Mboweni must cut - union Aug 5, 2009
4 percent in the first quarter, the biggest drop in almost 25 years, while employment fell by 267000 in the same period, and the level of unemployment is still rising," it said. The union confederation said that many of the job losses are in the auto industry, as declining incomes, in South Africa and around the world, are leading to a dramatic drop in the number of people buying new cars, and retrenched workers are paying the biggest price for this. "These statistics strengthen the already... (iAfrica.com)
* Democrat senators seek Republican votes for car rebate Aug 5, 2009
The fuel efficiency gains helped sway Democratic senators Dianne Feinstein and Chuck Schumer, and Republican Susan Collins, who had complained that smaller rebates of US$3,500 were going to people buying new cars that get as little as 6. 4km more per gallon than their trade-ins. (Taipei Times, Taiwan -- Sports)
$2B more needed for 'clunkers' rebates to keep rolling Aug 5, 2009
They complained that smaller rebates of $3,500 were going to people buying new cars that get as little as 4 more miles per gallon than the gas-guzzling clunkers they traded in. But many Republicans remained skeptical, and Democratic leaders were uncertain they could get a favorable vote on a House-passed $2 billion extension by week's end, when the Senate begins a four-week recess. (Honolulu Advertiser)
Democrats seek Republican support for car rebates Aug 4, 2009
The fuel efficiency gains helped sway Democrats Dianne Feinstein of California and Chuck Schumer of New York, and Republican Susan Collins of Maine, who had complained that smaller rebates of 3,500 were going to people buying new cars that get as little as four more miles (6. 4 more kilometers) per gallon than the gas-guzzlers they traded in. (Sierra Vista Herald, AZ)
WHITE HOUSE: 'Clunkers' deals could end by Friday Aug 4, 2009
They complained that smaller rebates of $3,500 were going to people buying new cars that get as little as 4 miles per gallon more than the gas-guzzling clunkers they traded in. But many Republicans remained skeptical, and Democratic leaders were uncertain they could get a favorable vote on a House of Representatives-passed $2 billion extension by week's end, when the Senate begins a four-week recess. (USA Today)
Ball in Senate's court on 'cash for clunker' sales Aug 4, 2009
The fuel efficiency gains helped sway Democrats Dianne Feinstein of California and Chuck Schumer of New York, andRepublican Susan Collins of Maine, who had complained that smaller rebates of $3,500 were going to people buying new cars that get as little as 4 more miles per gallon than the gas-guzzlers they traded in. The three lawmakers said administration officials told them that 120,000 new vehicle sales had been processed through the program and an additional 100,000 to 130,000 were expected... (Atlanta Journal-Constitution -- World)
Clunkers a boon for dealerships Aug 4, 2009
"It wasn't just Cash for Clunkers, but it sparked customer interest and got them interested in buying new cars again," Gray said. Jack Herrin said the Herrin-Gear dealership chain also saw increased activity over the weekend, about half of it involving Cash for Clunkers. (The Clarion-Ledger)
Congress Races to Save "Cash for Clunkers" Aug 3, 2009
Actually dummy, the cash for clunkers program is designed to get people buying NEW cars again. You know - stimulate the economy that you conservatives left in the dumpster like an abandoned baby, and are STILL trying to sabotage. (CBS News)
Donna Dumke of St. Joseph shows off her new 2009 Toyota RAV4 on Wednesday at Signature Automotive Group in Benton Harbor. Dumke recently took advantage of the Cash for Clunkers program and traded in her 1998 Jeep Cherokee. Don Campbell / H-P staff Aug 1, 2009
"In the short term, it should drive down the price of used cars because you've got more people buying new cars," he said. The Associated Press contributed to this report. (The Herald-Palladium)
Click to read:House OKs Extra $2B on "Cash for Clunkers" Aug 1, 2009
First, as a stimulative expense, people are buying new cars. Great for the auto industry, which is really hurting. (CBS News)
Over-stimulated, under-funded Aug 1, 2009
In order to get people buying new cars as well as to promote cars with better fuel economy, the government allocated one billion dollars (787 times less than the stimulus bill) to incentivize buying newer cars that get better gas mileage than the car they are trading in. Buyers were offered up to 4500 in trade on their used clunkers. (Cameron Observer, MO)
More of this story Jul 20, 2009
The general public is apprehensive about buying new cars, he said. Generally during a depression or recession, new car buyers tend to buy used, and used car buyers tend to buy parts. (Lihue Garden Island, HA)
Toyota to Build Hybrid Version of Auris Hatchback in Two Factories in U.K. Jul 18, 2009
Toyota had told him the plan, which offers consumers a 2,000-pound subsidy to trade in old vehicles for new ones, had been received well, used well and is popular with those buying new cars, he said in a British Broadcasting Corp. interview. Mandelsons Defense. (Bloomberg -- UK)
Auto Repair School Revving Up Careers Jul 9, 2009
Recent studies have shown that Americans aren't buying new cars -- they are fixing the cars they already have. Lloyd Howard, 61, enrolled at WyoTech to learn the auto repair trade after his career as a house painter dried up. (KCRA 3, CA)
Fewer dealerships a wrench in new mechanics plans? Jul 5, 2009
But fewer people buying new cars and trucks also means people are counting on their older vehicles to run reliably. That means plenty of business for independent repair shops - and they're hiring. (Fresno Bee -- Business)
Bed Bath & Beyond: A Leading Economic Indicator? Jul 1, 2009
"But they're not doing it recklessly. They're sticking their feet in the water. Consumers aren't running about and buying new cars or $1,000 handbags. They're saying, Let me get a candle. And take a bath.". While Bed Bath d's success bodes well for the state of the economy, some analysts warn against reading too much into the company's results. (Time.com)
Few will qualify for clunker deal Jun 30, 2009
The program applies only to buying new cars. The new car must get at least 22 mpg. (Waterloo Courier, IO)
Hyundai CEO: Gas Tax May Ease Consumer Uncertainty Jun 23, 2009
Consumers remain skittish about buying new cars not just because gas is getting more expensive, but because they have no idea which direction prices will go next, said Hyundai's top U.S. executive, calling for a flexible gas tax designed to keep pump prices stable. "It kind of ends up being paralyzing to people," Krafcik said in an interview Monday with The Associated Press. (ABC News -- Wire)
Mmm, crumble Jun 20, 2009
The chart compares food with transport - which includes buying new cars. It goes back some time, but the story is the same. (BBC News -- UK)
Simmons Stepping Up For GOP Run at Dodd Jun 17, 2009
"People would be spending that money on remodeling their homes, buying new cars," he said in a recent phone interview. "It would generate economic activity." "The stimulus package may provide some support around the edges, but these projects are getting delayed through federal red tape," Mr. Simmons said. (Litchfield County Times, CT)
Easton's budget still includes fire, police layoffs Jun 5, 2009
On the revenue side Colton said excise taxes are expected to drop by $250,000 since people are not buying new cars and older cars excise rates drop each year. He said new growth is projected at a six-year low of $200,000, a $171,000 decrease from last year. (Easton Journal, MA)
Bakery booms Jun 2, 2009
People are treating themselves with small things, rather than buying new cars ... People are "treating themselves with small things, rather than buying new cars," says Richard Ford at the Grocer Magazine. (BBC News -- UK)
AutoZone 3Q Profit Climbs on Brisk Parts Sales May 28, 2009
AutoZone and other parts retailers have benefited from the slowdown in the economy as strapped consumers hold back on buying new cars, opting instead to keep and repair their existing vehicles. New vehicle sales are down 37 percent for the first four months of the year, according to Autodata Corp.. (ABC News -- Wire)
Consumers turn to secondhand stores May 26, 2009
Consumers may not be buying new cars, but they are spending: They're buying used and secondhand goods, repaying debt, and even paying to fix up their homes. Sales at major retailers have been disappointing. (Honolulu Advertiser)
Crazy Kev's half-price IT sale May 25, 2009
Of course you can get the rebate on any major asset, so there will be plenty of businesses buying new cars and other machinery, but you can be sure they'll also spend up big on smartphones, notebooks, desktop PCs and servers. You can also invest the money into upgrading existing assets, so now might be the time to upgrade your network infrastructure and look at something like a VoIP or teleconferencing rollout. (Sydney Morning Herald -- Technology)
Toyota sees losses deepening this year May 9, 2009
But Toyotas business has been hit hard by the U.S. financial crisis and credit crunch, which sent ripple effects around the world, causing people to hold off on buying new cars. The red ink for the full year was worse than Toyotas own forecast for a 350 billion yen net loss, and a stunning reversal from the record profit of 1. (MSNBC -- Business)
Local business survey: Outlook grim for the next six months May 9, 2009
People are repairing their cars more rather than buying new cars. Our shop is absolutely slammed. (Sacramento Business Journal, CA)
Is this the time to increase prices? May 6, 2009
That impact is not expected to be widely felt as firstly, not everyone will be buying new cars and secondly, the margin of increase may not be very significant for those who can afford. But when chicken prices were also raised, a lot more are going to feel the effect. (The Star Online, Malaysia -- Business)
Sen. Gillibrand gets an earful May 5, 2009
People aren t buying new cars right now, Gillibrand said. In that kind of environment, it s tough for any business to survive. (Albany Business Review, NY)
Woman who stole thousands sentenced May 2, 2009
Taking is different from stealing Crime or No Crime wrote on Apr 29, 2009 5:39 PM:" This is no laughing matter...someone mention that she was going through some financial problems but buying new cars and taking trips is not going through financial hardship. When you are about to lose your home, cars and getting a divorce with children involved...then I can say hardship but what Shannon done was pure GREED and she should go to jail. I won't give her a job or even let her work for free because she... (New Iberia, LA)
Coming soon: Lone Star Texas license plates Apr 19, 2009
With fewer Texans buying new cars during the economic downturn, the supply of old plates lasted longer than expected. "Our numbers have been all over the map," said Kim Sue Lia Perkes, a spokeswoman for the Texas Department of Transportation. (Anchorage Daily News)
'Cash for Clunkers' bill backed by Upton (14) Apr 11, 2009
People will come to think of tax breaks for buying new cars as an entitlement, he said. He said the program could become like gun buyback programs. (St. Joseph Herald-Pallidium, MI)
Daimler CEO sees cost cuts in all divisions Apr 8, 2009
(AP Photo/Gero Breloer) --- Activists of Greenpecae protest in Berlin, Wednesday, April 8, 2009 in front of the annual shareholder meeting of Daimler AG. Daimler AG hosts its annual shareholder meeting with investors, analysts and others looking for hints about the company's profits, future business and whether it will scale back more production as consumers postpone buying new cars. Zetsche said the Stuttgart-based company, whose brands include Mercedes-Benz, Smart, Maybach and AMG, was poised... (Fresno Bee -- Business)
FTN: Geithner: Bankruptcy Still Option For GM Apr 6, 2009
April 5, 2009 1:29 PM. Geithner: Bankruptcy Still An Option For GM. (CBS News)
GM CEO: Bankruptcy Looks "More Probable" Apr 1, 2009
If the new car buyers stop buying new cars they are going to hold on to their old cars and fix them rather than trade them in - then there will be a shortage of used cars and prices on them will jump to where you will be then only able to afford to buy a 15 year old car and then maybe no car at all because even those will be out of your price range ... You jolly well better be concerned if the economy tanks and those nice people stop buying new cars and taking the depreciation hit for you. (CBS News)
Feds will guarantee GM, Chrysler new-car warranties Apr 1, 2009
DETROIT -- Along with harsher demands, President Barack Obama offered support Monday for General Motors Corp. and Chrysler, hoping to soothe consumer fears about buying new cars and trucks from automakers teetering on the brink of bankruptcy. The main source of support is the Warranty Commitment Program, which has been designed by the Treasury Department to ensure that customers buying a new vehicle will have a warranty even if GM or Chrysler slides into bankruptcy and is forced to restructure... (OregonLive, OR -- Business)
Home-building slows to crawl around region Mar 29, 2009
If people who are contractors or builders are out of work, they re not buying new cars or TVs or vacations, he said. It s definitely a ripple effect. (Utica NY Obserer, NY)
All of us must spend more wisely Mar 27, 2009
A recent newspaper article mentioned the loss of tax revenue some counties were facing because people weren't buying new cars, and taxes go down as cars age. Another article mentioned how mechanics were seeing an increase in business. (The Augusta Chronicle)
New Honda takes on the Prius Mar 21, 2009
In the short term, its a very difficult sell, said Christopher Richter, a Tokyo-based auto analyst at CLSA. Weve entered into a very deep recession, and consumers arent keen on buying new cars. Fuel prices have plunged, with fuel so cheap people dont care much about it. (International Herald Tribune -- Business)
US auto suppliers to get $5bn aid Mar 20, 2009
US consumer have cut back on buying new cars. Car parts suppliers in the United States are to receive $5bn (3. (BBC News -- Americas)
MARTA to lawmakers: May cut 'entire' rail lines Mar 19, 2009
The rebuild saved $400+ million dollars over buying new cars. That s a pretty good business decision in my book. (Atlanta Journal-Constitution -- Metro)
AUTO: Amid recession, some parts stores say business is up modestly Mar 15, 2009
"They're not buying new cars," White said. "Some things have to be fixed.". (North County Times)
The So-Called 08 Change Election Drop Remittances Mar 10, 2009
Not advancing their new proposals of spending millions of taxpayers dollars for buying new cars for the NDC Ministers Chief Executives and duty Ministers across the nation and stop wasting unnecessary revenues the nation can manage inflation. Some section of the outside Ghanaians community believes the so-called change government will not benefit the nation but their own self- aggrandizing political interest. (Ghana Web, Ghana)
Wall St. Falters Amid Investor Uncertainty Mar 10, 2009
Stocks Follow Up Dismal Week With More Losses As Pessimism Grows. NEW YORK, March 9, 2009. (CBS News)
Ford bucks Detroit's trend with 3 new-car debuts Mar 3, 2009
Ford Motor is bucking the trend this month, however, gambling that its new Fusion hybrid sedan can interest some of the dwindling number of American consumers still interested in buying new cars. Ford also hopes its Fusion hybrid will help separate the automaker in the public's mind from its crosstown rivals General Motors and Chrysler, which both need more U.S. government loans to avoid bankruptcy. (International Herald Tribune -- Business)
The looming reality of economy Mar 2, 2009
5 per cent. The main victim has been the car industry, with 25 per cent fewer households now buying new cars, while business has cut spending on transport equipment by almost half. In Australia, a Reuters survey found economists are divided over what Wednesday's numbers will show. (The Age, Australia -- Business)
CHAT TRANSCRIPT: Healey answers your car questions Feb 28, 2009
I've been buying new cars for 40 years and absolutely hate to go into a Big 3 dealership to purchase a vehicle, let alone return later for service. I think Saturn dealerships seem to be the exception, however, but with their potential demise, what can the Big 3 learn about making the purchase of their products enjoyable and provide satisfying long term ownership. (USA Today -- Money)
Letters to the editor Feb 26, 2009
We are not buying new cars this go-round, we are laying off our gardener and housekeeper, and we are forgoing vacations this year. We are also not eating out as often and spending probably half as much money as we used to. (Sacramento Bee -- Opinion)
Economy drives increase in car repairs vs. replacements Feb 22, 2009
When people aren t buying new cars, they re maintaining old ones, said Richard Beirne, president of. La Crosse-based United Auto Supply. (La Crosse Tribune, WI)
Wis. in line for $3.7B in federal stimulus Feb 21, 2009
The stimulus package includes a tax credit for people buying new cars, light-duty trucks and motorcycles that's expected to give a spark to Milwaukee motorcycle manufacturer , which recently announced a round of layoffs and plant closures. It is hoped that the tax credits will attract more motorcycle buyers. (Milwaukee Business Journal, WI)
Michael Eliasohn / H-P Correspondent Jon Snyder, an auto technician at Pro Muffler & Brake Shop in Benton Township, replaces the front wheel bearings on a minivan. Owner Mark Schuck said many customers are delaying major repairs because of the poor economy. Feb 18, 2009
Published: Monday, February 16, 2009 1:09 PM EST Fewer people are buying new cars and trucks, which should mean more people are getting their current vehicles fixed to keep them running. But that's not necessarily so, owners of some area repair shops say. (St. Joseph Herald-Pallidium, MI)
Stimulus plan not very stimulating Feb 17, 2009
So our proposed stimulus gives incentives for people to go further into debt by buying new cars, campers, homes. This is only going to delay the fall. (Waterloo-Cedar Falls Courier)
U.S. automakers trim back options Feb 17, 2009
DETROIT - When American consumers start buying new cars again, they'll likely find fewer combinations of moon roofs, seat upholstery and stereo systems to choose from. As with better fuel economy, it's a case of U.S. automakers taking a cue from their Japanese counterparts. (MSNBC -- Business)
Recovery plan seeks big, fast economic jolt Feb 15, 2009
The stimulus plan will mean thousands of dollars in tax breaks for first-time home buyers and people buying new cars. Lower- and middle-income taxpayers will get an extra $13 a week in their paychecks this year, and about $8 a week next year. (AZCentral -- News)
Valley land in free fall value Feb 15, 2009
"There are probably 25 guys out there who built five to 10 houses per year who employed people. They don't get rich, but they were buying new cars and putting their kids through college.". When the the market was crazy in 2004 and 2005, those builders like Garner could have made some money building six or eight houses on that 2-acre parcel. (Fresno Bee)
Culpeper property values drop about 11 percent Culpeper County to mail out reassessment notices this week that will show real estate values dropping by 11 percent Feb 15, 2009
Culpeper's personal-property tax revenues are expected to drop by as much as 15 percent next year, in part because fewer people are buying new cars. Donnie Johnston:Email. (Fredericksburg.com, VA)
Economic deal could spark Harley stimulus Feb 14, 2009
The stimulus package includes an expansion of a tax credit for people buying new cars and light-duty trucks to also include buyers of motorcycles. The change occurred as a result of an effort by Wisconsin Sens. (Milwaukee Business Journal, WI)
DIY'ers come out in force Feb 13, 2009
People aren t buying new cars. They re fixing their old ones, trying to save money where they can, he said. (Mason City Globe-Gazette, IO)
GM chief Rick Wagoner stays sunny despite bad economy Feb 12, 2009
They could roar back as profit machines if, as expected, people start buying new cars and trucks again within a couple of years. "You're going to see really huge profitability in the industry like we haven't seen since World War II," Cole predicts. (USA Today -- Autos)
Obama, Senate Republicans bicker over stimulus plan Feb 10, 2009
Also included is a tax credit of up to $15,000 for homebuyers and smaller breaks for people buying new cars. Much of the new spending would be for victims of the recession, in the form of extending unemployment insurance through the end of the year and increasing benefits by $25 a week, free or subsidized health care, and increased food stamp payments. (Casa Grande Valley Newspapers, AZ)
Deal announced on emergency stimulus plan Feb 8, 2009
Also included are breaks for homebuyers and people buying new cars. Much of the new spending would be for victims of the recession, in the form of unemployment compensation, health care and food stamps. (Ionia Sentinel-Standard, MI)
Economy helping accelerate business at some service shops Feb 8, 2009
"We're really busy, but we don't see any effect of people putting off buying new cars," said Michael Blalock, an estimator and customer service representative for Athens Paint Shop. "Most of the cars we work on are un-drivable or in need of major repairs. This is a busy time of year for us anyway, but there's been no real spike (in business) for us. We might actually be seeing less of it.". (Athens Banner-Herald)
Deal Reached On Stimulus - But No Vote Yet Feb 7, 2009
Also included are breaks for homebuyers and people buying new cars. Republican critics complained that whatever the cost, billions were ticketed for programs that would not create jobs. (CBS News)
