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The usedvehicle market is facing significant supply challenges and a course correction isnt expected for many years to come. Daniel Ross, senior manager of industry insights and residual value strategy at Canadian Black Book described the current state of the usedvehicle market as a “horror story.”
Electricvehicles are changing how we think about cars, including how they are maintained and detailed. If youre considering auto detailing training , understanding the differences between detailing EVs and traditional internal combustion engine (ICE) vehicles will give you an edge in the industry.
While the Southeast recovers from the devastating impacts of Hurricanes Helene and Milton, their lingering effects are still being felt in the usedcar market. According to a recent analysis conducted by EpicVIN , as many as 139,000 vehicles were flooded during Hurricane Helene, with over 61,000 of those in Florida alone.
Its not a surprise to find full-sized pickup trucks at the top of a list of Americas 100 best-selling usedvehicles. It was, however, a bit unexpected to find an electricvehicle in the top 30, and two EVs among the top 75. As has become expected, Fords F-150 pickup was the top-selling usedvehicle in the U.S.
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
Electricvehicles are changing how we think about cars, including how they are maintained and detailed. If youre considering auto detailing training , understanding the differences between detailing EVs and traditional internal combustion engine (ICE) vehicles will give you an edge in the industry.
The degree to which a vehicle’s price changes month-over-month might be more telling, in some cases, than the year-over-year change. 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. car industry overall ?
On Tuesday, Cherokee Media Group officially announced plans to host the UsedCar Industry Summit on April 13-15 at Miami’s premier waterfront destination: the luxurious InterContinental Miami. Built on the success of UsedCar Week, the UsedCar Industry Summit will highlight the best of the used-car industry.
Similarly, a sudden drop in usedcar prices from post-COVID highs resulted in many vehicles not being repaired. For instance, as vehicles become more complex, the cost of repairing crash parts with all the added sensors and technology might lead to higher total loss ratios as these cars depreciate.
Looking for an affordable usedcar? You might want to go electric. The latest research from iSeeCars shows used EV prices fell 15.1% over the past year, while the cost of gasoline and hybrid vehicles dropped just 0.5%. Thats just $917 above the price of the average gas-powered vehicle, iSeeCars said.
It’s electricvehicle chargers. A major focus of our new conference — the UsedCar Industry Summit , set for April 13-15 at the waterfront and luxurious InterContinental Miami — will be usedelectricvehicles. Even the “Bo’s Bird Dog,” which is a fried chicken strip in a hot dog bun.
Battery electricvehicle (BEV) owners have been feeling the heat for quite some time. However, we now have another study that proves these cars are the best shot anyone has at losing money with automobiles. " Although luxury vehicles are also a money pit, BEVs take the crown when it comes to depreciation.
The year started off with expectations there might be a return to normal in the used-car market. Industry observers releasing wholesale vehicle price indices last week noted uncertainty and surprises in the market to begin the year. At Black Book, the UsedVehicle Retention Index came in at 146.3
million new-vehicle sales for the year, up 1.2% Battery ElectricVehicles growth is estimated to increase, interest rates are becoming more favorable for consumers and an optimistic economy bodes well. At the same time, without process improvement, the profitability per vehicle (PPV) of the usedcar will continue to evaporate.
While the lack of public charging facilities is one of the most cited reasons by consumers for not considering an electricvehicle, most EV owners say they dont need or use them. Saving money on fuel was the top reason cited for buying an EV, but surprisingly, vehicle style and performance came in at No.
This week, CarGurus released its 2025 Mid-Year Auto Market Review, highlighting five primary points, including the impact of tariff uncertainty, shifting inventory dynamics and evolving consumer preferences on the new- and used-vehicle market.
New-Vehicle Sales Index Unchanged from Q4, Higher Year Over Year Franchised automobile dealers reported a good sales environment during the survey. The Q1 new-vehicle sales index remained at 54, higher than last year’s 52. The new-vehicle inventory index peaked at 75 in Q1 2024.
Pickup trucks and electricvehicles/hybrids. But in June, they have dominated used-vehicle price increases. According to the latest Carfax UsedCar Index , used pickup prices climbed almost $1,100 month-over-month in June, which is their steepest price swing in over two years.
We continue our episodes of the Auto Remarketing Podcast originating from UsedCar Week 2024 in Scottsdale, Ariz., with a lively debate about the future of electricvehicles. Listen to the episode in the window below and stay tuned for more from UCW 2024.
As we review the vehicle inventory, carryover, and markdown trends from the Lotlinx Q4 2024 Automotive Market Report , the automotive market has revealed several important insights into the ongoing challenges and opportunities for dealerships and OEMs. The usedvehicle market also saw growth in hybrid and EV sales.
Pickup trucks and SUVs have long been the dominant vehicles in the U.S. The survey showed 43% of consumers said they will definitely or most likely buy a new car, while 30% said the same about their likelihood of buying used, a 30% year-over-year drop.
This level of insight allows dealers to optimize their inventory mix, ensuring they have the right vehicles on their lots at the right time. Its not just about stocking popular models; its about having the perfect balance of vehicles to meet the specific needs and preferences of their local market.
In this mornings edition, were looking at BYDs solution to autonomys biggest legal hang-up, as well as the ever-climbing cost of usedcars. From Reuters : Chinese electricvehicle maker BYD on Wednesday promised to take responsibility for losses to cars with its Gods Eye assisted driving systems in smart parking scenarios in China.
Handwringing in the new-car market is already driving up sales and prices in the retail used-car market, according to analysis around the latest CARFAX UsedCar Index , which saw prices increase nationally month-over-month in April for every segment it tracks. Luxury car prices climbed 0.8% year-over-year.
There has been a spark in the used hybrid and electricvehicle market this month. After two years of consistent slowdowns, the segment has shown the most month-over-month retail price growth of any vehicle category in the latest Carfax UsedCar Index. According to Carfax, used hybrid/EV prices are.
This level of insight allows dealers to optimize their inventory mix, ensuring they have the right vehicles on their lots at the right time. It’s not just about stocking popular models; it’s about having the perfect balance of vehicles to meet the specific needs and preferences of their local market.
introduces AutoPucks , a new line of rubber puck adapters and jack pads designed to provide a secure connection and greater protection when picking up Corvettes, Tesla EVs and other passenger vehiclesusingcar lifts or floor jacks. Placing the adapters anywhere else can lead to vehicle damage or may cause the vehicle to fall.
As the tariff era begins, perhaps the two biggest concerns for the overall used-car market, now and down the road, are rising prices and the dwindling supply of off-lease cars. To which usedelectricvehicles say, What, me worry?
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.
Electricvehicles are one of two outliers when it comes to used-car price patterns, as their prices continue to fall amid growth in the overall pre-owned vehicle market the last three months.
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. Luxury cars fell 0.2% Pickups jumped 0.8%
If reliability and value are your customers top priorities for a usedcar, you might want to make sure the Honda Fit is on your lot. The subcompact hatchback, which was discontinued by Honda in 2020, is the most reliable 5- and 10-year-old vehicle for the money, according to the latest research from iSeeCars.
The automotive industry is undergoing a generational transformation with the continued use of electricvehicles (EVs). As more consumers embrace the benefits of EVs, the usedcar market is also seeing an influx of these eco-friendly vehicles. This can result in significant savings to the wallet.
The automotive industry is undergoing a generational transformation with the continued use of electricvehicles (EVs). As more consumers embrace the benefits of EVs, the usedcar market is also seeing an influx of these eco-friendly vehicles. This can result in significant savings to the wallet.
Usedcar prices continue to decline as availability increases and new car prices have stabilized in the Canadian automotive market, according to analysis from AutoTrader.
Image source The buzz around electricvehicles (EVs) is undeniable. However, traditional gasoline cars, with their internal combustion engines (ICE), are still common on American roads. Gas-powered cars (ICE) have ruled the country for decades, but rising fuel prices and EV tax breaks are shifting the conversation.
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.
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.
It was March momentum for the retail used-car market. million usedvehicles, which was a 10.9% million usedvehicles, compared to 4.29 million usedvehicles, compared to 4.29 The year began with used-car sales by dealers falling 6.4% In February, used sales were up 4.1%
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
A common hesitancy consumers might have about buying alternative-fuel vehicles (even used ones) is that the cost is too high. And that assumption isn’t entirely wrong — it might be fair on some models, particularly electrics. lower than that of gas cars ($3,123). In a study, iSeeCars.com examined data from more than 1.3
The pre-owned car market is still in a weird place. Some segments like electricvehicles have some hefty savings , but most pre-owned cars are still selling for inflated prices. If you happen to come across a usedcar that seems too good to be true, make sure the dealer can answer these questions.
Usedcar prices are s teadily dropping, mostly due to oversupply , and while electric and luxury vehicles are being hit the hardest, other segments don’t always see a big savings gap between new and used. Read more.
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.
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