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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.
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%.
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?
TO READ THE FULL STORY BECOME A MEMBER Login The post New-car incentives re-emerge to combat affordability crisis; analysts cautiously watching impact to usedcars appeared first on Auto Remarketing. That was especially evident towards the end of 2024.
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. If we dont prioritize inventory knowledge, our teams will naturally default to selling new cars. Heres how you as a leader can help your team crush usedcar sales: 1.
In today’s competitive usedcar market, dealerships can’t afford to rely on guesswork during vehicle appraisals. In the usedcar market, predictability is the foundation of profitability. Accurate appraisals are the key to a more profitable future in usedcar sales.
The difference between the price of a new car during the third quarter and that of a usedcar is enough money to … well … buy a car. Specifically, new vehicles sold for an average of $47,542 during Q3, which is $20,365 higher than the average price buyers paid for usedcars ($27,177), according to the Edmunds data.
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.
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. Ready to find your next car?
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 Qualities of Trustworthy Dealers Knowledge is power in the usedcar market, and understanding the local landscape is your first step towards a successful purchase.
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.
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. Olsen listed the following as “open questions” that could impact activity among used- and new-car buyers. If so, how will that affect used-car prices?
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.
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.
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.
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.
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.
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 average trade-in age for used vehicles increased to 9.4 What does it mean for used-car sales?
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.
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 Affordability matters more than ever to consumers, and declines in used-vehicle prices help offset higher interest rates,” Robb said. In February, used sales were up 4.1%
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. This trend highlights consumers continued search for the right balance between affordability and vehicle needs.
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.
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.
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%.
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
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.
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%
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%
Plus, Von Busch goes into detail about Experian’s special report on the used-car market. The post PODCAST: Kirsten Von Busch on ‘memorable’ NADA Show, NOLA’s hidden gems & Experian’s used-car report appeared first on Auto Remarketing. Listen to the conversation in the window below.
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.
In fact, Cox Automotive found that “reporting was more disrupted than actual sales,” but noted that July will likely make up for June’s disruption in the used-car market. And even with disruption, dealers increased.
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.
The wholesale used-car market is still recovering from the plunge in new-vehicle sales during the pandemic, say industry experts. Auction volumes are rising steadily though.
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%
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.
If you're a fan of early-2000s European performance sedans, the S-Type R is a rarer, more exotic BMW M5 or Mercedes-Benz E55 AMG alternative that's surprisingly cheap on the current usedcar market. Introduced in late 1998 as a 1990 model, the mid-size luxury sedan sought to bring ba. continue reading. )
And for many, the used-car market is the only or best option. That’s one way to explain why year-to-date used retail sales through August have climbed 4.5% — growth that has occurred despite the headwinds of high prices and steep interest rates, says Cox Automotive. Folks still need personal vehicles.
Filed under: Car Buying , UsedCar Buying , Automotive History , Maintenance , Ownership , Classics Continue reading Here's $25,000, import a usedcar from Europe Here's $25,000, import a usedcar from Europe originally appeared on Autoblog on Thu, 12 Oct 2023 10:02:00 EDT.
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%
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