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Used Cars

KIA Success in the Digital Transformation in Hot Stamped Parts, Part II: Application of Digital Die Spotting

July 14, 2023

A Focus on the Product and Business Processes of Manufacturing Ecosystems This is part two of a three part hot forming series exploring how KIA has researched the current technologies which enable digitization in hot stamping at all business and supplier levels. In this post we see how KIA applied digital die spotting to their hot forming process. The business success of the automotive digital transformation from a technological, organizational, and cultural perspective is the most difficult part of its implementation. One of the reasons is product competitiveness is deeply dependent on the level of digitalization operated at their supplier…

Used Cars

Inflation persists and car prices are a big reason

July 10, 2023

‌Car prices soared after the coronavirus lockdowns, and two years into the United States’ worst inflationary episode since the 1980s, the industry demonstrated that getting back to normal will be a long and lurching ride. In 2021 and early 2022, global shipping problems, a semiconductor shortage and factory shutdowns coincided with strong demand to push vehicle prices sharply higher. Economists had hoped that prices might ease as supply chains healed and the Federal Reserve’s interest rate increased deterred borrowers. Instead, prices for new cars have risen further. Domestic automakers are still producing fewer cars and focusing on more profitable luxury…

Used Cars

Wholesale used vehicle prices fall as sales weaken

July 7, 2023

A sign reads ‘We Buy Used Cars!!’ at an auto dealership on February 15, 2023 in Glendale, California. Mario Tama | Getty ImagesDETROIT – Wholesale used vehicle prices reached their lowest level of the year in May, as sales fell amid high interest rates and inflated retail prices. Cox Automotive reported Wednesday a 2.7% decline from April to May in its Manheim Used Vehicle Value Index to 224.5. It marks the second consecutive monthly decline and the index’s lowest level since 219.3 in December. The index, which tracks vehicles sold at its US wholesale dealership auctions, remains elevated from…

Used Cars

Talkin’ Bout My Generation – FormingWorld

July 6, 2023

This article first appeared in the February 2023 Automotive Special Issue of MetalForming magazine (www.metalformingmagazine.com), and is reprinted here with permission granted by the Precision Metalforming Association. You’ve probably seen references to 3rd Gen steels—implying that there are 1st and 2nd Gen steels as well. This article explores their similarities, differences and evolution. The automotive industry drives much of this development, but the benefits offered by newer grades promote applications in other industries. Where it Began: 1st Gen Steels During the era of tail fins and sock hops, automakers had only a handful of sheet-steel grades from which to choose.…

Used Cars

Peach Cars, a Kenyan used-car marketplace, raises $5M in seed investment

July 4, 2023

Kenyan automotive marketplace Peach Cars is announcing its $5 million seed round led by Japan-based The University of Tokyo Edge Capital Partners (UTEC) and other angel investors, including Shintaro Yamada (founder and CEO of Mercari), Peter Kenevan (VP, Head of Japan at PayPal), and Hiroaki Ohta (general partner at Japan’s Waseda University Ventures). The startup, founded by Kaoru Kaganoi and Zachary Petroni in 2020 to democratize car ownership in sub-Saharan Africa, starting with Kenya, will use the money to grow the business, hire more talent and double down on R&D as it expands its tech solutions, according to a statement.…

Used Cars

Estimating The Fair Value Of Federal Signal Corporation (NYSE:FSS)

July 3, 2023

Key InsightsThe projected fair value for Federal Signal is US$73.36 based on 2 Stage Free Cash Flow to EquityFederal Signal’s US$64.03 share price indicates it is trading at similar levels as its fair value estimateAnalyst price target for FSS is US$61.60 which is 16% below our fair value estimateDoes the July share price for Federal Signal Corporation (NYSE:FSS) reflect what it’s really worth? Today, we will estimate the stock’s intrinsic value by taking the expected future cash flows and discounting them to today’s value. The Discounted Cash Flow (DCF) model is the tool we will apply…

Used Cars

Average used car loans are now much more than the vehicles are worth

July 1, 2023

Used car prices have been all over the map in recent times, with some used models exceeding their new MSRPs as demand soared and supply dwindled. While that situation appears to have been mostly resolved, the finances of the used car market are still raising eyebrows, as buyers seem to be rolling more negative equity into their purchases in 2023. A new study from JD Power and TransUnion pointed out that the average loan-to-value ratio of used car financing has ballooned to 125 percent during the first quarter of 2023. That’s up from 110 a year ago and 104 percent…

Used Cars

THE QUEST FOR FIRST HIT PASS OUTCOMES

June 28, 2023

Excerpted from a pre-release publication tentatively titled “Brickwalls and Barricades: The Quest for Flawless Execution of First Hit Pass Outcomes”, this article introduces actual case studies to showcase the ability to avoid forming defect failures at the stamping press through disciplined execution of the simulation and die build with proven tradecraft and capable craftsmanship. A prominent automotive seating company built a progressive die for a safety-critical stamping. Crash tests with actual stampings verified the occupant would not survive a front-end collision because edge cracks separated the seat from the vehicle. An iconic home appliance company built transfer dies with draw…

Used Cars

Cambridge planners overruled by OLT decision on used car sales

June 28, 2023

Successful appeal means Franklin Boulevard business can sell up to 60 used vehicles at a time on industrially zoned propertyThe owner of an automotive repair shop on Franklin Boulevard has been granted permission to sell up to 60 used cars on his lot at a time after appealing to the Ontario Land Tribunal over a committee of ruling adjustments last fall that denied a zone change application to allow it. In a ruling released June 5, the tribunal’s Gregory J. Ingram disagreed with the city planning staff over the application by Special Interest Automobiles owner Ali Ghaddar. Ghaddar wants…

Used Cars

The UK’s most and least reliable used cars – Mercedes, Kia, Honda & more

June 25, 2023

According to the findings of a new survey, Suzuki achieved the highest brand rating for its reliability with 94.7 percent. The brand’s Vitara small SUV received a staggering 99.3 percent reliability score, with the Swift small car also getting a near-perfect mark. The data, from What Car?, found that Japanese brands occupied six of the top 10 most reliable brand positions. However, at the other end of the scale, Citroën and Land Rover received the lowest brand reliability scores, of 60.3 percent and 61.3 percent respectively. Small cars had the highest overall reliability ratings, with the Honda Jazz achieving a…

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