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Here’s how Canadians are approaching car buying

Auto Service World

However, 53 per cent of Canadians believe their financial situation will improve in the next six months, marking an increase from 45 per cent in 2023. Canadians are also increasingly open to both new and used vehicles. Despite this, cars still maintain a significant presence, making up 49 per cent of all vehicle searches.

Car 275
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Odomoters keep rising, boosting aftermarket

Auto Service World

As the age of cars and light trucks continue to rise, vehicle odometer readings continue to climb, driving growth in the aftermarket for internal combustion engine (ICE) vehicles. averaged approximately 14,000 more odometer miles in 2023 than they did 10 years earlier. The average age of a vehicle in the U.S.

Trucking 249
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CARFAX adds month-over-month data to used-car price index; how that plays out in November

Auto Remarketing

With that in mind, CARFAX has added month-over-month insights to its Used Car Index reports, the first major change in these recaps since their April 2023 debut. They were followed by pickup trucks (down 6.1%), SUVs (down 5.2%), luxury SUVs (down 4.6%) and cars (down 4.5%). Luxury car prices were down 2.1%

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Rare-Color Dodge Challenger Demon 170 Jailbreak Sells for $450,000; Dealer Pulls Off Heist

autoevolution

This 2023 Dodge Challenger SRT Demon 170 is one of just 40 cars built under the Demon 170 Jailbreak program, having originally cost $150,946 to purchase. Normally, one would expect such a vehicle to make some money on the used car market, maybe even an extra $50,000 to hit that sweet $200k mark.

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Used-car sales climb about 11% & move at faster clip

Auto Remarketing

It was March momentum for the retail used-car market. million used vehicles, which was a 10.9% gain from March 2023 and up 18.5% million used vehicles, compared to 4.29 million the same period of 2023, Cox data shows. million used vehicles, compared to 4.29 In February, used sales were up 4.1%

Used Cars 105
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Used-car sales beat year-ago figures, but slow down after tax season

Auto Remarketing

Used-car retail sales in April were ahead of prior-year figures, but the market was challenged, given the end of tax season and the hurdles of low supply, affordability and high interest rates. million used vehicles last month, which beat April 2023 by 4.8% million used vehicles last month, which beat April 2023 by 4.8%

Used Cars 105
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Supply and demand shows up in rising used-car prices

Auto Remarketing

And as the law of supply and demand decrees, used car prices are beginning to rise, according to CarGurus’ August 2024 Intelligence Report , released this week. The report showed used-car inventory levels down in August for the third consecutive month, dropping 2% below last year and 7.4% below August 2022 levels.