AD #2434 – New Aston Martin EV Details, Volvo Trucks Develops Cab-Less AV, Repair Shops Not Following OEM Guidelines

September 13th, 2018 at 11:36am

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Runtime: 8:00

0:33 Aston Martin Reveals Details About New EV
1:16 Porsche Expands Subscription Services
2:17 Unique Platform For Selling Used Cars
3:20 Volvo Trucks Develops Cab-Less AV
3:58 Hyundai Readies Fuel Cell Semi
4:19 New Vehicles Depreciate by Thousands
5:30 Repair Shops Not Following OEM Guidelines

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26 Comments to “AD #2434 – New Aston Martin EV Details, Volvo Trucks Develops Cab-Less AV, Repair Shops Not Following OEM Guidelines”

  1. David Sprowl Says:

    I wonder how many OEM dealers follow OEM guidelines?

  2. phred Says:

    That “new” Volvo…the Teamsters Union had better “WAKE UP! Your jobs and influence are on the line!

  3. Lambo2015 Says:

    I wonder if the Volvo AV truck is capable of backing a trailer into a dock. The trailers wont have any sensors and they never show that being done. If not it seems only marginally helpful as most plants need trailers moved in and out of docks not just moved around the grounds.

  4. Lambo2015 Says:

    Many repair shops might be falling into that non-compliance percentage simply by not replacing parts with overpriced OE replacement parts. Insurance companies may be driving some of that and the fact that OE often charge 4 or 5 times as much as an aftermarket component.

  5. Chuck Grenci Says:

    While the average depreciation of a new car may be in the 3000 dollar range, the first three thousand comes when you sign the papers (for purchase).

  6. G.A.Branigan Says:

    @ Lambo2015:
    Sensors at the various loading docks would send out a signal to a specific autonomous truck. That would then give it docking instructions…or not.

  7. Larry D. Says:

    5, and John-Sean: In your text, either the AAA made a major blunder, or the way you phrased the results was misleading.

    The average car does not depreciate by 3,000, but ON AVERAGE and PER YEAR, over 15 or 20 years. That roughly gives you 30,000 of depreciation (in today’s dollars!) before it is junk.

    My 320 Diesels (2007 and 2008) cost, with options, more than 60,000 new when bought, but I bought them for $10,500 and $11,000 repsectively. They had ALREADY depreciated by 49,500 and 49,000 respectively, and they got another $5,000-$7,000 of depreciation by the time I donate them to charity (if my past is any evidence, this will be in 2027-28!)

    More expensive Flagship sedans depreciate even more than that. A $200,000 Mercedes S class AMG 65 will be worth only $30,000 in 10 years, so the depreciation is a whopping $170,000 and counting!

  8. Larry D. Says:

    In addition, to 7, depreciation is obviously not linear, do not expect 3,000 every year, but 10,000 the first year (7,000 if you ar elucky) and much slower than 3,000 depreciation for an old car (15+ years)

  9. Lambo2015 Says:

    As Larry pointed out the depreciation is not linear. If you take out a 5 year loan without a huge down-payment you typically owe more than the vehicle is worth until your in the last 24 months of payments. But I understand they were giving averages.

  10. Kit Gerhart Says:

    5 I was never a fan of “dealer trades” that are now done, to discourage people from ordering cars. If I buy a car, drive it 150 miles, and want to sell it, it will depreciate $3000. Meanwhile, a dealer “trades” for a car, which will be driven 150 miles by a stranger, and wants to sell it as a new car

  11. Kit Gerhart Says:

    First year depreciation for an “average” ~$36K car will be $7-8K, or close to that. If you keep it five years, and in excellent condition, the depreciation would probably average out to about $3K/year, for that “average” $36K car. Maybe that was where that AAA number came from.

  12. Barry T Says:

    It’s starting to feel more and more like the leaders in autonomous cars are going to be autonomous trucks.

    A by-product of insurance total write-off vehicles is the salvage/restored title vehicle that in many cases can be put back on the road for a very low transaction price and still provide years of already-depreciated service. (with some obvious risk, of course)

  13. FSTFWRD Says:

    @ 4 Lambo2015 Says: fact that OE often charge 4 or 5 times as much as an aftermarket component.”

    Well I don’t think 4-5 times as much is correct. Yes, OE parts are always more but not 4-5 times. Do you have an example?

  14. Lambo2015 Says:

    #13 Yes I could get an new aftermarket fascia for $150 the OE is $600.
    New Headlamps you can find online for $140 a set are $300 to $400 each at the dealer. But yes OE fenders are typically only twice the price of other manufacturers.
    I know I needed a water pump for a GM LS motor the dealer wanted $650 for just the water pump. I did find a Genuine GM part for $380.

  15. Lambo2015 Says:

    13 So maybe a slight exaggeration

  16. Kit Gerhart Says:

    If a crashed late model car isn’t repaired properly, it will suffer thousands of dollars of extra depreciation. Actually, with the easy access to information from Carfax et. al., a seriously crashed late model car will suffer thousands of dollars of extra depreciation, even if it IS repaired properly, and with OEM parts. I just hope to avoid crashes, and then none of this will matter.

  17. Kit Gerhart Says:

    14, Lambo

    Would you get a genuine GM water pump at a non-dealer parts store with an ACDelco sign, and would it be substantially cheaper than from a dealer?

  18. Lambo2015 Says:

    17 The water pump I was in need of was a dealer only item. I could not find an aftermarket part. What I did find was a GM dealer on the east coast that is selling Genuine GM parts online at a lower mark-up as my local dealer. So I did purchase it from a GM dealer just not a local one.

  19. FSTFWRD Says:

    @ 15, 18 Lambo2015 That is quite a difference for the bumper cover, what kind of car was it? I think most bumper covers and front fenders usually fun 25-35% more for OEM. I am speaking as a retired parts manager (35 years with Honda, Mazda, Volvo // Local dealer and with Penske). Just a note, aftermarket (non-OE) sheet metal and bumper covers have a reputation of terrible quality and fit. EVERY body shop manager hatted to use the stuff, but had no choice with certain insurance companies. I could cut the price a bit and usually sell the OE parts. The body shop would make a bit more profit because the labor was so much less than paying the body man to make Non-OEM stuff fit. So what I am saying, is that these pieces are not really the same and a direct comparison in price is not actually accurate. Thanks for the info.

  20. Kit Gerhart Says:

    VW to drop new beetle in a year.

  21. Lambo2015 Says:

    Another problem with OE parts is they have combined many components. For example I wanted a brake reservoir for an Astro minivan. Simple plastic container which I expected to be $20 to $30 bucks. The dealer only sold the item with the brake cylinder and cost was over $150. Ended up going to junkyard to get the part I needed.

  22. Brett Cammack Says:

    I used to work for an aftermarket body part distributor. I remember the price for an OEM Chevy pickup door dropped by 75% when they became available in the aftermarket.

    They don’t call them “stealerships” for no good reason. :)

    With regard to depreciation, I ignore it. We bought the old Outlander new in 2006. It has 124k miles on it and was paid off seven years ago. I expect we’ll do the same with the new 2016 Outlander we bought last Spring.

  23. Kit Gerhart Says:

    22 Yep, if you keep them long enough, depreciation doesn’t matter. My 30 year old minivan, in near-mint condition, is probably now increasing in value.

  24. Larry D. Says:

    22 On “stealerships” it is an apt name for one of their three major businesses, parts and service. On new cars they barely make any $, over 10 years, and on used cars they do better, but I still prefer buying used from a dealer than from a private owner (which I did to save $ before 2005), since they are in really good shape, have a warranty, and still very affordable.

    22 on Depreciation, if you do very few miles with each of your vehicles, as I always did, it makes zero sense to buy new, unless it is some exotic ‘got to have it’ supercar you can’t find used. For people who do more than average miles per vehicle per year, buying new (with a good discount, of course) makes some sense. But overall, no matter what your budget is, I can find you a better vehicle for the same $, if you buy used. After all, what is the bid deal with the “new car smell”? A shrewd enterpreneur may actually bottle it and you can spray it on your certified used car for $5,000 less.

  25. Larry D. Says:

    23 I’d never buy even a 20 year old, let alone a 30 year old. They are really unsafe, lacking all the new tech, and also perform much worse than current cars (0-10 year olds). Unless it is a classic Bentley 53 or so I will buy as a project, to restore and drive on Sunday afternoons on country roads.

    Re depreciation, I remember a previous model Phantom (maybe 2012), the extended wheelbase version. It had 13k miles (most Rollses have very low miles), it had an MSRP of 470,000, but with the options (I have a photo of the sales page on the window), many of which were utterly ridiculous, it sold for $586,000. The price used as above was still $440,000, maybe in 2015-16. And it was not even the current Phantom VIII.

    So the depreciation more than covered the cost of all these options, each of which was typically a 5 figure item.

    Out of curiosity, I looked for the cheapest BMW-Rolls phantom in the market (2005 or so) and they don’t go below $80,000. But they are in really good shape and have low miles, comparatively.

  26. Kit Gerhart Says:

    25 I wouldn’t buy a 30 year old car either for “regular use.” I bought my van new, with the very rare turbo/manual trans powertrain, and it just got old under my ownership. Kind of cool, actually. It now gets little use. Yes, it’s not very safe, lacking even a driver air bag, so I try very hard not to crash.