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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.
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.
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%
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.
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.
iSeeCars is seeing something it hasnt seen in more than two years: rising used-car prices. The automotive search engine and research website said its latest study showed the average used-vehicle listing price in March was up 1% from March 2024, the first year-over-year increase since October 2022.
As the first quarter of 2025 ended, all was calm for used-vehicle retail prices. But, Cars Commerce reported in its Q1 2025 Auto Market Review , that might have been the calm before the storm. The report, based on data from the companys Cars.com, Dealer Inspire and AccuTrade platforms, showed used-car list prices fell 0.9%
Although the year began with declines in the average usedcar price, the trend quickly shifted. According to the CarGurus UsedCar Price Index , which tracks millions of usedcar prices, prices drifted down from December to February. overall, since the start of the year.
Usedcar prices are rising. For most usedcars, anyway. million usedcars showed the Model S one of four Teslas on the list lost an average of 17.2% million usedcars showed the Model S one of four Teslas on the list lost an average of 17.2% The analysis of the retail prices of 1.4
New-car inventory is falling while prices are elevated and likely to rise more as the tariff era continues. And that’s good news for the used-car sector. The used-vehicle sector is continuing to benefit from the turbulence in the new-vehicle marketplace,” ZeroSum vice president of dealer success Josh Stoll said.
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.
Usedcars are a hot item these days even as their prices skyrocket. The latest data from CARFAX shows a surge in both used-car sales and prices that far outpaces typical seasonal patterns. This shift in consumer behavior will drive up usedcar prices as well, creating a cascading effect across the market.
But the supply of vehicle inventory, already an issue in the used-car sector, looms as a factor in both the short and long term. TO READ THE FULL STORY BECOME A MEMBER Login The post Tariffs expected to take a toll on used-car supply now and later appeared first on Auto Remarketing.
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%.
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.
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.
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 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.
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%
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.
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%.
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%
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.
Like an accent or dialect, the used-car market can vary depending on where you (or yall or yinz) are in the U.S. And CARFAX is accounting for this patchwork of market dialects, so to speak, by adding in regional breakdowns to its monthly index of retail used-car prices. year-over-year, while cars were up 0.6%
Car Pros Automotive Group announced that Car Pros Honda El Monte earned the Sales Circle of Excellence Award from American Honda Motor Company for the third year in a row. based on 2024 new vehicle sales volume. Car Pros Honda El Monte earned the distinction of being a top Honda dealership in the U.S. It moved from no.
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.
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 , 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
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 (..)
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. )
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.
Filed under: Weird Car News , Car Buying , Car Dealers , UsedCar Buying Continue reading Thousands of car dealers crippled by 2-day cyberattack Thousands of car dealers crippled by 2-day cyberattack originally appeared on Autoblog on Thu, 20 Jun 2024 11:44:00 EDT.
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. Congrats to all!
“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. “The
. “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.
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.
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.
Among those top findings, CarGurus indicated used inventory has reached multi-year highs, but value has been redefined. For shoppers in the market for a usedcar costing less than $20,000, analysts acknowledged options are increasingly older and higher mileage.
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