Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
Options
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
So it "cost" you $3200 in the first year. I suppose you think one is better off if they bought an Accord or Camry for $21,000 and it depreciates at only 80% of your average figure...meaning it loses 16% in the first year or $3380.
The original questions was in regards to the resale value going up on the Sonata, not how much it "costs" to use it in one year.
Since Hyundai's have been getting better, their value should increase over time. Lets be honest "it's a Hyundai" does not hold as much weight as "it's a Honda" just yet. The Sonata is a great bargain. Question is, would they sell as well if they cost just as much as an Accord or Camry? I don't think so. Mazda is about to find out if they can sell over the 100K mark with the new Mazda6 using this approach, and abandoning the bargain concept that the current Mazda6 is.
Honda sells virtually no cars to rental car or company fleets, while it is still relatively common to rent a Hyundai, Kia, Mazda, or many of the domestics. Toyota used to sell Corollas and Camrys to companies like Hertz, but they are doing much less of that today.
One of the reasons why auto sales are down in 2008 is because many companies are cutting back and buying fewer cars in their fleets. Especially trucks, SUVs, and minivans. This is mostly hurting the domestics.
Toyota Camry--- 41,572/ -10.8%
Honda Accord--- 39,704/ +37.3%
Nissan Altima --- 24,541/ -5.4%
Hyundai Sonata-- 16,875/ +11.9%
Chevy Impala--- 16,671/ -53.5%
Chevy Malibu--- 13,650/ +86.4%
By the way the Chevy Malibu May sales were 15,634 which was down from April sales. So the data suggests at that rate Chevy will have to give the Malibu away.
The percentage changes are from comparable June 2007 sales.
Good to see Hyundai gain - clearly they have wrought the right changes in the interior - and seeing the new Genesis, I think the next gen Sonata will be something to watch out for.
Now, if GM had Camry / Accord sales numbers in their target, then obviously they were way off, and from that stand point, the Malibu is a failure.
I could be wrong, but I would assume that the Mazda6, unlike the Sonata did not start out as a "bargain concept". I think this developed over time...though I'd guess it likely always sold for less than a comparable Camry or Accord.
The percentage changes are from comparable June 2007 sales.
A "disaster" for GM? Hardly. Not only have they increased their sales (by 86%) from the previous year, when just about all other midsize sales have dropped (even the coveted Camry dropped 11%), but a much-higher percentage of previous-year sales have been to fleets.
To expect the Malibu to match the CamCord numbers on it's FIRST year of a redesign is simply ludicrous, and I'm sure GM has known this from the start.
Fairfax Strike on Autoblog.com
We can probably call it at the end of the year.....
and a better but still second rate product - again. The last Malibu was supposed to be the car that 'saves GM' - and it sure did flop. Anybody remember PATCO?
This is the time for GM to really push; it has put out some very good cars out there in the last year or so (Malibu, Aura, Astra etc.) - high fuel prices should benefit all small cars (not that Malibu/Aura are small, but large SUV owners would see that differently). I do see a lot of Nissan Versas, Toyota Yaris and Honda Fits on the road these days.
I really think GM should have (Sorry off topic) a parallel Chevy model for the Astra - that seems to be a heck of a good car.
Based on my limited time with the models, my ranking would be:
Altima - Sporty character, right size, great 4-cyl acceleration and economy
Accord - Comfortable size, best "drive" of the bunch, but too big and stodgy now for this young man
Sonata - Value leader, pleasing ride and economy, but otherwise a yawn
Malibu - Easily the most stylish to this young man, decent economy with the 6-speed/4-cyl combo, but lacking room and polish
Camry - Do I even have to go there? I fall asleep typing about...ZZZZZZZZZZ
Perhaps you failed to notice that sales are trending down every month, not up. GM spent over $100 million on sales promotion on this new Malibu, a figure higher than for the Accord, Camry and Altima combined.
Still, the 86% increase from June 2007 is not a valid comparison as the new Malibu is a totally different car that was expected to appeal to a wider audience including the coveted import buyer. Instead what they got with the new Bu is an older demographic. Well, it won't be long before they turn to the Impala playbook. Heavy discounting and other sales incentives such as zero percent financing and free OnStar and XM for life.
Wonder what ever happened to plans to put a decent V6 in the Ford. I guess the Mazda 6 gets blessed with something more competitive simply because it sells many fewer copies than the Ford version.
I'm sure that akirby will be happy to fill us in on the latest 'promise' out of a long list of unfufilled promises.
Hypothetical Example:
2009 Sonata bought at $16.5k, retail cost 20k, resale value after 3 years at 11k, 33% loss off buy price, 45% loss off retail
2009 Camry bought at $19k, retail cost 20.5k, resale value after 3 years at 13k, - 31.5% loss, 37% loss off retail.
Let's say these are the numbers for resale. On a dollar amount, the sonata is worse. On a percentage, the sonata is worse. On the ACTUAL costs, the sonata completely wins. You paid less to start, you paid less overall after selling.
Nobody freaking actually uses these values. All I ever see is bs with resale percentages and resale based off retail and resale based off completely wrong "True market values". Sonata blows everyone away in costs using legit values that I've calculated myself. This doesn't even include the extra value of having cash from not paying more up front.
Anyways my original thought is that the sonata might improve from selling for 11k in 3 years to being 11.3k or something. A sensible change due to a better car and increasing interest.
The 2010 Fusion gets an improved 3.0L with 240 hp and better fuel economy. It is supposed to get a limited version with the 3.5L also. Add in the hybrid and the new 6 speed trannies for the 4 cylinder models and it's competitive.
It's a solid car getting a lot of improvements after only 3 years. Nothing to apologize for.
Was there a typo in there? Using your numbers, I came out with the Camry doing worse in terms of dollars (loss of $6000 after 3 years vs. Sonata at $5500). Which illustrates the point I made earlier very well--the higher-priced car tends to come out well on depreciation on the percentages, maybe not as well as dollars out of pocket.
Then again having the highest fuel economy 4 door vehicle will do that. I'm reminded of the hoarde of ford escape hybrid taxis I've seen. Hybrids will sell just for the fuel advantage.
now THAT is exactly what the problem is. The reason why the Fusion couldn't have better engines 3 years ago is why??? Ford will never again be a player in this segment if they are always the last to show up at the party.
That is a good question. Based on what I've seen and read about the all-new Mazda6, it should be competitive with the best in class in performance and interior room, offer class-leading styling (subjective of course), a great blend of ride and handling, and be competitively priced with the likes of the Sonata and Malibu. If it's all that and still can't make more of a mark in the mid-sized market, then I don't know what else Mazda can do. Maybe take over Ford?
The new Mazda6 is equipped with its new 2.5L, which has gotten rave reviews for smoothness and refinement. According to all who have driven it, it is more then a worthy competitor, and should do very well.
best not change unless they want to alienate the few loyalists they do have.
Every indication is that Mazda has made the next 6 more "mainstream" while still retaining the handling and style expected by Mazda afficionados. We'll see if that's enough.
Honda jumped the shark last year, with their redesign. Gained weight, lost mpg with both I4 and V6, and have some issues with the VCM. They're definitely vulnerable now.........
Of course that remains to be seen.... back in '96 when Ford jumped the shark with their Taurus redesign, they were still midsize sales champs in '96. But afterwards, when it became apparent the new Taurus wasn't as good as the previous design {92 thru 95} sales dropped off, and never recovered. Just possibly Honda is smart enough to quickly recover before the Accord does the same thing........
I'm not so sure that Mazda's redesign was all that smart at this time too, because again, we have a weight gain. Though only 150 lbs or so.........
Being later to the table, allows Ford to make hay now {Hyundai could gain too}. If the new 3L is efficient enough {yeah, I know, big question yet}, then Ford having the lighter platform, may very well become the V6 midsize mileage leader. Doesn't sound all that crazy really, when you realize that the '08 Taurus is EPA rated at 18/28 which is better than many in this class, then lives up to it in the "Real World MPG"........If Ford can do the same thing with the Fusion/ Milan, watch out.........
good handling, quiet & good ride. Some niggling complaints, poor placement of some controls, reflections on the radio screen, and inadequate mileage. about 28 - 29/5 tops at 65 to 70 mph cruise. I'd consider buying one if the mpg was better.
Is Ford 2-3 years late with their new engines? Of course! Why? Poor management decisions of the past. Mulally and Fields are fixing things as fast as they can, but you can't fix everything at once when you have limited funds and resources. Fusion is important but it's more important to have the 3.5L in the crossovers than in a Fusion right now.
They may be late, but they're finally doing things the right way. Watch how fast they convert truck/SUV plants to produce small cars. The old management ball and chain is gone. The only question is whether they can hang on long enough to implement the changes.
And it's not 3rd place everyone is fighting for anymore... with the ascent of the small cars, it's more like 4th or maybe soon 5th!
Well, I was talking about "midsize sedans" only. Do you see another midsize sedan taking over the number 1 or 2 spot in the next 10 years? I don't. When our friend or neighbor's Malibu is still holding up well at 10 years/150k miles, we might believe the "change" is real.
Ten years is a very long time. How many people would have predicted 10 years ago that MT would rank a Korean mid-sized car over the Accord, Camry, and Altima, not to mention GM, Ford, and Chrysler? Or that a Korean mid-sized car would equal Accord and Camry in predicted reliability? That would have had to be a lunatic saying things like that 10 years ago. Yes... ten years is a very long time indeed.
If the roof on my wife's Jetta was maybe an inch higher, it too would be mid-size, according to the EPA's silly definition.
As Edmunds put it:
Toyota is fond of pointing out that the EPA classifies the 2008 Prius as a midsize car, just like the Camry. But the Prius is much closer in size to a 2008 Toyota Corolla compact than a midsize Camry...the plain fact is the Prius is 3-4 inches narrower than the Camry, inside and out, and we can feel it the moment we sit in the cars.
Prius vs. Camry
Similarly, Elantra, Sentra, and Versa are classed as mid-sized by interior volume. Personally I could not care how big a car is on the OUTSIDE. What matters to me is how big it is inside. Actually, the smaller the car is outside, and the easier it is to park, the better I like it.
REgards:
OldCEM