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The study, conducted in August 2024, found that vehicle purchase intent has remained stable compared to the previous year, with 27 per cent of Canadians planning to buy a vehicle in the next six months. Canadians are also increasingly open to both new and used vehicles.
Over the next 10 years, car odometers accumulated miles more rapidly than those of light trucks, increasing the differences in average odometer readings between the two. Initial findings for 2024 indicate this trend is ongoing. As for what this means for the aftermarket, it signals strong times ahead.
of Equipped Retail Typical new-car prices in 2022, according to Black Book, new-vehicle incentives have climbed the past two years. That was especially evident towards the end of 2024. After hitting a trough of 2.9%
Filed under: Car Buying , UsedCar Buying , Auto Repair , Maintenance , Ownership Continue reading Best usedcars for the money in 2024 Best usedcars for the money in 2024 originally appeared on Autoblog on Wed, 31 Jan 2024 14:33:00 EST. Please see our terms for use of feeds.
Is now the right time for used-car shoppers to strike? There was some year-over-year easing in retail used-car prices last month, according to the latest CARFAX UsedCar Index report , which showed declines in six of the seven segments included in its analysis. month-over-month, prices for cars fell 0.9%.
The retail used-car market, including the certified pre-owned segment, showed some real strength last month, improving from both year-ago and January figures. This after what appeared to be sluggish start to 2024. In the first month of 2024, however, certified sales were off to a slow start. million units. year-over-year.
Edmunds director of insights Ivan Drury highlighted multiple tailwinds that could help the retailing of usedcars. The return of holdout buyers should help bolster the supply of more affordable, older used vehicles. But as 2024 resembles a more familiar market, trade-ins of older vehicles have begun to return,” he continued. “In
General Motors retired the Camaro at the end of 2024, with no direct successor in sight. The American automotive giant only said that this is not the end of the Camaro story, though no one really knows what the future holds for this nameplate. Some believe it will return shortly to pick a fight with. continue reading. )
The slowdown in supply of later-model used vehicles is already having an impact in the retail car market, according to industry analyses released this month. Cars Commerce said in its latest Industry Insights Report that used-car inventory was up 1% year-over-year in July, due mostly to inventory of sub-$30,000 vehicles climbing 9%.
The CARFAX UsedCar Index made its debut a year ago, and in an analysis recapping the latest installment , the company pinpointed three retail used-car pricing trends that have stood out. Tom Kontos, the chief economist at ADESA, has noticed a similar flattening in wholesale used-car prices. year-over-year.
And as the law of supply and demand decrees, usedcar 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.
To determine the least reliable usedcars you can buy in 2024, the team from the ultra-famous "carwow" YouTube channel teamed up with a leading UK aftermarket warranty provider. The data comes from thousands of detailed car breakdowns, so we'll discuss average fixing costs but also the most expensive repairs.
It was March momentum for the retail used-car market. million used vehicles, which was a 10.9% Through three months of 2024, dealers have sold approximately 4.38 million used vehicles, compared to 4.29 The year began with used-car sales by dealers falling 6.4% In February, used sales were up 4.1%
Filed under: Honda , Toyota , Car Buying , UsedCar Buying , Auto Repair , Ownership Continue reading 12 new cars that last the longest in 2024 12 new cars that last the longest in 2024 originally appeared on Autoblog on Wed, 14 Feb 2024 12:15:00 EST. Please see our terms for use of feeds.
However, we now have another study that proves these cars are the best shot anyone has at losing money with automobiles. Conducted by iSeeCars, it analyzed the prices of "800,000 5-year-old usedcars sold from March 2024 to February 2025 to determine 5-year depreciation rates." continue reading. )
Filed under: Car Buying , UsedCar Buying , Auto Repair , Driving , Maintenance , Ownership , Truck Continue reading Best used pickup trucks for the money in 2024 Best used pickup trucks for the money in 2024 originally appeared on Autoblog on Wed, 31 Jan 2024 14:55:00 EST. Please see our terms for use of feeds.
million usedcar sales from the past five model years to identify the most popular usedcars bought in 2024. As has become expected, Fords F-150 pickup was the top-selling used vehicle in the U.S. 1-selling used vehicle in the 50 largest U.S. iSeeCarss analysis also identified the No.
The used vehicle market in 2024 was a rollercoaster, influenced by a mix of factors, according to DesRosiers Automotive Consultants. A survey of UsedCar Dealers Association members highlighted a stark contrast between independent used vehicle dealers and franchised new vehicle dealers.
Filed under: Car Buying , UsedCar Buying , Auto Repair , Driving , Maintenance , Ownership , Crossover , SUV Continue reading Best used SUVs for the money in 2024: Long-lasting, reliable machines Best used SUVs for the money in 2024: Long-lasting, reliable machines originally appeared on Autoblog on Wed, 31 Jan 2024 14:40:00 EST. Please see our terms (..)
It was good news, bad news for the retail used-car market in January. Used-car demand fell over 7% from January 2023, but was up almost 14% from December. And both supply of and demand for used EVs is rising, and prices are softening. Used-car demand fell 7.6% Used prices dropped 2.9%
As in, older cars have become the dominant force driving supply and vehicle values, according to the company’s monthly Industry Insights Report for August. The report, based on data from Car Commerce’s platforms, including Cars.com, Dealer Inspire and AccuTrade, shows used-car inventory up 2.3%
But it’s not exactly one the used-car business — and especially the certified pre-owned segment — is looking forward to. TO READ THE FULL STORY BECOME A MEMBER Login The post Approaching off-lease anniversary will affect used-car market, Cox experts say appeared first on Auto Remarketing.
In this installment of Auto Remarketing’s 40 Under 40 franchise, we feature the 2024 honorees in the “40 Under 40: Industry” program, which is sponsored by IAA and focuses on consignors, auctions, auto finance, vendors, tech companies, associations and other players within the used-car space.
. “We’re looking at poor used supply the next four years, he warned at the Talk Auto event in Vaughan, Ontario, in the fall. So when examining whether or not manufacturers will start to bring those vehicles into showrooms as usedcars, its not a bright picture. million vehicles, Ross observed.
Amazon is planning to enter the usedcar market and help dealers sell pre-owned vehicles. The online retail giant has been selling new Hyundais since 2024, based on a partnership announced at the Los Angeles Auto Show in November 2023. Nowadays, you can buy usedcars everywhere.
Now, 2024 was an unusual year with one of the mildest winters recorded in recent history. Similarly, a sudden drop in usedcar prices from post-COVID highs resulted in many vehicles not being repaired. Industry revenue was down or flat last year across competitors both OEMs and aftermarket across both the U.S. and Canada.
However, owners are prone to make a fortune selling their cars, the last HEMI-powered Challengers. A 2023 example has just hit the usedcar market and seems ready to go way above the MSRP. The automaker killed the HEMI and, with it, sent its most potent street-legal model ever through the back door.
Filed under: Green , Tesla , UsedCar Buying , Auto Repair , Electric Continue reading Hertz's Tesla liquidation sale likely means more depreciation for used EVs Hertz's Tesla liquidation sale likely means more depreciation for used EVs originally appeared on Autoblog on Tue, 16 Jan 2024 18:03:00 EST. Please see our terms for use of feeds.
Filed under: Car Buying , UsedCar Buying , Auto Repair , Maintenance , Ownership Continue reading EVs fare poorly in J.D. Power quality survey; Ram and Porsche top the rankings originally appeared on Autoblog on Thu, 27 Jun 2024 16:31:00 EDT. Please see our terms for use of feeds.
Looking for an affordable usedcar? The latest research from iSeeCars shows used EV prices fell 15.1% million usedcars sold from February 2024 to February 2025 found the average price of 1- to 5-year-old used vehicles have stabilized, down less than 1.5% You might want to go electric.
We continue our episodes of the Auto Remarketing Podcast originating from UsedCar Week 2024 in Scottsdale, Ariz., Listen to the episode in the window below and stay tuned for more from UCW 2024. with a discussion focused on investment funding coming into automotive and what venture capitalists think of the industry.
The 2024 model is still listed on the official website next to the lesser derivatives, yet this story isn't dedicated to a brand-new copy but to a used one. The Ram 1500 TRX is on its dying bed, as the automaker has decided it to send it off with the Final Edition. What we ha. continue reading. )
Filed under: Car Buying , UsedCar Buying , Maintenance , Ownership Continue reading What is ceramic coating for cars? What is ceramic coating for cars? originally appeared on Autoblog on Sun, 1 Sep 2024 11:00:00 EDT. Please see our terms for use of feeds. Permalink | Email this | Comments
In the retail market, prices for used vehicles in most segments are down at least 10% from the apex in spring 2023, according to the latest CARFAX UsedCar Index. Car prices are off 8.7% from the peak, with luxury cars down 5.9%. May was the high point for used-car prices in 2023. “May
We continue our episodes of the Auto Remarketing Podcast originating from UsedCar Week 2024 in Scottsdale, Ariz., Listen to the episode in the window below and stay tuned for more from UCW 2024. with a lively debate about the future of electric vehicles.
Filed under: Car Buying , UsedCar Buying , Maintenance Continue reading The most expensive vehicles to buy parts for in 2024 The most expensive vehicles to buy parts for in 2024 originally appeared on Autoblog on Thu, 8 Feb 2024 14:00:00 EST. Please see our terms for use of feeds.
Used-car profits soared during the pandemic. But as the market turns the corner toward the end of 2024, “used vehicles may be finding their new normal on profitability.”
We wrap up our episodes of the Auto Remarketing Podcast originating from UsedCar Week 2024 in Scottsdale, Ariz., The conversation features Brennan Hamilton of Rapid Recovery Agency, John Sibbitt of RDN Clearplan and UsedCar Week Hall of Famer Jeremiah Wheeler of DRN|MVTRAC|SCM.
“Normal” hasn’t often been a word to describe the auto industry in the last four years, but 2024 could be the return of stability and typical market patterns. The data suggests a promising bounce back for the automotive market in 2024,” Black Book chief data officer Alex Yurchenko said in a news release accompanying the report.
Those are not necessarily words used to describe the used-vehicle market over the last five years, but 2024 closed with analysts calling wholesale price patterns exactly that.
The latest numbers from Cars Commerce show a new-car market in flux, with prices falling as excess inventory builds up. In the used-car world, on the other hand, all is calm and steady. The age of those usedcars is steadily increasing, which means consumers are now getting an older car for the money than they had before.
In Cars Commerce’s most recent Industry Insights Report , industry and marketplace analytics principal David Greene noted the contrast between the steady used-car market with the relative volatility of the current new-car environment. So, why isn’t the used-car sector experiencing the same “adjustment” as new cars?
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