24 Jun, 2024

Good News for Car Shoppers: Vehicle Prices Are Dropping

The AutoTrader Price Index is showing a drop in car prices, signifying the first time new car prices have declined month-over-month since February 2021, while used car prices continue to decline as well.

In December 2023, the average price of a new vehicle stood at $67,259. That’s up a substantial 14.2 per cent from the same month a year before, but the figure has been slowly and steadily falling. Prices were down 0.4 per cent in October, 0.1 in November, and 0.3 per cent in December after reaching record highs in September.

Find a Great Deal on Your Next Car

The slow price decline is a result of a new-car market still trying to catch up with pent-up demand from 2020 to 2022, said Baris Akyurek, AutoTrader VP of Insights & Intelligence. AutoTrader estimates that 1.3 million fewer new vehicles were sold during that period. But, Akyurek said, new car inventory levels are now trending upward. This is resulting in softened pricing for new and used models.

“There are a lot of great deals to be had in the market,” he said in his report.

Used vehicle pricing reached an average of $36,863. That’s up 1.7 per cent from December

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Ford stops 2024 F-150 Lightning shipments; gas deliveries start

Ford stops 2024 F-150 Lightning shipments; gas deliveries start | Automotive News

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SUVs surge to new milestone helped by EVs

The SUV is now the dominant body type across Europe. Figures for 2023 reveal that combined volumes for models such as the Tesla Model Y and the Volkswagen T-Roc accounted for more than half of all sales in the region for the first time.

SUVs outpaced the market, with sales rising 19 percent last year to 6.63 million to take a 51 percent share of a European vehicle market that rose 14 percent overall, figures from market researcher Dataforce show.

The Model Y premium midsize SUV was Europe’s No. 1-seller overall.

Small, compact cars fall

SUVs have eclipsed Europe’s traditional hatchback and wagon body styles.

The small SUV segment was Europe’s largest last year with nearly 2.2 million sales followed by compact SUVs at more than 1.9 million, according to the Dataforce figures.

The biggest growth among SUVs last year came from the premium segment.

Sales of premium midsize SUVs increased 31 percent to 843,939, which made it Europe’s fifth-largest segment. The biggest contributors were the Model Y, which grew 85 percent to 254,822, and the Mercedes-Benz GLC’s 32 percent sales gain to 91,259.

Also seeing strong growth in the sixth spot was the premium compact SUV segment, which rose

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Ask Anthony helps couple whose business was hit by cars

After Ask Anthony featured the business owner, Joe Carlucci toured the property to see what kind of barriers could be installed to prevent future crashes.

JACKSONVILLE, Fla. — The Ask Anthony team is getting results after a Jacksonville business reached out with a problem they couldn’t solve.

William and Vicky Marcal help run their family company called “Duval Finest Countertops” on Emerson Street near Downtown Jacksonville. They moved into the building five years ago.

The Marcal siblings said cars have crashed into the building about six times in the past two years. They weren’t done repairing the building from the first accident, before another car crashed just a few weeks ago.

“The speeding is the main thing. They come so fast around the corner that they can’t control that one little curve and it’s causing them to hit the building every time,” explained Vicky Marcal.

After their story aired on First Coast Newsa Jacksonville City Councilman picked up the phone and called Anthony Austin.

“I’ve already talked to traffic engineering. I’ve already talked to a public works director. They are very open to coming out here with me next and looking at what the site allows for,” City Councilman

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Spring Daytona Turkey Run returns to Daytona Beach

Chrome, carburetors and custom cars will soon shine as the 34th Annual Spring Daytona Turkey Run classic car show again rolls into Daytona International Speedway.

When the three-day event unfolds March 22-24, expect the track’s immense infield to be jammed with classic and custom cars, a multitude of gearheads who love them and every imaginable automotive accessory from toggle switches to tailpipes.

Visitors stroll among thousands of classic cars at the 2022 edition of the Spring Turkey Run at Daytona International Speedway.  The 34th annual event is slated to return March 22-24 in Daytona Beach.

What happens at the Daytona Spring Turkey Run?

In addition to the display of more than 5,000 collectible vehicles, daily events include a massive swap meet as well as an array of vendors with art and fashion items tailored to the four-wheel crowd.

On Sunday’s closing day, events feature the annual 2 pm Classic Car Parade Lap around the Speedway track. For those with classic cars, it’s included in the event’s participant fee.

How many cars does the Daytona Turkey Run have?

Besides the mentioned 5,000 collectible show cars on display, the event also showcases some 1,500 customized vehicles for sale by owners in the Car Corral. If you need parts for your classic beauty, there are more than 2,000 vendors at the swap meet with an array of items both mechanical and aesthetic.

What are other

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Why Alfa Romeo is closely watching Trump versus Biden

Alfa Romeo on April 10 will unveil its first full-electric car, the Milano small crossover. It will go on sale in September in markets where EV demand is strong, including France, the Netherlands and the Nordic countries.

A 48-volt mild hybrid version will be launched by the end of the year, targeting markets where electrification is lagging such as Italy and Spain. The Milano will be sold in Turkey, North Africa and Latin America starting in 2025.

Stellantis is preparing its plant in Cassino, central Italy, to build cars on the STLA Large platform, including the second-generation Alfa Romeo Stelvio midsize SUV expected in the second half of 2025. It will be followed by the replacement for the Giulia midsize sedan .

Cassino, which already builds the Giulia and the Stelvio, as well as the related Maserati Grecale midsize SUV, will be the only Stellantis plant in Europe to build STLA Large-based vehicles. The platform will feature an 800-volt electric architecture and offer a range of more than 700 km (435 miles) for SUVs and an even longer range for sedans.

The Giulia and Stelvio replacements will be only electric, Alfa Romeo said, even though the STLA Large platform also

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Used-car prices plummet amid cost-of-living crunch

Australians are enjoying lower prices for used cars as a growing number of families turn to the second-hand market amid cost-of-living pressures.

Figures published by AutoGrab and the Australian Automotive Dealer Association (AADA) show more than two million used cars were sold nationwide in 2023, up a huge 34.4 per cent.

Prices also fell from peaks seen last March when used cars retained 75.8 per cent of their original value, reaching a low of 67 per cent (an 11.6 per cent decline) by the end of 2023.

The shift is a big turnaround from the pandemic years when used-car prices soared amid a series of global supply chain bottlenecks that limited the number of new vehicles available.

Those bottlenecks have now been resolved, and the influx of new vehicles has had a marked effect on the second-hand market, particularly as population growth picked up post-COVID-19.

AutoGrab chief operations officer Henry Pedersen said it’s been a “turbulent” year for used-car sales, with prices falling despite an increase in demand.

“There was a really long period there since mid-2020 where there was a shortage of new cars,” Pedersen said.

“That’s coming out of the market, which has immediately dropped prices. That’s a

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February US car sales: 7 key takeaways

February US car sales: 7 key takeaways | Automotive News

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Kwid, Baleno, i10 top used car choices for women in March: Report

  • According to a used car sales report shared by pre-owned vehicle platform Spinny, women bought nearly half of all the models sold in March.
Kwid Baleno i10
Hatchbacks like Hyundai i10, Maruti Baleno and Renault Kwid remain a strong favorite among women buyers in India in the used car segment, according to a report by India’s pre-owned vehicle platform Spinny.

The used car segment in India continues to be dominated by SUVs and hatchbacks. Spinny, one of India’s pre-owned vehicle platforms, has released a report which shows how hatchbacks are more popular among women buyers. The report says that nearly 46 per cent of overall used car buyers in India in March were women. Most of these used car buyers are from urban centers like Delhi, Mumbai and Bengaluru.

According to the report shared by Spinny, hatchbacks like Renault Kwid, Maruti Suzuki Baleno and Hyundai Grand i10 Nios were among the top choices for women buyers in March. The report says that these models were particularly popular among buyers aged between 30 and 40 years.

The report also said that Delhi tops the list of cities with most women buyers in

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Porsche Australia not worried about penalties from emissions standards

Porsche is known for its petrol-powered sports cars, but it’s banking on its growing range of electric cars to hold it in good stead when new fuel efficiency standards hit Australia.

Porsche Australia boss Daniel Schmollinger told media the brand is “comfortable” with its position if the New Vehicle Efficiency Standard (NVES) rolls out as proposed by the Federal Government.

“With our electrification strategy – 80 per cent electric by 2030 – I think we will be in a good position,” Mr Schmollinger said.

Porsche already offers the electric Taycan in Australia, and will later this year introduce an electric version of its best-selling Macan SUV.

Last call for the petrol model is rapidly approaching, with the final orders to be taken mid-year.

When it does launch, Porsche is expecting the electric model to slot neatly into the lineup – despite concerns from dealers about the death of the strong-selling petrol.

“We started three years ago with the Taycan. “Obviously there were some question marks if the Taycan was the right fit for the market – especially in Australia, which is petrol-oriented,” said Mr Schmollinger.

“The success we saw with the Taycan over the last three

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