All About Cars

Many used car dealerships are using subprime loans to help those with bad credit get used cars.  Dave Ross from Marstaller said they’ve seen a twenty percent increase, “Even last month with all the stock market stuff, we still had an increase in sales and the latter part of the month was better than the 1st part of the month,” said Ross.

Subprime loans allow people with very low credit scores to take out loans with high interest rates.

Those who were not using subprime loans, said they’re having trouble selling both new and used cars, except for those who don’t use banks.  For example, Bill Miller’s Auto has seen a 50 percent increase in sales.

“We don’t have to be quite as strict because we’re the ones making the decisions right here and we don’t have to get any approval from up stream,” said Miller.

Even with the economic recovery plan in place by the government, dealerships profiting at the time say they could see profits continue till the end of the year.

High Country Classics Car Club will host its fourth annual car show Saturday, July 19, in the parking lot of Watauga High School in Boone.

This show has become one of the area’s biggest and best events of its kind, with approximately 100 entries each year. Plaques are given to the top 50, trophies awarded to Best of Show, Longest Distance Driven, People’s Choice and Club Participation.

Goodie bags will be given to the first 75 entries, and everyone in attendance will have a chance at numerous door prizes, a fifty-fifty drawing and lots of fun, fellowship and good music with fellow car enthusiasts from all over the southeast.

Registration fee is $20 per vehicle; admission is $3 per person. Vendor spaces are available for $25 and sponsorship spots are still available and greatly appreciated.

Proceeds from the event will go toward helping local charities, in addition to the Watauga High School’s automotive technology class.

Registration begins at 8 a.m. and closes at 12 noon, with judging beginning soon thereafter. The show will end at 3 p.m.

Hot dogs, hamburgers, chips, drinks and all the fixin’s will be available on-site. The rain date for the event is scheduled for July 26.

The High Country Classics Car Club is dedicated to the collection, restoration, preservation and promotion of classic cars and trucks, as evidenced by the time and effort its members dedicate to their hobby.

Currently under the leadership of president Roger Dalton, the club is approximately 85-members strong and has been a supporter of such charitable organizations as Hospice, Santa’s Toy Box, Project Graduation and the Children’s Miracle Network, just to name a few.

As a civic-minded group, the club supports other car shows and related community events, sponsors Friday night Cruise-Ins twice monthly at the AF Bank parking lot in Boone (weather permitting) and travels as a group to both in and out-of-town locations for cruises or car shows sponsored by neighboring car clubs.

Many of the club members are experts on various techniques of restoration and preservation and are always willing to help others with questions or problems they may have with their own vehicles.

As a spokesperson for the club shared, “At classic car events, so many times you hear the phrase, ‘They just don’t make them like that any longer.’ The classic cars, just like antique furniture, are a part of our heritage and will always bring back fond memories of a more youthful and carefree time.”

Ownership of an old car is not required to join the club or attend the cruise-ins, just an appreciation for the classics. Regular meetings of the club are held on the first Monday of every month at 7:30 pm in the Fellowship Hall of Poplar Grove Baptist Church. Membership dues are only $25 per year, pro-rated for new members, and help cover the cost of the informative monthly newsletter.

Those interested are encouraged to mark their calendars for Saturday, July 19 and cruise on in to the parking lot of Watauga High School, located off N.C. 105 in Boone, though organizers have requested there be no bicycles, skateboards or pets.

Talk to anyone who has shopped on a trip to China and you’ll hear stories about high-quality knockoffs at bargain-basement prices. It seems everything from high-end watches to designer clothes have their Chinese equivalent tagged at fire-sale prices. This trend doesn’t stop there and includes big-ticket items like cars and trucks. Manufacturers have long complained that the Chinese business community has little respect for intellectual property rights, and a tour around the Beijing show is proof that the 120 or so local manufacturers vying for market share aren’t relying on in-house designs to get in on the action.

While some of the knockoffs are dead ringers, others are close enough. Such is the case with the Lifan 320, which borrows heavily from the Mini. The big difference between the two is that the Chinese variant has four doors compared to the Mini’s two.

In the exact duplicate category, there’s the Great Wall Coolbear. Cool name, not original looks. This time Great Wall uses the last-generation Scion xB as its template and copies it right down to the size of the badge, but with different graphics. Even the instruments, which are in the center of the Scion’s dash, is faithfully re-created in the Coolbear.

Many of the clones are meant for domestic consumption only, so most manufacturers, if they are aware of the clone at all, take a hands-off approach. However, the Shuanghuan Noble, a lookalike for the smart car, made it to the Frankfurt show last fall, where Mercedes-Benz, smart’s parent, threatened legal action if the Noble were sold in Europe. Perhaps it was the car’s motto “Smarter than the rest” that got Mercedes’ attention.

Another Mercedes knockoff comes from a company whose initials, BYD, stand for Build Your Dream. Well, they’re building someone else’s dream of a car with the BYD F8, which is a ringer for the Mercedes-Benz CLK. The cars share the same quad-headlamp look with a horizontal slotted grille. One difference is that the F8 has a retractable hardtop as opposed to the CLK’s soft top.

While the Shuanghuan S CEO looks like a BMW X5, enough so, that BMW also threatened suit if the vehicle were sold outside China, you’ll find that beneath the skin, it’s nothing like the original. Instead of unit-body construction with an independent suspension, you get a trucklike frame with leaf springs. As with any fake, caveat emptor.

Ford is suing the U.S. government’s Internal Revenue Service for $445,292,207 in interest on tax overpayments for 1983 to 1989, 1992 and 1994. Half a billion dollars isn’t much to the IRS, but it could prove very useful to cash-strapped Ford.

“We believe the IRS failed to pay the correct amount of interest,” Ford spokeswoman Marcey Evans told the Detroit News. “We tried to resolve it at the administrative level without success. Because of the size of the amount and the dispute, we had no choice but to file.”

Ford recently made a number of key moves to raise much needed capital. The recent sale of Aston Martin, Jaguar, and Land Rover brought ford billions of dollars, and rumors continue to suggest Volvo is next. Another $445 million would likely help Ford in its quest to return to profitability.

“The IRS’ calculation of […] overpayment interest is not a simple matter of taking the tax underpayment […] and computing interest on that amount,” the lawsuit contends.

“Rather, the IRS recomputes the taxpayer’s account for the specific tax year by sorting all of the transactions in order of the dates they are deemed to be effective and computing interest on the account balance as it is affected from transaction to transaction.”

Among the many car makers, only Honda posted a gain in the month of June.
At Dick Hide Honda, the local car salesmen are having trouble keeping up with demand. Recently, the smaller models have been the hot sellers, including the Honda Civic and the Honda Accord–two of the best selling cars nationwide.

   Analysts are saying the struggling economy, as well as high gas prices, are taking its toll on the auto market. Employees at Dick Ide say that the two main factors for the surge in Honda purchases at their store are the gas mileage the cars get and previous success with a Honda.

GM, Ford, Chrysler, and Toyota sales were all down in June.

I represent a country that has over 1.1 billion people; that began a long and arduous journey of development; and that has, in recent years, rediscovered its inner strengths and acquired the capacity to end poverty.

I speak with great anguish because the goals that we have set for ourselves are in grave peril.

Oil prices threaten to wipe out the economic gains made by developing countries in recent years. The irrational escalation in oil prices is the cause of diversion of scarce resources from education, health and other social sector schemes.

Three weeks ago, India passed on barely 9 per cent of the required price increase to consumers: the result is that inflation measured by wholesale prices has crossed 11 per cent.

We are sorry to note that even oil producing countries such as Indonesia, Russia, Saudi Arabia and Venezuela face double-digit inflation rates ranging from 10.5 per cent to 29.3 per cent.

How did this situation come about? And how may we overcome what appear to be formidable challenges? Let me focus on some key areas from the perspective of developing economies like India.

Questions have been raised about the fundamentals of the oil industry. There is a need for the oil industry to re-assert its leadership in price formation and not remain passive spectator of speculation and paper trading in oil. The global hydrocarbon community must address this situation through appropriate supply-side responses and calm the oil markets.

Today, the vulnerability of the supply chain to temporary supply disruptions stands exposed. Global oil consumption grew by 1.1 per cent or 1,000,000 barrels per day in 2007 whereas the global oil production fell by 130,000 barrels per day. Spare capacity, across the supply chain, has dwindled considerably. This has added to risks and uncertainty.

According to the estimates of the International Energy Agency, our future oil and gas needs call for massive investments of the order of $ 10 trillion by the year 2030. Such fund mobilisation can be achieved. Fresh investments are not materialising perhaps because of anticipated fall in demand. This is plainly wrong.

Respectfully, we reject the suggestion that rising demand is the cause of spiraling oil prices. Surely, demand and supply dynamics can not explain what has happened over the last 12 months.

How is it that oil prices were $70 a barrel in August, 2007, and how is it that they have doubled when there has been no dramatic change in demand? The causes for the current pandemonium in oil prices lie elsewhere: in unregulated over-the-counter markets and futures trading in oil.

There is ample evidence that large financial institutions, pension funds, hedge funds etc. have channelised trillions of dollars into commodity investments and commodity derivatives.

It is common knowledge that these financial transactions are unregulated and highly opaque. The demand for oil generated by these funds is purely speculative demand. In our view, the time has come for producers - especially OPEC - and consumers to wrest control over oil trading from the hands of the speculators.

The only way forward is for the both producers and consumers to find common ground. We have a proposal that will instill mutual confidence. We propose that we adopt a Price Band Mechanism. Consuming countries must guarantee that oil prices will not fall below an agreed level and producing countries must guarantee that oil prices will not rise above a guaranteed level.

In the band between these two levels, let prices be determined by market forces. This is the only way to shelter the world from volatility and unpredictability in oil prices.

We firmly believe that the current level of international oil prices is in the interest of neither the oil-producing countries nor the consuming countries. If the global economy slows down or slips into a recession due to high oil prices, that will eventually hurt all of us.

I appeal to you in the name of development; I appeal to you on behalf of all developing countries to seize the moment.

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For many years, one of Alfa Romeo’s biggest problems as far as the UK was concerned was the dismal experience customers had with dealerships. According to a recent survey, Alfa’s efforts to reverse that trend are paying off.

The Italian company has achieved the greatest improvement of all manufacturers in the Auto Express Driver Power survey, jumping eleven places from its 2007 ranking. 96% of Alfa Romeo owners among the 32,000 people questioned said they would buy another model from the same company once they’ve finished with the one they have now.

“We have made a bold commitment to dramatically improve the driving and dealer experience for our customers,” says Alfa Romeo UK’s Managing Director Christopher Nicoll. “Many elements of the plan are already in place and it’s clear that they are having a positive impact on our customers. We are working to continue this upward trend. It’s what our customers deserve.”

Alfa Romeo has brought the Cloverleaf name back to the UK for a special edition of the GT which goes on sale from July 1.

In the past, “Cloverleaf” has always been used to distinguish the highest-performance model in a range. This time it’s a bit different; the GT Cloverleaf is mechanically standard but comes with extra equipment including 18″ double-spoke alloy wheels, red brake calipers, satin-effect front grille and door mirrors and a choice of three exterior colours: Carbonio Black, Alfa Red and Atlantico Blue.

Inside, the Cloverleaf gets leather sports seats, aluminium pedals, red instrument dial backgrounds and a Bose audio system with an MP3 reader.

The GT Cloverleaf comes with a choice of 1.8- and two-litre JTS petrol engines and 150bhp and 170bhp versions of the 1.9 JTDM turbo diesel. The 170bhp JTDM has Alfa’s Q2 limited-slip differential and a Sport button which alters the response characteristics of the throttle. Prices start at £18,980 for the 1.8 JTS and go up by £1000 for each model in the order given.

“What’s it gonna take to put you in this car today?” The answer to this familiar saleman’s question, for hybrid car buyers anyway, is to wait until tomorrow.

Demand for the gas- and electrical-powered vehicles continues to outpace supply as rising gas prices reach new highs — $4.19 last week in the metro-east.

At Meyer Honda in O’Fallon, orders for the Honda Accord, Honda Fit and Honda Civic — both hybrid and nonhybrid models — are back-ordered for three to four months. Some models can get as much as 30 miles or more per gallon.

“Expect to wait,” said Meyer Honda sales representative Dave Pusa. “Demand is really unbelievably high.”

Newbold Toyota Scion, also in O’Fallon, is also waiting on orders. Manager Jim Leist has sold a number of Toyota hybrid models, especially the Toyota Prius.

“I get several hits daily on the Prius as well as those coming through the door asking questions and placing orders for a Prius,” Leist said. “We’re probably waiting on 30-plus orders now and take more everyday. There is very high demand for the cars right now.”

The Prius continues to lead online automobile sales tracker cars.com’s list of top new-car searches. Eight of the top 10 are Toyota and Honda models in addition to the Nissan Altima and Ford Mustang.

“Obviously, what we’ve expected is anytime gas prices spike in the summertime, there is a pick up on the search for more fuel-efficient vehicles,” said cars.com spokesman Steve Nolan. “This summer is even more so.”

“We cannot keep them on our lot,” Leist said. “They sell so quickly.”

Rusty Wagner doesn’t have many hybrids at his Wagner Buick-Pontiac-GMC in Belleville, but he said customers are still coming in to buy more fuel-efficient cars — such as the Buick Lucerne, Buick Lacrosse, Pontiac Vibe and Pontiac G6 — over traditional gas-suzzlers.

“There has definitely been an influx of new vehicle interest rather than in trucks or SUVs,” Wagner said. “We’re still selling trucks and SUVs, but not the volume we were before.”

Across Illinois 15, Oliver C. Jospeh Chrysler-Dodge has also been selling more Dodge Calibers, Dodge Avengers and Chrysler Sebrings — models that get more miles per gallon.

Jamie Auffenberg said compact and sub-compact cars are in greater demand at the numerous metro-east dealerships he owns. He said he has seen demand in a number of models — the Nissan Altima, Nissan Centra, Nissan Versa, Nissan Rogue, Hyundai Accent, Hyundai Elantra, Hyundai Cinada, Kia Spectra, Kia Rio, Kia Sportage, Mitsubishi Lancer, Jeep Patriot and Ford Escape.

“It seems that everyone is buying (for) fuel mileage,” Auffenburg said, “there’s no question.”

A recent survey by cars.com affirms that more consumers are pursuing more fuel-efficient vehicles as $4-a-gallon gas prices seem to be here to stay. The poll revealed that 85 percent of consumers said fuel prices are prompting them to look for cars that don’t require as many trips to the pump. Of those, 28 percent said they would buy a more fuel-efficient car immediately, and 57 percent said they would buy one they next time they purchase a car.

“It’s obvious hybrids and anything that is more fuel-efficient have gained popularity on the site,” Nolan said. “Honda Civic, Honda Fit, as well as other vehicles popular for years are also very fuel-efficient, like the Toyota Corolla and Honda Civic non-hybrid.”

But there is a new competitor this summer that is also ringing up sales. Over the past six months, a new super-compact car import has ramped up sales across the United States with its 41-miles-per gallon in-city and 47-miles-per-gallon highway performance.

Known as Smart Cars, these two-seaters are made in France by Mercedes and have an engine manufactured by Mitsubishi that sell for between $12,000 and $18,000. These vehicles are about half the length of a typical four-door sedan, use about half the gas and have been available across Europe for the past 15 years.

But there are only a limited number of Smart Car dealerships in the United States. The only one around here is across the river in Creve Coeur, Mo., at Plaza Motor Co., located at 11830 Olive St. Road. Plaza Motor Co. spokesperson Marissa Zouglas said the dealership is the only one between Chicago and Kansas City and has been placing hundreds of orders from consumers throughout Iowa and Illinois.

“They are great cars,” Zouglas said. “They are the wave of the future.”

Launched in 1991, the Opel Astra replaced the legendary Kadett (the first one was made in 1936) and is one of Opel’s most sucessful model which is currently being built in ten locations worldwide, in countries like Germany, Belgium, UK, Poland, Russia, Ukraine, Brazil and Serbia. 17 years later, the 10 millionth Opel Astra was built yesterday at the Opel plant in Bochum, Germany. The milestone car is a Silver Lightning Astra Station Wagon 1.7 CDTI.

The first generation Opel Astra was built until 1998 with 4.13 million units sold, which makes it one of the most successful cars evers. The second generation, built between 1998 and 2004 was sold in 3.8 million units, while the current generation, introduced in 2004 was sold in 1.9 million units, with over 500,000 sold only last year.