Used car prices in 2024 are likely to begin to stabilize after the dramatic drops seen in the last three months.
Revealing a 2.1% fall in trade used car prices for December, Cap HPI director of valuations Derren Martin gave Car Dealer his predictions for the year ahead.
The December fall means trade used car prices have now dropped 10.5% in the last quarter of 2023.Speaking to Car Dealer in an exclusive video interview (above), Martin said the December figures were among the worst on record, but were still a significant improvement on the previous two months.
Martin said:…
Author: Dara
This Windsor, Ont., man is paying for a car he can’t drive. He’s calling for stronger consumer rights
A Windsor, Ont., man who has spent months without a vehicle as his SUV sits in the dealership’s lot, awaiting parts, following an accident is calling for stronger consumer laws.
Mohamed Ahmed says the March car accident left his then month-old vehicle undrivable. He said he wasn’t offered a replacement, and was “shocked” to learn he didn’t have a legal right to one.
Ahmed financed a 2023 Volkswagen Tiguan in February. He is still waiting for the arrival of two main parts — a steering rack and rims — so his vehicle can be fixed.
“There is no ETA on…
Hyundai vehicles to be available online in 2024
José Muñoz (right), CEO of Hyundai North America, and Marty Mallick, vice president for Amazon worldwide business and corporate development, at the Los Angeles Auto Show. Photo: Amazon via Business WireAmazon plans to begin allowing Hyundai dealers to sell new vehicles on its platform, launching the e-commerce giant into the lucrative but highly competitive car market for the first time.
Why it matters: Amazon’s sheer e-commerce heft means the company must immediately be taken seriously in the automotive retail space.Driving the news: Amazon announced its plans Thursday during the 2023 Los Angeles Auto Show, and said Hyundai would…
Stellantis unveils aftermarket parts brand to complement Mopar
Stellantis unveils aftermarket parts brand to complement Mopar | 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…
New Mass. right-to-repair law now being enforced
Local News
The law, which voters approved in 2020, requires certain vehicle information to be shared with buyers and independent repair shops. Massachusetts Attorney General Andrea Campbell began enforcement on June 1.A judge paved the way for Massachusetts Attorney General Andrea Campbell to begin enforcing a new law that will require certain vehicle information to be shared with buyers and independent repair shops. Suzanne Kreiter/Boston GlobeOn Thursday, Massachusetts Attorney general Andrea Campbell began enforcing the state’s new right-to-repair law following years of bitter debate and a wildly expensive ballot initiative that was approved by voters in 2020.
Here’s…
DGGI seeks higher GST from auto parts makers
Goods and services tax authorities have raised higher tax demands to several automotive component manufacturers, citing a Supreme Court judgment regarding a company owned by the West Bengal government.
The Directorate General of Goods and Services Tax Intelligence (DGGI) sent notices to at least 17 such companies in the last 45 days alone with total tax demands of over ₹1,200 crore, said people were close to the development. Officials said the amount could go up further as more notices will be sent.
“Going by the Supreme Court order in the case of M/s Westinghouse Saxby Farmer, parts used exclusively for…
Repco, Supercheap fined by consumer watchdog over button battery products
Australian automotive accessory retailers Repco and Supercheap Auto have been fined for supplying car key remotes that allegedly breached warning requirements for products powered by button batteries.The Australian Competition and Consumer Commission (ACCC) issued infringement notices to the Innovative Mechatronics Group (IMG) over four different models of replacement car key remotes supplied by IMG to Repco and Supercheap Auto that allegedly failed to include the required safety warning labels about the hazards associated with button batteries, which is a serious safety risk to children.It also fined Repco and Supercheap Auto for supplying two types of car key remotes…
VW to halt T-Roc output in Portugal
Volkswagen will pause production of the T-Roc small crossover, its top seller in Europe, after heavy floods disrupted engine parts supplies.
Output of other models across the automaker’s European factory network may also be hit after a supplier in Slovenia was impacted by flooding in the country.
VW will halt T-Roc output at its Autoeuropa plant in Setubal, Portugal between Sept. 11 and Nov. 12, the factory workers’ commission said on Thursday.
It said the company would temporarily lay off staff during this time, but that the situation as it stands now should not have a negative impact on workers’…