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How new car shortages may impact your buying experience

If you want further proof that the auto industry is bouncing back, look no further than the empty lots and forecourts of your local dealership. According to a story by The Wall Street Journal, continued high demand for mainstream cars is overtaxing automakers' ability to produce enough models. Several dealers interviewed for the story are reporting two-week supplies as opposed to the typical two-month allocations.
With sales expected to hit 1.4 million units when August numbers arrive shortly and incentive spending down to its lowest amount since January, these limited supplies are pushing prices even higher. For example, according to the WSJ, the average price of a Ford Fusion is up past $26,000. Unfortunately, it's difficult for manufacturers to increase production quickly. If it invests in its facilities, as many manufacturers have done, it risks wasting cash if growth suddenly slows. At the same time, the momentum gained over the past several years could be short lived if vehicle supplies continue to dwindle. "Manufacturers are in a precarious situation," notes Karl Brauer, a senior director at Kelley Blue Book.
Low interest rates and a wealth of desirable features are also allowing customers to purchase more expensive vehicles while justifying their higher overall price tags, a situation that is compounding supply shortages. Even now, during the annual end-of-summer clearance season, deals on new vehicles are remarkably difficult to come by. According to the report, the Toyota Corolla is in a self-inflicted state of shortage, as Toyota clears out inventory in anticipation of the new 2014 generation arriving in dealers. Ford's supplies should rebound as Fusion production comes on line at its Flat Rock, Michigan factory. The Chevrolet Impala, Honda Odyssey, Civic, and Accord and Subaru Forester are also facing shortages.

Mom Accidentally Steals Honda In Brooklyn

The owner of a 1993 Honda Accord that was accidentally stolen by a young Brooklyn woman's mother has the car back in her possession, after amusing posters popped up all over town. Cheryl Thorpe traveled to New York from her home in Houston to watch her daughter's dog while she and her roommates went on vacation, according to New York Magazine. Thorpe was also left the task of moving the three girls' cars to legal parking spots on a street-cleaning day. She dutifully moved the Fiat, Honda CR-V and Accord, but when the trio returned from their vacation something was wrong. The owner of the Accord found her car right where she left it, thankfully free of parking tickets. The Accord Thorpe had moved belonged to someone else. As it turns out, some older Hondas have interchangeable keys. Thorpe was able to use the girl's keys to move Emily Hickert's car while she ate brunch. Hickert spent an entire week thinking a professional car thief had made off with her 21-year-old ride. "In less than 40 seconds she gets in the car and goes," Hickert told The New York Post, after reviewing security footage from a nearby business. "I thought she was a professional." Hickert filed a police report, while Thorpe's daughter posted fliers all over Brooklyn looking for the Accord's owner. Hickert was eventually reunited with her Honda, which had been towed after sitting parked on the street. She says she bears no ill will towards the women involved in the mix up. "I'm not upset with her," Hickert told The Post. "I'm glad it wasn't a thief. I just didn't know why anyone would steal a 1993 Honda." Related Gallery Honda's Redone 2013 Civic Pulls Icon Out Of The Fire Weird Car News Honda

Japanese automakers ramping production for renewed American sales

The 2011 earthquake and tsunami that struck Japan took quite the toll on the automotive industry in that nation. Not content to lean on that tragedy as excuse for slagging sales, the Japanese automakers are planning on a major production expansion in North America. The aim is to reclaim the market share lost from the Tsunami-based dip, and overcome a dollar/yen exchange rate that makes exporting to America unprofitable.
Following the Tsunami, Japanese automakers ramped up production in their North American facilities to compensate, but according to Automotive News, Nissan, Honda and others have all reported plans for still-further increased production in the year ahead. As part of this ramp-up, Mazda will open a facility in Salamnca, Mexico before March of 2014. Part of that increase in output is 50,000 units of a Toyota-badged compact car, which Mazda will produce.
Other Mexican production facilities opening include a Honda plant, which will open in Spring 2014 in Celaya, and a Nissan plant, set to open later this year in Aguascalientes. Nissan also said that it will need another plant in North America within the next five years. According to Nissan Boss Carlos Ghosn, the company aims to raise its stake in the US market from 8 percent to 10, and adding production will help achieve that goal. Even Mitsubishi is aiming to boost production at its Normal, Illinois plant. Production of the Outlander Sport is currently at 50,000, which Mitsubishi wants to raise to 70,000.