Leadpile’s Blog

Just when we thought the auto industry was headed in the right direction, a recall happens with Toyota…. then another recall.. then another recall with Honda. I don’t know about you but this is scary for the auto (finance) industry that we very much work in. Going to a dealership was like going to a ghost town, and then things finally started getting better. This shake up with Toyota, and now Honda, could not have come at a worse time. The struggling auto industry was finally heading in the right direction, and then this all happens. The ironic thing about the recent recalls is the fact that the two companies now in the news were the ones that stayed out of the negative lime-light in the last few years. Kudos I guess to our nation’s automakers for already having gone through the “bad” part of the auto industry hiccups, but gosh when is the auto industry going to get a break? Let’s all keep our fingers crossed that the auto industry keeps moving forward, not backwards!

In an effort to boost some new car sales, GM has teamed up with the online shopping marketplace eBay. Previously, eBay was a place you could purchase a car, however purchasing a brand new car was not necessarily available. The NY Times is reporting, “The venture will involve about 225 dealerships in California at first, but G.M. hopes to expand it nationally as soon as September.” Hopefully, in combination with the Cash For Clunkers program and this sort of exposure, GM will see some positive things happening. Many reports are showing that the Cash For Clunkers program has allowed more auto finance traffic to start coming in to lead generators. If that is the case, hopefully we will see a high acceptance of this lead type by our buyers.

It’s been a really bad year for many industries, however the auto finance industry has got to be one of the worst hit. GM has been hit really hard this year with a bankruptcy, and was forced to become a recipient of government bailout money. However, this second half of the year might prove to be a little happier for GM with the roll out of the new Camaro. What little boy (or girl) did not have aspirations of having one of these cars, but never could?
NPR news is reporting that there has been 15,000 of these beauties already sold and 13,000 on back order, but is carefully manufacturing these cars in a timely manner so there does not become a higher supply than demand. So maybe all this buzz will ignite some other auto sales so we can get this auto finance industry going in the right direction! Good luck GM!

We all now what the auto makers have been struggling with. Most recently Chrysler filed bankruptcy, and now it appears GM might be following suit. It seems GM is trying to do a quick sale of its “healthy” assets.
The remaining assets of GM would stay in bankruptcy protection to satisfy other outstanding claims. GM has about $6 billion in secured debt, including secured revolving credit and bank debt.
The ownership structure of the company is still being worked out. In addition, the government would extend a credit line to the new company, and potentially forgive a large amount of the $15.4 billion in emergency loans that GM already received. The government has given GM until June 1 to restructure it’s operations to lower it’s debt and employee costs.
Leadpile Lead Exchange is very much concerned about the future of the auto industry. We hope this struggling industry sees the light at the end of the tunnel!

Hyundai started the trend and now GM and Ford are jumping on the bandwagon. These automakers have rolled out new “job loss” protection plans for those looking to purchase a car. According to The Washington Post, “U.S. automobile sales are barely running above an annualized pace of 9 million this year. By comparison, car companies in recent years have sold 16 million to 17 million vehicles. Analysts say the sharp drop suggests that Americans have grown so reluctant to buy new cars that they are even holding back on replacing vehicles that have been in accidents or no longer run.” GM’s job loss plan would cover up to nine car payments of $500 each for customers who lose their jobs, and Ford is offering payments of up to $700 for 12 months.
I am not sure of the specific details of these plans and what sort of “criteria” they set, however this is a positive for those that were a little reluctant on buying a new car. With a little (or lot) of government help, and these sorts of plans being rolled out, maybe there is some chance the auto industry can get back on it’s feet????? Leadpile Lead Exchange is excited about the possibility that there might be some light at the end of this very loooooooong tunnel.

In a previous blog post, I discussed about a “car czar” being appointed to help with getting the struggling auto industry in the right direction.  However, the president has chosen to go another route.  

In recent news, Reuters.com is stating that the president has instead decided to create a government task force. It appears Treasury Secretary Timothy Geithner will be the one to head up this committee. This committee will be overseeing auto bailout loans and other actions related to these struggling auto makers. Details are not out yet, but I am sure we will all be keeping an eye on this.
Leadpile Lead Exchange is anxious for the struggling auto industry to get back on track. However, if by chance there are still dealers or lenders looking for interested car shoppers, we might be a good match to look into getting these leads. Believe it or not there are still some wanting a new car, but I never would have guessed that when driving by the many “ghost like” dealerships. The light is at the end of the tunnel, and hopefully soon the president can be the one to ignite this.

According to Forbes.com, the big 3 auto makers have concluded testimonies in front of Congress. They are requesting emergency financial assistance and failed in their first attempt in front of Congress. Round 2- they get another chance to plea their case. However, Congress is looking to see if these big 3 auto makers actually have a plan in place. According to Forbes, “What they likely want to see is how the carmakers will lower their labor costs and develop more fuel-efficient cars U.S. consumers will want to buy. The companies are happy to lay out their future product plans, which include more hybrids, plug-in electric cars and new turbo-charged gasoline engines that sip fuel. But the rest is tougher to do.”  Let’s see how the next week or so pans out for GM, Chrysler and Ford.  My fingers are crossed for you.

Leadpile Lead Exchange, and I am sure all other lead companies, are hoping something positive comes out of the meeting with congress. We would love to see the demand pick back up!  

GM is speaking out and getting the facts straight to the public.  Check out this site: http://gmfactsandfiction.com it allows you to write the “myth” you heard and they will provide the “facts”.   

I was reading today that GM is closing four factories.  Although it has not been determined if that’s 100% accurate, many speculate that it is.  GM has announced that they are closing the Janesville Wisconsin factory.  Shutting down doors for approximately 1,200 workers, December 23rd 2008. The other potential factories, looking at their doors closing, are the ones located in Ohio, Ontario, and Mexico.  

Shares dropped horrifically for GM over the last few days. In an attempt to save money, GM is looking at a few avenues to save money. They are looking at closing down factories that focus specifically on GM’s big trucks such as the Tahoe, Suburban and Yukon. This is a way that GM believes will be lucrative in the long run.  GM has confirmed that they are not going to file for bankruptcy.

What do you think?  Do you think GM has an opportunity to come back from this nightmare?  

With all the demand for autos to become more eco-friendly, high performance AND attractive looking, Tesla Motors feels like they have what people are maybe looking for. This high demanded car is the Tesla Roadster. The battery operated car is a 2 seater sports car that you can customize fully. Unfortunately, the price tag is not affordable to most consumers at $109,000. According to their website, there is a 12 month wait to get one built. Their goal is to roll out a 4 door sedan at around $60, 000, which is much higher then the GM’s sedan (Volt)they will be rolling out in 2010. GM is estimating the cost of their battery operated sedan to be around $40,000. I will say there is a very interesting fact about the chairman of Tesla Motors, and that is that he was the co-founder of Paypal. Time will tell if this Silicon Valley start-up can get the auto world headed in the right direction towards a more eco-friendly world.
Leadpile Lead Exchange generates a lot of auto finance leads. Unfortunately, I am not sure we are going to come across advertisers/dealers in our marketplace able to provide this new beauty…..yet. However, we do welcome any company able to generate auto finance leads!

Now might be the time to go out and get your new GM auto. According to MSNBC, the employee discount promotion will not be extended past the end of this month. If you are wanting any type of GM, now would be the time to go out and get it and save some money! The discount was saving some consumers anywhere from hundreds to thousands of dollars on that new car. This promotion has been going on since mid August, however sales are still down from the year before. Fortunately, it has allowed GM to have less of a “slump” compared to Ford and Chrysler.
If you are a consumer who is wanting to get that new auto NOW.. Let Leadpile connect you with dealerships in your area. Go to my loan and debt website to get matched up with an auto dealer.
If you are a publisher or advertiser, we would love to work with you here at Leadpile Auto Lead Exchange to connect consumers with dealership near them!

Companies in all industries are experiencing the pressure of having to come up with new ways to get consumers attention. Online lead generation has been a tool for helping companies find consumers needing a new home, a new car, or various types of loans. However, with the economy the way it is now, companies are working on trying to attract online customers to “new” types of products.
Gone are the days of focusing all your marketing efforts on high profit margin items such as home sales, new car sales and other high price ticket items. According to leadmarketwatch,“The time between major purchases is growing larger due to market pressures as well as improved quality and higher prices. Therefore, marketers need to capture the client in between purchases and it is through micro-needs like chrome wheels, new tires, paint jobs, etc.” This means that companies such as GM are focusing on bringing in leads of consumers wanting new tires and accessories, versus getting the new car. This is also in line with Leadpile Lead Exchange and the need for lead types such as car warranty, car refinance, and home security system leads that are becoming more and more in demand. Service providers could be the ones reaping the rewards of the slower economy… don’t buy a new car or house… fix up the one you already have!

General Motor Corp. is introducing the new Chevrolet Volt in 2010 and has a waiting list of over 33,000 prospective buyers for this new battery powered car.   Many buyers for this vehicle are from California, Texas, Illinois and Michigan.  Yes, many Americans are facing high gas pricing in these states.  

Its estimated to cost about $31,261 which is less than the $40,000 GM said would cost to generate the car equipped with a massive lithium-ion battery pack.  

The new Chevrolet Volt will be able to run 40 miles on lithium-ion  battery and can easily be recharged at a standard outlet. 

GM showed off a concept version of the Volt in January 2007 but has retooled the look of the vehicle significantly since then.  

What do you think of this new vehicle?   Are you on the waiting list as a potential buyer?  What other neat features do you anticipate this car having?  I wonder what the lifespan is for the battery? 

I love the style, what do you think! Hot Car? Or Two thumbs down?