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Following a recent trend, potentially due in part to falling gas prices and a new wave of inventory hitting the lanes as the new-car sales surge brings more trade-ins to the market, NADA Used Car Guide reported all the wholesale price segments it tracks are expected to experience declines over the course of the current week.
Manheim said Thursday it has moved two of its top executives into new roles.
In an effort to further the company’s goal to serve customers’ needs “anytime and anywhere”, Rick Pomeroy, vice president of national client sales support, and Erik Kibler, general sales manager, major dealer, are both now responsible for key organizations that focus on doing just that.
It likely doesn’t come as a surprise that $4 per gallon gas would have strong downward impact on the used values of large SUVs. Interestingly enough, though, a white paper from the National Automobile Dealers Association suggests that short supply of these units greatly mitigates the used value swoons caused by surging costs at the pump.
“In short, the limited supply of large SUVs will keep prices firm despite higher gasoline prices,” NADA explained.
As General Motors noted these promotions come in preparation for “numerous product lauches” in the coming months, the OEM revealed some shifts within its upper management.
First up, Alan Batey has been appointed to the newly created position of GM vice president, U.S. Sales and Service, in which he will report to Mark Reuss, president of GM North America.
Highlighting his background with the company, Batey began his career with GM in 1979 as a mechanical engineering apprentice for Vauxhall in the United Kingdom.
Acura has announced a voluntary recall of 52,615 model-year 2007–2008 TL sedans in the United States, to replace the power steering hose. In Canada, Acura will recall approximately 4,266 of the same sedan model and year for power steering hose replacement.
Acura reports that the power steering hose could deteriorate and develop a fluid leak over time. Leaking power steering fluid could lead to loss of power steering assistance or, if the fluid leaks onto a catalytic converter, could result in smoke or fire.