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Usedcar prices continue to decline as availability increases and new car prices have stabilized in the Canadian automotivemarket, according to analysis from AutoTrader.
However, amid these challenges, used vehicle sales present a bright spot. While the broader market may struggle, usedcar sales have remained steady, providing a significant opportunity for dealerships to focus on areas within their control to drive more predictable profit.
Brisbane, with its bustling automotivemarket, offers plenty of options. This, however, can make your car buying journey more challenging. This guide will walk you through the process of finding the most reliable usedcar dealers in River City, ensuring you drive away with a great vehicle and peace of mind.
The automotive industry is undergoing a generational transformation with the continued use of electric vehicles (EVs). As more consumers embrace the benefits of EVs, the usedcarmarket is also seeing an influx of these eco-friendly vehicles.
The automotive industry is undergoing a generational transformation with the continued use of electric vehicles (EVs). As more consumers embrace the benefits of EVs, the usedcarmarket is also seeing an influx of these eco-friendly vehicles.
It was good news, bad news for the retail used-carmarket 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%
In today’s volatile automotivemarket, finding the best usedcar value can feel like searching for a needle in a haystack. With new car prices pushing the boundaries of belief, and usedcar prices constantly fluctuating, it’s time to ask the Jalopnik audience what they think the best value on the usedmarket is.
The Mechanic Doctor - Resources for Amateur and Pro Auto Mechanics If you are looking for a new or usedcar, you might be wondering how to get the best deal possible. One way to do that is by usingautomotivemarket analysis. Automotivemarket analysis can save you money in several ways.
He knows the housing market and house music. He knows cars and The Cars. An economist who moved from the real estate market to the automotivemarket while moonlighting as a DJ Cox Automotive chief economist Jonathan Smoke is among our first-ever honorees in the Automotive Intelligence Awards: Industry Analysts program.
While Gen Z currently constitutes a small segment of the automotivemarket, making up 26% of the global population, as more of them become driving age, their influence will grow. This is a pivotal moment for the automotive industry. To do this, the perception of used-car parts need to change.
As we review the vehicle inventory, carryover, and markdown trends from the Lotlinx Q4 2024 AutomotiveMarket Report , the automotivemarket has revealed several important insights into the ongoing challenges and opportunities for dealerships and OEMs. The used vehicle market also saw growth in hybrid and EV sales.
Usedcar day supply is expected to remain tight and steady. Furthermore, economic pressures will continue to impact the automotivemarket in 2025. The usedcarmarket is predicted to remain robust, but luxury and larger-sized vehicles may be challenging to sell.
That includes a “normal seasonal trend” when it comes to depreciation in the wholesale vehicle market, along with “modest growth trajectory” in the new-car segment, Black Book said in a report Monday. The industry will undergo a gentle yet positive trajectory in both the new and used segments.”
Usedcar day supply is expected to remain tight and steady. Furthermore, economic pressures will continue to impact the automotivemarket in 2025. The usedcarmarket is predicted to remain robust, but luxury and larger-sized vehicles may be challenging to sell.
Let’s explore the factors driving inflation in the automotivemarket and discuss strategies for dealers to support their customers through these difficult economic conditions. According to Cox Automotive’s June 2024 Auto Market Report, the average new car loan interest rate is 10.1% for usedcar loans.
In the automotive sales industry, a significant shift is underway, marked by the evolution of vehicle appraisal tools that are enhancing accuracy and instilling confidence among usedcar managers. Traditionally, dealerships have relied on inventory tools that usemarket data to price their inventory.
As the world gradually emerges from the shadows of COVID-19, a significant shift in the car retail landscape is becoming increasingly apparent, particularly in the electric vehicle sector. The pandemic has accelerated changes in consumer behavior and expectations, leading to a notable shortage in the new- and used-car day’s supply.
Vehicle History Report Canada (VHRC) Vehicle History Report Canada (VHRC) is a service that provides detailed vehicle history reports, primarily catering to the Canadian automotivemarket. This platform provides vital information to people in Canada who are interested in buying usedcars.
In the face of uncertainty in the automotivemarket, the American economy in general and the nation’s political future, the outlook of car dealers remains remarkably steady, according to the latest Cox Automotive Dealer Sentiment Index. Of course, that’s not necessarily a good thing.
It’s a gauge of how many vehicles are trending to be sold that year and helps us compare sales volume against other points in history — or does it? Something the automotive SAAR doesn’t capture is the part that usedcar sales play in your store’s profitability. Hold The Door!
Here’s more evidence the used-carmarket is a complex place nowadays. According to the Q3 Quarterly Vincensus Report , Lotlinx acknowledged while certain brands face issues with high day supply and a largely aging inventory, others are struggling with supply constraints.
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