Michael J. Moody

Car prices are soaring, and they’re not going to stop

Car dealer lots have only a fraction of the vehicles — both new and used — that they typically have. That’s helping send prices to record levels and lifting the nation’s overall inflation rate.

Car dealer lots have only a fraction of the vehicles — both new and used — that they typically have. That’s helping send prices to record levels and lifting the nation’s overall inflation rate.

And the price increases aren’t over yet.

The average new car price hit a record $38,255 in May, according to JD Power, up 12% from the same period a year ago.

About two-thirds of car buyers paid within 5% of the sticker price in May, with some even paying above sticker.

Wholesale prices for used cars sold at auction are up 39% since the start of this year, according to other data from JD Power. Retail used car prices are

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Man Faces Charges In Train Automotive Smuggling Attempt

Car & Automotive,automotive industry,Car & Mechanical,Car & Classic,motorcycleTransport infrastructure consists of the fastened installations, including roads , railways , airways , waterways , canals and pipelines and terminals equivalent to airports , railway stations , bus stations , warehouses , trucking terminals, refueling depots (including fueling docks and fuel stations ) and seaports Terminals could also be used each for interchange of passengers and cargo and for maintenance. From 1998 to 2004, the price of gasoline fluctuated between US$ 1 and US$2 per U.S. gallon 125 After 2004, the worth elevated till the average gas value reached a excessive of $four.11 per U.S. gallon in mid-2008, but receded to roughly $2.60 per U.S. gallon by September 2009. one hundred twenty five More recently, the U.S. skilled an upswing in gasoline costs by means of 2011, 126 and by 1 March 2012, the national average was $3.seventy four per gallon.

AutoTrader. Here, sellers pay to record their automobiles. … Read More

Hudson Automotive, TKO Group buy car dealerships in Southern states

Three dealership groups, including the growing Hudson Automotive Group, have purchased stores in Alabama and Louisiana in deals that closed in the second quarter.

Here’s a quick look at the transactions involving domestic and import brand stores.

 

Hudson Automotive, of Charleston, S.C., acquired its first dealership in Alabama on Monday when it bought Hoover Toyota, located south of Birmingham. The group bought the dealership from Gordie Stewart, who had owned it for 22 years, the Hoover Sun reported.

“It’s a great brand, and Birmingham is a great market,” David Hudson, CEO of Hudson Automotive, told Automotive News. “We like Toyota a lot.”

This is the group’s 33rd rooftop, Hudson said, including a used-vehicle store. Hudson Automotive also has dealerships in Tennessee, Kentucky, South Carolina, North Carolina, Louisiana, Georgia and Ohio. Hoover Toyota was the group’s first transaction since November, when it acquired Beaman Automotive Group, made up

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Car prices are soaring, and they’re not going to stop

Car dealer lots have only a fraction of the vehicles — both new and used — that they typically have. That’s helping send prices to record levels and lifting the nation’s overall inflation rate.

And the price increases aren’t over yet.

The average new car price hit a record $38,255 in May, according to JD Power, up 12% from the same period a year ago.

About two-thirds of car buyers paid within 5% of the sticker price in May, with some even paying above sticker.

Wholesale prices for used cars sold at auction are up 39% since the start of this year, according to other data from JD Power. Retail used car prices are up a more modest 20% in the same period. That’s also a significant jump for this time of year, and the higher wholesale prices are pointing to bigger increases on the way.

“That puts

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