August 26, 2008
LORDSTOWN, OH – GM announced it will invest more than $500 million in the U.S. to build the Chevrolet Cruze, an all-new global compact car.
Tags: Chevrolet Cruze, General Motors, global compact car
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By Mike Antich Fuel prices hit record highs. The cost of financing a fleet doubles. Used-vehicle values plummet. Dealers are unable to sell the vehicles they have in inventory. Geopolitically, the U.S. is embroiled in war and the macro-economy teeters on recession. If you think I'm talking about 2008, think again. The year was 1973.
By Mike Antich October was an extremely difficult month to remarket vehicles in the wholesale market as resale prices took a precipitous drop. Wholesale pricing, based on mixed mileage and seasonally adjusted, declined a record 6 percent in October. The lack of credit to both dealers and retail buyers has been the key catalyst contributing to the downturn in the wholesale market. The market forecast is gloomy until the credit gridlock is resolved.
By Mike Antich
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In This Issue: Call to Action: Car Rental Show Recap, EagleRider: We Rent Dreams, Handling the Accident Claim and much more…