Thursday, 22 May 2014

As TrueCar IPOs, The Fuelist Launches Classic Car Pricing App ...

As TrueCar IPOs, The Fuelist Launches Classic <b>Car Pricing</b> App <b>...</b>

As TrueCar IPOs, The Fuelist Launches Classic <b>Car Pricing</b> App <b>...</b>

Posted: 18 May 2014 01:42 PM PDT

TrueCar's public offering on Friday showed that investors are willing to back a service bringing price clarity to new car buyers — and the founders of The Fuelist are hoping that same appetite for price clarity will drive demand for their vintage car and motorcycle pricing service.

People spend a lot of money on classic cars worldwide; with one English dentist set to receive a roughly $168 million payout for his collection of 450 classic cars. Roughly $13 billion changes hands between classic car collectors worldwide, according to Fuelist co-founder Thomas Rand-Nash.

According to a recent article in The Economist, the pace of investment in luxury vintage cars is rising faster than any other luxury asset. It's no secret that rich investors are finding new things to speculate on and classic cars seem to be as good a place as any to park a few thousand (or a few million).

The Fuelist offers a way for buyers and sellers to compare pricing for vintage cars worldwide. A user can select from hundreds of different car makers and models to find the sales prices for a particular style of vehicle… or a range of prices for different cars. On Monday, the company will submit a mobile version of its online service through the iPhone app store, according to Rand-Nash.

Even private equity funds are creating strategies to invest in classic cars — and with the advent of an institutional investment community collectors or investors could find that the stock of "cherry" cars could be gone in 60 seconds.

Fuelist has spent the past several months in a private beta for its first 1,000 users, according to Rand-Nash, a serial entrepreneur who previously co-founded the mobile app development company Mobile Genius LLC with his Fuelist partner Matthew Hamilton.

Rand-Nash envisions several revenue streams for The Fuelist. At a basic level the company will be charging subscriptions for access to its business intelligence and analytics around car pricing and the best place to sell a vehicle. For investors or institutions, the company will offer comparable pricing tools so that a user can find a range of different vehicles sellign at a similar price point.

The company is majority owned by the OTC Bulletin Board listed The Chancellor Group, a conglomerate which owns both oil and gas and technology and media properties, according to Rand-Nash.

Photo via Flickr user Trailers of the East Coast

Lincoln <b>Prices</b> 2015 Navigator, Undercuts Escalade By $10k

Posted: 21 May 2014 03:36 PM PDT

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2015 Lincoln Navigator

Lincoln has released most remaining details for its plush 2015 Navigator luxury SUV, which has been repackaged and repositioned somewhat this year to face off with a fully redesigned Cadillac Escalade.

While the Navigator hasn't been given the attention the Cadillac Escalade has seen for 2015, the 2015 Lincoln Navigator arguably changes in ways that are just as meaningful. It gets a new engine, a significant list of new features, and enough detail changes to add up to a cosmetic refresh.

And, it's a relative bargain, if you want a truly American body-on-frame luxury SUV. The 2015 Navigator starts at $62,475 for the base rear-wheel-drive model, up to $75,065 for the top Navigator L 4x4 Reserve.

ALSO SEE: 2015 Subaru Legacy First Drive

Against Escalade, difference grows deeper

At the base level, that undercuts the 2015 Cadillac Escalade (which starts at $72,690) by more than $10,000. That's far more of a price difference between the two models than for 2014, when the difference was less than $8,000, comparing entry models.

Power and torque figures have also been released for the first time for the 2015 Navigator. Here, the familiar 3.5-liter EcoBoost turbocharged V-6 makes 380 horsepower and 460 pound-feet of torque. That's up considerably from its other current applications—including in the Ford F-150.

All Navigator models with four-wheel drive, as well as all models with the available 22-inch wheels, now include a continuously controlled damping suspension to aid ride quality. The Escalade does include standard magnetic ride control in all of its versions for 2015.

Four-wheel-drive models additionally include hill start assist plus Hill Descent Control. And across the model line, the 2015 Lincoln Navigator includes push-button start, the MyLincoln Touch interface, the Blind Spot Information System (BLIS) with cross-traffic alert, and a new LED-backlit instrument cluster.

New 'Reserve' the flagship of the lineup

Navigator Reserve models add Lincoln Drive Control, 22-inch wheels, Ziricote wood trim, hand-wrapped leather for the instrument panel, armrests, and console, and upgraded leather upholstery.

Lincoln Navigator L models, as before, add 12 inches of wheelbase, as well as nearly 14 inches of total length.

The options list for the Navigator lineup includes a power moonroof, InVision headrest-mounted DVD entertainment system, dark-finished 20-inch alloys, or 22-inch polished aluminum wheels. There are eight exterior hues—all metallic—and three interior themes (Ebony with Brown Swirl Walnut wood, Medium Light Stone with Prussion Burl wood, and Dune with Ziricote wood). The latter is for the Reserve Package only.

DON'T MISS: General Motors' List Of 69 Dirty Words Employees Shouldn't Say

The (good) news on fuel economy is yet to come

The one piece of information still remaining unanswered after today's release is that of fuel economy. Although the outgoing model doesn't do any better than 14 mpg city, 20 highway, the EcoBoost V-6 is expected to add 2 mpg to the city rating and either 2 or 3 mpg to the Navigator's highway rating.

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April Used <b>Vehicle Prices</b> Up 3.7% From Year Ago - Auto Rental News

Posted: 21 May 2014 01:00 AM PDT

Wholesale prices remained at high levels in April, reflecting scarcity in supply and abundance of demand — particularly for late-model, CPO-eligible used vehicles and more specifically for off-rental program and risk units, according to the latest Kontos Kommentary from ADESA Chief Economist Tom Kontos.

Continued growth in off-lease volumes is expected to help correct this late-model supply demand imbalance and cause prices to moderate going forward, says Kontos.

According to ADESA Analytical Services' monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class, wholesale used vehicle prices in April averaged $10,468 — up 0.3% compared to March and up 3.7% relative to April 2013. Midsize and mini SUVs had the strongest month-over-month and year-over-year price increases.

Adding to a string of strong months pricing-wise for diminished quantities of factory units, prices for used vehicles remarketed by manufacturers were up 0.8% month-over-month and up 8.1% year-over-year. Prices for fleet/lease consignors were up 0.5% sequentially and up 3.5% annually, as off-rental risk supplies remain tight.

For dealer consignors, there was a 0.7% average price increase versus March and a 3.2% uptick versus April 2013.

Based on data from CNW Marketing/Research, retail used vehicle sales in April were up 28.2% month-over-month and 4.3% year-over-year. And based on figures from Autodata, sales of certified pre-owned (CPO) vehicles were down 6.5% from March's all-time high but up 9.5% from the prior year.

Wholesale Used Vehicle Price Trends          
           
  Average Prices ($/Unit)     Latest Month Versus:  
  Apr-14 Mar-14 Apr-13 Prior Month Prior Year
           
Total All Vehicles $10,468 $10,435 $10,096 0.3% 3.7%
Total Cars $9,366 $9,336 $9,195 0.3% 1.9%
Compact Car $7,464 $7,414 $7,265 0.7% 2.7%
Midsize Car $8,606 $8,521 $8,512 1.0% 1.1%
Fullsize Car $7,284 $7,569 $7,642 -3.8% -4.7%
Luxury Car $12,558 $12,425 $12,249 1.1% 2.5%
Sporty Car $13,412 $13,235 $13,048 1.3% 2.8%
Total Trucks $10,892 $10,856 $9,935 0.3% 9.6%
Mini Van $7,300 $7,493 $6,959 -2.6% 4.9%
Fullsize Van $10,925 $10,889 $10,089 0.3% 8.3%
Mini SUV $13,261 $12,794 $11,415 3.6% 16.2%
Midsize SUV $8,394 $7,983 $7,377 5.2% 13.8%
Fullsize SUV $10,665 $11,360 $10,973 -6.1% -2.8%
Luxury SUV $19,682 $19,718 $18,379 -0.2% 7.1%
Compact Pickup $7,760 $7,574 $7,579 2.5% 2.4%
Fullsize Pickup $13,403 $13,284 $11,889 0.9% 12.7%
Total Crossovers $13,225 $13,297 $13,498 -0.5% -2.0%
Compact CUV $11,985 $12,109 $11,999 -1.0% -0.1%
Mid/Fullsize CUV $14,475 $14,508 $15,003 -0.2% -3.5%

This Kontos Kommentary analysis is based on nearly six million annual sales transactions from more than 150 of the largest U.S. wholesale auto auctions, including those of ADESA as well as other auction companies. ADESA Analytical Services segregates these transactions to study trends by vehicle model class.
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