Taiwan`s Auto Conglomerates Eye Lucrative Used-car Biz

Taipei, Aug. 4, 2010 (CENS)--Eyeing lucrative business opportunities in the used-car business, both Yulon and Hotai, the top-2 carmakers in Taiwan, are increasing investments in such sector.

Justin Su, president of Hotai Motor Co. Ltd., pointed out his group now accounts for only 3% of the overall used-car market in Taiwan, implying room for expansion. This year, Su claimed, Hotai would further integrate its new-car distributors to expand Toyota`s share in also the used-car market.

In the first half, some 3324,700 used-cars saw transferred ownerships, Hotai said, up 7.7% from that in 2009. Hotai attributed the YoY increase to the increasing willingness to buy new cars due to the recovering economy. Hotai`s distributors are planning to jointly pour NT$30 million to NT$40 million to increase dealers for Toyota-certified used cars to 19 by the end of the year from 14 currently.

Fortune Motors Co., Ltd., general agent of Mitsubishis, has set up the SUM high-quality used-car sales alliance with more than 250 franchised dealers around the island. The SUM alliance was set up to provide installment loans to used-car buyers, and now contributes to 40% to 60% of its overall profits.

To keep the residual value in used Mitsubishis, China Motor Corp. under the Yulon Group that locally assembles Mitsubishis also set up a used-car distribution chain in Taiwan.

Sinjang Corp., a member of Yulon Group, is an agency, wholesaler and retailer of used cars. The company used to auction 2,000 to 3,000 used-cars per month when it monopolized domestic used-car auction business. To confront strong competition from Hotai Group, Sinjang established the SAVE certified used-car sales alliance in 2009, with 106 used-car dealers having joined, and plans to increase the number to 150 by the end of the year.

Shuen Yi Motor, another distributor of Mitsubishis, recently set up the "Car OK" used-car alliance and aims to attract at least 40 members by the end of this year.

(by Quincy Liang)

10 Best Tips For Saving Money on Your Car

After you get recommendations for honest mechanics, call around to check out the prices for certain jobs. It's always smart to get a second opinion.

How about some preventative medicine? Keep your gas tank filled. This will help you avoid the gas line freezing up in cold weather. Also, driving on "fumes" allows little pieces of dirt at the bottom of your gas tank to run through the fuel lines with the last drops of gas. This debris clogs up the fuel filter and can cause carburettor damage as well.

Sometimes a problem with your car's electrical system results from a simple blown fuse. Check to see if you have any blown fuses before investing in a tow truck! Keep track of how much oil your car uses. A sudden change in oil consumption means you need to see a technician. Save your brakes by having your brake fluid changed every 30,000 miles. Check your tire pressure once a month. This simple maintenance check can add up savings at the gas pump!

Stop and go traffic causes excess wear and tear on your vehicle. Go ahead and give your car a nice twenty minute ride at 55 mph on the highway every couple weeks if you "major" in short trips.

There are other ways to save money on car expenses. Let's look at the insurance payments.

If you've budgeted for possible out-of-pocket expenses in case of a car accident, you might want to consider increasing your insurance deductible to $500. This will lower the cost of your insurance.

Talk to your insurance agent. If your car is as old as the hills, you might want to drop collision coverage to save money.

Car insurance companies offer a variety of discounts. Ask your agent if the company offers reductions for driver training courses, anti-lock brakes, car alarms, air bags, mature drivers, good students or maintaining a good driving record.

Before you purchase from a dealer, ask about the dealer's return policy, get it in writing and read it carefully. Dealers are not required by law to give used car buyers a three-day right to cancel.

Each 5 mph you drive over 60 mph is like paying an additional $0.10 per gallon for gas.

In most cases, using cruise control on the highway will save gas.

Replacing a clogged air filter can improve your car's gas mileage by as much as 10 percent. This isn't going to cost you an arm or leg either.

Do your homework when buying a car from an auction. Many vehicles that have been damaged by floods and hurricanes are going on the market. These won't last long – leaving you with a flood of bills. Be a little concerned if the carpet looks too new, and check carefully for signs of rust.

If you use your car for business, keep track of miles travelled so that you can use this for a tax deduction. Get more info at irs.gov.

When you consider all the ways you can save money on your current vehicle, you might be persuaded to put away the extra each month for a new car down the road!

Used Car Market India an Overview

Used cars have emerged as the best commuting solutions for Indian masses. The reason is very is obvious, used cars are not only easily available but fit to the budget of majority of Indian masses as well. In addition, lower interest rates and easy financing have really boosted the sector.

There is not any official statistics on the market status of the used cars in India yet. However, most of the Indian auto-marker, xperts believe that this sector has really bright future and is likely to prove advantageous for the Indian masses. As per the market trends, unorganized sector is playing key role in this sector and spreading the culture of used cars in smaller towns of India as well.

Moreover, some of the estimates provided by major car companies in India states that the used car market has registered a phenomenal growth in comparison to new cars. At top of that, some of the car financers have also echoed the estimates released by the car companies, saying that the used car sector has touched new heights in the current fiscal year. According to some media reports, the major car companies are likely to enter the potential market of cars. These companies are eying the largest middle class population, which is luckily in India.

Another factor which has boosted the used car market in the country is the high resale value of cars. Car owners are now do not hesitate in selling their cars, as they are offered decent amount of money. However, the resale value depends upon the merit of the car. Also, one can get a wide range of used cars of different models, types, colours or in any other preferences. Therefore, aspiring car owners will not have to compromise with any technical or esthetical features.

To put in, used cars fit to everyone's choices and needs, including car sellers and buyers. If you are looking forward of owning a car, try used cars!

Why To Import Used Cars Directly From Japan?

Japanese used vehicles are very popular worldwide for their quality and very affordable pricing. Cars from Japan are subjected to strict emission tests and quality control which are the main factors that encourage the sales of used cars in Japan than any other country. According to the data of a recent survey, over 100000 Japanese cars are used worldwide. No import tax and lots of bundled accessories have attracted many people around this planet towards the used Japan cars. With the huge popularity of the used Japan cars, many exporters have popped up recently. Moreover, used Japan cars can be ordered online too. With help of these online used car websites, you can get your dream car delivered to your doorsteps while you just relax in your home.

Japanese used cars are exported in a very high rate to more than 85 countries. Along with cars, Japan also exports buses, trucks and even heavy equipments like excavators. As no import tax is levied for the Japanese used vehicle, people find it more profitable to import used vehicles directly from Japan than buying them from their own country.

The Availability of spare parts

Before purchasing a used vehicle, many are really concerned about the availability of spares for the particular vehicles. In the case of used Japan cars, the spare parts are readily available in any Country. Moreover, the leading Japanese used car exporters assist the customers for buying the spare parts too. The spare parts for the used Japanese cars can also be ordered online.

Japan Auto Auction:

Japanese auto auctions are very popular worldwide. For the moment of truth, one can buy a used car in good condition for just $250.The fantastic competitive Auction Service, also facilities to make major and minor repairs, paint touch ups, customizations for the used cars. Online auto auctions have added more convenience to the import of used cars directly from Japan.

Additional Benefits

The Japanese used cars dealers stand one step ahead for their additional services

like repainting the vehicles and to retouch the small scratches in bumpers and body panels with the specialists. Also, the Japanese used car dealers can bring up the exact factory color with the art paint mixer in their paint shop. Along with the car sales, the Japanese used car sellers also supply the dismantled parts of the vehicles in cube containers of size 20ft or 40 ft. These dismantled parts are bought for dead cheap prices today and they are re-assembled into a classy car.

Summing Up

The main benefits off importing cars directly from Japan are:

Low pricing

No Import tax

Lots of bundled accessories

Great assistance buying the spare parts.

Methods for selling Used Cars

It is absolutely essential that that you make your car look presentable before initiating your selling efforts. Give the car a good water wash followed by a wax job on the car body exterior. It is also necessary to vacuum clean the inside, and gloss up the tires, and spruce up the overall appearance. If there's any burnt lights or fuses or other defective small accessories, replace them immediately. Prospective buyers will certainly feel annoyed once they see little things in bad shape. As a matter of fact, you can even add a few additional fittings to make the car look still more attractive. Please also make sure the tires are all properly inflated and the battery is in fine shape.

Prospective buyers of used cars are always apprehensive about three things - What is the mileage? Has the odometer been rolled back or tampered with? Was the car ever in a wreck at any time? It is of paramount importance that you allay the buyer's misgivings by giving them a copy of an Auto Check Vehicle Report of your car that they not only feel satisfied about the exact condition of the car but also feel convinced your mileage has not been rolled back and your car has a clean record.

There is no denying that the most powerful selling tool is your car maintenance record especially oil changes and battery check ups. Every time your car is serviced, add the service report to your car file. When people see your car maintenance records, they will be immensely pleased and would want to do business with a self- organized person like you.

Auto classifieds on the web are much more cost effective than newspapers classifieds. Instead of limiting your ad to some local people who might or might not want to buy a used car, if you advertise on the web where there will be millions of people reading and a large number of responses. Avail a web site that offers a money back guarantee in case your car does not sell within a prescribed time period. Some sites run the ad continuously for a low price until the car is sold - a benefit no newspapers will offer.

Yet another constructive suggestion is to create color flyers about your car for distributing to possible buyers. Flyers can carry more details than a classified ad. It will be excellent if your web ad carried color photos and all the important particulars of the vehicle. If the buyer complains about some scratches or stains on your car exterior, politely explain it is normal wear and tear of a used car of and that is the reason why you are not demanding the price of a new car. This however does not apply to dents and it is therefore necessary you repair the dents before your buyers inspect the car.

Never advertise your car sale till you have researched the market for your car value, created your maintenance records and figured out how you will respond to every one of buyer’s queries. The asking price is very important and if your expectations are too high, the car will never be sold. Likewise if you under-price, the prospective buyers may suspect the condition of the car and its history.