CARFCO

Ahhhh, summer! Thoughts of sunny days and long weekends inspire road trips for many of us. Whether it’s cranking up the music or putting the top down, owning a sporty new car during the summer can be a wonderful way to spend your free time. If you are looking for ways to save a little money this summer on vehicle costs, why not consider these suggestions.

Putting the petal to the metal, as speed enthusiasts would describe it, will cost you a fortune in fuel. The constant acceleration only eats away at your fuel consumption. Driving this way inner city is also hard on gas with the constant stopping and starting. Every vehicle has its optimum spot for speed and fuel efficiency and you can guarantee it won’t be found at speeds of 120 km / hour.

Filling up with premium gas is also not the wisest way to save money on fuel. If your car is okayed to run on regular gasoline, then don’t be filling up with premium fuel when it’s not necessary. If you’re not sure what to add to the tank, take a few minutes to refer to your owner’s manual. You can most likely run fine on the cheaper, regular fuel.

Even though it may be possible to get a reasonable deal on an oil change through your auto dealer, you are more likely to get a better price off the lot. Calling around to quick lube shops will offer you price comparisons. If you’re still not sure that your car needs that high-end synthetic oil, take a few minutes to glance at your owner’s manual. It will specify the best oil type for your vehicle and could save you a bunch of money.

We’ve all seen this. A car or truck driving along with a mostly-flat tire or one that is so wobbly you need to steer clear. A tire that is almost deflated is not very safe. Not checking your tire pressure can cause your vehicle to wear out the treads a lot quicker, increasing the chance of a flat as well as burn a lot of extra fuel. Check your tire pressure on a regular basis. It will pay off in the long run.

We all know the least cost-effective way to own a vehicle is to buy it new. As soon as you move it off the lot, you have already lost 20 per cent of its value. Being as cars depreciate quickly in value, the first year alone can cost you thousands just for buying it new. The best way to avoid this quick and steep depreciation is to buy used. There are many great deals to be had when it comes to buying a new car used.

Overall, it has been a great season for automakers and auto dealers alike as many are feeling the relief of a great comeback from the lows of the recession. If you are thinking of a new car or truck and are wondering what’s making the list of top vehicles, here is a little help.

Remaining at the top of Canada’s list, yet again is the Ford F-150. It has been deemed as Canada’s best-selling truck for quite awhile now and that is not expected to change any time soon. With more than 27,500 sold as of June, the basic Ford F-150 can be had for a very reasonable $24, 599.

Chevrolet has done well with its top selling Chevrolet Silverado / GM Sierra with more than 24,600 sold to the middle of the year. In addition to their best sellers, some General Motor’s models are currently offering up to $8,000 in cash credits.

Dodge still offers Canada’s favourite family vehicle with their Dodge Caravan. This vehicle offers a lot of interior room as well as $3,500 of a lower base price compared to the larger Grand Caravan’s MSRP. They have sold 18,518 of these units as of June and are hoping to see its popularity continue well into the future.

As of June, 17,198 Mazda 3 Mazdaspeeds have been sold, and with a 60-day interest free offer from Mazda, it makes an affordable car even more affordable at $32.995. You can chose from their 263 horsepower or the 148 horsepower model.

The Honda Civic sees themselves in fifth place with 17,095 of their cars sold as of June. Their 0.9 per cent financing or 2.5 per cent leasing rates also made their Checkered Flag Event very popular.

Dodge is offering $8.250 in ‘consumer cash’ for each of the Dodge Rams it sells making it a number six seller in Canada with 16,319 vehicles out the door. The Toyota Corolla follows closely with 13,059 of their cars being sold while Ford holds eighth place selling 11,391 of their Escape models starting at $24,499.

Hyundai takes the cake offering a very attractive 60-months of zero per cent financing on their Elantra sedans which start at under $12,000 and their Elantra Touring model, which starts at $21,899.

Whether you’re in the market for new or used, getting a new vehicle can be very exciting. Doing some research to be sure you are choosing the right make and model is essential and informing yourself of any deals that are available to car buyers is just smart.

Whether you’re a man seeking a car that can be a potential chick-magnet or if you’re a woman looking for something cute, sporty and reliable, there has officially been a list put together of the top cars women love to drive. If you’re interested, check out the list below, and men, just a note, there are no trucks on the list.

Many women seem to have love affairs with older model classics. Women also tend to choose their potential new rides with the practical factor, whereas men tend to choose from the heart. For women however, cars like the Austin / Morris Mini, Mercedes-Benz SL-Class, Rolls-Royce Silver Cloud (not that many of you men will be rushing out to purchase one of these as a chick-magnet, but it’s on the list), and the older model BMW’s, specifically the 1971 3.0 CS and the 1968 to 1976 2002 model Beamers. The latter year will definitely cost a hefty lot for replacement parts if need be as these are considered classics and require a lot of upkeep.

Also making the list of women’s favourite cars are a few of the newer models such as the Ford Mustang Convertible, the Mitsubishi Eclipse Spyder and the Volvo S40. While the Mitsubishi Eclipse was the most popular car amongst women in 2005, the safer Volvo S40 took over that position in 2007.

A few other sporty cars that topped the ladies’ list were the Porche 911 GT3 R and the Bentley Continental GTC along with a few of the Volkswagen models. The New Beetle, which became convertible in 2007, had the highest percentage of women divers according to J.D. Power. A whopping 56.1 per cent of New Beetles are registered to women. Sixty-one per cent of Volkswagen Tiguans are also owned by women.

Ironically the Citroen 2CV the French-made vehicle also made the list, most likely for practicality reasons. Whether you are a man or a woman, doing the proper research when buying a used car is essential to avoid purchasing a lemon. Looking at reliability ratings and consumer reports are a good place to start. Then, once you have narrowed down make and model and are looking at a particular vehicle, being sure that there are no outstanding liens against the car and that the car is accident-free is crucial to ensuring you are getting a great used car and not a nightmare for your pocketbook.

If you are considering a new car purchase, there are a few bartering secrets that you should know to get the best deal you can.

When looking at the sticker price on a car, the MSRP or manufacturer’s suggested retail price, is the price the dealer would like for the car. It’s not necessarily the price they expect to get for it. If you can get a few hundred dollars off that price, you probably have gotten a deal. The dealer never pays the MSRP. They have special dealer cost prices that they are charged. If you’re curious about what a dealer actually pays for a car you’re interested in, you can find out by getting a membership at carcostcanada.com or you can try asking the dealer directly (if they’re honest enough to provide you with that information).

Dealers make their money from extended warranties, seat protectors, rust proofing and paint and especially from financing, not from the price of the car. If you have a pushy dealer who insists on any of these extras, now you know why.

Dealers also have what is called a hold-back incentive. This is an amount of money paid by the manufacturer to the dealer for overhead to keep the car. Of course, the longer the car remains in the window, the less the hold-back incentive. This is designed to motivate dealers to sell cars fast. If you are able to find out how long that particular vehicle has been sitting on the lot, you may be able to use this leverage to get a better deal.

When shopping for a car, it’s good to keep in mind that popular vehicles, or vehicles that are in high demand, will cost you more. Unless you’re buying used, you may want to opt out of the extended warranty as well. It’s a fact that nowadays with so many lease options, most people do not own their cars as long as the warranties last. Major parts such as the driveline, engine and transmission are all covered by the manufacturer, usually for between five and eight years. As well, most warranties have too many exceptions, exclusions and deductibles.

Remember when buying a car, it’s the sales person’s job to get you to purchase the vehicle for the MSRP. Do your research on the vehicle beforehand to find out if there are any special incentives, discounts, or rebates that the dealer has not been completely upfront about. Read the “Auto” section of the newspaper and search online for any deals that might bring down the price of your new vehicle. The few hours of research you do will be well worth it.

Ford has surprised Wall Street after reporting a $2.6 billion profit in the second-quarter of the year, earning shareholders 61 cents per share, which beats the forecast 40 cents.  Ford’s American sales climbed 28 per cent since the beginning of the year, almost doubling that of its competitors. However, Ford has forecast a decline in sales to go hand-in-hand with the predicted weak economy as well as the rising cost of aluminium, along with its seasonal plant closures.

Ford President and Chief Executive Officer Alan Mulally,said in a conference call with analysts and media, “Overall, our performance this year gives us great confidence going forward.”

Ford is convinced that the company is making more money due to the global auto-structure where vehicles from around the world share parts. Even though sales in western Europe were down, sales were up significantly in other parts of the world such as Brazil, India, the United States and China.

Mulally also notes, “The global business environment remains challenging, but we expect global growth to continue.” U.S. sales remain low due to economic uncertainty, which is why Ford has lowered its total forecast sales for the year by half a million cars and trucks. They are predicting sales of 11.5 to 12 million for the year. However, shares have remained in good standing, getting a recent boost of 41 cents, up to $12.50 during the early morning of July 23, from fast-paced sales of their F-150 pickup truck and the Ford Fusion Sedan.

Ford has closed the second quarter owning 17.2 per cent of the U.S. market, which is an increase from 16.9 per cent they were at during the end of the first quarter. The second quarter also saw them pay of $7 billion in debt and earn $2.6 billion, increasing shares by 61 cents each. Ford continues to work hard to pay down its debt.

Some automakers are struggling to make a comeback and understand that the slow recovery of the economy plays a large factor in their success, however, as a consumer, it can be a difficult decision whether to buy new or fix the used vehicle you currently drive. If you car or truck is in need of repairs and it is costing a little more than you counted on, perhaps a car repair loan can help. When traditional banks are not an option, private lenders can be. Many cater specifically to clients who have bad credit and even no credit, and offer many types of loans, including car repair loans.

As consumer demands for electric cars increase, so will jobs in green technology. The last five years have seen the auto industry handing out more pink slips than applications and even though it is agreed that the auto industry will most likely never return to its pre-recession employee numbers, the increasing popularity of environmentally friendly vehicles will see some jobs return.

According to information from Des Rosiers Automotive Consultants, in 2001, it there were 199,218 Canadians working in the auto industry. In 2009, a 7 per cent drop to 133,375 was noted and in April of 2010, there were an estimated 123,829 Canadians employed by the industry.

The Electrovaya Mississauga, Ontario plant is currently hiring engineers to help produce the lithium-ion batteries that run these green, eco-machines. Gitanjali DasGupta, manager of Electrovaya’s electric vehicle division says, “Every auto company is looking to green their fleets, to electrify their fleets. (The industry) is truly making a very structural shift. Electrovaya is an enabler of that and one of the key beneficiaries of that.”

Due to high expectations in the demand for green cars, Linamar Corp, which is Canada’s second largest manufacturer of auto parts in Guelph, intends to hire as many as 1,300 people by the end of 2011. Linda Hasenfratz noted in a recent interview that these numbers are the result of the consumer’s demand for the manufacturing of solar energy parts as well as to build more fuel-efficient cars.

Carlos Gomes, automotive economist at Scotiabank feels, “The next generation of jobs in the Canadian auto industry won’t come from the big automakers’ assembly plants, but from suppliers that develop innovative new technologies. I think that is one of the key trends going forward, especially because we now have legislation in place that requires the automakers to improve their overall fuel efficiency,” Gomes said.

The employment boost from the demand in green technologies won’t be felt until around 2015. “Certainly there will be an advantage from green (technology), but that’s not going to be instantaneous. We don’t expect to see massive impacts from green for some time,” says Bill Pochiluk, president of industry research firm AutomotiveCompass.

In April 2010, the Canadian and U.S. governments made a joint announcement regarding the new auto standards which include an increase of 40 per cent on fuel-efficiency and a 25 per cent reduction of greenhouse emissions within the next six years. These new compliances will put a strain on older cars that are still on the road, but putting in some environmentally friendly repairs in an attempt to upkeep is cheaper than altogether replacing your car.

Where would people be without their cars? Environment Canada has begun the promotion of its green cars, which are to be the majority of the selection of new cars, by 2016.

The government-mandated green cars will be about 30 per cent more fuel-efficient while Environment Canada claims they will cost consumers 5 per cent more to purchase at an average $25,000 vehicle. They also add that what a consumer loses at the dealership, they will gain at the pump within a year or two, depending of course, on the price of fuel.

Auto analyst Dennis DesRosiers, of DesRosiers Automotive Consultants, says “the government estimates do not factor in the cost of any subsidies offered to buyers of green vehicles. On top of that, the technologies required meet CAFE (corporate average fuel economy) come with big price tags. Direct fuel injection, lightweight materials, advanced transmissions, cylinder deactivation systems, gas engines that generate combustion like diesels and all the rest cost more than $1,200 per car to develop and produce for the marketplace.

Many auto experts wonder who is going to pay for all this infrastructure of an electric vehicle fleet and if the government has really included all the costs of producing advanced ‘green’ technologies into cars. Technologies such as plug-in hybrids, pure electric cars, gasoline and diesel-electric hybrids as well as cars that run ultra-clean diesel are some of the fleet-wide fuel economy cars we can expect.

Over the next six years, Canada and the United States are expected to set the new fuel economy standards for the new vehicles. By 2016, the new stanadars will see consumers driving vehicles that get a combined average of 6.6 liters / 100 km or 35.5 miles to the US gallon.

“Let me say what everyone refuses to acknowledge: These standards are impossible to meet,” notes DesRosiers. Think about this: In Canada, we have witnessed a 1.0 litre per 100 km improvement in the last 25 years, moving from 11 litres per 100 km to 10 litres per 100 km. Roughly 10 per cent. And this was an era of unprecedented technological improvement. Does anyone truly believe that we can now move to below 7.0 litres per 100 km in the next six years? I fully understand the potential for hybrids, electrics and other advanced power trains, but this level of improvement is just not achievable.”

FUEL EFFICIENCY OF CANADIAN CARS BY SEGMENT (LITRES/100 KM) (1982 / 2007)
Subcompact
6.65 / 6.75

Compact
7.79 / 7.65

Intermediate
10.93 / 9.11

Sport
10.66 / 9.63

Luxury
10.95 / 9.88

FUEL EFFICIENCY OF CANADIAN LIGHT TRUCKS BY SEGMENT (LITRES/100 KM) (1982 / 2007)
Small
11.02 / 10.07

SUV
13.44 / 11.93

Intermediate SUV
12.99 / 13.78

Large SUV
16.39 (year 2000) / 12.30

Luxury SUV
12.14 / 11.95
Large Pickup

[Source: DesRosiers Automotive Consultants]

It is certain that the cost of vehicles will only increase as the years pass, and buying more fuel efficient cars will cost more as well.

With domestic automakers like Chevrolet offering a $3,000 cash-back incentive on their Chevy Cobalt coup and Toyota’s zero per cent financing offer, now may seem like a great time to buy a car. However, considering the constant rise in gas prices and Toyota’s recent nine million-car recall, maybe now is not a good time to buy. For those of you who are still considering a purchase and are on your way to the dealership, there are a few things you should know before making any decisions.

First of all, many of these cash-back incentives only apply if you are using dealer financing. You should do as much financial research as possible before accepting their financing offer. Also, as a consumer, you stand a better chance of getting a deal at the end of the month instead of at the beginning.

Here are a few words of professional advice from established companies to help consumers avoid car-buying mistakes. The most common error for people buying a vehicle is buying one that they think they may eventually need instead of buying a car that is suitable for their current needs. An example is a couple that thinks they will have children someday, so they buy a large SUV now. Another example of an inappropriate purchase is someone who wants to own a boat one day and today, they buy a new full-sized pickup truck.

Not only are these people spending a lot more money on fuel than they need to, they have purchased vehicles that simply do not serve their current needs. Instead, they could be driving smaller, more economic vehicles. It’s easy enough to upgrade when the time is right.

Another very common car-buying mistake is to buy at the beginning of the year when the new models are released. During the first few months of the year, dealers have all year to meet sales goals and clear their inventory, so a deal is less likely. However, at the end of the year, dealers want to clear out the older, less desirable models and make room for new inventory.

It also pays to know the market. Using resources such as Kelley Blue Book, Cars.com, AutoTrader and NADA Guides can prove to be invaluable. They can provide a working knowledge of the street value of the car you are considering. This will help arm you with additional information on what you can afford and how much you should be paying when you do find the car you want. It also helps to have a list of what you’re looking for in a new car to avoiding being vulnerable and falling for an impulse purchase.

Hyundai announced it sold 12,620 vehicles in May, which is up 12.6 percent from the previous year. This increase in sales saw Hyundai outsell Honda by a little more than 1,000 units, placing them in the top-five position for the first time in the auto-maker’s history, seeing them claim 8.6 per cent of the Canadian market. This also marked Hyundai’s second consecutive month of record-breaking sales. Steve Kelleher, president and CEO of Hyundai Canada says, “Hyundai products are clearly resonating with Canadian customers”.

Aside from Hyundai, Canadian vehicle sales laid quite low during the month of May. Overall, sales increased by 0.2 percent, showing 154,285 total units being sold across the country.

Toyota Canada, the maker of the luxurious Lexus brand, reported a loss of 16.1 percent in sales, selling only 17,879 vehicles in May. The Japanese auto maker has done well in Canada despite its massive global recall on millions of its vehicles with issues ranging from instability in the Lexus sport utility vehicles to sticky accelerator pedals in other brands of its cars.

Ford saw growth in May due in most part to the strong sales of its Ford Edge, Lincoln MKX crossover and Ford Taurus sedan while Ford truck sales were also up 29 percent. The sales of 26,110 units added to a strong 19.4 percent increase, allowing them to claim a top spot with a whopping 16 percent of the market.

Chrysler also saw a large gain with sales climbing an incredibly steep 53.5 percent, selling 20,861 autos in May. This is a great leap forward from one year ago when Chrysler saw their sales drop by 50 percent. Chrysler has been quoted as saying “the strength of a solid product offering and soaring confidence in the company”, combined with new selling incentives for its employees are some of the key reasons for such growth. Sales of their minivans were almost doubled, selling 5,773 while sales of their Jeep brand rose sharply by 74 percent and car sales saw a climb of 57 percent.

GM’s sales were down 17.6 percent throughout Canada as they discontinued a few of their brands during the company’s restructuring last year. However, the company did well with a few of their main brand, Chevrolet, GMC, Cadillac and Buick, seeing these particular sales up 15.4 percent, showing total sales of 25,995 for May.

A few other automakers such as Nissan sold 7,487, down 2.4 percent, Mercedes Benz sales rose 22.2 percent with the sale of 2,865 cars, while BMW’s sales fell 11.8 percent with the sale of only 2,361 autos.

Picture it, Wiesmann MF5, Koenigsegg, a Rolls-Royce Phantom, Bentley Continental, the SSC Ultimate Aero, Lamborghinis, the Gumpert Apollo Sport, the car that set the production car record at the Nurburgring, KTM X-Bow, and many, many more. Not only are these amazing super cars lined up and ready for show, they’re lined up and ready to be driven.

Considered the world’s greatest live action car show, and definitely unlike your usual car show, these automobiles are not just sitting pretty atop a display box as a show piece with the only chance of hearing their powerful engines being while you’re on your way home with one. This is the ultimate in what one would consider a playboy’s car collection. The Top Marques car companies are ready to put into action what these power toys can really do for car enthusiasts, collectors and would-be buyers.

Due to the tight confines of Monaco roadways and the inability of organizers to shut down Principality, these hot cars are instead chauffeur driven laps of luxury through the legendary Grand Prix circuit. The test drives are limited to quick spurts of acceleration as they cruise through the legendary tunnel, Casino Square and the Rascasse hairpin.

A few of the additional cars ready for a test drive are the GTA Spano hypercar, produced by the Spanish manufacturer and unleashed with its surprise biodiesel boasting an insane 840bhp in 1350kg of Kevlar body, taking the Spanish beauty through 100kph in a mere 2.9 seconds, equalling its speed to that of the Bugatti Veyron.

Canadian super car Plethore LC-750 made its debut for its first European viewing as well. This compact three-seater is equipped with 750bhp, a full fibre frame and a price tag of $350,000 US. Of course Italy made a fine representation with its line of Ferrari, Pagani and Lamborghini while a new manufacturer Tirrito introduced its Ayrton S supercar. It may not be as easy on the eye as others in its class, but its guaranteed to perform with its massive V10 engine. The exclusiveness of this racer, with only 50 of them being produced, fetches an asking price of €352, 400.

BMW came out on top showing off the beautiful Veritas with its M5 features of the lightweight 1940’s roadster, which gave the car its name. Providing 600bhp of exhilarating performance and a price tag of €330,000, it’s simply stunning to look at. Sales of more than 30 units are anticipated at the show. The Top Marques super car show boasts some of the world’s finest autos ever made. They also boast some of the highest price tags.