November 11, 2012

Auto Briefs

Used-car prices could rise in wake of Sandy; Land Rover sales lift Tata


Cars are shown submerged at the entrance to a parking garage in New York in the aftermath of superstorm Sandy on Oct. 30. (Richard Drew / The Associated Press)

Sandy may cause used-car price hike
Expect used-car prices to rise nationally because of Hurricane Sandy. The storm destroyed about 250,000 used vehicles on the East Coast, and maybe more, according to estimates by the National Automobile Dealers Association. That puts pressure on what already is a tight supply of good-condition, late-model used cars and could push prices for such vehicles up by 0.5 percent to 1.5 percent in December, NADA says. Additionally, Toyota, Chrysler, Nissan, Honda and their dealers plan to scrap more than 15,000 new vehicles damaged by the hurricane. Nissan alone estimates more than 6,000 Nissan and Infiniti cars and trucks are "un-saleable" because of the storm.
Wire reports


The new Land Rover Range Rover. (Land Rover)

Land Rover vehicles boost Tata's profits
India's Tata Motors reported a 10 percent rise in quarterly net profit last week, as the strong global performance of its Jaguar Land Rover arm masked lackluster results from Tata's core brand. Demand for Jaguar Land Rover vehicles was especially strong in China, which now accounts for more than 20 percent of global sales.
The Associated Press


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