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Automotive News

Kia and Hyundai Break-Ins On the Rise in Kent

Social media challenges, which have steadily increased since 2020, range from silly and benign to downright dangerous and harmful. One of the latest harmful challenges to hit social media this summer is the “Kia Challenge”—and it continues to gain momentum across the country. The Kia Challenge is a TikTok trend that encourages social media users to steal Kias manufactured between 2011-2021 and Hyundais made between 2015 and 2021. These models are being targeted because they don’t come with an engine immobilizer, which is a piece of hardware that prevents the engine from starting if the matching chip in the key…

Automotive News

45% of used-vehicle loan terms ‘frighteningly’ long at 84 months, up from 25% in 2021

With high vehicle values ​​and high interest rates compromising affordability, buyers — particularly entry-level ones — have been forced to extend borrowing time frames, Ross said. “Consumers are looking to stay in a consistent monthly payment range to what they used to previously, so the only thing they have is to elongate that loan term,” he said. Ross, Karwel and Abraham saw little relief in sight for buyers as both new- and used-vehicle inventories remained tight. UPSIDE: MORE F&I SALES For dealers, however, the longer loan timelines are creating opportunities. Finance and insurance products, once pitched when selling new-vehicle sales,…

Automotive News

McLaren reportedly confirms four-door model and next flagship supercar

See Full Image Gallery McLaren’s on-again, off-again four-door model has received the green light for production, according to an unverified report. The company is also allegedly working on a new flagship model that will take the torch from the long-retired P1 and get Formula One-derived technology. Citing anonymous dealer sources, industry trade journal Automotive News wrote that the first four-door McLaren model will make its debut by the end of the 2020s. “[McLaren will] bring in another class of automobile in 2028. Stay tuned. It may have four doors and four seats,” Jamie Corstorphine, the British company’s director of product…

Automotive News

Cupra announced Raval as the name of small electric hatchback

Also on Thursday, the Seat announced record operating profit for the first quarter of 2023, at 144 million euros, compared with five million euros in the first quarter of 2022. Revenue was 3.6 billion euros, 48 ​​percent higher than the first quarter of 2022. Cupra began as a trim line of Seat and became its own sub-brand under former CEO Luca de Meo, now CEO of Renault Group. Cupra is now Seat’s main growth driver, Seat said. Seat said Cupra sold 46,600 units during the first quarter of 2023, 83 percent more than in the same period in 2022. Seat…

Used Cars

Used car brands with the biggest price increases in 2023

The last few years have been tumultuous for used cars, to say the least. Prices and supply are all over the map, leaving many to wonder if things will ever calm down. Unfortunately, prices likely won’t return to normal for another few years, but most brands have seen average prices drop over the last year. CarGurus’ used car price trends show that most vehicles have fallen, but some have continued to rise. The list of used cars with the most significant price increases includes some familiar names we no longer see in the new market. Ten brands with the largest…

Automotive Deals

US auto parts supplier signs deal to buy Quebec’s Uni-Select in $2.8-billion deal

LKQ Corp. has signed a deal to buy Quebec-based Uni-Select Inc. in a roughly $2.8-billion deal that aims to boost the US automotive equipment supplier’s aftermarket business amid a thriving market. Under the agreement, LKQ will pay $48 per Uni-Select share in cash for the aftermarket auto parts distributor. The purchase marks a 19.2 per cent premium over the $40.28 closing price of Uni-Select shares on the Toronto Stock Exchange on Friday. The transaction, which needs shareholder approval, also requires antitrust clearances in Canada, the US and the UK and approval under the Investment Canada Act. LKQ chief executive Dominick…

Automotive repair

What customers want from you

Image credit: Depositphotos. comThe easier you can make it for a customer to access your automotive repair services, the more likely they’ll get those services from you. So shops need to look at ways to break down the barriers that are impeding customers from choosing them when they’re in need of an automotive service professional, said Sara Fraser, vice president of business development and client services at Haas Performance Consulting. For instance, booking an appointment with a shop should be as easy as booking a doctor’s appointment, she said. Patients can go online and book appointments on their doctor’s…

Used Cars

Join the AutoForm Global Webinar: A Smart and Systematic Approach for Tube Forming Engineering, 24 May, 2023

Systematic Process Improvement for Tube Hydroforming Tubing contributes to lower costs, advanced safety and lightweighting of automotive components such as chassis parts, shock absorbers, suspension arms, seats and instrument panel beams. Tube hydroforming is the process of manufacturing such critical components and the success of the tube hydroforming process depends on the best combination of material properties, process parameters, process sequence and die geometry. In this webinar we will focus on a smart systematic process improvement approach to find the optimum hydroforming solution for a high strength steel tube component efficiently in a shorter time. This can result in significant…

Used Cars

10 Used Cars That Will Last 500,000 Miles

500,000 miles. That is not easy even for reliable brands considering there are various variables to that. A new car will be more reliable off the line and more trouble-free, unlike a used car which could’ve already been done many km in conditions we don’t know. So, if a used car can easily surpass the 500,000-mile mark without requiring any major overhaul, we can safely say that it is one car that offers stellar reliability.But what if you’re looking for something like that – a used car that can easily go 500,000 miles without breaking into a sweat? Well,…

Automotive News

BMW Q1 earnings: Higher margins for the car business

BERLIN — BMW AG reported a higher earnings margin for its cars segment, with a rise to 12.1 percent in the first quarter from 8.9 percent a year earlier. BMW benefited from continued stable pricing for both new and used cars, it said in a statement on Thursday. The automaker attributed a drop in first-quarter earnings before tax to 5.1 billion euros ($5.65 billion) from 12.2 billion last year to the impact of last year’s full consolidation of its Chinese joint venture, BMW Brilliance Automotive. The company kept its outlook unchanged in the face of ongoing high costs and rising…