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Canadians are also increasingly open to both new and used vehicles. Nearly half (47 per cent) of used-car buyers consider new vehicles, while 36 per cent of new-car buyers are exploring used options. Despite this, cars still maintain a significant presence, making up 49 per cent of all vehicle searches.
But the marketing and data software firm understands why cars have been flying out of dealerships for the past month. On a monthly basis, the State of the Dealer report strives to answer the question all automotive dealers are wondering: Is it going to be harder or easier to sell a car in the next 30 days? the report began.
After all, CARFAX opines in an analysis around its latest price index that supply of late-model vehicles has fallen (thanks to the 2021 leasing declines) and used-car demand has climbed thanks in part to lower interest rates and recent hurricanes have managed up to 347,000 cars — fueling the need for vehicle replacement.
To celebrate the 25th anniversary of UsedCar Week, Cherokee Media Group has launched the UCW Hall of Fame to recognize executives who have played an important role in the development, growth and success of UsedCar Week over time. 18 in Scottsdale, Ariz. 18 in Scottsdale, Ariz. Listen to the conversations below.
Buying a usedcar can be an exciting yet daunting experience. … The post A Comprehensive Guide: What to Look Out for When Buying a UsedCar appeared first on Auto Service World.
When purchasing a usedcar, it is important to take into account both the mileage and age of the vehicle. These two factors are vital in evaluating the condition of the car. In this article, we will explore the importance … The post Buying a UsedCar: Mileage vs. Age, What’s More Important?
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%.
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. “Older cars and light trucks generate more aftermarket product use per mile than newer models,” the report said.
With tight supply and a flat-feeling used market, I asked, how did he turn it into the driver of his record month? The reason most salespeople struggle to push usedcars isnt because they dont want to its because they dont understand how to sell what they dont know. Lot walks are non-negotiable.
The Canadian used vehicle market is facing a significant supply shortage of younger off-lease vehicles, expecting to negatively impact the used sales market. Off-lease vehicles are a key source of product for the usedcar market.
In today’s competitive usedcar market, dealerships can’t afford to rely on guesswork during vehicle appraisals. Inaccurate appraisals can hurt profits before the car even hits the lot. In the usedcar market, predictability is the foundation of profitability. With margins tightening, precision becomes essential.
Buying a usedcar has traditionally been associated with stress, long waits, and confusing paperwork, but Cars4Us is changing all that. As Australia’s leading usedcar platform, Cars4Us has revolutionised the process by making it easier, faster, and more transparent for buyers.
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. They can help you snag the most popular and best-priced usedcars your money could buy.
For anyone passionate about cars and interested in enhancing their appeal and value, auto detailing is an art form with the potential to increase a vehicles value significantly. Potential buyers often notice A cars exterior, and restoring it to a like-new condition can significantly impact its perceived value.
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 usedcar market is also seeing an influx of these eco-friendly vehicles. This technology makes EV’s the perfect car for environmentally based consumers.
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 usedcar market is also seeing an influx of these eco-friendly vehicles. This technology makes EV’s the perfect car for environmentally based consumers.
With that in mind, CARFAX has added month-over-month insights to its UsedCar 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%
The usedcar market, for the most part, has shifted back in favor of the buyers instead of the sellers. With deals to be had on most of your typical cars and incredible savings on EVs, it also means that some dealers are pulling out all the stops to get you in the door even if the real price isnt what it appears Read more.
In today’s world, finding a car that is both eco-friendly and budget-friendly can be a challenge, especially for families. However, there are several usedcars on the market that offer great fuel efficiency, low emissions, and a comfortable ride for the whole family. Why Choose an Eco-Friendly Car?
The usedcar market, for the most part, has shifted back in favor of the buyers instead of the sellers. With deals to be had on most of your typical cars and incredible savings on EVs, it also means that some dealers are pulling out all the stops to get you in the door even if the real price isnt what it appears Read more.
Electric vehicles are changing how we think about cars, including how they are maintained and detailed. At ATC Cambridge, students gain hands-on experience working on various vehicles, preparing them to handle the unique needs of electric cars. However, EVs bring their own set of challenges and considerations.
While the Southeast recovers from the devastating impacts of Hurricanes Helene and Milton, their lingering effects are still being felt in the usedcar market. For those in the market for a used vehicle, this means extra caution is necessary. earlier this year.
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.
If you’ve ever marveled at how cars on usedcar lots seem to gleam effortlessly in the sunlight, it’s likely thanks to a professional car wax. For students in auto detailing training, learning to wax a car is an essential skill beyond simply making a vehicle look good.
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. “The The return of holdout buyers should help bolster the supply of more affordable, older used vehicles.
It was March momentum for the retail used-car market. million used vehicles, which was a 10.9% million used vehicles, compared to 4.29 million used vehicles, compared to 4.29 Affordability matters more than ever to consumers, and declines in used-vehicle prices help offset higher interest rates,” Robb said.
Tesla and Stellantis made the cars with the most problems between 2014 and 2019, according to data compiled by Consumer Reports. As you might probably expect, the most reliable cars from that period all wear Japanese automotive logos. Here's what the nonprofit organization uncovered.
When it comes to used-car retail prices, the third quarter pointed to a “return to normalcy,” a trend that was particularly evident by this metric: late-model usedcars have prices that are “notably below” those of new vehicles. drop in used vehicle prices compared to the typical 0.7% year-over-year drop.
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. Citing data from its vAuto business unit, Cox Automotive estimated that used-vehicle retail sales in February climbed 18% month-over-month and 5% year-over-year.
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%.
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.
When that shopper is waffling over whether the timing is right to buy a usedcar, here’s a selling point a dealer can pass along to that indecisive consumer, courtesy of CARFAX. As it stands, retail prices for used vehicles have slowed significantly year-over-year: used SUVs are down 9.5%
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-car sales by dealers, compared to 5.63
How Dennis Dillon Auto Group Built a Winning Private-Party Buying Program Most car dealers think the best used vehicles are found at auctions. We talked with their usedcar manager, Bryan Bough, about their private-party buying program. Key Insight: Your salespeople should focus on selling cars, Bryan emphasized.
Almost half of used-car shoppers say the oldest vehicle they would consider is in the 3- to 5-year-old range, according to the May Industry Insights Report from Cars Commerce. Here’s how that shakes out in the Cars Commerce data set. years) was up 7.2%, according to Cars Commerce. years – took a 13.2%
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.
Cars Commerce’s latest look at the used-vehicle market is an old story. 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. from last year, while cars in the $10,000-$19,000 range, averaging 7.3 years old, rose 16.8%.
A while back, one automaker ran commercials saying something like, “The best new cars make the best usedcars.” Consumer Reports recently put that thinking to the test with an evaluation of the brands and models that make the best used purchases , and there are few surprises with the top brands.
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%
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 usedcar market, maybe even an extra $50,000 to hit that sweet $200k mark. continue reading. )
The muscle car game is currently at its lowest, as Ford remains the sole player with the S650 generation Mustang. As a result, muscle car shoppers looking for a brand-ne. continue reading. )
Photo by Tima Miroshnichenko When selling a usedcar, first impressions matter. That’s where car detailing comes in. Detailing is more than just a regular wash; it involves a thorough deep clean of both the interior and exterior , restoring your car’s look and feel to make it as appealing as possible.
Its not a surprise to find full-sized pickup trucks at the top of a list of Americas 100 best-selling used vehicles. 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.
An exclusive Ferrari that the customers battled for when La Scuderia unveiled it around four years ago, ended up on the usedcar market less than two years after the model rolled off the production line in Maranello. This is probably a once-in-a-lifetime opportunity. The SF90 Stradale was unvei. continue reading. )
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