OK, 489,269 New Cars Were Sold, Now What?
Now what?
What’s a dealer to do? Now that the program has all but ended, many dealers selling small, energy efficient and environmentally efficacious vehicles have no cars on their lots to — hmm, that is the question, isn’t it?
With the end of free money is there still a pent-up demand for new cars of any size going to continue?
Will the IRS tax those who got the $3,500 or $4,500 special payment to buy a new car, it was income?
Will the car gift fairy return and wave the magic Congressional wand for another spate of free money?
Will there be a return of the giant incentives from manufacturers?
What about another round of zero, zero, zero programs?
Who has new, 2010 cars in production that might capture American’s interest in a new car soon?
Or, has the CARS program, while temporarily important, sated the appetite for new cars of those few American’s who need, want and can afford a new vehicle without the bonus of a free money incentive in an economy that has barely started to respond from its semi-comatose state with trillions in financial aid?
And speaking of finances, when will the government kick the golden goose into action to pay dealers who now know what it means to have a severe case of negative cash flow. Could the good news affect of the Cash for Clunkers be diminished by slow pay?
No answers, just questions, lots and lots of questions.
Pebble Beach Concours d’Elegance: Some Old Cars Have Really Big Prices
No government funding, financing or free-bee’s were need at the recently concluded antique-exotic-autos auctions galas on the Monterey Peninsula this year as upwards of $125 million worth of vehicles were sold at auction I was told by McKeel Hagerty, CEO of Hagerty Insurance and his colleague Dave Kinney, Publisher of Hagerty’s Cars That Matter Price Guides. This amount was down slightly from published figures of the 2008 auctions.
The auction results of the individual companies were equally impressive: Bonhams $13.2 million, Gooding $50.8 Million , Mecum $13.9 million and RM $35.6 million and Russo $4.2 million sold a total estimated at $125 million in vehicles, which was down a tad from last year. Here’s the Top Ten List provided by Hagerty’s Cars That Matter. No information was provided on the mpg or cost of insurance.
- 1965 Shelby Daytona Coupe, $7,685,000 (Mecum)
- 1962 Ferrari 250 GT SWB Cal Spider, $5,115,000 (Gooding)
- 1933 Alfa Romeo 8C 2300 DHC $4,180,000 (Gooding)
- 1935 Duesenberg Model SJ Roadster, $3,300,000 (Gooding)
- 1958 Ferrari 250 GT LWB Cal Spider, $2,750,000 (Gooding)
- 1952 Jaguar C-Type, $2,530,000 (RM)
- 1955 Aston Martin DB3S, $1,980,000 (RM)
- 1953 Aston Martin DB 2/4 DHC, $1,650,000 (Gooding)
- 1933 Duesenberg Model J Torpedo Conv. Victoria , $1,437,000 (Bonhams)
- 1935 Duesenberg Model SJ Disappearing top, $1,430,000 (RM)
Buick’s Ballistic Blunder!
Oops! Buick will not launch an "all-new" small crossover in 2010 that was just a rebadged Saturn.
First, there was the media release of perfumed, almost poetic prose replete with anticipatory flourish and implied predictions of fame, “General Motors’ plug-in hybrid technology will be introduced in a new Buick crossover vehicle in 2011, Tom Stephens, GM vice chairman of product development, announced today during the Management Briefing Seminars.”
Ten days later, there was no release, just an embarrassing blog from the above named GM exec, that stated after “listening to feedback from customers, employees, dealers, media and just about anyone else with an opinion” the company decided not to pursue further work because the proposed vehicle “lacked the premium characteristics they expected from Buick.”
Why not? It was just going to be a new label for the Saturn Vue. (I thought that was being sold?)
And since when is Buick a crown jewel with premium characteristics? To me this a return to days of yore, arrogance, hubris and excess when the old team, which then wore pin stripes and ties, but now wears blazers, button-downs and khakis to signify and communicate their renaissance? Or is it a resurgence? Perhaps a revitalization? Would repudiate be a better idea? How about redacting?
The putrid odor of embarrassment was palpable, but it was the decomposing odor of “same o same o” that came through the screen on my computer. Since when is talking to consumers to consumers a new and brilliant idea?
There is some good news: We will not have to watch another terrible Buick commercial.
New Jersey’s Highway Gallery of Art
The state of New Jersey is famous for many things – the first brewery in America, the Statue of Liberty and Ellis Island are both in NJ, there are more diners there than any other state and more shopping malls within a 25 mile radius than anywhere. It’s the birthplace of famous people: Frank Sinatra, Abbott & Costello, Connie Francis, Jack Nicholson, Bruce Springsteen, Meryl Streep, Tony Soprano and of course, TDB’s own Paul Eisenstein, who is somewhat less famous.
There are some bucolic scenes away from the hustle and bustle of commuter cars, busses and trains on the highways, turnpikes and byways, but they’re seldom seen at 75 mph and not many venture beyond the metro areas or to da-shore.
To improve the visitors and residents vistas the Palisades Insurance Company (whose motto is, the nice car insurance company) recently ran a photo contest, winners pix would be made into billboards and posted along the state’s road system. To see the winners just click here.
It’s the Garden State’s contribution to art and culture … in New Jersey.