New data shows used car prices which surged during the pandemic, are now stubbornly remaining there despite recent weakness in the market. According to the highly-watched Manheim Used Vehicle Value Index (which tracks wholesale used-car prices at dealer auctions), used car prices jumped 3.7% in February compared to January of this year, which was also…
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Used cars continue to get cheaper, new research finds
Australian wholesale new vehicle prices have fallen 12 per cent from their peak in May 2022, as normality returns to the wider supply chain and demand for pre-loved car cools. The Q4 Used Vehicle Price Report found used car prices have now decreased for seven successive months, and in January 2023 they had their first…
When will car prices drop?
If you’re like many would-be vehicle shoppers, you may be wondering when prices will finally drop. For the past two years, the high cost of new and used vehicles has repelled many Canadians who may have otherwise considered trading their vehicle in or buying a new one. The good news is that the vehicle market…
Montreal arson squad investigating used car dealership fire
A used car dealership was damaged by an apparent arson early on Monday morning in northwest Montreal. The flames also destroyed four cars, but no injuries had been reported by midnight. Montreal police (SPVM) reports that a 911 call at around 1 am indicated that the fire had just started at the establishment located on…