As might be expected, it appears new VW brand sales received a shot in the arm from the spike in demand generated by the repurchase program. Volkswagen’s new vehicle sales were down substantially over the 13 months after the diesel scandal became public in September 2015. In fact, sales dropped by an average of 21% per month over the period. However, new VW brand sales have now increased by an average of 21% per month in the three months since the repurchase program went live last November.
In this inaugural edition of NADA Used Car Guide’s This or That?, we’re pitting two popular BMW sedans against each other: the iconic 3-Series and luxurious 7-series. Both can be purchased for roughly the same amount and are covered under BMW manufacturer-backed warranty programs. However, one of these vehicles was nearly $100,000 when it was new, and is now three years old.
All of the negative information surrounding the diesel scandal has contributed to a detrimental impact on used VW diesel and gasoline vehicle values.
Corvette fans all over the world can rejoice in knowing the racing-inspired Grand Sport is making a return for summer in 2017. After a three year hiatus from the Corvette lineup, Chevrolet announced its plans to bring the Grand Sport back last week at the Geneva International Motor Show.
According to Experian Automotive’s State of the Automotive Finance Market Third Quarter 2015 report, outstanding automotive loan balances have jumped up 11.3% to $968 billion. The rise is roughly $100 billion more than the same period in 2014.
Regarding wholesale auction prices, not much has changed compared to last week. Gas-powered Jetta and Passat prices for model years 2011-2013 have fallen by amounts similar to those of their respective segment. In the five most recent weeks post-issue, 2011-2013 gas-powered Jetta prices declined by a range of 4.2% – 9.2%. During this same period compact car segment prices were down by an average of 3.2% – 3.9%. Similar to the Jetta, 2012 – 2013 gas-powered Passat prices have declined by 1.9% – 6.8%, whereas average midsize car prices declined by 3.1% – 3.8%.
Wholesale auction prices, gas-powered Jetta and Passat prices for model years 2011-2013 have fallen by amounts similar to those of their respective segment.
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.