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flooded car
5 ways to spot finer points of potentially weather-damaged vehicles

AUSTIN, Texas — An auction operator who likely saw at least some of the rain from Hurricanes Harvey and Irma spelled out his five points to consider as the industry watches for flood-damaged vehicles.

“Apart from the basics, there are other telltale signs that dealers and private parties should pay attention to when it comes to signs of hurricane-related damage,” said Tomchay, whose auction is located 70 miles northeast of Atlanta. “Information is power, so arm yourself with as much knowledge as possible to avoid getting burned on the bottom line.”

“Be sure to closely inspect a car’s exterior in proper lighting, preferably in sunlight and from various angles,” he said. “If you’re still unsure, solicit an inspection from a qualified body repair shop.”

Chris Tomchay, co-founder and chief operating officer of The Appraisal Lane and co-owner of the Georgia-Carolina Auto Auction, shared his five [...]

Credit Acceptance is Served Subpoena

 

From Mississippi AG

   

The subprime auto lender Credit Acceptance Corp. disclosed that it has received a subpoena from the Mississippi Attorney General for issues with the company’s origination and collection of loans.  The subpoena was issued on Aug. 14 and the company said it is cooperating with the inquiry, according to a Securities and  Read More

http://waynesautosales.us

 

Yesterday, the news broke that both Ford and GM are phasing out the internal combustion engine and are aiming toward on an all-electric future.

In addition to Norway, France, the U.K. and others, China, with a severe air pollution problem, is pressuring the auto industry to make the switch, and now California is considering banning fossil-fuel powered vehicles.

Read more here

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Dodge Charger, F-250 popular with car theives

Auto thefts decline because of technology, but statistics conflict

img-1The most theft-prone vehicle in America might be the Dodge Charger. Or it might be the Ford F-250 pickup truck.

Those are the contradictory conclusions of the National Highway Traffic Safety Administration and the insurance industry-funded Highway Loss Data Institute.

Still, the government agency and private group agree that the theft of late-model vehicles is on a rapid decline in the United States. One reason: automakers’ increasing use of ignition immobilizers, which stop thieves from hot-wiring cars. Nearly 90 percent of 2012 models are equipped with them.

In a report released on Monday, NHTSA said the car stolen most often during the 2011 calendar year was the Charger, with 4.8 thefts for every 1,000 cars produced in 2011. It was followed by the Mitsubishi Galant, Hyundai Accent, Chevrolet Impala and Chevrolet HHR among vehicles with more than 5,000 units produced that year.

Pickup trucks took [...]

img-2Global sales of BMW Group’s core brand rose faster in June than at Audi and Mercedes-Benz as demand from China and the United States helped the premium carmaker to extend a lead over the two rivals in the first six months of the year.

Sales at the brand were up 9 percent last month to 153,075, the group said today, compared with growth of 5 percent to 140,300 and 8 percent to 131,609 at Audi and Mercedes respectively.

Six-month sales at BMW brand rose 8 percent to 804,000 cars, expanding the lead over runner-up Audi to 24,000 from 11,000 after five months. Half-year sales at Audi and Mercedes rose 6 percent each to 780,500 and 694,000 respectively.

“BMW has stronger momentum than Audi and Mercedes, that won’t change in the second half,” said Hanover-based NordLB analyst Frank Schwope. “Design of their cars has improved and they’re [...]

img-3Tesla Motors Inc., the world’s best-performing automotive stock this year, will join the Nasdaq-100 Index next week, filling the spot vacated by Oracle Corp., which is moving to the New York Stock Exchange.

The electric-car maker will be added to the gauge, which tracks the biggest companies on the Nasdaq, before the start of trading on July 15, Nasdaq OMX Group Inc. said in a statement Monday. Oracle, which last month said it will join the NYSE, is the biggest company to jump between the competing exchanges.

Shares of Tesla, the carmaker headed by billionaire Elon Musk, have more than tripled this year as the popularity of its new Model S sedan helped the company turn its first quarterly profit. Gaining entry to benchmarks tracked by investors is attractive to public companies because it provides a guaranteed shareholder base.

“It’s a coming of age, recognition [...]

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