19/09/2024
ISLAMABAD: The Ministry of Commerce on Thursday amended the Import Policy 2022 to relax the restrictions imposed on the import of used and unregistered cars.
According to detail, the government has allowed the import of used cars having a mileage of 2,000 kilometers against the previous policy that only allowed the import of cars having up to 500 kilometers of mileage.
According to the new and amended import policy, those cars having mileage up to 2,000 kilometers could also be considered as “new”, and could be imported.
It is pertinent to know that imports have a significant impact on the…
04/09/2024
OEMs and franchised dealers face a daunting task to deliver sales mix and volume expectations in the new car market as many private buyers find young used cars much more attractive thanks to recent price drops, according to Vertu Motors, one of the biggest motor retailers in the AM100.
Its latest trading statement notes that after falling used car prices have stabilized, Vertu has actively worked to increase the turnover of used vehicle stock and reduce overall inventory levels. As a result, there has been an improvement in gross profit per unit from used vehicle sales in recent weeks.
Manufacturers…
02/09/2024
Restrictions on import of used cars relaxed
ISLAMABAD: The Ministry of Commerce made revisions to the Import Policy 2022 on Thursday, easing restrictions on the import of used and unregistered vehicles.
According to the updated policy, the government now permits the importation of used cars with a mileage of up to 2,000 kilometers, contrasting with the previous regulation which restricted imports to vehicles with a maximum mileage of 500 kilometers.
Under the revised import policy, vehicles with mileage not exceeding 2,000 kilometers will be classified as “new,” as outlined in the ministry’s notification.
It’s noteworthy that imports significantly impact the…
01/09/2024
However, they’re still around 33 percent higher than they were before the pandemic at the end of 2019
January 14, 2024 at 16:04
The wholesale value of secondhand vehicles was down 7.0 percent at the end of 2023, which was a sharper decline than analysts predicted. That means that used vehicle prices are down nearly 21 percent, as compared to their pandemic peak in December 2021.
The final two weeks of 2023, in particular, saw above-average declines in the three-year-old used vehicle market, and over the course of December, average prices dropped by 1.4 percent. By comparison, before the pandemic…
29/08/2024
FOUR used car brands that sell for a profit have been revealed by a motors dealer – and they’re all from the same country.
Kenny Martin owns Competition Cars and Classics in Salem, Virginia.
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Kenny Martin says Japanese-made Honda, Toyota, Mazda and Subaru’s should be at the top of any car flipper’s list
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Cars like the Subaru Forester, a Japanese car, should be at the top of any car flipper’s listCredit: Getty
The petrol head says Japanese-made Honda, Toyota, Mazda and Subaru’s should be at the top of any car flipper’s list.
Sharing his top tips on TikTok,…
21/08/2024
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…
15/08/2024
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…
13/08/2024
By: HT Auto Desk | Updated on: Mar 28, 2024, 16:56 PM
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.
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…