Used-Car Prices Fall to Lowest Level This Year

After rising slightly in April, late-model used-car prices dipped again in May. The average price for 2010 to 2012 used cars on Cars.com stood at $22,508 on May 1, a $159 decrease from April 1 and the lowest average price so far this year.

Of the 10 models with the biggest price drops in May, half of them were from luxury brands. Leading the list with the biggest price decline was the Lexus ES 350 sedan. After experiencing a run-up last month, its average asking price fell $2,682 to $30,735, an 8% decline. Lexus alone had three of the top 10 models, with the LS 460 full-size sedan and HS 250h hybrid both experiencing 3% price drops.

The top used-car price gains in May were more closely grouped than in prior months, ranging from 2% to 4%. Most of the top 10 advanced 2%, but two pickup trucks — the full-size Ram 2500 and compact GMC Canyon — saw 4% and 3% increases, respectively.

The chart below details the top 10 used cars from the 2010 to 2012 model years with the biggest price drops — as well as the 10 with the biggest increases. To be eligible for the list, a model had to have 500 cars in Cars.com's national inventory.

Recall Alert: 2010-12 Chevrolet Colorado and GMC Canyon

GM is recalling 118,800 model-year 2010-12 versions of the Chevrolet Colorado and GMC Canyon pickup trucks due to problems with the trucks' hood latch system, according to the National Highway Traffic Safety Administration.

The affected vehicles were manufactured from Nov. 9, 2009, through Aug. 28, 2012 (check your vehicle's build date on a sticker on the driver-side doorjamb) and could be missing a secondary hood latch. If the main hood latch is not engaged, the hood could open unexpectedly, increasing the risk of a crash.

GM will notify owners starting Jan. 17, 2013, and dealers will inspect the vehicles and replace any affected hoods for free. Owners can call Chevrolet 800-630-2438, GMC at 866-996-9463 or NHTSA's vehicle safety hotline at 888-327-4236 for more info.

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GM Confirms New GMC Canyon, Plus Nine New or Updated Cars by End of 2013

In a conference call minutes ago, GM confirmed a redesigned GMC Canyon will roll off the assembly line at the automaker's Wentzville, Mo., plant at some point down the road. Officials at Buick and GMC also confirmed nine new or refreshed products coming from the brands by the end of 2013.

We've already seen the refreshed GMC Acadia and Buick Enclave, as well as the new Buick Encore. But GM confirmed updates, as expected, on GMC's full-size trucks and SUVs: the GMC Yukon and Yukon XL SUVs, as well as the Sierra and Sierra HD pickups. Expect significant updates or full redesigns to the Buick Regal and LaCrosse, too.

"The Terrain and Verano will be the oldest non-commercial models for each brand in the showroom at the end of 2013," Buick and GMC marketing chief Tony DiSalle told reporters.

Recall Alert: 2011 Chevy Colorado, 2011 GMC Canyon

GM is recalling 4,674 Chevrolet Colorado and GMC Canyon compact pickup trucks from the 2011 model year because the windshield wipers may become inoperative, according to the National Highway Traffic Safety Administration.

In the affected vehicles, the wipers’ motor crank arm nut may loosen if the wipers are operated with a build-up of snow or ice or if the wipers are turned on with a dry windshield. If the nut is loosened enough, the wipers could stop working. This could reduce driver visibility and increase the risk of a crash.

The recall is expected to begin this month. Dealerships will secure the nut free of charge. For more info, owners can call Chevrolet at 800-630-2438, GMC at 866-996-9463 or NHTSA’s vehicle safety hotline at 888-327-4236.

GM Plant Shuts Down Over Japanese Parts Delay

We have just received the first official word from a U.S.-based automaker that the aftereffects of the Japanese earthquake and tsunami could significantly alter production here.

General Motors announced it would suspend production at its Shreveport, La., assembly plant — where the Chevrolet Colorado and GMC Canyon small pickup trucks are made — for the week of March 21.

The specific parts that are causing the shutdown weren’t released, but the two trucks feature a five-speed manual transmission produced by Aisin, a major transmission supplier based in Japan.

Other U.S. plants have canceled overtime shifts but haven’t suspended all production.

The pipeline of parts to the U.S. relies on shipping across the Pacific Ocean. We may start seeing the incoming parts simply not showing up and disrupting U.S. operations.

The Shreveport plant is scheduled to be shut down in 2012 as part of GM’s restructuring plans, and the two trucks made there see minimal sales. As of March 1 there was a 58 day supply of the Chevy Colorado and 58 day supply for the GMC Canyon. The industry average was 60 days as of March 1.

Next-Gen Chevy Colorado, GMC Canyon May Come to North America

The midsize pickup truck segment does not share in the rapid evolution and competitiveness enjoyed by its full-size brethren (such as the Ford F-150). In fact, the last time a major design cycle happened in the category happened way back in 2004-05, when the next-generation Toyota Tacoma, Nissan Frontier and Dodge Dakota debuted.

The category definitely could use a shot of adrenaline, and General Motors may be the one to do it, according to PickupTrucks.com.

GM’s midsize pickups — the Chevrolet Colorado and GMC Canyon — are in the midst of a complete revamp. The two nameplates will share an all-new platform and are expected to make their global debut this year, sometime, in Thailand. Originally, the automaker planned to discontinue the pickups in the U.S. but has since revised its strategy to include the vehicles, which will probably go on sale here sometime in late 2013 or early 2014.

Read the full story at PickupTrucks.com.

Work on Next-Gen Colorado and Canyon for North America Under Way, Sources Say (PickupTrucks.com)

Recall Alert: 26,751 GM Trucks, SUVS

General Motors has expanded an earlier recall from last month over a potential problem with the rear axle/suspension, according to the National Highway Traffic Safety Administration.

Affected models include the 2011 Cadillac Escalade, Escalade ESV and Escalade EXT; Chevrolet Avalanche, Colorado, Silverado, Suburban and Tahoe; and GMC Canyon, Sierra, Yukon and Yukon XL. While the initial recall affected only 1,262 vehicles (and all the vehicles were trucks), now 26,751 vehicles (including SUVs) are affected.

In the affected vehicles, the rear axle cross pin was not manufactured correctly. As a result, the pin could fracture and become displaced within the rear axle, causing the axle to lock up. This condition could make maintaining direction control difficult, increasing the likelihood of an accident without prior warning.

GM is expected to begin the recall Jan. 25. Dealerships will install a new rear axle cross pin free of charge on affected vehicles. For more info, owners can contact Cadillac at 866-982-2339, Chevrolet at 800-630-2438, GMC at 866-996-9463 or NHTSA's safety hotline at 888-327-4236. Owners can also go to www.GMownercenter.com.

Recall Alert: 185,000 Compact GM Trucks over Child Seat Defect

General Motors is recalling 185,000 compact pickup trucks that share the same the platform because the child-seat anchor system doesn’t comply with federal safety standards, according to the National Highway Traffic Safety Administration.

Nameplates involved in the recall include the 2004-2011 Chevrolet Colorado and GMC Canyon twins, as well as the discontinued 2006 Isuzu i-280 and i-350 and 2007-2008 Isuzu i-290 and i-370.

Recall Alert: 185,903 GM Trucks

GM has issued a recall for 185,903 pickups, including the Chevrolet Colorado from the 2004-09 model years, the GMC Canyon from the 2004-09 model years, the 2006 Isuzu I-280, the 2006 Isuzu I-350, the Isuzu I-290 from the 2007-08 model years and the Isuzu I-370 from the 2007-08 model years, according to the National Highway Traffic Safety Administration.

The recall is due to a brake-lamp switch that may not work because of contamination in the switch. This could mean that the brake lamps won’t work or will stay continuously lit, either of which could pose a safety hazard to other drivers who can’t see what the driver intends to do.

The recall applies to vehicles either originally sold or registered in Alabama, Arizona, Florida, Georgia, Hawaii, Louisiana, Mississippi, Nevada, New Mexico, Puerto Rico, South Carolina, Texas, U.S. Virgin Islands and Utah.

GM says the new component for the switch will not be available until February 2010, so it will offer special coverage for all registered vehicles. Owners who have problems can get free repairs but must return to a dealership when the newly designed parts become available. The inspection and replacement part will both be free.

Owners may contact Chevrolet at 800-630-2438, GMC at 866-996-9463, Isuzu at 800-255-6727 or the NHTSA vehicle safety hotline at 888-327-4236.

2009|Chevrolet|Colorado

2009|GMC|Canyon

Recall Alert: 27,188 GM Vehicles

GM has issued a recall for 27,188 vehicles from the 2009 model year, according to the National Highway Traffic Safety Administration. Affected models include the Cadillac Escalade, Escalade ESV and Escalade EXT; the Chevrolet Avalanche, Colorado, Suburban and Tahoe; and the GMC Canyon, Yukon and Yukon XL.

The recall is due to a problem in the fuel system control module, which has a vulcanizing seal that may separate, allowing water to seep into the module. The water could cause a short circuit, possibly making the engine hard to start or causing it to not start at all or stall while driving.

Dealers will install a new fuel system module for free. Owners may contact Cadillac at 866-982-2339, Chevrolet at 800-630-2438 and GMC at 866-996-9463, or NHTSA’s hotline at 888-327-4236.