Tag: used car sales

Wholesale used vehicle prices fall as sales weaken

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A sign reads ‘We Buy Used Cars!!’ at an auto dealership on February 15, 2023 in Glendale, California. Mario Tama | Getty Images DETROIT – Wholesale used vehicle prices reached their lowest level of the year in May, as sales fell amid high interest rates and inflated retail prices. Cox Automotive reported Wednesday a 2.7% decline from April to May in its Manheim Used Vehicle Value Index to 224.5. It marks the second consecutive monthly decline and the index’s lowest level since 219.3 in December. The index, which tracks vehicles sold at its US wholesale dealership auctions, remains elevated from…
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What Car Made You Do a Double Take at a Used Car Lot?

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Photo: Chevrolet I love driving past used car lots. It’s basically a spectator sport for me, which is thrilling and exciting, and full of hope but also disappointed. Every now and then, I’ll run into something unexpected, like a Chevy SS or Jeep Wrangler Unlimited LJ. When that happens, I usually spend the next few miles nursing my sore neck and shoulders due to the force of the whiplash. So, I want to know what car has made you do a double take as you drove past a used car lot? It doesn’t have to be a model that caused…
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Why there may be no return to ‘normal’ for the used vehicle market

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Customers browse in a used car lot on February 15, 2023 in Glendale, California. Mario Tama | Getty Images All new vehicles become used cars and trucks once they’re sold. It’s an obvious statement, but one that needs to be laid out to explain the root cause for ongoing inventory and pricing issues in the US used vehicle market, which has been a barometer for the country’s inflation levels. related investing news During the onset of the coronavirus pandemic in early 2020, automakers shuttered factories for weeks to stop the spread of Covid-19. This was an unprecedented action that eventually…
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Just one in 10 Brits would buy a used car with over 100,000 miles on the clock – would you take the risk?

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JUST ONE in 10 drivers in the UK would purchase a used car that had more than 100,000 miles on the clock, a survey has revealed. Despite a shortage of used cars entering the market, CarGurus, an online automotive platform to buy and sell used vehicles, found that only 13.3% of drivers would be willing to buy a petrol car with over 100,000 miles on the odometer, while 15.5% would buy a diesel. 3 The Ford Focus ST is a popular performance car, but buyers may be put off by higher-mileage examplesCredit: Alamy 3 Older electric vehicles that have covered…
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