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Used car prices remain stubbornly high as sales increase

By on May 31, 2023

Used car sales grew by just over 4 per cent in the first three months of 2023, following three consecutive quarters of falling sales, but there’s little sign yet of high prices easing as more cars change hands. According to the latest figures from the Society of Motor Manufacturers and Traders (SMMT) a total of 1,847,149 cars changed hands in the first quarter of this year, compared to 1,774, 351 in the same period 2022. The SMMT says that growth in the new car market as the post-pandemic production delays unwind has in turn improved availability of secondhand stock. That…

Experience Meets the Right Tools for Success: Bill Pittman Explains His Approach to Stamping Feasibility

By on May 22, 2023

Introduction Bill Pittman is the Stamping Feasibility Manager for the North American center of an international OEM. The job title can have varying interpretations in different corporate environments, and the tasks and objectives can change depending on the phase of the program and its application. With numerous years of experience at various automotive manufacturers, Bill possesses a solid foundation of practical knowledge. However, he believes that utilizing new tools is the key to further improvement and accuracy in his work. This article provides an insight into his daily responsibilities and his philosophy on his work and how global organizations can…

Here’s a look at why

By on May 13, 2023

Consumers who want to spend their tax refunds on a car may be disappointed this spring: Prices are rising. Signals from the used-car market are flashing higher prices ahead, reversing a decline that started last fall. Manheim, which auctions used cars to dealers, reported a 4.3% increase in vehicle prices in February, the largest increase for that month since 2009. Another tracker of wholesale used-car prices, Black Book, said prices rose 0.46% for the week ended March 11, the largest single-week increase since November 2021.Because prices in the used-car wholesale market typically change about four to eight weeks before…