Southwest Idaho car sales up in January
Good news keeps coming: Southwest Idaho car dealers finished off 2011 as their best year since the recession hit in 2008. And the sales kept strong into January 2012.
The numbers: Total vehicle sales in the eight-county area were up 24 percent from January 2011 to 4,590, according to Idaho Statesman market research based on vehicle registrations provided by Cross Sell. New-car sales were up 44 percent. New-vehicle purchases made up 31 percent of all vehicle sales in January, the first time they have topped 30 percent since 2007.
What’s going on? Demand for new cars is fed partly by the cost of used vehicles, which remain high because automobile production slumped from 2008 through 2010, said D.J. Wiebold, general manager of Dan Wiebold Ford in Nampa. At the same time, aging cars have created pent-up demand that is now bringing more people onto lots, Wiebold said.
Who is on top? Wiebold was the top new-car dealer in the region in January, with sales up 26 percent over January 2011. Lithia Ford was the top used-car dealer, with sales up 118 percent.
GM in Alliance Talks With Peugeot as European Sales Sink
(Updates GM shares in the fifth paragraph.)
Feb. 22 (Bloomberg) -- General Motors Co. and PSA Peugeot Citroen are in talks to form a broad partnership as the two automakers struggle with declining car sales in Europe.
The alliance may include developing engines and building vehicles together in the region, a person familiar with the discussion said today, declining to be identified because the talks aren’t public. Peugeot rose the most in almost three years.
GM, the world’s largest carmaker, is looking for ways to turn around its unprofitable Opel brand, while Peugeot is seeking to stem a growing debt load. Peugeot’s 2011 sales in the region plunged 8.8 percent to 1.68 million vehicles. GM’s dropped 1.9 percent to 1.17 million. Auto executives expect deliveries in the region to shrink in 2012 for a fifth year.
“A partnership with GM would make sense, because Peugeot and Opel both lack scale,” said Sascha Gommel, a Frankfurt- based Commerzbank analyst with a “hold” rating on Peugeot shares, adding that Fiat SpA is also a potential partner.
CNET (blog)New Jersey already exempts electric cars from state sales tax, and a bill in the legislature would provide a state income tax credit of $5000 for electric vehicles and $3000 for plug-in hybrids purchased in 2012. The Nissan Leaf lists for just under EV industry gets ready for bumpy rideNissan may add jobs in Smyrna if US sales keep risingall 573 news articles »
Financial Times“We have sold 72 of the 77 limited edition One-77 car across the globe. Now only five are left and an Indian luxury car enthusiast has shown interest in buying a One-77 car,” said Bill Donnelly, sales and service director at Aston Martin. Increase demand over Aston Martin car in IndiaAston Martin Brings $4.5 Million Car to India as Millionaires Seek LuxuryAston Martin launches in India -all 144 news articles »
