Car price – PKW Zubehoer http://pkw-zubehoer.com/ Sat, 08 Jan 2022 09:47:28 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://pkw-zubehoer.com/wp-content/uploads/2021/09/icon-2-150x150.png Car price – PKW Zubehoer http://pkw-zubehoer.com/ 32 32 Average used car prices rise during the pandemic https://pkw-zubehoer.com/average-used-car-prices-rise-during-the-pandemic/ Wed, 05 Jan 2022 15:31:08 +0000 https://pkw-zubehoer.com/average-used-car-prices-rise-during-the-pandemic/ (NewsNation Now) – Used car lots are inundated with new car prices. As used vehicle prices exceed any seemingly rational level, this is the kind of scenario playing out in many car dealerships across the country. Prices have climbed so high, so fast, that buyers are increasingly excluded from the market. A new report has […]]]>

(NewsNation Now) – Used car lots are inundated with new car prices.

As used vehicle prices exceed any seemingly rational level, this is the kind of scenario playing out in many car dealerships across the country. Prices have climbed so high, so fast, that buyers are increasingly excluded from the market.

A new report has found that the average price of a used car is up about 40% from a year ago, according to Edmunds.com.

The average monthly price for a used car is $ 520. This takes into account the down payment, the interest rates and the price of the vehicle.

This means that more than half of American households now have less income than what is deemed necessary to purchase a mid-priced used vehicle.

There are empty parking spaces in many new parking lots, which drives up the prices of used vehicles.

The shortage of microchips since the start of the pandemic has gone hand in hand with soaring prices and has spurred demand for more used vehicles as new cars are simply not being built.

Since March 2020, used car prices have increased by 42%. Dealers and owners do not have to lower asking prices due to high demand.

That puts the average price of a new car at over $ 29,000.

So if you have a budget for buying a car, you will probably need to buy one that has more miles or that is much older than you originally wanted.

Experts do not know when this price hike will abate. Some say 2023, others say it could be 2024 before car prices stabilize.


Source link

]]>
The used car price bubble could burst in 2022, the damage is already done https://pkw-zubehoer.com/the-used-car-price-bubble-could-burst-in-2022-the-damage-is-already-done/ Fri, 31 Dec 2021 19:46:00 +0000 https://pkw-zubehoer.com/the-used-car-price-bubble-could-burst-in-2022-the-damage-is-already-done/ According to a recent report released by the folks at KMPG, a multinational corporation with more than 230,000 employees, data shows that used car prices rose 44% in November year over year. They haven’t seen anything like this in decades, which is a wake-up call. KPMG analysts believe used vehicle prices should return to their […]]]>

According to a recent report released by the folks at KMPG, a multinational corporation with more than 230,000 employees, data shows that used car prices rose 44% in November year over year. They haven’t seen anything like this in decades, which is a wake-up call.

KPMG analysts believe used vehicle prices should return to their normal market values, but this would only happen when automakers are able to produce and deliver a normal supply of new cars.

The KPMG report showed that the price difference is, on average, 30 percent, but some vehicles got even higher figures. Buying a car (or any other product, for that matter) at a higher price does not make it more valuable if the supply is sufficient or if there are alternatives on the market.

In other words, used vehicles that were acquired in 2021 for more than their value will never be worth more than what people paid for them. This is sad news for anyone who has had to borrow money to buy a used car this year, especially if they have taken out a loan over several years.

The effects of this crisis could last for years as supply is offset by demand, while around 30-40 million used vehicles have changed hands by the end of 2022 at an estimated price of 30 million. % greater than their value.

Regardless of how people paid for the used cars they bought this year, these units won’t be worth as much as they paid for them once the long delivery times of 2021 and the shortage of parts that hamper production will be gone.

Unfortunately, people who paid up to 40% more than a car’s value won’t get 40% more in value when they want to trade in that vehicle for a newer vehicle.

What’s more, the most concerning fact in the whole crisis is that lenders could also find themselves in hot water since the vehicles they financed are not worth the value they paid for, and millions of customers, even tens of millions (as KPMG estimates), could be underwater on their loans. The term refers to the installment payment for a product that is not worth a significant portion of what was paid for it.

How will the crisis end? Unfortunately, KPMG cannot predict the future but has created several scenarios. As they say, it depends on inflation, and rising used vehicle prices could set a new ground for vehicle value. However, it also depends on the financial sector and its interest rates, as well as government policies, suppliers and automakers.

In short, if you’ve recently been offered more than what you paid for your used car, and it’s not a future classic and worth collecting, you may consider selling it for a profit as long as you can find a reasonably priced replacement.


Source link

]]>
From collapsing used car prices to Tesla video games, predictions and resolutions for 2022 https://pkw-zubehoer.com/from-collapsing-used-car-prices-to-tesla-video-games-predictions-and-resolutions-for-2022/ Wed, 29 Dec 2021 10:00:00 +0000 https://pkw-zubehoer.com/from-collapsing-used-car-prices-to-tesla-video-games-predictions-and-resolutions-for-2022/ Used cars are on display at A Class Auto Sales, a used car dealership in downtown Brooklyn, New York, on September 29, 2020.THOMAS URBAN / AFP / Getty Images Getting out of the old, reluctant to the new. It’s the New Year’s Eve 2022 vibe. We’ve had enough of the predictable surprises and startling predictabilities. […]]]>

Used cars are on display at A Class Auto Sales, a used car dealership in downtown Brooklyn, New York, on September 29, 2020.THOMAS URBAN / AFP / Getty Images

Getting out of the old, reluctant to the new. It’s the New Year’s Eve 2022 vibe. We’ve had enough of the predictable surprises and startling predictabilities. The automotive world is no exception to this cautious weariness. There have been promising developments such as electric vehicles and autonomous driving technologies, along with alarming statistics showing an increase in dangerous driving habits such as distracted driving.

Don’t worry, dear readers. Here are some predictions for the New Year, as well as some resolutions we would all be wise to keep.

Predictions:

Used car price crash (maybe)

We have heard a lot about the impending drop in used car prices. July was the worst time in history to buy a used vehicle. In the United States, the average price for a used car with just under 110,000 kilometers was $ 31,426. Used cars were selling for the same price as new ones. The pandemic meant that fewer new stocks were available. Canadian rental companies have unloaded 30-40% of their vehicles and flooded the market. Then, they kept their fleets anticipating an increase in the number of automobiles during the summer. The main driver of price increases is the continuing shortage of microchips.

It was all supposed to correct itself, and there was a leveling out. A recent report from KPMG predicts that “a 20-30% drop in used vehicle prices is in the cards.”

Expect used car prices to drop, but don’t bet on a dramatic crash anytime soon.

Yellow taxi, meet Uber

If carpooling companies are goiTo prosper, they must reduce their contribution to pollution. It means getting rid of the mishmash of everyday vehicles and moving to automobiles designed specifically for carpooling.

Consider the recently unveiled ‘Arrival Car’ prototype by British company Arrival, which in May 2021 partnered with Uber to develop an electric vehicle designed for carpooling.

Arrival maintains that its prototype is designed to “bring clean air to the urban environments where the most kilometers traveled occur.” The arrival car has twice as much legroom as an average car of the same length and “prioritizes cost, availability, driver comfort, safety and convenience, being Given that the average carpooling vehicle will travel an average of 45 to 50,000 km per year, compared to 12,000 km for a typical vehicle.

No automaker will release a 2022 or 2023 vehicle called an “Omicron”.

Full refunds

Suzuki is the only manufacturer that offers its customers the option of returning their new purchases. If you live in the UK you have 14 days to change your mind and return your new Suzuki no questions asked as long as the car is returned ‘to the original dealer no later than 14 days from the day of first registration. . The 14-day period begins the day after the day of the first registration. Since the company introduced this option last year, only 30 of the 15,337 possible customers have returned their vehicles. Look for other companies to take note.

Resolutions:

Drive the new Porsche 911 Sport Classic at least once

The old is new again and I want to be a part of it. Carscoops recently saw The 911 Sport Classic from Porsche. This is Porsche perfection – a new ride with all the style and class of the vintage version. It could debut in February 2022. According to Carscoops, Porsche only manufactured 250 units of the ‘previous iteration (Porsche 911 Sports Classic 2010). The company sold out before the model even debuted.

Solve the mystery of the passenger game

Shortly before the holidays, the National Highway Traffic Safety Administration launched an official investigation into Tesla after allegations that its vehicles allow motorists to play video games while conduct. NHSTA planned to evaluate Models 3, S, X and Y produced between 2017 and 2022. the New York Times reported that an update to Tesla’s passenger play option added at least three games that drivers could access while the car was in motion. The car warns drivers “that playing while the car is in motion is for passengers”.

The day after the probe was announced, Tesla announced a software update that would disable the feature while driving. NHTSA said the New York Times that, “Passenger Play will now be locked and unusable when the vehicle is in motion.”

How in this world, or in this unfamiliar world, could anyone think that it is okay to play a video game while driving?

Guess we’ll have to ask the folks at Tesla.

Divine How to get rid of the parking lot will speed up journeys

Municipal governments want to decrease automobile use and have decided to get rid of parking spaces by allowing condo developers (read: our overlords) to build their monstrosities without them. On December 15, Toronto City Council passed zoning by-law changes that “will remove most of the requirements for new developments to provide a minimum number of parking spaces.” At the same time, limits to the number of parking spaces that can be built will be added. In an effort to build healthy and sustainable communities, this change helps to better manage car addiction and strike a balance between too much and too little parking. “

“These updates to the zoning by-law encourage residents to use alternatives to the car such as walking, cycling and public transportation, which reduce congestion and create space to improve conditions for pedestrians, cyclists. and public transport. ”

It’s awesome.

Unfortunately, Toronto City Council does not offer its citizens attractive alternatives. The TTC is irregular, dirty, slow, crowded, opening windows in winter for ventilation, and cutting roads; oh, and by the way, we’re in the middle of another “wave”. Nothing says “all aboard” like a virus spreading at the speed of light. Meanwhile, the city council has gone to war with Uber.

Toronto is addicted to cars. It is a fact.

Do you want to cure this? Simple – reduce the cost of public transportation. Stop sticking runners with costs. The TTC has promised to freeze tariffs. So what? An adult pays $ 3.25 for four subway lines (the TTC considers the “Scarborough” lines at six stops and the “Sheppard” lines at five stops). The New York subway costs $ 2.75 for 26 lines. Rome has three lines and the fare is 1.50 euros (CA $ 2.18).

Looking for a new car? Discover the new Globe Drive Creation and Pricing Tool to see the latest discounts, rebates and rates on new cars, trucks and SUVs. Click here to get your price.


Source link

]]>
Analysts warn of possible drop in used car prices in late 2022 https://pkw-zubehoer.com/analysts-warn-of-possible-drop-in-used-car-prices-in-late-2022/ Thu, 23 Dec 2021 08:00:00 +0000 https://pkw-zubehoer.com/analysts-warn-of-possible-drop-in-used-car-prices-in-late-2022/ A new report from Automotive News suggests that the current surge in used vehicle prices will stop at the end of 2022 and early 2023. Using data and analysis from consulting firm KPMG, it is predicted that average used car prices will drop by around 20-30% as part of a return to a normal relationship […]]]>

A new report from Automotive News suggests that the current surge in used vehicle prices will stop at the end of 2022 and early 2023.

Using data and analysis from consulting firm KPMG, it is predicted that average used car prices will drop by around 20-30% as part of a return to a normal relationship with consumers. new car prices. Of course, that depends on the vehicle supply, which KPMG estimates will break even around October 2022 and through 2023.

Although it will take until the end of 2022 for the supply of new cars to catch up with demand, KPMG believes that used car prices will begin their downward trend before then. This could happen because KPMG predicts that the market will anticipate a greater supply of new cars and reduce used car prices to accompany it.

The decline which analysts believe is coming is going to be brutal. Used car prices have increased by around 42% on average compared to January 2020 prices at this time. It’s a giant move, and if it comes back down, it will have a huge impact. Those who have paid for used cars at Covid supply prices will have massively overpaid for the new value of their cars and will see their investments plummet quickly. It will hurt.

Other much less alarmist analysts are cited in Automotive news ” report. For example, Cox Automotive believes that used car prices will decline at a much more manageable rate, as it does not believe we will hit the pre-pandemic supply until 2025. That said, Cox is still on. Notice that the peak used car prices will arrive between January and April 2022 and then slowly decline thereafter.

Even KPMG offers alternative scenarios to its main prediction. One suggests that inflation continues, causing prices to stay high indefinitely. And the other raises the possibility that the Federal Reserve’s response to inflation could cause some kind of kickback effect and totally stifle consumer demand.

Related video:

Source link

Disclaimer! NewsConcerns is an automatic aggregator of all media in the world. In each content, the hyperlink to the main source is specified. All trademarks are the property of their rightful owners, all documents are the property of their authors. If you are the content owner and do not want us to publish your materials, please contact us by email – [email protected]. Content will be removed within 24 hours.


Source link

]]>
Tata Motors, Honda Reflects Next Month’s Price Hike, Auto News, ET Auto https://pkw-zubehoer.com/tata-motors-honda-reflects-next-months-price-hike-auto-news-et-auto/ Sun, 05 Dec 2021 08:00:00 +0000 https://pkw-zubehoer.com/tata-motors-honda-reflects-next-months-price-hike-auto-news-et-auto/ New Delhi: With input costs continuing to rise, automakers like Tata Motors, Honda and Renault are looking to raise vehicle prices from January next year to offset the impact. Already, car market leader Maruti Suzuki and luxury automakers Audi and Mercedes-Benz have announced vehicle price increases starting next month. While Maruti said the price hike […]]]>

New Delhi: With input costs continuing to rise, automakers like Tata Motors, Honda and Renault are looking to raise vehicle prices from January next year to offset the impact. Already, car market leader Maruti Suzuki and luxury automakers Audi and Mercedes-Benz have announced vehicle price increases starting next month.

While Maruti said the price hike slated for January 2022 will vary by model, Mercedes-Benz said its hike will be for some models up to 2% due to improved functionality and increased costs. inputs.

On the other hand, Audi has said that its price increase from January 1, 2022 will reach 3% across its entire model lineup due to increased entry and operating costs.

When contacted about this, Shailesh Chandra, President of the Passenger Vehicle Company of Tata Motors, said, “The prices of commodities, raw materials and other inputs continue to rise. A price increase appropriate to at least partially offset this increase in costs seems inevitable in the near future. short term.”

The company sells models such as Punch, Nexon and Harrier in the domestic market.

Honda Cars India has also said it is considering a price hike in the near future.

“There is a severe impact on the cost of inputs due to the increase in the prices of raw materials. We are still studying how much can be absorbed,” a spokesperson for the company noted.

The maker of brands like City and Amaze last raised vehicle prices in August this year.

Renault has said it is also considering a “substantial” price increase across its range of vehicles from January.

The French company sells models like Kwid, Triber and Kiger in the Indian market.

Companies have been forced to raise their prices, with the prices of essential commodities like steel, aluminum, copper, plastics and precious metals rising substantially over the past year.

In addition, transportation costs have increased in recent times, affecting the total cost structures of original equipment manufacturers (OEMs).

Read also :

Annoyed by the rampant cost of inputs and the shortage of semiconductors, auto OEMs say they are being pushed to their limits and that rising product prices are the only way out. However, fearing the resistance of the market mutilated by the pandemic, they are reluctant to take the step of rising prices. Still clear indications at the ETAuto 2021 Virtual Connected Vehicle Summit are that consumers will be greeted with yet another price hike in the new year.


Source link

]]>
Maruti car prices rise in January 2022 https://pkw-zubehoer.com/maruti-car-prices-rise-in-january-2022/ Thu, 02 Dec 2021 13:18:10 +0000 https://pkw-zubehoer.com/maruti-car-prices-rise-in-january-2022/ Image – Dev Mtr Maruti Suzuki announces price increase from January 2022 – To vary by model As the supply of spare parts is a major concern for companies, cost is the key to a product’s success. In recent months, supply chain disruptions have further worsened input costs. Until 2021, the cost calculations had a […]]]>
Image – Dev Mtr

Maruti Suzuki announces price increase from January 2022 – To vary by model

As the supply of spare parts is a major concern for companies, cost is the key to a product’s success. In recent months, supply chain disruptions have further worsened input costs. Until 2021, the cost calculations had a negative impact due to the increased costs of various inputs.

Maruti car prices rise in January 2022

Maruti Suzuki India has now announced that a price hike is expected in January 2022 to pass on some of the impacts of the above additional costs. The price increase will vary by model. Maruti Arena cars include Alto, WagonR, Celerio, Swift, Dzire, S-Presso, Ertiga, Brezza, EECO and their line of commercial cars under the Tour brand. Maruti Nexa cars include Ignis, Baleno, Ciaz, S-Cross and XL6.

When it comes to price increases, manufacturers make several such announcements in any given year. This is especially true at the start of each calendar year. With new model year vehicles on the table, the price hike announcements for January of each year are a given. MSIl announced price revisions in March, July and September 2021.

Maruti production release in December 2021

On the production side, after a drop in production in November, MSIL expects production to be reduced even in December 2021. In a statement released earlier this week, the automaker said production of vehicles in the two factories could reach 80 to 85% of normal. go out. This is largely due to the current global semiconductor shortage.

Maruti Automobile Plant
Maruti Automobile Plant

Currently with reduced production, delivery is optimized. Total vehicle production in November 2021 is reported at 1,45,560 units, about 5,000 less than on November 20. Wholesale sales for the month are reported at 1,39,184 units.

Although manufacturing is currently adjusted according to supply chain limitations, Maruti’s monthly business volume is higher than reality. Even now, when the industry is in the throes of an unpredictable shortage.

MSIL UV product strategy

As Maruti balances the cost conundrum based on the market situation, MSIL offered an overview of its short-term product strategy. While the Jimny has been eagerly awaited since the launch of the latest model, utility vehicles are the center of attention. And this time around, MSIL isn’t just talking about smaller variants. The focus is on mid-range UV.

This will help the brand respond to customers who need to upgrade to the next UV. With MSIL having a product gap in these segments, closing the gap will help attract buyers. In addition to gasoline engines, MSIL is a strong advocate for CNG vehicles and hybrids. The company would be interested in these fuel variations and alternatives, even in the larger range of UVs to be launched. The large UV segment benefits from positive growth forecasts.


Source link

]]>
Automakers May Announce Another Price Hike Soon, Auto News, ET Auto https://pkw-zubehoer.com/automakers-may-announce-another-price-hike-soon-auto-news-et-auto/ Fri, 26 Nov 2021 08:00:00 +0000 https://pkw-zubehoer.com/automakers-may-announce-another-price-hike-soon-auto-news-et-auto/ Automakers fear that headline inflation and rising fuel prices make it impossible to pass on the full cost implications. New Delhi: India has seen the most frequent car price hikes this year, attributed to alleged increases in input costs. Still, most automakers believe that the cost impact has not been fully passed on and they […]]]>

Automakers fear that headline inflation and rising fuel prices make it impossible to pass on the full cost implications.

New Delhi: India has seen the most frequent car price hikes this year, attributed to alleged increases in input costs. Still, most automakers believe that the cost impact has not been fully passed on and they may resort to yet another price hike very soon. Most businesses are gearing up for the fourth price hike of the year.

Considering the way things are going, we should expect more <a class=price increases in the future, ”said Rajeev Chaba, President and CEO of MG Motor India.”/>
Considering the way things are going, we should expect more price increases in the future, ”said Rajeev Chaba, President and CEO of MG Motor India.

“We have not been able to fully pass the cost pressure on to customers. There is a lag in the price increase. The way things are going, we should expect more price increases in the future, ”said Rajeev Chaba, President and CEO of MG Motor India, at the ETAuto 2021 Virtual Connected Vehicle Summit. According to sources, the price increase could apply from the first week of January and it is the tradition.

The current supply chain crisis will force the industry to shift to a new group of strategies that will include creating an inventory model for some components and just-in-time for a few others.

“This will certainly have an impact on the company’s cash flow and production costs. But we all know there is a reality and a market sensitivity to the magnitude of the price hike, ”said Veejay Nakra, CEO of Automotive, Mahindra & Mahindra.

Vinod Aggarwal, managing director and CEO of Volvo Eicher Commercial Vehicle, said the company believes that if there is inflation, it should be passed on to higher prices. But this equation has totally disappeared. Now there is no longer a link between the increase in costs and the increase in prices. “Of course, it is necessary to increase the prices, but what we can win is not in our hands,” he added.

“We all know there is a reality and a market sensitivity to the magnitude of the price hike,” said Veejay Nakra, CEO of Automotive, Mahindra & Mahindra.

Justifying the impending price hike, Nakara pointed out that there had been significant investment from the industry when it switched to BS-VI and now investing to meet BS-VI standards.2 or the new CAFE standards. According to him, the industry bears a lot of costs and the industry level is lower than it was in 2019 for passenger vehicles, and for commercial vehicles and two-wheelers in 2015-16.

India first adopted CAFE standards on April 1, 2017. In Phase 1 (2017-2022), CAFE standards require companies’ average CO2 emissions to be below 130g / km by 2022. Phase II of the CAFE standards will be implemented from April 2022 – it aims to reduce CO2 emissions to 113g / km and could be further boosted to 108 or 104g / km.

“Manufacturers frequently raise prices and still have not been able to fully pass the pressure on to costs,” he added.

Automakers fear that headline inflation and rising fuel prices make it impossible to pass on the full cost implications.

Besides the cost of the technology, automakers are blaming raw material prices for soaring costs. Shashank Srivastava, Senior Executive Director of Sales and Marketing at Maruti Suzuki India, said: “We did not pass the increased costs on to consumers because we did not want to jeopardize the recovery in sales after the recovery, and we also hoped that the hardware costs will soften. Easing did not happen and commodity prices were stubbornly high. “

Maruti Suzuki has announced three price increases so far in 2021, in January, June and September.

"We are monitoring the situation closely and will decide accordingly.  We are walking the fine line between the top line and the bottom line, ”says Shashank Srivastava, Senior Executive Director, Sales and Marketing at Maruti Suzuki India
“We are monitoring the situation closely and will make the appropriate decisions. We are walking the fine line between revenue and bottom line, ”said Shashank Srivastava, Senior Executive Director, Sales and Marketing at Maruti Suzuki India

“They haven’t covered the increase in costs and we’re hoping that there will be some softening in commodity prices. But profitability will certainly be under pressure. We are therefore monitoring the situation closely and will decide accordingly. We are walking the fine line between the top line and the bottom line, ”Shashank said.

Consolidated profit of Maruti Suzuki India fell 65.7% to INR 486.9 crore in the second quarter of fiscal 22, from INR 1,419.6 crore in the corresponding quarter of the previous year.

There has been a sharp increase in the prices of raw materials like steel, copper, precious metals, aluminum, etc. For example, steel prices went from INR 38 per kg in March 2020 to around INR 70 a few months ago and copper from $ 5,200 / tonne to $ 10,300 / tonne. Rhodium increased more than 3 times during this period. Material costs are around 75-80% of OEM vehicle costs, which obviously had an impact on profitability.

According to Tarun Garg, director of Hyundai Motor India (sales, marketing, service), the auto industry is experiencing strong headwinds due to rising costs of materials and other inputs.

“There is also a global supply and supply constraint for electronic components. Hyundai Motor India is committed to offering the best value for money to its customers while absorbing the impacts of inflation as well as possible. However, a price hike could become inevitable if challenges on this front persist. For now, we are monitoring the situation closely and will make a decision on the price at the appropriate time, ”he said.

Price hikes could become inevitable if challenges on this front persistTarun Garg, Director of Hyundai Motor India (sales, marketing, service)

“The interesting part is that there are traders that are trading in tokens and we are dealing with them and we are paying premium multiples and we are trying to find every possible way to deal with the situation.” Rajeev Chaba concluded.

(The ETAuto Connected Vehicles Summit 2021 is supported by Varroc Excellence, Tata Communications, Siemens and Hexagon.)

Also read:

From a technical point of view, semiconductors play an essential role in the production of internal combustion engines. They are an integral part of all kinds of sensors and controls in any vehicle.

“The PLI program will create a modern value chain for the automotive industry. This policy tries to break this cycle of localization which only occurs when there is volume and volume only occurs when the cost of acquisition decreases. The new policy would therefore speed up the electric vehicle industry.


Source link

]]>
Rising used car prices show ‘no evidence’ of a slowdown ‘anytime soon’ with costs up £ 3,000 https://pkw-zubehoer.com/rising-used-car-prices-show-no-evidence-of-a-slowdown-anytime-soon-with-costs-up-3000/ Sat, 06 Nov 2021 07:00:00 +0000 https://pkw-zubehoer.com/rising-used-car-prices-show-no-evidence-of-a-slowdown-anytime-soon-with-costs-up-3000/ Prices for used gasoline and diesel cars continued to rise in October for the 19th consecutive month, according to the AutoTrader Retail Price Index. The increase was the biggest monthly jump with costs up 21.4 percent in September. Prices have now risen to a record 25.6% year-on-year in the past year and a half. The […]]]>

Prices for used gasoline and diesel cars continued to rise in October for the 19th consecutive month, according to the AutoTrader Retail Price Index. The increase was the biggest monthly jump with costs up 21.4 percent in September.

Prices have now risen to a record 25.6% year-on-year in the past year and a half.

The rise means that the average price of a used vehicle has increased by almost £ 3,000 in just five months.

Prices for the second-hand have dropped from just £ 13,973 in May to £ 16,878 in October.

Richard Walker, director of data and insight for AutoTrader, said prices were on the rise due to “unusually strong demand.”

READ MORE: Used car prices and shortages could lead to ‘auto mini-recession’

He added that supply chain problems were also to blame, which is “unlikely” to return soon after a drop in new car sales.

He said: “What we are currently seeing in the market is the result of fundamental economic factors – exceptionally strong consumer demand and a limited supply chain that simply cannot catch up.

“Going forward, demand will continue to be fueled by healthy levels of consumer confidence, a positive shift towards car ownership and the 1.5 million ‘lost’ car sales in 2020.

“In addition to the fact that we are unlikely to see a strong return to supply levels due to declining new car sales volumes in recent years and lower pre-registration levels,” we can expect strong price growth year over year. continue until next year.

DO NOT MISS
Three quarters of drivers would buy a used electric vehicle [INSIGHT]
Drivers urged to maintain the value of cars – expert opinion [ANALYSIS]
Used car prices rise by more than 50 percent [COMMENT]

“Although we may see a slight slowdown from week to week due to typical seasonal patterns, for year-over-year growth to slow to single-digit levels we saw before the pandemic , the levels of supply and demand will have to even out.

“From what we see in the marketplace, the wider economy and the hundreds of thousands of daily price observations that we are able to follow in the live retail market, there is everything just no evidence to suggest it will be anytime soon. “

AutoTrader data shows that almost one in four near-new cars is more expensive than its new counterparts.

A total of 22.2 percent of vehicles that have been on the road for up to 12 months cost more than new models.

AutoTrader’s analysis revealed that Land Rover’s Defender 90 had the biggest used price increase.

Costs have risen by over 68%, with the average asking price hitting £ 77,577.

The Jaguar XK was also up 45.2% while SEAT’s Alhambra was 41.9% more expensive.


Source link

]]>
12 tips for negotiating the price of a used car https://pkw-zubehoer.com/12-tips-for-negotiating-the-price-of-a-used-car/ Thu, 04 Nov 2021 07:00:00 +0000 https://pkw-zubehoer.com/12-tips-for-negotiating-the-price-of-a-used-car/ Breadcrumb Links Used vehicles Maintenance Information for drivers Bargaining a lower price on a used car isn’t as scary as it sounds Author of the article: CARFAX Canada Release date : 04 November 2021 • November 4, 2021 • 5 minutes to read • Join the conversation Learn these expert negotiating tips so you can […]]]>

Bargaining a lower price on a used car isn’t as scary as it sounds

Content of the article

You’ve found a vehicle that could be your next car and you’re ready to chat with the seller to see if you can lower the price.

Advertising

Content of the article

It might seem like an uphill battle, but if you use the tips below, negotiating the price of a used car will be a lot less stressful than you might think.

How to negotiate for a used car

Negotiating a lower price on a used car isn’t as scary as it sounds. Getting in with a clear mind and the research you’ve done is half the battle. If you do your homework, schedule releases, and manage your expectations, the experience will be much smoother. Having a specific number in mind when starting a negotiation could hurt the whole process. Instead, pick a price range you’re looking to get and base that range on the research you’ve done. When choosing the range, keep in mind that there are a lot of things that can influence the price of a used car, so plan for them.

Advertising

Content of the article

How much can you trade on a used car?

There is no set amount for which you can negotiate a used car. Every used vehicle is different in one way or another, and the price will be a direct result. There are many factors that can influence the deal you are negotiating. Things like: what is the average selling price of similar cars, was the scheduled maintenance met, does the car need to be detailed, are winter tires included? These might seem like little things, but they could be a big difference in how much rebate you can get on the used car you’re looking for. Use these factors to negotiate the price.

Trading Tips:

1. Do your research . It’s important that you get a great car for a fair price, and the first step in doing that is understanding how much it’s worth. Start by knowing what prices similar vehicles have sold for in your area so you can make an informed decision on which vehicle you are interested in. Find out what the car is worth using the CARFAX Canada Value Range Tool.

Advertising

Content of the article

2. Obtain the CARFAX Canada report. Obtain the seller’s VIN in order to run a CARFAX Canada Vehicle History Report on the car you are interested in. The report will provide important information about the car such as accident history, unpaid liens, odometer reading, and maintenance records. It will also give you an overview of the registration history and the brand. This critical information can be used as leverage in the negotiation phase.

3. Take other factors into account . There are several other things that can influence the selling price of a car like color, if it has been smoked, interior wear, number of previous owners, extended warranties, aftermarket features, extras like winter tires or recent replacement of important features like the brakes. Use them as factors like opportunities to negotiate the price of the used car.

Advertising

Content of the article

4. Take the car for a inspection before purchase. Get an independent and licensed mechanic to do a detailed vehicle inspection. Bring your CARFAX Canada report with you as you will want to verify that any previous damage has been properly repaired.

5. Don’t forget the sales tax. If you are purchasing the vehicle privately, keep in mind that when you register your vehicle, you will have to pay sales tax on the price you paid for the vehicle. Check with your provincial licensing office to find out how much you will need to pay.

6. Know your starting price. Before you begin the negotiation process, determine the highest amount you are willing to pay for that particular vehicle.

7. Work as a team . If you’re going to make the offer with your significant other, make sure you’re both on the same page. Discuss your trading strategy beforehand and decide together what is your ideal price range and determine your maximum price. Arguing or questioning yourself later in front of the salesperson won’t help you get a better deal.

Advertising

Content of the article

8. Ask the tough questions. If the CARFAX Canada report reveals that the vehicle was damaged, verify that the vehicle was properly repaired. Ask to see if this incident impacted the vehicle in any other way. The same goes for any issues discovered during the pre-purchase inspection, as well as any visible damage or defect – don’t be afraid to talk about it! These elements could influence the price of the vehicle and give you more negotiating room.

9. Control what you say and how you say it. It’s important to be confident when negotiating a lower price on a used car, but there is a balance. Don’t be pushy or overconfident, it might scare off the seller. On the other hand, don’t sound uncertain when speaking – your negotiated price shouldn’t be a question. You may feel frustrated that the deal doesn’t go the way you hoped, but don’t show it. Don’t get angry or make it difficult for yourself, it won’t change the course of the negotiation in your favor.

Advertising

Content of the article

10. Show respect. Don’t make a lowball offer well below the seller’s asking price. You risk insulting them and they will probably not want to negotiate with you anymore. Think about it from their perspective: if you were sell your used car , would YOU like someone to make an excessively low bid?

11. Don’t rush the decision. If the seller makes a counter offer and you’d like to think about it, that’s okay. Let the seller know – buying a car is a big decision, not a decision you want to rush into. If the seller has other potential buyers, be aware that you could lose the car if you wait.

12. Be ready to go. There are many options for buying a used car. Don’t get too attached to the vehicle, especially if you and the seller can’t come to an agreement. Anytime you find yourself in a negotiating situation, you need to be prepared to walk away if that’s the case.

This article has been provided by CARFAX Canada; the country’s definitive source of automotive information, providing vehicle history and valuation.

comments

Postmedia is committed to maintaining a vibrant but civil discussion forum and encourages all readers to share their views on our articles. Comments may take up to an hour of moderation before appearing on the site. We ask that you keep your comments relevant and respectful. We have enabled email notifications. You will now receive an email if you receive a reply to your comment, if there is an update to a comment thread that you follow, or if a user that you follow comments. Visit our Community rules for more information and details on how to adjust your E-mail settings.


Source link

]]>
The average price of new cars exceeds $ 45,000, the price of used cars exceeds $ 25,000 https://pkw-zubehoer.com/the-average-price-of-new-cars-exceeds-45000-the-price-of-used-cars-exceeds-25000/ Sun, 31 Oct 2021 07:00:00 +0000 https://pkw-zubehoer.com/the-average-price-of-new-cars-exceeds-45000-the-price-of-used-cars-exceeds-25000/ Now is a good time to sell a car or truck, or to trade in one. Corn New or used, the cost of a replacement is up from a year ago. The average new vehicle transaction price, a measure of how much people actually pay, exceeded $ 40,000 all year and hit $ 45,031 in […]]]>

Now is a good time to sell a car or truck, or to trade in one. Corn New or used, the cost of a replacement is up from a year ago.

The average new vehicle transaction price, a measure of how much people actually pay, exceeded $ 40,000 all year and hit $ 45,031 in September, according to data from Kelley Blue Book. That’s an increase of $ 4,872 or 12.1% over the past year.

Used Vehicle Retail prices are also “incredibly high”, averaging over $ 25,000 at retail since June, up more than $ 5,000 from a year ago, said Charlie Chesbrough, senior economist at Cox Automotive, during a webinar hosted by the American International Automobile Dealers Association. .


The average transaction price for new vehicles has hit record highs (months compared to the previous month) for six consecutive months, according to Kelley Blue Book, which tracks market values ​​for new and used vehicles.

Even the leap of a month new car prices was dazzling: $ 1,613, or 3.7% from August to September, said Kayla Reynolds, analyst for Cox Automotive, parent company of Kelly Blue Book. October figures will be released by mid-November.

The perfect storm

From a seller’s perspective, “it’s kind of a perfect market,” Reynolds said in a telephone interview. “It is well known that new and used vehicles are scarce and in high demand. “

The shortage of new vehicles is due to a shortage of computer chips used to control electronics in modern cars and trucks, in addition to shortages dating back to auto plant closures last year, due to the coronavirus pandemic.

By the end of the summer, the available supply of new vehicles was down 73%, or about 2.5 million vehicles (which were not built and shipped to dealerships), compared to days before. Covid 2019, according to Cox Automotive.

Used cars are in short supply too

For related but not entirely identical reasons, the Used vehicles and trucks are also experiencing a shortage of inventory, which has also pushed up prices.

Companies that hold dealer-only wholesale auctions where dealers buy a large portion of their used inventory complain that the volume is declining compared to their largest sources of sales. used vehicles – customer exchanges, rental returns, repossessions and old rental cars daily.

Trade is down because customers can’t find the cars and trucks they want, or because buyers are starting to postpone their purchases due to high prices. Rental returns are on the decline as many customers buy their own rental returns instead of just handing them over. Residual values ​​shown on rental documents – the fixed amount for which a customer can purchase the car excluding the rental, is typically thousands of dollars less than its actual value. See, “How to capitalize on the high value of your rental car.

Rests are going down, because during the Covid, many lenders observed a moratorium on repossessions. And rental returns to auction houses are dropping, because travel has been very low until recently and factories are diverting scarce supplies. new cars and trucks to retail customers, and bypass rental fleets.

Getty

High prices of “almost new” cars

While used vehicle prices are still much higher than a year ago, values ​​on average have plateaued in the wholesale market over the summer, according to auction firm KAR Global . Then they resumed in September and October.

In September, KAR Global said the average price of used vehicles at a wholesale auction had increased 20.3% from September 2019 to $ 15,546.

Prices also continue to rise for the highly sought-after class of three-year-old used cars, which are often reconditioned, have a factory warranty, and resold at a higher price at dealerships as used cars. certified opportunity, abbreviated CPO. By comparison, prices for used midsize sedans matching the CPO profile have increased by around 27% over the past year and 39% over two years, says Tom Kontos, chief economist at KAR Global. For mid-size SUVs or crossovers with the potential to become CPO vehicles, the wholesale price increase has increased by 31% and 34% in the past one and two years, respectively.

CPO vehicles are the closest thing to new cars, Kontos says, so they order wholesale and dealer bonuses.

Many (with money in the bank) can afford higher prices

Both for new and for occasion, the strong demand is in part the pent-up demand for Covid closures. Additionally, Covid has made people think twice before using public transport or carpooling. Finally, in historical terms, US households are also sitting on unusually high savings, according to Chesbrough of Cox Automotive.

The accumulated savings stood at $ 3.9 trillion at the end of the summer, nearly double the level of the previous year, he told the webinar.

Despite rising gasoline prices and somewhat shaken consumer confidence, “this level of accumulated savings will not be spent so quickly,” Chesbrough said. “We may be worried, but we don’t need to be too pessimistic about it.”

Under these circumstances, automakers have reduced discounts on new vehicles. Kelly Blue Book said the incentives as a percentage of the average transaction price fell to 5.6% in August, down from what was a 10-year low of 5.9% in July and down from a 10-year low of 5.9% in July. at 10.1% in August 2020. These trends continued in the fall. .

Where the prices of the car segment have increased the most

Some new car segments have seen price increases above the average increase of 12.1% from a year ago. They were led by vans, up 16.4%; hybrid / alternative energy cars (but not electric vehicles) and midsize cars, both up 15.1%; and high-end luxury cars, up 14.4%. The average selling price of a high-end luxury car hit $ 119,312 in September, that of a high-end luxury full-size SUV / crossover hit $ 102,191.

The categories with the smallest price increase from a year ago were full-size SUVs / crossovers (mainstream), up 2.3%; electric cars, up 3.5%; and subcompact cars, up 5.0%. The modest increase in prices for electric vehicles is at least in part due to the increased availability of consumer electric cars.

Individual brands with strong price increases in September 2021 compared to a year ago were Cadillac, up 51.2%; Genesis up 29.7%; and Mercedes-Benz, up 25.8%. KBB warned that a change in the model lineup from 2020 to 2021 can skew a brand’s price increase or decrease (-2% in the case of Decree).

In addition to comparatively short to medium term factors such as the shortage of computer chips, there is a long term trend for customers to move away from passenger cars for bigger and more expensive crossovers, SUVs and vans – to such an extent that the domestic market, manufacturers, in particular, have even given up offering many passenger cars, in favor of trucks, which are also more popular and more profitable.

Plus, better safety and emissions equipment can raise prices

In addition, prices are on the rise as vehicles today are fitted with standard equipment for high-level safety and emissions. Some of these items are required, such as reversing cameras (since 2018).

But there are also a growing number of optional advanced driver assistance systems, such as automatic emergency braking to avoid frontal collisions, and premium infotainment, with video display.

Average transaction prices topped $ 40,000 for the first time, in the third quarter of 2020, said Kelly Blue Book’s Reynolds. It was then that it was already evident that consumer demand for new vehicles had returned much faster than new vehicle production could resume.

This article, The average price of new cars exceeds $ 45,000, the price of used cars exceeds $ 25,000, originally published on Councilor Forbes.


Source link

]]>