Mid-Month Update: Used Vehicle Prices Are Down 1.5% in May, So Far…..

After falling by 1.7% in April, used vehicle prices for units up to eight model years in age have continued to soften a bit through the first few weeks in May having declined by an average of 1.5%. In terms of month-over-month declines, the steepest losses have been recorded in the compact car and mid-size car segments, which have slipped by averages of 2.7% and 2.6%, respectively.  The compact utility, luxury utility, and mid-size utility segments all dropped as well, with losses essentially equal to  the  1.5% total market  decline.  Luxury cars and mid-size vans ...

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Incentive Spike: Average Spending Increases 4.5% in April

Average incentive spending across all brands grew for the third consecutive month on an annual basis reaching $2,536 in April.  April’s increase equates to a 4.5% lift relative to what was recorded during the same period last year, quite a bit higher than February’s 0.6% and March’s 0.9% increases.  While new sales improved as a whole in April, many manufactures substantially increased incentive spending to keep things moving in a positive direction. At a brand level on the mainstream side, Hyundai increased spending more than any other manufacturer as average spending rose by 31. ...

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The Tesla Model S Electrifies with Highest-Ever Score from Consumer Reports

It may just be that the “S” stands for spectacular. Tesla’s Model S reached new bounds by receiving a score of 99 out of 100 from Consumer Reports, which tied for the highest score ever achieved (the 2007 Lexus LS being the other to accomplish this feat). Ten years and two models is all it took before Tesla raced to the head of the pack, but with its new Model S leading the way, it appears that this is just the beginning of a very bright future for the automaker. It was only last summer when the four-door Tesla first went on sale, but the premium electric sedan has quickly garnered pra ...

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Large Pickup Truck Sales Boom: Silverado Leads the Pack Up 22% in Q1

Things are looking good in the large pickup truck world, first quarter sales are in and new deliveries increased by an average of 17.9% across all makes and models. GM led the pack in terms of growth, Chevrolet Silverado and GMC Sierra sales increased enough for a collective 20.8% lift in compared to last year. Ram full-size truck sales also increased by a substantial 18.3% while Ford F-Series sales grew by a still impressive 15.7%.  The lowest volume trucks in this segment were also the ones that experienced the smallest rate of growth during Q1. Toyota Tundra sales were up 15 ...

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Q1 Mazda6 Sales Decline by Over 38%

Earlier this year Mazda introduced an entirely redesigned version of their flagship Mazda6 to compete in the scorching hot midsize car segment.   So far things are off to a slow start for Mazda as first quarter sales were down by over 38% compared to the same period last year.  During its first three months of the year Mazda6 deliveries fell just under the 11k unit mark which is a huge decline compared to last year’s 18k sales. January and February combined sales for the Mazda6 failed to cross the 6,000 unit threshold.  Sales did pick up in March allowing the brand t ...

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The King has Fallen – or at Least Stumbled: Camry Cedes Crown to Altima

Final March sales numbers are in and Nissan is elated to report that they have narrowly edged out both Toyota and Honda for the number one midsize car sales spot. Narrowly might be a slight understatement, 115 units was all that separated the Altima’s total 37,763 sales from the Camry’s 37,648.  Honda managed to secure the number three spot selling 36,449 units of their recently redesigned Accord, just a mere 1,314 shy of the number one Altima. Another contender in the midsize car sales fight comes from Ford with their also recently redesigned Fusion. Fusion sales totaled ...

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2013 New York Auto Show – The Jeep Cherokee Is Back!

This year’s New York Auto Show had some exciting new product announcements to report on after a scarce lineup in Chicago earlier this year. This year’s show ushered in a slew of new redesigns and even resurrected a nameplate from the past. One of the most anticipated introductions came from Jeep which announced the return of the Cherokee nameplate for the 2014 model year.  Sitting on top of an Alfa Romeo based platform (shared with the Dodge Dart) the new Cherokee will be offered in both front and all-wheel drive versions backed by a 2.4L four cylinder engine or 3.2L Pentastar V6. & ...

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Honda Sales Slip in February despite New Models

Honda brand sales decreased by 2.3% last month compared to the same period last year ending what had been a nine-month straight run on positive growth.  The unexpected decline in sales comes as a bit of a surprise because Honda had recently redesigned strategically important models which should’ve helped improve sales. When looking at the details, sales weren’t all that bad for Honda last month.  Of the brand’s highest volume vehicles, both the new-for-’13 Accord and redesigned-for-’12 CR-V were up an impressive 35% and 16.5%, respectively. The disappointment fell on the ...

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Suzuki Bankruptcy Update: Where are Values Now?

It’s been four months now since the American Suzuki Motor Corporation announced last November that they would be going through Chapter 11 bankruptcy and eliminating what’s left of its automotive sales division here in the US. Here’s a quick look at how Suzuki sales fared over the past decade, along with a review of how their used vehicle values have trended following the bankruptcy announcement. The chart below shows a ten year recap of Suzuki sales here in the US.  As we can see, Suzuki sales were steadily improving throughout the early part of the last decade before peaking in 2007 whe ...

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Rising Gas Prices: It’s That Time of Year – Again

The passing of the first quarter of a given year brings with it some inevitable certainties – the progressive challenge of sticking to one’s New Year resolutions, the start of MLB spring training, March Madness and…an acute rise in gasoline prices. While the annual passing of the first three points has been in existence for numerous decades, the same can’t exactly be said for the large bounce in gas prices. From 1992 – 2004, gas prices increased by an average of 13 cents from the beginning of the year to the start of the summer. However, from 2005 – 2012 gas prices grew by an average of ...

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