Used vehicle prices are plummeting. Sedan prices are down 11% over the last year, while SUV prices are down 9.3% and pickup prices are down 8.3%. None of this is a welcome development for people looking to trade in a vehicle they're still paying off. https://trib.al/VyWEtIK
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Used car prices are crashing: Used car and truck prices are now down 17.5% since the 2021 peak, the largest decline in 15 years. Over the last 35 years, there were only two times when prices of used vehicles saw a bigger drawdown: in 2004 and 2009. Overall, US wholesale prices of used vehicles have declined for 22 consecutive months. In June, average wholesale prices decreased by 8.9% year-over-year to $17,934. #EV makers have been hit the hardest, with some EV prices falling over 40% since last year. The car market bubble has popped. Source: The Kobeissi Letter, Bloomberg
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Did you know that used-car prices can be a bellwether for inflation? After a steep drop of 4.2% in June, experts are noticing a cooling effect on core inflation. 📉 What's causing this? Rising interest rates and discounts on new cars are lowering demand for used vehicles. Plus, dealers are finally catching up with inventory after pandemic-induced shortages. #UsedCars #InflationInsights #Inflation #Investing #Investing101
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Senior Financial Consultant, with Landriault & Associates at IG Private Wealth Management, focusing on improving client's financial wellbeing.
Used car prices fell 5.5% over the 12 months ending in the third quarter, as the pandemic's aftershocks on the auto market have faded. https://lnkd.in/g4KPFKF5
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After a brief period of relief, used vehicle prices in the United States are rising again. The average price dropped by 14% from last year's peak and is now creeping back up. The combination of high demand and limited supply drives these increases, as fewer trade-ins and off-lease vehicles are available. This trend suggests that prices will continue to climb in the future.
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SCA Certified - Wealth Management, Investment Advice, Retirement Planning, Personal Finance, Goals Based Investing
Used car Prices – 29.02.2024 Changes in second-hand vehicle prices are a good indicator of economic activity. Used car prices saw a nearly 50% jump in covid when manufacturing was either suspended or curtailed. The spike was expected to ease after covid restrictions were lifted but several challenges such as chip shortages, shipping unavailability, wars and higher-than-usual demand have kept used prices higher. As the global economy normalises, used vehicle prices are expected to trend lower throughout this year – they have dropped about 15% from their covid peak but are still roughly 30% higher than the pre-covid range. A decline in used car prices indicates higher availability and sales of new cars – auto manufacturers may do better in the coming 12-24 months. I am still underweight this sector – will have to see some concrete changes and normalisation in supply chain and labour costs, materials availability and a solution to chips shortage. Data Source - FRED St. Louis Fed.
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Average transaction prices for new vehicles increased in August 2023, driven by higher-priced vehicles sitting longer on dealer lots, with those priced above $50,000 taking 40 days to sell compared to 27 days in August 2022, while lower-priced models under $50,000 took an average of 26 days to sell, reflecting shifting consumer preferences influenced by rising interest rates and potential further price increases due to a United Auto Workers strike affecting production. https://lnkd.in/gkaYGkhW
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🚘📉 Used vehicle values take another dip! March saw a 0.4% month-over-month and a striking 14.7% year-over-year decrease in the Used Vehicle Value Index. This marks a significant shift, with used-car prices showing a downward trend for 19 consecutive months 📊. But it's not all gloomy skies; retail sales saw an uplift, though momentum slowed by month's end. EVs felt the brunt of depreciation, diving 19.1% YoY, outpacing the decline in non-EVs 🌱⚡. The inventory situation is somewhat stable, with a 42 days' supply noted at March's close, signaling a balanced market amidst fluctuating values 🚗🔍. What's your take on these shifts? Are these trends indicating a more significant market correction, or is this a temporary blip? 🤔 #autofinance #usedcars #markettrends #ev
Used-car values drop 15% in March
https://www.autofinancenews.net
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🚗 Shift in the Automotive Market: Used Car Prices on the Decline! 📉 The automotive industry is experiencing significant changes. According to a recent article by GoAuto Premium, used car prices have dropped by 10%, with inventory levels increasing by 25%. 🚘 This trend marks a significant shift from the sky-high prices we saw during the pandemic. But what does this mean for buyers, sellers, and the industry as a whole? Key Takeaways: 🔹Buyer's Market: With more options and lower prices, now could be a perfect time to purchase that pre-loved vehicle you've been eyeing. 🛒 🔹Seller's Strategy: Dealers might need to reassess their strategies and pricing models to remain competitive in this evolving market. 🔍 🔹Economic Indicators: The increased inventory and declining prices might also reflect broader economic trends and changes in consumer behaviours. 📊 This shift provides a unique opportunity for stakeholders to adapt and thrive in the new market landscape. Dive deeper into these trends and their implications in the full article https://hubs.la/Q02BtxY20 🌐 #AutomotiveIndustry #UsedCars #MarketTrends #BusinessStrategy #GoAuto
Used prices down, inventory jumps
https://premium.goauto.com.au
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*Buckle up for a wild ride in the used vehicle market!** **In June, wholesale prices dropped 8.9% year-over-year.** **Electric vehicle prices fell even more, down 16.6%!** **Why? Vehicle inventories are bouncing back post-pandemic.** **New cars are more available, pushing down used car values.** **This has a domino effect on the entire market.** **If you’ve got an upside-down loan, brace yourself.** **Trading in a car worth less than you owe is tough.** **It’s like hitting a speed bump on the way to a new ride.** **These shifts could shape the market for months to come.** **How are you affected by these market changes?** **Share your thoughts below! 🚗💬** https://lnkd.in/g3q5Bqnx
Used car prices are plunging
axios.com
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New vehicle prices are on the rise again after trending lower in the U.S. Here are the latest market shifts and their impact on consumers and the industry.
New prices move up after trending lower - Auto Service World
https://www.autoserviceworld.com
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