Used car prices skyrocketed in July due to factors related to the coronavirus pandemic, Edmunds found in a study published Wednesday. The average used car price for 2017 model year vehicles jumped $708 from June to $21,558 to July. Listing prices typically decrease with depreciation at this time of...Read More»
The safest cars don't need to be expensive and teen drivers don't need to be driving old beaters, according to a new analysis. The IIHS teamed up with Consumer Reports to develop a list of the 65 safest cars that are valued between $5,300 and $19,600. This is the first time the two organizations...Read More»
The average car on the road in the U.S. is nearly 12 years old, roughly one month older than the national average for last year and the oldest in the history of a study conducted by IHS Markit. The study, which was released Tuesday, showed that car owners were holding on to their cars for 11.9...Read More»
Nothing attracts a crowd like a deal. And nothing conjures up a deal like desperation. With Hertz car rental behemoth filing for bankruptcy last month, reports of fire sales and too-good-to-be-true deals from the car selling arm of Hertz have conflagrated on the internet. Tempting deals such as a...Read More»
New car incentives are high, used car values are down, and all of this could change next week. That's what seems to be the message in the upside down that is car shopping right now. As automakers and the market adjust to effects from the coronavirus pandemic, there's no clear, sustained forecast...Read More»
Over the past five years, new-car shoppers have driven transaction prices higher and higher by choosing higher-trim vehicles and robust option packages. The average transaction price for new cars is more than $37,000 in 2019, according to Kelley Blue Book. Now, those well-equipped vehicles are...Read More»
The Chinese government approved the exportation of used cars for the first time as it seeks to jump-start its new-car market. Reuters reported Monday on China's decision to begin exporting cars in an effort to drive global trade and domestic auto sales. China's auto market declined last year for...Read More»
Used car shoppers in the Detroit area will have an easier time finding a pre-owned Ford vehicle with the launch of Find Your Ford, a new website from the automaker. Ford announced the new website Wednesday, which comes from two self-driving and electric vehicle engineers inside the Ford X...Read More»
If you think new cars are getting too expensive, you’re certainly not alone. According to a report Monday by The Wall Street Journal, the gap between the price of the average new and used vehicle is as wide as it’s been in five years, pushing buyers away from dealerships and towards...Read More»
Nearly three-quarters of new car buyers go online to get an idea of what their trade-in vehicle is worth prior to going to the dealership, and almost two-thirds of those estimates are accurate, according to a recent survey conducted for Automotive News. In other words, about half of all car buyers...Read More»
Germans have had a long, lusty love affair with diesels. While motorists in some parts of the world have largely ignored diesel vehicles (looking at you, America), in Germany, consumers have snapped them up as quickly as homegrown companies like BMW and Mercedes-Benz could turn them out. But not...Read More»
Owning a car can be a pain in the wallet. To prove it, AAA has conducted a study that reveals just how much the average American pays for the privilege of having a car (or truck, or SUV, or minivan) in her driveway. There's good news and bad news to be found in the study. Let's get the bad out of...Read More»
Since 2010, U.S. auto sales have been on a roll. That's been great for the industry as a whole and an encouraging reflection of the economy. Unfortunately, the boom hasn't been so great for vehicle owners, because it's led to a glut of used cars. And that, in turn, has dragged down residual values...Read More»
Recalls have been making headlines for the past several years, but on used car lots, recalled vehicles aren't always easy to spot. That could change thanks to a new lawsuit filed against the U.S. Federal Trade Commission. Recalls in the news The recent crop of high-profile recalls began with...Read More»
In the aftermath of the Great Recession, U.S. auto sales took a nose dive, but over the past several years, numbers have increased dramatically--as have prices. The one-two punch of high demand and high prices has forced many new-car fans to shop for used cars instead. Generally speaking, the...Read More»
Buying a car can give anyone heartburn. Between all the add-ons and upgrades, the fees and taxes, the fine-print of financing, and the iffy opinion that many consumers have of auto salespeople, it's a far more complicated experience than, say, buying a book or a smartphone. That goes double when...Read More»
A couple of weeks ago, we told you about a massive, multi-year transportation bill that could dramatically improve auto safety in the U.S. Sadly, that bill is now being carved up in Congress, and as we've seen many times before, elected officials are making a hatchet job of it. While some of the...Read More»
The world is full of very strange people, and CEOs are no exception. Many top executives seem to focus so much of their energy inward, they're unwilling or unable to read the writing on the outer walls of their lush, gilded bubbles. Mike Jackson, Chairman, CEO, and President of AutoNation is...Read More»
If you think that electric-car ownership is beyond your financial reach, think again. Due to a matter of supply and demand, and a flood of used models entering the market, electric vehicles (EVs) like the Nissan Leaf are remarkably affordable. This summer, and likely into the fall, there’s a...Read More»
