Automotive News - June 9, 2008 - (Page 37)

JUNE 9, 2008 • 37 CLASSIFIEDS 800-388-1800 CARS WANTED TRUCKS New F-150, Ram in trouble as market for big pickups collapses continued from Page 1 Sharing the pain The combined U.S. market share for full-sized pickup trucks has been in free fall since February. 16% Percentage of U.S. new-vehicle sales PREMIUM AUTO GROUP WWW.PREMIUMAUTOGROUPINC.COM WE BUY CARS TRUCKS & SUV MEGA VEHICLE ACQUISITION • WE BUY IN BULK • FULL OR PARTIAL INVENTORY • NO INVENTORY TO LARGE • CASHIER CHECK OR WIRE • ALL MAKES AND MODLES • NEW AND PRE-OWNED VEHICLES • WE WILL COME TO YOU • AGED OR OVERSTOCKED CALL 562-869-9020 FAX 562-869-9047 mike@premiumautogroupinc.com ASK FOR MIKE AUCTIONS Assets Surplus to Ongoing Operations of Continental Tire Major Tire Manufacturer Plant Closing 500 + Lots of Tire Manufacturing Equipment Description: • (4) NRM 6” Extruders m/n 6 • (2) General Tire m/n A72-SSRP Single Stage Tire Building Machines • Over 40 McNeil Akron 2-Mold Tire Curing Presses, 42” • (3) Micro Poise Automatic Tire Balancing Machines (Late Model) • (5) Akron Standard & McNeil Akron Steel Cord Bias Cutting Lines • Adamson United Twin Breakdown Mills • York 1000 Ton Cap. Water Chiller (1998) • Cincinnati Milacron & Bridgeport Milling Machines • Monarch, Lodge & Shipley & Summit Lathes • Machine Shop Incl. Pipe Threader, Grinders, Saws, Broach Machines, Sanders,Welders and Presses • Hyster,Yale and Clark Forktrucks & Chargers News dealer survey cited a buyer who last month traded in a diesel-powered, 2005 General Motors heavy-duty pickup with 51,000 miles — and got only $9,000. Kelley Blue Book puts the average trade-in value for a heavy-duty Silverado or GMC Sierra with a diesel at about $17,000. Personal-use buyers are turning away in droves, and many work truck owners who rely on large pickups can’t afford to buy new ones. The professional users have been hammered by a downturn in the construction industry and the rock-bottom residual values for the used trucks they’d like to trade in. J.D. Power projects a mild recovery for the segment in 2009 to about 1.8 million to 1.95 million units. But Schuster warns that a major turnaround might not come for several years if at all. “All of our previous assumptions on the full-sized pickup segment are off the table,” said Bob Carter, general manager of Toyota Division, which entered the segment with the full-sized Tundra last year. Until recently, Toyota had insisted that the Tundra would see mild sales growth this year, but now it forecasts a decline. The problem is exacerbated because huge numbers of pickup owners owe more on their trucks than the vehicles are worth, and the value is dropping. In May, 41.2 percent of buyers trading in full-sized pickups were upside down — compared with 35.2 percent in May 2007, according to Power data. No other segment comes close to that level. The percentage of full-sized pickup owners who traded in full-sized trucks for new ones dropped from 64 percent to 53 percent in May compared with the same month last year, says Power. Many opted for sedans or crossovers. That adds to the glut of new trucks on dealer lots. And the large pickups that do sell are bringing in less cash. Power says transaction prices for large pickups fell http://WWW.PREMIUMAUTOGROUPINC.COM http://www.goindustry.com http://www.goindustry.com http://www.goindustry.com http://autonews.com/classifieds

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Automotive News - June 9, 2008 Hummer Bummer: A death sentence? New F-150, Ram in peril as big pickups collapse Japanese can add small cars faster than Detroit 3 Battery shortage hurts hybrid sales 2 key overseas staffers move to Automotive News in the U.S. Toyota may add Camry to Indiana truck plant Mazda extends warranty on RX-8 rotary engine CAW to consider strike against GM Porsche's new 911 GM plans big ad push for its big hybrid SUVs Chrysler cuts fees to outside service firms 5% Toyota considering 'Made in U.S.A.' Prius Congress, Bush square off over rollover suits GM finance whiz changed the industry GM's big SUVs may get lighter Harbour Report: Chrysler, Toyota most efficient Spring intros can be dicey Ford spends big on MKS ad launch Media buyer for GM cuts 25 jobs Sources: GM poised to buy Cobasys GM dealer program rebounds Mazda updates the RX-8 New Maxima is a tad smaller — but more buff Congress must balance safety, mpg concerns Is the gas crisis real or just temporary? What about poor driving? There's no substitute for safe driving Lack of regulation foils safety laws Sticker law cleaned up a pricing mess Lithia to sell outlets, delay used-car stores Nielsen likes to step off the beaten path GM union local strives to pull parts jobs in-house JCI will open Ga. plant to supply Kia Dealers: Be open about credit problems Finance venture has $1 billion Picture this Personnel Dealers BMW purchasing chief 'looking for waste' Nissan Mexicana gets new chief Ford Flex output begins Hyundai Genesis: $33,000 Ford buys more from minorities Audi's U.S. chief: Brand can handle high gas prices May in Detroit: Scary, not merry Infiniti FX starts at $41,765 Lincoln: 8,600 MKS orders Plastics supplier sees growth Jenkins gets Aston Martin post Smith is CEO of Jaguar, Land Rover Kremlin watching, Chrysler style Toyota breathing down GM's neck on monthly U.S. sales PR chief Steve Harris: At GM through '08 Small-car surge is a replay of 1979 Auto execs would benefit from some store experience Mini's mixed results: Sales soar, quality stumbles Nice car — so what's the ppmpg? Volt's good PR got struck by lightning

Automotive News - June 9, 2008

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