Tax refund season has begun, which usually results in the annual peak for wholesale used-vehicle values.
Anticipating that demand, dealer business picked up in late February, according to the latest Manheim Used Vehicle Value Index. Manheim says dealers should be aware tax refund/spring selling season for used cars is getting under way.
Averaged out over the entire month of February, wholesale used-vehicle values were virtually flat for the third consecutive month, comparing December 2023, January 2024 and February. Manheim says price stability is welcome, but values were still lower than a year ago.
The Manheim Index for February, which was…
Author: Dara
Fisker Ocean called ‘inexcusable’ in Consumer Reports review
Fisker Ocean called ‘inexcusable’ in Consumer Reports review | Automotive NewsSkip to main contentNEWSOPINIONDATA CENTERVIDEOSEVENTS & AWARDSJOBSResource Center+MOREAdvertiseLeading Women NetworkPodcastsWebinarsIn the Driver’s SeatPublishing PartnersAPCO HOLDINGS: Strategies for handling new F&I dynamicsAPCO Holdings: Connected cars create new challenges and opportunities in F&IAPCO Holdings: The Wild Ride into the Future of F&IAllstate: Compliance standards are changing. Here’s what you need to know.Allstate: The ABCs of maximum F&I effectivenessAlly All Ears Podcast Episodes | The next evolution in virtual F&IAlly All…
Car Deals Are Easier to Find but Lenders Are Tightening Their Terms
New cars are more available this spring, and manufacturers have even begun offering deals to interested buyers.
But at the same time, lenders have been tightening the terms of car loans as they deal with a rising number of delinquencies. That has made it harder for some people to get affordable loans.
Access to auto loans for both new and used cars was generally worse in January than in December and down year over year, according to Dealertrack, a Cox Automotive service that tracks credit availability based on factors like loan approvals, terms and down payments. The impact was seen…
Dan Sale announces retirement, Sale Auto Mall under new ownership — Neuse News
Dan Sale, the owner of Sale Auto Mall in Kinston, has announced his retirement and the subsequent sale of the dealership. Established in 1986, Sale Auto Mall has been a significant player in the local automotive industry. The business includes BMW, Kia, Chevrolet, Buick, GMC, Ford, and a wide variety of certified used vehicles.
“We are selling to another family auto group, the Deacon Jones Auto Group from the Smithfield/Goldsboro area,” said Sale. “It was important for us to have another family group take over. They will take good care of my wonderful 100 plus employees.”
The next chapter for…
UAE used car prices see sudden sharp increases – will buyers have to delay their plans?
But in general, the availability of these vehicles has come down from other sourcing points as well, they add.What it means for potential buyers is that they will end up paying 10-30 per cent higher on their model choice than if a similar deal had been made in October or November. Throw in the higher insurance rates they need to pay on their vehicles – many used car vehicle sellers are not offering free insurance perks – and the cost of ownership has jacked up quite a bit.For the UAE’s secondhand car dealerships, it all adds up to…
Mis-sold car finance scandal: could you be due compensation?
Don’t worry, Auto Express isn’t about to join the bandwagon of claims-management firms advertising on social media and elsewhere, using well-known statements to get their claws into a share of any payout you – and millions of others – may one day be entitled to as a result of a ‘mis-sold’ car finance agreement.Advertisement – Article continues belowAt issue are finance agreements including a non-disclosed Discretionary Commission Agreement between your lender and your dealer, allowing the latter to secretly tweak interest rates for more or less commission. DCAs were banned in 2021, but were commonplace before that, especially…
Renault expects ICEs, EVs to best sell side-by-side for decade
GENEVA — The Renault brand will probably continue to offer internal-combustion vehicles alongside a separate lineup of full-electric cars for the next 10 years, CEO Fabrice Cambolive said.
Renault Group CEO Luca de Meo in early 2022 said that the Renault brand would be selling only EVs in Europe by 2030 — ahead of the EU’s zero-emission mandate in 2035 — but he has also said that the pledge is dependent on market conditions. Demand for EVs in Europe remains high, but the rate of adoption has slowed in recent months, raising questions about the willingness of consumers to continue…
History Repeats Itself As Automakers Strike Deal With Independent Repair Facilities To Provide Access to Telematics Data
The Alliance for Automotive Innovation, a trade association representing US automakers and other manufacturers, announced on July 11, 2023 that it had entered into an agreement with trade associations representing independent repair facilities affirming the continued vitality of a 2014 agreement on automotive right-to- repair issues and declaring that “independent repair facilities shall have access to the same diagnostic and repair information that auto manufacturers make available to authorized dealer networks.”
In the original 2014 Memorandum of Understanding, automakers agreed to make repair tools and information available for vehicles available to the aftermarket on fair and reasonable terms, and committed…