Amid a revolutionary change in the automobile industry, the father-and-son team of Lombardo Perez, Sr. and Jr. are behind the wheel of one of Miami's most successful dealerships. Lombardo Perez, Sr. opened Metro Ford in Miami more than 25 years ago and he quickly turned the company profitable. But in recent years, times have been bumpy. The automobile industry is undergoing a seismic shift.
Got a clunker, but don't know what to buy?
Fear not, we've done some of the work for you. Thanks to the government's Consumer Assistance to Recycle and Save (CARS) program, also known as Cash for Clunkers, right now is a great time to buy a car. While the CARS program provides either a $3,500 or $4,500 credit, several manufacturers are adding incentives on top of the government cash. Be aware that the dealer has nothing to do with the government money, so you should still barter for the best deal.
Thinking about trading in your clunker for a nice, new, fuel-efficient car?
Does your car qualify for a voucher? Input your existing vehicle and if we believe it may qualify as a trade-in under the Cash for Clunkers (CARS) program, we'll return a set of all the new vehicles that we believe may qualify as new vehicles under the program and that you may be able to buy with some help from Uncle Sam.
The Car Allowance Rebate System (CARS) or, Cash for Clunkers as it's more commonly known, is new legislation designed to take fuel-inefficient vehicles off the road, and replace them with new, more fuel-efficient vehicles. Cash for Clunkers also is intended to help boost the nation's automakers by jump-starting car buying again. All of this is done through fairly generous cash payments for those that qualify.
The en-masse shedding of car dealerships by Chrysler and GM is about to profoundly deepen what was an already troubling trend: the fast decline of dealerships across the country, particularly those owned by minorities.
Chrysler's decision this week to terminate a quarter of all its dealerships did not hit minority-owned companies as hard as initially feared. But a minority dealership advocacy group is nonetheless upset with the way the company is handling the situation, and has retained a law firm in preparation for a potential legal battle. The chief complaint? Chrysler is giving its terminated dealerships less than one month to prepare, while GM, by contrast, won't shut down dealerships until the fourth quarter of 2010.
Buy a car? Right now? Really? Would you believe us if we told you there has never been a better time to be a car buyer? We're talking full blown, White House-mandated initiatives to help get you in a car. We're talking the most extreme guarantees ever offered by manufacturers. And yeah, there are plenty of cash incentives too if you just want a great deal.
While the whole economy battles the recession, the auto industry seems to have been hit particularly hard. The truth is that every negative impact on one of the major automakers worldwide has a major impact on the dealerships or franchises that sell the vehicles. Hispanic Business had an opportunity to talk to four Hispanic dealership owners to see how they are faring. Their examples illustrate many of the difficulties that dealerships nationwide are experiencing.
Paying $23,050 for a Honda Accord might not be an option for you right now, but maybe leasing one for $241 a month is. Check out the Accord and nine of the other most popular vehicles when it comes to leasing.
From Los Angeles to Miami, Hispanic auto dealers innovate and tighten belts as they bump through tough economic times.
What are the most popular cars out there on the road today? With so many different models available on the open market, picking out a new car can be a challenging decision. It may help to know which cars that are peeling away from dealerships all over the nation. Here is a list of the top 10 cars sold by unit volume purchased from Jan. 1, 2008 to Aug. 31, 2008.
Somewhere between the glamor of new cars posed on the cover of glossy magazines and the classified section headlines that scream about untouchable deals -- you know, five at this price -- you will discover the truth about buying a new car. So let's get down to it.
The Burt Automotive Network again leads the Hispanic Business magazine list of the Top 20 Auto Companies for 2007.
In many respects, 2006 has been a poor year for the automotive sector, both in the HISPANIC BUSINESS 500® and the wider market.