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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. According to Lang Marketing’s latest report, “Soaring Odometers Boost ICE Aftermarket,” light vehicles in the U.S.
Despite ongoing economic challenges, Canadians are demonstrating resilience in their vehicle purchasing habits, according to new research from AutoTrader. While the economic landscape remains challenging, with high interest rates, gas and vehicle prices influencing decisions, Canadians are adapting.
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 electric vehicle 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.
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 ?
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.
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.
Pickup trucks and SUVs have long been the dominant vehicles in the U.S. The automotive M&A advisory firms semiannual Market Outlook Report , released this week in conjunction with the NADA Show, said its data shows American consumers have reached peak truck.
Perhaps you could make an argument that the used-car market is almost as healthy as it can be for both auctions and dealerships based on two trends highlighted by Black Book in its latest installment of Market Insights. And prices for vehicles between 8 and 16 years old dipped by 0.20% last week.
Side impact testing would also require specific 50th-percentile male and 5th-percentile female models to be used. Cars are currently tested for men, not for women Benoist/Shutterstock CBS News cites a NHTSA report stating that women are 73% more likely to suffer injuries in a crash than men.
As I draft this article, dealers are considering the impact of federally mandated tariffs against trade nations for which the domestic automotive industry relies on (or finds economically beneficial) for manufacturing, parts supplies, vehicles and reciprocal trade. Heres how well-practiced reconditioning fights margin squeeze: 1.
Pickup trucks and electric vehicles/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.
To mitigate the impact of tariffs, dealers should focus on diversifying their F&I product inventory and offering a mix of options for both new and usedvehicles. As a result, dealers must be prepared for near-term changes in vehicle pricing and availability.
Graphic: Cox Automotive Used-vehicle inventory levels at the start of June dropped slightly month over month , but inventory was relatively flat compared to early June 2024, according to a Cox Automotive analysis of vAuto Live Market View data released June 13. Used retail were at 1.53 stood at 2.21 million units, down from 2.22
million three-year-old usedcars, the few remaining used alternatives appear to be well on their way to joining them. While nearly half of all three-year-old cars cost less than $20,000 in 2019, only 11.5% This forces buyers with low budgets to look for even older cars than before. remain at that price point today.
As economic uncertainty continues to weigh on consumers, vehicle affordability continues today as a driving issue in the auto retail sector. At the same time, average interest rates for auto loans have climbed to 9.62% for new vehicles and over 14.16% for used ones.
Auto body estimators play a crucial role in the collision repair process, assessing vehicle damage and determining the cost of repairs. Understanding the Role of an Auto Body Estimator Auto body estimators evaluate damaged vehicles and prepare repair cost estimates. What career opportunities are available for an estimator?
Here’s what you need to do: Park on a level surface and turn off the engine: Ensure the vehicle is secure on level ground. Then, park the vehicle on a level surface. Remove the drain plug : If they need to change the oil, raise the vehicle and place a drain pan under the oil pan. Typically, it’ll cost between $35 and $250.
Attempting to minimize financial losses when considering a car purchase is tough; you need to consider the projected reliability to avoid overspending on repairs, and you need to consider the vehicles resale value. The idea that brightly colored cars lose their resale value faster was once common wisdom, but that is no longer the case.
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 electric vehicle 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. Car prices were down 3.2% from March.
More and more folks are opting for incredibly long-term loans that still carry high monthly payments, because cars are just so damn expensive these days. Now, the share of new-vehicle buyers who are spending over $1,000 is at 19.3%. of new-vehicle financing loans were 84 months or longer. of new vehicle financing deals.
According to AP , the deduction applies only to loans for new cars, not leases or usedcars. Up to $10,000 of loan interest may be deducted each year for 2025 through 2028 light vehicles (weighing under 14,000 pounds) made in the USA. This includes cars, trucks, SUVs, vans, and even motorcycles.
All Rights Reserved Buying A Car Out Of State: What You Need To Know First Latest News Reviews Brands Car Types Buying Culture Tech Beyond Cars Racing QOTD Features Newsletter Advertise Culture Buying A Car Out Of State: What You Need To Know First By Jordan A. How long this temporary registration lasts varies by state.
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%
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 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.
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 usedvehicles have slowed significantly year-over-year: used SUVs are down 9.5%
Usedcars are finally getting a little cheaper, according to Cox Automotive. After what seemed like an interminable series of price hikes across all vehicle segments, used prices are going down. The only caveat is that pickup trucks are trending in the other direction and are getting slightly more expensive instead.
When it comes to buying a vehicle, many people face the classic dilemma: should they go for a brand-new car or opt for a pre-owned one? While new cars have undeniable appeal, purchasing a pre-owned vehicle often makes more practical and financial sense. Heres a detailed look at why buying a usedcar is a smart choice.
More than 76% of Americans usecars to commute today. To meet the consumer demand, car dealerships must efficiently manage their inventory. American car dealerships need to move cars between locations to sell them. While shipping a car is not difficult, it comes with some risks and costs.
Auto Service World asked AIA Canada how tariffs would impact the aftermarket by way of how new vehicle prices could affect the sector and how added financial pressures on consumers could impact the industry but the question wasn’t answered in their statement. Full-size trucks could see a jump of $10,000 in pricing.
Vehicle prices continued a downward trend in July — the most of any major category in the Consumer Price Index (CPI) over the last year as the car market continues its return to "normal" following pandemic-fueled inflation. Usedcar prices fell 2.3% New car prices fell 0.2% New car prices fell 0.2%
It’s no secret that dealers are facing a complex set of challenges when sourcing usedcar inventory. While supply constraints have been a major focus, it’s also important to consider how demand dynamics are influencing the usedcar market and complicating dealerships’ ability to source inventory effectively.
Used-vehicle prices are showing a “typical seasonal rise” on a month-over month basis in the wholesale market but are down double-digits from early 2023. Meantime, used-vehicle prices on the retail side of the market “are in retreat” from peaks reached in May. Car prices were up 4.4% Truck segment prices climbed 2.7%
Sending a full-size truck to auction appears to be as much of a heartburn-triggering situation for franchised dealers as seeing that new model sitting in inventory and on the store floorplan for 100 days or more. Power showed the numbers crunch unfolding that might again be pitting the used-car department versus the new-car division.
Average prices on 1- to 5-year-old vehicles in October were down 5.1% Moreover, the latest CARFAX UsedCar Price Index shows that those declines continued “across the board” in November. Everything from economic concerns to growing competition among electric vehicles is contributing to their downward trend.” to $31,511.
While the groundhog hasn’t delivered his forecast yet, it seems spring might be on the way in the wholesale car market. Used-vehicle prices were down again as January ended, but the pace of depreciation is decelerating, according to the latest report from Black Book. In turn, that is helping to drive down the cost of usedcars.”
A 2022 Bureau of Labor Statistics report reminds us that from the 2007 to 2009 recession — and through the onset of the pandemic in 2019 — “car and truck dealerships faced an economic shock and compressed profit margins on new vehicles.” These two critical variable functions are integrated today.
Toyota Those of us willing to bite the bullet and pay today’s new-car prices want to make sure that the vehicle we’re buying will stand the test of time. A new study from iSeeCars found that the 10 longest-lasting vehicles come mostly from one global automaker, and that company likely won’t surprise you.
At some point, every vehicle has delivered its intended purpose, no matter how dear it is to a family or owner. When that time comes, it’s essential to consider your options in order to figure out how to get the best price for your trade-in, whether it be trading, selling, or mothballing the car for a future family owner.
Like the number of teams still alive in the MLB playoffs, used-car prices are dropping in October. Wholesale vehicle values climbed sequentially for the second straight month and were still astronomically high in September compared to pre-COVID levels, but signs indicate that October is seeing the usual autumn slowdown.
If a shopper who arrives at your dealership is on the hunt for an inexpensive usedvehicle that can seat the whole family, here’s a selling point: Now might be the time to buy. While luxury cars were also down $200 from May, other vehicle categories saw little (hybrids/EVs, down $40) to no change (cars) month-over-month.
There is always the same vehicle in the lead, no matter if we are dealing with the brand-new models sales or the usedcar market. This has become so predictable. There can’t possibly be a best-selling model ranking without it. It is always the Ford F-150. The Ford F-150 tops the ranking of the new. continue reading. )
The poor pickup truck has no chance of ever getting back on the road again. The model is going to end up on the usedcar parts market in pieces. Well, not literally, because the insurance company surely paid out, and the owner of the pickup truck went and bought another vehicle, maybe o. continue reading. )
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