November 4, 2013
www.usedcarnews.com
ON THE WEB: Enterprise Car Sales Airs First TV Spots
1-800-554-1026
CR Ranks Toyota’s Brands Most Reliable
Enterprise Car Sales, a service of Enterprise Rent-A-Car, has debuted its first-ever television commercial as part of a broader campaign highlighting the Enterprise brand as a total transportation solution. The commercial focuses on the ease of a negotiation-free used car-buying experience, a strategy Enterprise pioneered in 1962. A preview of the spot is available on the Enterprise YouTube channel.
Consumers Start to Default on Loans
Data through September, released by S&P Dow Jones Indices and Experian for the S&P/ Experian Consumer Credit Default Indices, showed an overall increase in national default rates during the month. The national composite was 1.38 percent in September, slightly up from 1.34 percent posted in August. The auto loan default rate reported 1.15 percent in September, up from a 1.11 percent previous month level.
LEADER OF THE PACK: The redesigned Suburu Forester tops the annual Consumer Reports list of most reliable vehicles. At the other end of the spectrum, Ford saw its reliability scores plummet. By Ed Fitzgerald
GMC made a promising leap into the Top 10 of Consumer Reports’ annual reliability survey, as Ford posted its second straight poor showing. The magazine’s 2013 rankings were released Oct. 28 to the Automotive Press
Association in Detroit. The survey results managed to put a small dent in the Japanese automakers’ usual dominance, with GMC, Audi and Volvo all taking Top 10 spots. However, the top three spots went to Lexus, Toyota and Acura, respectively. The top predicted reli-
ability score went to the redesigned 2014 Suburu Forester. Jake Fisher, an engineer and tester for Consumer Reports, reminded the journalists in Detroit how the magazine conducts its survey. The data is collected from CR subscribers’ experi-
ences with over 1.1 million vehicles. Obviously CR subscribers might be more critical. Fisher said drivers’ various complaints are viewed accordingly. “It’s not all about ‘we don’t like the cup holders,’’’ he said. Continued on page 12
Rush - Dated Material
Sonic Plans National Chain of Used Car Stores Sonic Automotive seeks to succeed where others have failed – launching a nationwide used-car chain. While CarMax Inc. has thrived in recent years, AutoNation shuttered all its used-car superstores at the start of the 2000s. Attempts by Asbury and Lithia both ended almost before they began. Even CarMax overcame a shaky start. “They have a very high fence to climb,” said George Hoffer, an economics professor at the University of Richmond. Still, Sonic executives are confident their plan will succeed. “We have been preparing for this moment over the last
several years and are excited to be in a position to share our plans,” said Scott Smith, Sonic’s president and co-founder. “In particular, we are confident that our new model will not only enhance the value of the business for our stockholders and associates, but it will deliver an experience not yet seen in retail automotive.” The first target market is planned for Denver and will open in late 2014. Hoffer said while the fate of Sonic’s efforts remain yet to be seen, it should mean increased competition for CarMax. “CarMax has been fortunate to have an open highway for so long,” he said.
Imagine controlling your used car inventory from anywhere. With the SmartAuction® mobile app, you can. ©2013 Ally Financial. All rights reserved. SmartAuction is a registered service mark of Ally Financial Inc.
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