Through the first half of August, wholesale used prices for vehicles up to eight years in age dropped by 3% relative to July. The month’s preliminary result is nearly identical to last August’s month-end figure of 2.9%.
The all-new aluminum-bodied 2015 Ford F-150 crew cab recently received the Insurance Institute for Highway Safety’s 2015 Top Safety Pick award; however, the extended cab version struggled in an important small overlap crash test. While crew cab versions of the F-150 earned solid ratings for occupant protection in all five IIHS crashworthiness evaluations, extended cab versions earned good ratings in four out of five assessments, but only managed a marginal rating in a key small overlap front crash.
Over the past several years, rebates and tax credits have been an effective tool used by automakers to sell electric vehicles (EVs) to lower the MSRP potential consumers face. The use of these incentives has helped narrow the price gap between EVs and comparable internal combustion engine (ICE) models, ultimately getting more buyers into the seats of EVs.
Ford Motor Co. has dusted off some old tricks in order to help boost sales by way of old-school stair-step incentives. So far the ploy seems to be working. Ford was able to grow sales by 6% in April, which was much better than the 3.7% loss the brand recorded in March. New product like the Mustang, Edge and F-150 certainly help, but the allure of added profits undoubtedly pushed dealers harder as well.
After finishing the month up by 2.3% in March, wholesale prices for used vehicles up to eight years have fallen by 1.3% through the first three weeks in April. So far, April’s loss is a slight improvement over the 1.5% decline averaged for the month over the past 10 years (excluding 2011’s rise in prices caused by the Japanese tsunami).
At the 2015 NADA & J.D. Power Automotive Forum held before the New York International Auto Show, Investment mogul Warren Buffett―who seems to own a piece of everything― answered several questions before a packed hotel ballroom.
According to the business mogul, “[Automobile Dealerships] can be a good and very profitable business.” Buffett went on to suggest that over the course of the next few years there will be several more acquisitions by his company Berkshire Hathaway, but there are no plans to expand outside of the U.S. anytime soon.
After increasing by 0.8% on a prior month basis in February, wholesale prices for used vehicles up to eight years in age grew by 1.9% through the first half of March. This month’s preliminary results are right in line directionally with NADA’s forecast, although slightly higher than originally anticipated. The month’s sharp increase can be attributed toward pent-up demand stemming from February’s tepid weather-afflicted performance.
Ford Motor Company officially launched the new aluminum bodied 2015 F-150 late last year and sales have been strong. That said, we’re not just talking about overall sales volume but, actual transaction prices. According to J.D. Power data, roughly 65 percent of new 2015 4WD Crew Cab Ford F-150 3.5L EcoBoost-equipped models sold have carried transaction prices above $56,000 since January this year (J.D. Power data does not include cash incentives).
Consumer Reports recently released its 10 Top Picks of 2015, and while the Tesla Model S won the overall best car award for the second consecutive year, some of the other winners might really surprise you. After years of mediocre product offerings, depressed sales and recall woes, American automaker General Motors saw two of its cars mixing it up with the best of the best.
Wholesale prices for used vehicles up to eight years in age remain essentially unchanged through the first half of February with average prices increasing by only 0.2%. This month’s sluggish preliminary results can certainly be attributed to brutal winter weather and frigid temperatures throughout most of the country, especially parts of the northeast―like Boston.