car’s development and will supply built-up 57S chassis from its nearby Sindelfingen-based manufacturing headquarters.
The Safe House
House subcommittee passes Motor Vehicle Safety Act of 2010
The bill -- which was passed on a voice vote, meaning the next step is an as-yet-unscheduled ballot vote by full committee -- mandates brake-override systems, increases resources for federal regulators such as the National Highway Traffic Safety Administration and facilitates more public transparency for safety-defect information. The bill, thanks to a proposed $9 per-vehicle fee (which, if we remember correctly, would start off at $3 per vehicle before tripling over the next few years), looks to double NHTSA's coffers to $280 million by 2013. Groups lobbying on behalf of auto manufacturers have argued the fees will increase costs to unacceptable levels.
Also raising ire for the auto manufacturers is the bill's "black box" provision, which would require that the safety recorders be be installed in every vehicle and that they record event data from 60 seconds before to 15 seconds after a crash. Auto lobbyists argue that the mandate would add thousands of dollars to the cost of every new vehicle.
Looking Quite Good for 50
Corvette celebrates 50 years at LeMans with a one-off commemorative Z06.
The upcoming 24 Hours of Le Mans looms large in the minds of sport car racing fans -- and for fans America's iconic performance brand, the Chevy Corvette, this year's contest has added significance: The endurance race on June 12 and 13 will mark 50 years of Corvette at Le Mans.To celebrate the accomplishments of legendary Corvette racers such as John Fitch, Dick Thompson and Bob Bondurant, Chevrolet will host a celebratory gathering centered on tomorrow's American Le Mans Series Monterey race at the legendary Mazda Raceway Laguna Seca -- a tune-up for the Le Mans race across pond next month.
2011 Ford Flex Goes Titanium
By Greg Migliore
Taking a page from its SEMA playbook, Ford is rolling out a top-of-the-line, semi-blinged-out people hauler for 2011, the Flex Titanium.
It's dressed up for a night on the town, or a trip to soccer practice, and was devised by Ford product gurus who noticed most Flex customers tend to take high levels of content in their vehicles.
A Slow Death
Low-speed vehicles pose severe dangers to their drivers if allowed on public roads.
Electric vehicles aren't quite the new phenomenon many people think they are -- and we're not talking about GM's electric vehicle in the late 1980s. As anyone who lives in or near one those posh gated communities can probably tell you, tiny neighborhood electric, low-speed vehicles ferry people back and forth within said communities and around town. According to the Insurance Institute for Highway Safety, the "back and forth within the community" isn't a problem, but "around town" certainly is. Allowing such vehicles access to the same roads as regular traffic, which dozens of states do, puts the drivers at high risk for grievous injury and death.
Is this the next stroke of brilliance from Infiniti? We’ll have to wait until the Pebble Beach Concours d’Elegance event in August to find out.
As has been its custom the past couple of years, Nissan’s luxury-division carmaker has been revealing its wares at events surrounding the California concours. And today we’ve obtained teaser “brush strokes” of two cars to be shown there this summer.
Well, This Is Terrifying
Hackers can take control of your computer -- the one in your car.
I've read this several times and am still just completely dumbfounded.
According to Gizmag, a team of researchers composed of two groups -- one from the University of California San Diego, the other from the University of Washington -- took on the challenge of seeing if a vehicle's computer system could be remotely compromised by hackers. The answer, in a nutshell, is "and how."
According to the report:
"The team managed to bring a wide range of systems under external control, from the engine to brakes to locks to the instrument panel to (the first to fall) the radio and its display. The attackers posted messages, initiated annoying sounds and even left the driver powerless to control radio volume.
New FedEx Truck Is Electrifying to Drive
By Mark Vaughn
We drove the latest FedEx delivery truck and found the experience truly electrifying.
Yes, the Navistar-built, Modec-designed big honking van they let us pilot around a big parking lot south of the Los Angeles Sports Arena is powered by 80 kilowatt-hours of lithium-ion batteries spinning a 76-kilowatt (102-hp, 221 lb-ft) electric motor. With a range of 100 miles in city driving, an operator could complete a standard eight-hour day on a single charge.
Land Rover LRX Goes Diesel-Hybrid
The 'go-anywhere' utility vehicle manufacturer takes a road not often traveled with its soon-to-be-released sport ute.
When Tata first announced that Jaguar and Land Rover would be rolling out new hybrid models, we expected the luxury carmaker and purveyor of go-anywhere SUVs to simply plop an electric motor and some batteries into an existing model and call it a day. Land Rover, at least, looks to completely embarrass those expectations when the all-new LRX goes on sale next year. The vehicle is set to break ground for Land Rover, a brand that has been content to manufacture and sell luxury SUVs with big, thirsty engines for generations. What's That, Out in the Woods?
Not Bigfoot, but rather the first shots of the new Jeep Grand Cherokee.
And here it is, finally: a shot of the 2011 Jeep Grand Cherokee. And it's an action shot, no less.The 2011 iteration of the Grand Cherokee is an important launch for Chrysler, a company that's been hamstrung by poor sales and an even worse reputation since being bailed out by the federal government and its subsequent takeover by Fiat and that company's CEO, Sergio Marchionne. Chrysler has a number of new models slated to hit dealer floors -- many of them based on Fiat underpinnings -- though most of them are still a ways away. The new Grand Cherokee is, without a doubt, an important litmus test as to the company's near future -- and perhaps beyond. Chrysler really needs to get this one right.
Another Prime-Time Role for Mustang?
What muscle car flexes more often on the big and small screen than Ford's main pony?
When people talk about the rekindling of the muscle car wars, they usually discuss horsepower, handling, torque -- all those good things. But to my mind, there's another, less cut-and-dried way to measure who's currently reigning supreme: the car's place in pop culture.
I bring this up because it's being reported that the Ford Mustang will play a major role in the network remake of the island-cop drama "Hawaii Five-O," and it seems to me that the 'Stang has got to be the most ubiquitous of the big three muscles, right? I mean, the Chevy Camaro obviously scored a major pop-culture coup with its none-too-subtle tie-in to the "Transformers" franchise (a coup in terms of exposure, not the quality of the movies in question), but where else does it pop up in the film, television or music universe? Likewise the Dodge Challenger -- sure, a classic version was featured in the original "Gone in Sixty Seconds," and I'm pretty sure Vic Mackie drove a purple one in the latter seasons of FX's cop drama "The Shield" (or was that a Charger?).
Coming Soon to an EV Near You: Sound
Automakers back 'minimum noise' requirements for electric vehicles.
Automakers, with a push from advocates for the blind, have agreed to a proposal that would create artificial sounds for what are now near-silent electric vehicles. The increased audio would alert blind -- and, for that matter, sighted -- pedestrians as to the vehicle's whereabouts.According to the proposal, federal auto-safety regulators would design a minimum sound rule for EVs over the next 18 months. The automatic sound would have to activate automatically, and the standards would be phased in by regulators and automakers over three years.
Living i-MiEV: We Spend a Week Aboard Mitsubishi's Itty-Bitty EV
By Dino Dalle Carbonare
The electric-vehicle revolution is upon us--or at least, that's what manufacturers such as Mitsubishi would like us to believe.
We've had plenty of exposure to EVs, including several short drives in Mitsubishi's first mass-production zero-emissions car, the i-MiEV. But none of those drives gave us a chance to live with an EV in the real world, to see how it really performs when subjected to the stresses of everyday use.
For our test, we borrowed an i-MiEV in Tokyo, using it day and night for a week as we would any other car in an urban setting. Initial skepticism faded within minutes after we silently rolled out of Mitsubishi's headquarters and onto the streets of Tokyo. There is something quite satisfying about zooming through traffic in a little city car like the i-MiEV. The responsive and eerily quiet 63-hp electric motor puts a smile on your face every time you tap into that instant 133 lb-ft of torque, making it feel far faster than its gasoline-powered equivalent. With 88 lithium-ion batteries tucked away under the floor, the little i-MiEV also offers a confidence-inspiring low center of gravity.
One Step Closer to a Recall
NHTSA investigates Ford Windstar axles.
After 234 complaints and two crashes -- neither fatal nor involving any injuries -- due to alleged rear axle breaks on 1999 through 2003 model year Ford Windstar minivans, the National Highway Traffic Safety Administration has begun a preliminary investigation. This is the first of three steps toward issuing a mandatory recall. Given that both of the crashes and many of the complaints occurred in the so-called Salt Belt states, an early theory is that the Windstar's rear axle structure, an inverted U-shaped piece of metal, collects road salt and deteriorates over time.
Camry-Killers, Incentives and Scion, Oh My
A straight-talking Akio Toyoda on the state of the world's largest (still) automaker.
Whether Toyota CEO Akio Toyoda learned his lesson about speaking from his heart after the unintended-acceleration fiasco and subsequent fallout (you'll remember that Toyoda was conspicuously silent during the early stages of the drama) or whether it's a calculated public-relations move, one thing is for sure: The guy has been speaking in plain, sometimes brutally honest language often since then.Case in point: this interview with Automotive News, from the Nurburgring in Germany, where Toyoda was on hand to cheer on the Lexus LFA supercar. Not only did he reiterate that the company's quality problems are not a recent phenomenon -- he traced early issues to the global expansion that brought sales up to 6 million vehicles per year all the way back in 2003 -- but he even acknowledged that stalwart models such as the Camry are getting dated and that the company is feeling competitive pressure from the likes of Ford (he specifically mentioned the Taurus), GM and Hyundai.
Ford Test Drives the 2011 Mustang GT500 at Virginia International Raceway
Ford engineers recently tested the 2011 Mustang GT500 at Virginia International Raceway.
What's it like to drive the 2011 Ford Mustang GT500? Watch this video and get a taste of it.
Ford's Special Vehicle Team engineers recently put this new Pony Car though its paces at Virginia International Raceway. In this video, you get to sit in the cockpit as one tester flogs the car. Cool right?
The driver hits better than 140 mph, and there's plenty of engine, road and brake noise to arouse your senses.
It's three minutes and 15 seconds of your life worth spending on something very ‘Stang.
And Then This Happened
The weird, the wonderful Blastolene Hemi-powered Trike -- with video.
An "Exhaust Notes" follower just sent us this picture of -- well, it's hard to describe. At first, this machine looks like a cross between a drag racer and a chopper after a visit to Dr. Frankenstein's laboratory. Then, we saw this cool (albeit very strange) video of the thing in action, and we just had to post something on it. I mean, just listen to that thing roar. That's what happens when you have two double pumpers just dumping fuel into an engine that puts out an insane 1,000 horsepower.
Did we mention the whole thing, called the Frogman Rocket II, was created by the same team that executed Jay Leno's Tank Car? You can sort of see the resemblance.
Just a quick note on the video: It's, uh, sort of weird. A lot of lingering shots of owner Tim Cotterill burning up pavement and shattering eardrums in Southern California (or an area that looks just like it). There's a whole subplot -- if one could say the short has anything resembling a "plot" -- with a hitchhiker, who then disappears ... ahh, forget it. Just watch and listen to a truly unique machine doing what it does best: going fast and turning heads. Enjoy after the jump.
OnStar to Tap Google to Guide the Chevrolet Volt
By Leslie J. Allen, Automotive News
General Motors Co.'s OnStar telematics unit is bringing Google mobile navigation technology into the car.
Chevrolet Volt drivers whose smartphones use Google's Android operating system will be able to use their phones to pinpoint their vehicle's location on Google Maps, GM said in a statement released Tuesday. They can then request a destination by speaking it into the phone, and have the desired destination sent directly to the car.
OnStar would then guide the driver to the destination using turn-by-turn spoken directions.
OnStar will demonstrate the technology at an Android software developer's conference that starts Wednesday in San Francisco.
2011 Ford Fiesta Gets up to 40 mpg
Clever beats complex in the fuel-economy fight.
The Environmental Protection Agency has officially announced the fuel-economy figures for the 2011 Ford Fiesta, and the numbers are well above what the driving world has come to expect from small, nonhybrid cars.
According to the government agency, the new compact should return 29 mpg city/40 mpg highway when equipped with the new 6-speed dual-clutch transmission. Drivers who go for the 6-speed manual version of the car will likely see slightly lower mileage averages. For comparison’s sake, the Fiesta’s highway numbers are a full 5 mpg better than the Honda Fit and best the Toyota Yaris by 4 mpg.
GM Collaborates With Hawaiian Power Company
By Jake Lingeman
General Motors has formed a partnership with Hawaiian power firm the Gas Company to test the state’s hydrogen infrastructure.
TGC is the major power provider for the Hawaiian islands. It produces and delivers hydrogen along with natural gas. TGC plans to separate the hydrogen from its pipeline and send it to filling stations for fuel-cell vehicles.
Hawaii is uniquely qualified for this project, announced last week, because it depends on imported fuel for 90 percent of its energy, and the state is committed to reducing its petroleum use by 70 percent in the coming years.
'Exhaust Notes' Apologizes
The 'Holy Grail' of transmissions may not be that.
Now, apparently, there have been more than a few responses to the magazine article regarding the viability of the product shown in the Gizmag video of Steve Durbin, presenting his D-Drive. (And, I should include, our own commenter CKTVT, who pointed out the limitations of the system quite early on -- good on you, CKTVT.)
First and foremost: The machine presented is not, in and of itself, an infinitely variable transmission. Rather, it has the chance to be a component of such a system, which would mean the main friction actors -- the absence of which we touted highly during the initial hoopla -- would remain, but simply as a factor of the system.
Ford Apps Put Cars in the Mood
Experimental Fiestas can social-network, play -- even tweet their feelings.
My own college road trips were known for their -- well, never mind.Let's concentrate instead on a team of University of Michigan students currently road-tripping in a Ford Fiesta to Makers Faire, the Silicon Valley do-it-yourself festival, to demonstrate the wacky, wonderful future of cloud-based computer applications in your car. Those include cars that can broadcast real-time traffic and weather data, keep tabs on lost or straggling vehicles in your convoy, play rally-style games or social-network with occupants of other cars. And while some vehicles can already communicate with dealerships to send diagnostic reports or receive messages, this small Ford can send out tweets on its “mood,” based on performance data being collected by its computers.
Ford, whose Sync system already reigns as one of the slicker telematics platforms, held a competition for six teams of Michigan students, who were asked to dream up potential apps on a new experimental connectivity platform. The winning team -- Joe Phillips, Sangmi Park, Collin Hockey and John Ciccone -- are cruising in one Ford Fiesta, with Ford engineers in a second car, tweeting from the road as @AJtheFiesta. Along the way, they’ll be stopping at Northwestern University, near Chicago, and other points to demo the system.
BMW to Push Build-to-Order for X3
BMW is pitching its orders the European way.
BMW wants you to buy a car the European way: The German automaker, which wants to pass Lexus as the leading luxury brand in the U.S. by 2012, is trying to convince its U.S. customers that they should order their BMWs with exactly the stuff they want on it, not settling for whatever is on the lot.
For example with its new X3, on sale here early next year, BMW wants its U.S. dealers on board to help promote options on built-to-order models.
A Bit of Friday Fun
And you thought 250 mph was fast.
How is this car-related, you ask? We found the awesome video on Jalopnik, which is a car site. And we loved it, because it's really freaking cool. So that's that. (Also, the pilot's code name is "Taco" and we find that funny.)
The shuttle approaches the Earth backwards at Mach 2 to start, then turns nose-down (this happens around the 3:00 minute mark) and glides to a landing. Enjoy, after the jump.
Attention Chrysler Owners
40,000 of various 2010 models to be recalled.
If you own a 2010 model of the Chrysler 300, Dodge Challenger, Dodge Charger, Dodge Ram, Jeep Commander or Jeep Grand Cherokee, check to make sure your car is in "park" before you get out.Apparently, those models have been experiencing problems with a defective ignition switch, which releases the key even if the vehicle's transmission isn't in park. Needless to say, this can cause vehicle movement when it certainly isn't desired (i.e., when you're not actually in the car, piloting it).
Hidden Treasures: Meilenwerk Berlin a Low-Key Look at the Past
By Ronan McGrath
Standing on Wiebestrasse in suburban Berlin, you'll see an unassuming warehouse. But inside is a unique complex for owners and buyers of classic cars. Branding itself as a forum for car culture, the Meilenwerk has under one roof private storage facilities, restoration workshops, servicing facilities and dealers.
It is open without charge for visitors daily. There are no ropes or barriers, just a few discreet "Do Not Touch" signs. The number and variety of cars is simply staggering.
Cars are stacked in glass cases or just parked in lines inside the huge building. Upon entering I saw a genuine 427 Cobra parked behind an MGB. A magnificent early 3-liter Bentley was parked in a row that also contained some humble Volkswagens, an ultra rare and gorgeous Graber-bodied Alvis TD 21 and a Checker Aerobus.
Infinite possibilities
But only one gearbox, the D-Drive, can deliver them.
Well, perhaps not all of it -- you'll need some of that knowledge to understand just how revolutionary the new D-Drive transmission could be. The "D" stands for "Durnin," as in Steve Durnin, the Australian plumber and plumbing inspector who, over the course of thousands of hours of tinkering, created a system that Gizmag is calling "ingenious" and, possibly, "the holy grail of gearboxes."
What's so revolutionary about the D-Drive is that it's an infinitely variable transmission -- not continuously variable, but infinitely variable. Thanks to a set of planetary gears and independent rotating shafts, the transmission facilitates an ideal level of mechanical advantage between the motor and its output, from top gear all the way down through neutral and even, amazingly, reverse. Not only that, but it requires no friction tools, such as a clutch or torque converter, which sap efficiency -- especially under heavy torque demands.
Transformers: Rise of the Domestics
Toyota falls; domestics (and, yes, Honda) jump to fill top spots for brand loyalty.
We're still a ways away from knowing just how much the whole unintended-acceleration fiasco -- and the varied and numerous recalls that came in its wake -- cost Toyota in terms of cash.What we do know is that the whole situation most certainly contributed to the world's largest automaker falling off as top brand for customer loyalty. According to Consumer Reports' National Research Center, Toyota has ceded that spot to another Japanese carmaker -- Honda -- and Ford, the sole domestic automaker that chose not to take federal bailout money. (Consumer Reports' research was conducted via 1,074 phone interviews of adults whose household accounted for at least one vehicle; the interviews were conducted among a representative probability sample of households.)
Attention Subaru Owners
Legacy, Outback models recalled.
Owners of a new Subaru Legacy or Outback might need to factor in some time for a trip to the dealership soon: About 29,000 vehicles are being recalled because of possible cracking in the cooler hose of the continuously variable transmission system. The crack could lead to a fluid leak, and while the company has thus far failed to explain the consequences of such a leak, a piece in Consumer Reports has said that a high-pressure hose leak might lead to a fire.2011 Jeep Grand Cherokee to Start at Less Than $33,000 for Four-Wheeler
By Greg Migliore
Perhaps the most important vehicle to be launched by Chrysler this year, the 2011 Jeep Grand Cherokee, will start at a price that's a shade less than $33,000 for a four-wheel-drive model. The base model with two-wheel drive is $30,995.
This Jeep, shown in concept form for more than a year, is critical to refreshing the Detroit automaker's aging lineup and generating some much-needed product mojo.
The Grand Cherokee arrives in June and will be joined by updated versions of the Dodge Charger and the Chrysler 300 later this year. These vehicles, along with the well-received Ram and the soon-to-be-refreshed Dodge Avenger and Chrysler Sebring (or whatever it will be called), will form the basis of Chrysler's revitalization efforts.
Large and In Charge
Two big luxury sedans are named IIHS Top Safety Picks
The Insurance Institute for Highway Safety has taken time from petitioning the government to mandate anti-lock brakes on motorcycles in order to hand out its Top Safety Pick awards to two large luxury sedans: the 2010 Hyundai Genesis and the 2010 Mercedes E-Class.The IIHS takes into account front, side, rollover and rear crash protection ratings; vehicles must receive top marks in all four. In addition, the vehicles must have electronic stability control, which is a standard feature on both the Genesis and the E-Class.
European Union Cuts CO2 Emissions
Is there a lesson America can learn from it?
The European Union has taken a hard line against carbon dioxide emissions over the past few years, and according to one new study, the work is beginning to pay off. A Jato Dynamics report says that over the past six years, total CO2 emissions have dropped by as much as 12 percent in Europe. That’s a significant downturn in greenhouse gases, especially when you consider that, according to the Environmental Protection Agency, from 2005 to 2008 the United States saw CO2 emissions from fossil fuel consumption in transportation grow by 6 percent. (U.S. data are not readily available for 2003-2009.)Volvo's Collision Avoidance Not Quite Up to Snuff
Guess which half the Swedish carmaker got right?
That must have been what the PR folks at Volvo were thinking after trying to demonstrate to the media the company's collision-avoidance system, which uses forward-looking sensors to automatically slow a car before impact if the system reads that the brakes are not being applied correctly. They launched an SC60 out of a safety tunnel at 30 mph, piloted by only a safety dummy, aimed directly at the back of a parked truck.
Any guesses as to how the test turned out? Take a look for yourself, after the jump.
'Officially Road Legal' -- But Just Barely: BMW Releases More Details on the M3 GTS
By Greg Migliore
We love how BMW describes the M3 GTS: perfect for the track yet “officially road legal.” How’s that for a wink and a nod? That’s OK. We can all grin.
Because the M3 GTS, the most powerful version of the M3 coupe, can hit 62 mph in 4.4 seconds and peaks at a top speed of 189.5 mph, according to figures released on Wednesday from Munich.
The M3 GTS is the race-bred version of the iconic two-door that makes about 450 hp and 324 lb-ft of torque from a high-revving V8 boosted from 3,999 cc to 4,361 cc. The cylinders are banked at 90 degrees, and BMW is billing this engine as V8 technology at its best. It’s hard to disagree.
Welcome to the Danger Zones
Top 10 most dangerous cities for drivers -- or are they?
- Baltimore, Maryland
- Johnstown, Pa.
- Portland, Maine
- Des Moines, Iowa
- Erie, Pa.
- Bangor, Maine
- Birmingham, Ala.
- Austin, Texas
- Manchester, N.H.
- Lincoln, Neb.
Foiled Again!
Mazda's affordable, amenity-packed commuter is Japan-only
Given that we normally fret about the small, sporty cars that won't be hitting U.S. shores -- the Audi A1 comes to mind -- we must say that it's odd to experience a pang of regret that a boxy Mazda commuter like the Carol likewise won't be seen stateside.But when you consider what the Carol represents -- a fuel-efficient, features-heavy (and, dare we say, cute) micro-mini commuter that goes extra easy on the wallet -- it's a shame the vehicle won't hit the roads here if for nothing else than to raise the subcompact bar.
Bavarian Treats for Sale
BMW trots out its wares for 2010 and beyond.
Talk about kids in a candy store: From bright blue M3s and a "hot chocolate" MINI to a silvery Rolls-Royce Ghost, BMW rolled out a jelly-bean assortment of cars to satisfy media cravings at New Jersey Motorsports Park.
Row upon row of showroom-buffed BMWs made it easy to remember the go-go days, when it seemed like even the pool boy could afford a Bimmer. But even as BMW keeps one eye open toward a modest sales comeback this year -- it's hoping to reel in a 10 percent gain in 2010 -- its executives still see troubling factors that suggest car sales aren’t about to race out of the woods.
Richard Brekus, BMW's general manager for sales, said that the depressed housing market continues to impede BMW and other luxury brands. Brekus noted that there’s a 23-month supply of homes with $1 million-plus price tags. And with 23 percent of homeowners underwater on their mortgages, owing more than the homes are worth, you can strike a lot of those people from any list of potential luxury-car shoppers.
But since automakers can’t just hang a “Gone Fishin'” sign on their design studios, factories and showrooms, brands like BMW must keep the new cars coming, jealously guard their market share and hope to lure as many flush buyers as possible.
No comments:
Post a Comment