• Sign in to follow this  
    Followers 0

    Used Car Prices Are Dropping


    William Maley

    Staff Writer - CheersandGears.com

    July 30, 2013

    Interested in buying a used car? Then we got some good news for you.

    According to Associated Press (via The Detroit News), prices of used cars are dropping. Despite hitting an all-time high back in 2011 thanks to fewer used cars in stock, prices since then have been declining. According to to data from auction company Manheim, the average sale price of a vehicle at auction in June was $11,031, down 6 percent when compared to the peak of used car prices in May 2011.

    The reason? Sales of new vehicles are on the rise, which means an increase of used cars.

    Which vehicle segment saw the largest drop? That would be hybrids which saw a 15 percent drop in their three-year value. Following that are compact cars which saw an 8.5 percent drop and small SUVs with a 7 percent drop. Luxury vehicles and trucks saw the lowest drop of one percent.

    Source: The Detroit News

    William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.

    0


    Sign in to follow this  
    Followers 0


    User Feedback


    With the recovery from the storms pretty much over, people that needed to get an auto right away are taken care of and now it is focused on other things. Plus the variety of new quality cars are making people hold off on buying an older less quality auto and buy something new. IMO

    0

    Share this comment


    Link to comment
    Share on other sites

    Still not down here...wow!

    Don't think there will be a big drop off regardless how many new they sell.

    Once you can make money you run with it....

    0

    Share this comment


    Link to comment
    Share on other sites


    Your content will need to be approved by a moderator

    Guest
    You are commenting as a guest. If you have an account, please sign in.
    Add a comment...

    ×   You have pasted content with formatting.   Remove formatting

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor




  • Popular Stories

  • Today's Birthdays

    1. svz-07
      svz-07
      (37 years old)
  • Similar Content

    • By William Maley
      The past few years have seen a number of start-ups tackling an issue that has been a thorn in the side of consumers, buying a used car. Companies such as Beepi, Carvana, Shift, and Vroom have their own take on selling used vehicles, but the goal is the same - make it less of a hassle to buy a car by selling directly to a consumer through the internet at a lower price. But one of these companies has folded most of their operations.
      Beepi, one of the first companies to launch back in 2014 folded most of its operations last week and announced yesterday that it would be merging Fair.com, a soon to launch online vehicle retail platform. As a result, 180 people lost their jobs while the remaining 80 employees and Beepi CEO Ale Resnik will move over to Fair.com.
      "It's disappointing. We were collectively working to make a massive industry better. I was in support of what they were trying to do -- to bring more visibility to us all," said Gaurav Mishra, chief marketing officer for Vroom Inc. to Automotive News.
      Beepi's business model worked like this; a consumer would contact Beepi about selling their vehicle. The company would send out a team member to inspect the vehicle. If it meets their criteria, pictures of the vehicle would be taken and would be posted online. If someone decides to buy the vehicle, Beepi will deliver the vehicle with a bow. If the vehicle didn't sell within 30 days, Beepi would offer to buy them.
      Seems like a good business plan except for one thing, a buyer couldn't test drive the vehicle. Alan Haig, president of buy-sell advisory firm Haig Partners said one of the big issues for these companies is that a customer cannot kick the tires. A study done by Auto Trader back in 2015 backs this up with 90 percent of shoppers would not buy a vehicle without doing a test drive.
      "Eighty-eight percent of consumers say they will not buy a car without test driving it first. (Beepi) spent millions of dollars on TV and radio trying to convince consumers that buying without ever seeing a car is the future. We, on the other hand, provide customers with an amazing test drive delivered to your door experience," said Shift CEO George Arison in an email to employees and obtained by USA Today.
      This email also revealed that Beepi reached out to Shift about possibly buying them.
      Beepi also lost one of their major backers earlier this year. TechCrunch believes that SAIC which was revealed to be an investor last year decided to pull out. It is unknown as to why SAIC decided to leave.
      "There are plenty of companies out there claiming to be on the cusp of 'obsoleting' the traditional car-buying process, but it’s easier said than done, and nobody has accomplished it despite a lot of time and money spent trying," said Karl Brauer, an analyst with Kelly Blue Book.
      Source: Automotive News (Subscription Required), TechCrunch, USA Today

      View full article
    • By William Maley
      The past few years have seen a number of start-ups tackling an issue that has been a thorn in the side of consumers, buying a used car. Companies such as Beepi, Carvana, Shift, and Vroom have their own take on selling used vehicles, but the goal is the same - make it less of a hassle to buy a car by selling directly to a consumer through the internet at a lower price. But one of these companies has folded most of their operations.
      Beepi, one of the first companies to launch back in 2014 folded most of its operations last week and announced yesterday that it would be merging Fair.com, a soon to launch online vehicle retail platform. As a result, 180 people lost their jobs while the remaining 80 employees and Beepi CEO Ale Resnik will move over to Fair.com.
      "It's disappointing. We were collectively working to make a massive industry better. I was in support of what they were trying to do -- to bring more visibility to us all," said Gaurav Mishra, chief marketing officer for Vroom Inc. to Automotive News.
      Beepi's business model worked like this; a consumer would contact Beepi about selling their vehicle. The company would send out a team member to inspect the vehicle. If it meets their criteria, pictures of the vehicle would be taken and would be posted online. If someone decides to buy the vehicle, Beepi will deliver the vehicle with a bow. If the vehicle didn't sell within 30 days, Beepi would offer to buy them.
      Seems like a good business plan except for one thing, a buyer couldn't test drive the vehicle. Alan Haig, president of buy-sell advisory firm Haig Partners said one of the big issues for these companies is that a customer cannot kick the tires. A study done by Auto Trader back in 2015 backs this up with 90 percent of shoppers would not buy a vehicle without doing a test drive.
      "Eighty-eight percent of consumers say they will not buy a car without test driving it first. (Beepi) spent millions of dollars on TV and radio trying to convince consumers that buying without ever seeing a car is the future. We, on the other hand, provide customers with an amazing test drive delivered to your door experience," said Shift CEO George Arison in an email to employees and obtained by USA Today.
      This email also revealed that Beepi reached out to Shift about possibly buying them.
      Beepi also lost one of their major backers earlier this year. TechCrunch believes that SAIC which was revealed to be an investor last year decided to pull out. It is unknown as to why SAIC decided to leave.
      "There are plenty of companies out there claiming to be on the cusp of 'obsoleting' the traditional car-buying process, but it’s easier said than done, and nobody has accomplished it despite a lot of time and money spent trying," said Karl Brauer, an analyst with Kelly Blue Book.
      Source: Automotive News (Subscription Required), TechCrunch, USA Today
    • By William Maley
      As a number of manufacturers are running away from diesel (and who can blame them), Chevrolet is running towards it with the introduction of the Cruze Diesel early next year. Now Chevrolet has announced pricing for the diesel variant.
      The Cruze Diesel will begin at $24,670 for the six-speed manual and $26,270 for the nine-speed automatic. Like the previous Cruze Diesel, the new model will only be available in the LT trim which nets you LED daytime running lights, seven-inch infotainment system, and six-speaker audio system. The diesel will also get the optional Convenience package as standard - keyless entry, push-button start, power driver's seat, and heat for the front seats. 
      In terms of options, a leather package for $1,125 is available for both transmissions. The automatic also gets the option of the Sun/Sound/Confidence package. The 'too many words for a name' package adds a Bose nine-speaker audio system, an 8-inch infotainment system, a color screen for the trip computer, power sunroof, blind-spot monitoring, rear parking sensors, and rear cross-traffic alert. This package adds $3,680.
      It should be noted this pricing is for the sedan. The Cruze Diesel hatchback isn't due till 2018.
      Source: Car and Driver, Roadshow
      Pic Credit: William Maley for Cheers & Gears

      View full article
    • By William Maley
      As a number of manufacturers are running away from diesel (and who can blame them), Chevrolet is running towards it with the introduction of the Cruze Diesel early next year. Now Chevrolet has announced pricing for the diesel variant.
      The Cruze Diesel will begin at $24,670 for the six-speed manual and $26,270 for the nine-speed automatic. Like the previous Cruze Diesel, the new model will only be available in the LT trim which nets you LED daytime running lights, seven-inch infotainment system, and six-speaker audio system. The diesel will also get the optional Convenience package as standard - keyless entry, push-button start, power driver's seat, and heat for the front seats. 
      In terms of options, a leather package for $1,125 is available for both transmissions. The automatic also gets the option of the Sun/Sound/Confidence package. The 'too many words for a name' package adds a Bose nine-speaker audio system, an 8-inch infotainment system, a color screen for the trip computer, power sunroof, blind-spot monitoring, rear parking sensors, and rear cross-traffic alert. This package adds $3,680.
      It should be noted this pricing is for the sedan. The Cruze Diesel hatchback isn't due till 2018.
      Source: Car and Driver, Roadshow
      Pic Credit: William Maley for Cheers & Gears
    • By William Maley
      It seems we are finally coming to the end of a long tunnel with the Alfa Romeo Giulia as the company has announced pricing for the lineup that will begin selling this month. Although there will only be one Giulia available for the time being and that is the most expensive one.
      The Giulia Quadrifoglio will carry a base price of $73,595 (includes a $1,595 destination charge). The Quadrifoglio will feature a twin-turbo 2.9L V6 with 505 horsepower, all-wheel drive, torque vectoring, carbon-fiber body parts, adaptive suspension, navigation, and blind spot monitoring. As we reported back in October, the U.S. Quadrifoglio will not get the six-speed manual. It will only be offered with the eight-speed automatic.
      A month later, the Giulia and Giulia Ti will arrive. Both will feature a turbocharged 2.0L four-cylinder with 280 horsepower and 306 pound-feet of torque and eight-speed automatic. Rear-wheel drive comes standard while all-wheel drive is a $2,000. So what's the difference between the two? Feature set.
      Giulia ($38,990 after $995 destination charge): Leather upholstery, 10-way power front seats with lumbar adjustment, push-button ignition, remote start, backup camera, 6.5-inch infotainment system, 17-inch wheels, and more.
      Giulia Ti ($40,990 after $995 destination charge): Includes Giulia's standard equipment along with heated steering wheel, heated seats, 8.8-inch infotainment system, 18-inch wheels, and more.
      Source: Alfa Romeo 
      Press Release is on Page 2
      Alfa Romeo Announces Pricing for All-new 2017 Giulia Lineup
      Premium Mid-size Sedan Named “Car of the Year” by Top Gear Magazine Starts at $37,995 MSRP & Record-Breaking 505-hp Quadrifoglio at $72,000 MSRP  All-new Giulia lineup combines Italian craftsmanship, class-leading performance, state-of-the-art technology and a passion for driving for the premium mid-size market Giulia nameplate reflects a 55-year heritage of Alfa Romeo's lightweight, performance sedan tradition and over 105 years of brand history, carving its legend on road courses around the globe Stunning Italian design and crafted by Alfa Romeo artisans at the Cassino plant in Frosinone, Italy All Giulia models feature a near perfect 50:50 weight distribution, class-leading power and performance and an eight-speed automatic transmission with available column-mounted paddle shifters with gear shifts in less than 100 milliseconds Giulia is very well-equipped with standard premium features, including a 280-hp turbocharged and intercooled 2.0L engine delivering 0-60 mph in 5.1 seconds, DNA Mode, leather interior, bi-xenon headlamps, dual exhaust, carbon fiber driveshaft, flat-bottom steering wheel, 7-inch TFT and much more Giulia Ti (Turismo Internazionale) adds 18-inch aluminum wheels, genuine wood interior accents, heated front seats, heated steering wheel, 8.8-inch widescreen infotainment with SiriusXM and much more Giulia Ti Sport adds Quadrifoglio-inspired unique front and rear fascias, 19-inch dark 5-hole aluminum wheels, 12-way power high-performance leather seats, aluminum column-mounted paddle shifters, sport steering wheel, genuine aluminum interior accents, gloss-black window trim surround and colored brake calipers State-of-the-art Q4 all-wheel-drive system available on Giulia and Giulia Ti Giulia Quadrifoglio features distinct styling and the most powerful engine ever developed in a production Alfa Romeo with an all-new 505-hp 2.9L bi-turbo intercooled V-6, carbon fiber hood, roof and rear spoiler, adaptive performance suspension, DNA Pro with Race Mode, torque vectoring, carbon fiber active aero front splitter, carbon fiber interior accents, 3D Navigation and much more Giulia and Giulia Ti go on sale in January 2017 with an MSRP of $37,995 and $39,995, respectively Giulia Quadrifoglio goes on sale this month with an MSRP of $72,000 December 8, 2016 , Auburn Hills, Mich. - Alfa Romeo today announced pricing for the highly anticipated 2017 Alfa Romeo Giulia lineup.
      “The all-new Giulia is the result of our 105 years of passion for Italian style, craftsmanship and performance,” said Reid Bigland, Head of Alfa Romeo. “Crafted in Italy, the Giulia lineup sets an entirely new benchmark for the segment as the world’s fastest four-door production sedan, featuring class-leading engines, an all-new exclusive architecture, stunning design and state-of-the art technology, available starting from $37,995 MSRP.”
       
      Built around the driver, Alfa Romeo Giulia designers focused on simplistic elegance, with an emphasis on incorporating the essential elements for performance. Inside, Giulia’s high level of craftsmanship starts with an asymmetric-styled instrument panel, featuring a driver-focused cockpit crafted with an array of available leathers with accent stitching, plus trim bezels in aluminum, wood or carbon fiber – all for a bespoke look that could only be crafted in Italy. A Formula-1-inspired steering wheel features a thick-rim profile that transmits the chassis’ direct-steering feel and neatly groups the vehicle controls and the engine start button. Behind the steering wheel, the Giulia features a full-color 7-inch thin-film transistor (TFT) instrument cluster straddled by two large white-on-black face analog gauges.
       
      Giulia Quadrifoglio stands as the most powerful Alfa Romeo production car ever with its 2.9L bi-turbo V-6 engine producing a class-leading 505 horsepower and 443 lb.-ft. of torque. The Giulia and Giulia Ti models feature an all-new, all-aluminum, 2.0-liter, direct-injection turbo engine with an eight-speed automatic transmission delivering a class-leading, standard 280 hp and 306 lb.-ft. of torque.
       
      With its muscular proportions and a pure design ethos of passion, lightness and simplistic elegance clothing its class-leading technical layout with near perfect 50/50 weight balance, the all-new 2017 Giulia exudes stunning and functional Italian style with a finesse of Alfa Romeo heritage, athletically taut lines and sculptural details.
      2017 Alfa Romeo Giulia
      Manufacturer’s suggested retail price (MSRP) for the 2017 Alfa Romeo Giulia is $37,995 (excluding $995 destination) Optional Q4 all-wheel-drive (AWD) system available for $2,000 MSRP Alfa Romeo Giulia features an all-new, all-aluminum, 2.0-liter, direct-injection turbocharged engine that generates a class-leading, standard 280 horsepower and 306 lb.-ft. of torque. Paired with an eight-speed automatic transmission, Giulia launches from 0-60 mph in 5.1 seconds, on the way to a top speed of 149 mph The all-new, well-equipped Alfa Romeo Giulia comes standard with leather seats, 10-way power front seats including 4-way lumbar, bi-xenon headlamps with signature LED daytime running lights and LED tail lamps, dual exhaust, back-up camera with dynamic gridlines and rear park sensors, bright chrome window trim surround, remote proximity sensor with push button start, remote start, 7-inch full-color TFT display and much, much more Available Sport Exterior Package ($1,250 MSRP) adds unique front and rear fascias, 18-inch aluminum sport wheels, gloss black window trim surround and colored brake calipers  
      2017 Alfa Romeo Giulia Ti
      MSRP for the 2017 Alfa Romeo Giulia Ti model is $39,995 (excluding $995 destination) Optional Q4 AWD system available for $2,000 MSRP In addition to the expansive list of standard features in the all-new Giulia, Giulia Ti adds even more luxury and convenience offerings, including standard 18-inch wheels, genuine wood interior accents, an 8.8-inch widescreen infotainment display, SiriusXM, heated steering wheel, heated front seats and more Available Ti Sport and Ti Lusso packages (priced at $2,250 MSRP each) provide drivers with two unique offerings that further accentuate the bold characteristics of Giulia Ti Ti Sport adds unique front and rear sport fascias, 19-inch dark 5-hole aluminum wheels, gloss black window trim surround, colored brake calipers, 14-way front power sport leather seats, including 4-way lumbar and power side bolsters, along with manual thigh extenders, sport leather steering wheel and aluminum column-mounted paddle shifters Ti Lusso includes Luxury Pieno Fiore Italian leather seats with cannelloni inserts, 12-way power front seats including 4-way lumbar, leather-wrapped dash and upper door trim with accent stitching, genuine wood trim in dark grey oak or light walnut, luxury steering wheel and more Ti Performance Package adds an adaptive performance suspension, mechanical limited slip differential and aluminum column-mounted paddle shifters  
      2017 Alfa Romeo Giulia Quadrifoglio
      MSRP for the 2017 Alfa Romeo Giulia Quadrifoglio model is $72,000 (excluding $1,595 destination) Includes the iconic hand-painted Quadrifoglio (four-leaf clover) badge that is symbolic of legendary Alfa Romeo race cars and high-performance production cars As the “halo” model in the lineup, Giulia Quadrifoglio highlights Alfa Romeo’s motorsport knowhow with an all-new, best-in-class, 505-horsepower, 2.9-liter bi-turbo V-6 engine that earns the title of the most powerful Alfa Romeo production car engine ever and the quickest with a class-leading 0-60 mph time of 3.8 seconds, plus it enabled a record-setting 7:32 Nürburgring lap time – the fastest ever by a four-door production sedan Giulia Quadrifoglio also includes unique exterior styling, carbon fiber hood, roof, rear spoiler and side sill insert, carbon fiber active aero front splitter, DNA Pro with Race Mode and adjustable performance suspension, 19-inch aluminum wheels with Brembo brakes, high-performance leather seats with 14-way power front seats including 4-way lumbar, leather-wrapped dash and doors with accent stitching, carbon fiber interior trim and much more  
      All three Giulia models offer:
      Near perfect 50/50 weight distribution, segment-leading torsional rigidity and the most direct steering ratio on the market, thanks to Giulia’s all-new, rear-wheel-drive Giorgio architecture Unique Italian style and craftsmanship to the premium mid-size sedan segment A 55-year heritage of Giulia’s lightweight, performance sedan tradition and more than 105 years of brand history, carving its legend on road courses around the globe
      View full article
  • Recent Status Updates

  • Who's Online (See full list)