Tag: south gate used car dealers

Talkin’ Bout My Generation – FormingWorld

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This article first appeared in the February 2023 Automotive Special Issue of MetalForming magazine (www.metalformingmagazine.com), and is reprinted here with permission granted by the Precision Metalforming Association. You’ve probably seen references to 3rd Gen steels—implying that there are 1st and 2nd Gen steels as well. This article explores their similarities, differences and evolution. The automotive industry drives much of this development, but the benefits offered by newer grades promote applications in other industries. Where it Began: 1st Gen Steels During the era of tail fins and sock hops, automakers had only a handful of sheet-steel grades from which to choose.…
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Peach Cars, a Kenyan used-car marketplace, raises $5M in seed investment

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Kenyan automotive marketplace Peach Cars is announcing its $5 million seed round led by Japan-based The University of Tokyo Edge Capital Partners (UTEC) and other angel investors, including Shintaro Yamada (founder and CEO of Mercari), Peter Kenevan (VP, Head of Japan at PayPal), and Hiroaki Ohta (general partner at Japan’s Waseda University Ventures). The startup, founded by Kaoru Kaganoi and Zachary Petroni in 2020 to democratize car ownership in sub-Saharan Africa, starting with Kenya, will use the money to grow the business, hire more talent and double down on R&D as it expands its tech solutions, according to a statement.…
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What happens if I am really struggling?

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col branding The average interest rate charged by mortgage lenders is now much higher than many homeowners have been used to. So what can those struggling to make repayments do – and how must their mortgage providers help out? How have tracker, variable and fixed mortgages changed? There are different types of mortgages – all of which have become more costly in recent months. Tracker rates rise and fall in line with the benchmark interest rate the Bank of England sets eight times a year Standard variable rates (SVR) change at the discretion of the lender – a decision influenced…
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In Pictures! How Hydroforming Can Replace Sheet Metal Stamping in the Manufacturing Industry

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Introduction In the quest for improved competitiveness, industries are constantly seeking effective methods to reduce costs and time in their manufacturing processes and operations. To achieve this goal, many companies are adopting unconventional and more competitive production methods. Against this backdrop, Tecumseh do Brasil, in collaboration with AutoForm and TechnNova, seeks to conduct a feasibility study to explore the potential of using the hydroforming process instead of conventional stamping to produce hermetic compressor housings. This study will be conducted through numerical simulations, and the aim is to increase the efficiency and competitiveness of the production process. Methodology To ensure that…
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Used car prices remain stubbornly high as sales increase

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Used car sales grew by just over 4 per cent in the first three months of 2023, following three consecutive quarters of falling sales, but there’s little sign yet of high prices easing as more cars change hands. According to the latest figures from the Society of Motor Manufacturers and Traders (SMMT) a total of 1,847,149 cars changed hands in the first quarter of this year, compared to 1,774, 351 in the same period 2022. The SMMT says that growth in the new car market as the post-pandemic production delays unwind has in turn improved availability of secondhand stock. That…
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Used-car dealer US Auto Sales temporarily closes

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The southeastern used-vehicle dealership chain US Auto Sales has closed its 39 locations indefinitely, the company’s website stated Tuesday. “We have temporarily closed our dealerships and are working on a solution to re-open them as soon as possible,” a pop-up on usautosales.info said late Tuesday morning. “But don’t worry, we aren’t going anywhere!” The group, which works with car buyers regardless of credit history, told its customers its consumer auto loan servicing company USASF Servicing remained open for business and car payments. A phone call to US Auto Sales was met with a similarly recorded message: “Unfortunately, we have had…
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CarMax fights used car inflation with digital shopping

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Used-car retailer CarMax is continuing to fight against a consumer market that was destabilized during the pandemic and has yet to reach equilibrium, mirrored by high prices and slower sales activity. The company told investors Tuesday that it would continue to weather the storm and that it has been pushing to increase sales activity with a shift toward offering online help for shopping and lending. The company saw declines across a number of major financial categories for the fiscal year that ended on Feb. 28. It posted net revenue of $29.7 billion, representing a 6.9 percent decrease over the previous…
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Average Used Car Price Fell in February

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The average used car in America sold for $26,068 in February – down 1.7% from January’s price. Both new and used car prices decreased during the month – great news for a driving public who had grown accustomed to soaring prices for all kinds of cars. However, the good news in the used car market may not last. KBB analysts think the market is headed for a price flip, where used car prices rise as new car prices fall. “Used-vehicle sales have been up significantly, causing inventory to fall quickly in recent weeks and leaving dealers with especially tight inventories…
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