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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…

Automotive repair

Hyundai Heads to Home Event at Weathertech Raceway Laguna Seca With Momentum – Autos Community

Hyundai Motor America continues competing in the IMSA Michelin Pilot Challenge (IMPC) as the schedule shifts to WeatherTech Raceway Laguna Seca for the Motul Course De Monterey, powered by Hyundai N weekend – the home event for Hyundai Motor America. Making his debut at WeatherTech Raceway Laguna Seca, and IMPC is Jordan Wiseley. Wiseley is an actor and athlete who competed on MTV’s THE CHALLENGE television series and became one of the winningest competitors across seven seasons. The WeatherTech Raceway Laguna Seca 120 is set to see the green flag fly at 7:30 pm ET / 4:30 pm PT on…

Automotive Deals

Mullen Automotive Inc’s shares motor ahead after completing the second EV deal

Mullen Automotive Inc (NASDAQ:MULN) saw its shares motor ahead on Wednesday after completing the purchase of bankrupt EV start-up Electric Last Mile Solutions (ELMS), paving the way for the company to manufacture its first electric vehicle. The California-based EV company said it had received approval from the US Bankruptcy Court on October 13 to buy ELMS in a $240 million cash transaction. The deal includes the acquisition of ELMS’ manufacturing plant in Indiana, which is capable of producing 50,000 cars per year. Mullen also acquired all intellectual property of the defunct auto company. READ: Electric vehicles stock climbs on big…

Automotive News

What dealerships service managers are reading

When I was first starting at Automotive News a few years back and trying to learn the service and parts business, Lee Harkins, CEO of dealership training company M5 Management Services, let me be a fly on the wall at one of his performance group meetings. I must not have made too big of a nuisance of myself because I’ve been invited back to every meeting since, including one a couple weeks ago in Orlando. The discussions there were the same: What are you struggling with? Where are you having success? What’s one best practice you want to share with…

Automotive News

April sales up 2.3% but still below pre-pandemic levels

New light-vehicle sales in April were up 2.3 per cent compared with the same period last year, but still below pre-pandemic levels, at an estimated 144,069 units compared with 180,616 in April 2019, according to DesRosiers Automotive Consultants. Sales in April were also slightly below March. All figures are estimates now that the vast majority of automakers report sales on only a quarterly basis. DesRosiers managing partner Andrew King said in a statement that the seasonally adjusted annual rate of sales for April was 1.48 million units. King says that’s easily the weakest reading so far in 2023, and a…