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  1. Tesla isn't done with price cuts it seems. Bloomberg reports that the automaker has dropped the price of all Model 3 models by $1,100 - bringing the base price to $42,900. The reason cited by Tesla was the end of a customer referral program that ended up costing them more than they realize. The program gave new owners six months of free supercharging if they were referred by a friend. Those who referred a number of people got rewarded with various prizes such as getting the next-generation Tesla Roadster. This is the second price cut for Model 3 this year. Last month, Tesla institute
  2. Tesla isn't done with price cuts it seems. Bloomberg reports that the automaker has dropped the price of all Model 3 models by $1,100 - bringing the base price to $42,900. The reason cited by Tesla was the end of a customer referral program that ended up costing them more than they realize. The program gave new owners six months of free supercharging if they were referred by a friend. Those who referred a number of people got rewarded with various prizes such as getting the next-generation Tesla Roadster. This is the second price cut for Model 3 this year. Last month, Tesla institute
  3. Prices on new pickup trucks have been steadily increasing as more people are choosing them as their family vehicle and in turn are wanting more luxury features. But this rise in prices has been making it harder for the average buyer to afford one. Data from Edmunds shows through September, the average transaction price for a full-size pickup is $48,377; a 48 percent increase when compared to 10 years ago and 19 percent increased when compared to 2013. "A 48-percent increase in price is the highest price increase for that time period out of all vehicle categories. Even at $45,000, it
  4. Prices on new pickup trucks have been steadily increasing as more people are choosing them as their family vehicle and in turn are wanting more luxury features. But this rise in prices has been making it harder for the average buyer to afford one. Data from Edmunds shows through September, the average transaction price for a full-size pickup is $48,377; a 48 percent increase when compared to 10 years ago and 19 percent increased when compared to 2013. "A 48-percent increase in price is the highest price increase for that time period out of all vehicle categories. Even at $45,000, it
  5. With more people trending towards trucks and utility vehicles, it would be expected that prices on cars would be falling. But not on used cars according to Edmunds. In their latest Used Car Report, Edmunds says the average price for a used subcompact rose 3 percent in the first quarter. Compacts saw their average price increase by 3.9 percent. The reason according to the report is due to the increasing cost for a gallon of gas. "Used-car shoppers are typically more price-sensitive to changes in the market, but this is the first time in years that we're seeing renewed demand for smal
  6. With more people trending towards trucks and utility vehicles, it would be expected that prices on cars would be falling. But not on used cars according to Edmunds. In their latest Used Car Report, Edmunds says the average price for a used subcompact rose 3 percent in the first quarter. Compacts saw their average price increase by 3.9 percent. The reason according to the report is due to the increasing cost for a gallon of gas. "Used-car shoppers are typically more price-sensitive to changes in the market, but this is the first time in years that we're seeing renewed demand for smal
  7. Sales of new cars in the U.S. have been dropping in the past three months and analysts believe April's sales results will be much the same. But why are sales falling? It comes down to prices of new cars going up and up. According to data from ALG True Car, the average new-car price rose two percent when compared to last year. Kelly Blue Book reports that the average transaction price in March increased 1.7 percent to $34,342 when compared to the same time last year. There are a number of factors as to why consumers are balking at larger prices; credit not being as easy to attain, younger
  8. Sales of new cars in the U.S. have been dropping in the past three months and analysts believe April's sales results will be much the same. But why are sales falling? It comes down to prices of new cars going up and up. According to data from ALG True Car, the average new-car price rose two percent when compared to last year. Kelly Blue Book reports that the average transaction price in March increased 1.7 percent to $34,342 when compared to the same time last year. There are a number of factors as to why consumers are balking at larger prices; credit not being as easy to attain, younger
  9. Another week has passed and some new information has come to light in the Volkswagen diesel scandal. First off, Volkswagen has confirmed one of their diesel engines doesn't have the cheat. The EA 288 TDI engine used in vehicles for the European-market has been checked out to see if it had the illegal software. In a statement issued by Volkswagen, the engine did not have “software constituting an improper defeat device as defined in laws is installed in vehicles with EA288 EU5 as well as EU6 engines in the European Union with those engines comply with legal requirements and environmental st
  10. Another week has passed and some new information has come to light in the Volkswagen diesel scandal. First off, Volkswagen has confirmed one of their diesel engines doesn't have the cheat. The EA 288 TDI engine used in vehicles for the European-market has been checked out to see if it had the illegal software. In a statement issued by Volkswagen, the engine did not have “software constituting an improper defeat device as defined in laws is installed in vehicles with EA288 EU5 as well as EU6 engines in the European Union with those engines comply with legal requirements and environmental st
  11. With the average price of new cars on the rise, the price of used cars follows suit. A new study done by Edmunds finds the average price of a used car has hit a new record high in the second quarter. The average price of a used car has climbed to $18,800, up 7.6 percent when compared to the same time last year. "People are buying more trucks and SUVs, and they're getting them better equipped. More expensive new vehicles means more expensive used vehicles," said Jessica Caldwell, analyst at Edmunds.com. What is causing the uptick in used car prices? The same items which are causing new
  12. With the average price of new cars on the rise, the price of used cars follows suit. A new study done by Edmunds finds the average price of a used car has hit a new record high in the second quarter. The average price of a used car has climbed to $18,800, up 7.6 percent when compared to the same time last year. "People are buying more trucks and SUVs, and they're getting them better equipped. More expensive new vehicles means more expensive used vehicles," said Jessica Caldwell, analyst at Edmunds.com. What is causing the uptick in used car prices? The same items which are causing new
  13. If you are considering buying a used car this year, then we have some good news for you. A new vehicle depreciation report from used car value service, Black Book and Fitch Ratings Inc., says that 2015 will see used car values depreciate 14.5 percent. This is an increase from 2014's deprecation rate of 12.1 percent. So why the increase in depreciation? It comes down to two key factors; an increased supply in used cars and a larger volume of off-lease vehicles. “2014 depreciation was defined by pockets of volatility due to seasonality, harsh weather patterns and falling fuel prices impacting
  14. If you are considering buying a used car this year, then we have some good news for you. A new vehicle depreciation report from used car value service, Black Book and Fitch Ratings Inc., says that 2015 will see used car values depreciate 14.5 percent. This is an increase from 2014's deprecation rate of 12.1 percent. So why the increase in depreciation? It comes down to two key factors; an increased supply in used cars and a larger volume of off-lease vehicles. “2014 depreciation was defined by pockets of volatility due to seasonality, harsh weather patterns and falling fuel prices impacting
  15. Since the recession has ended, the average price of a used car was soared due limited supply. But The Detroit News says with more vehicles coming in due to leases coming to an end, prices are beginning to fall. According to CNW Research, the average transaction price of a used car in September was $10,963. Compared to the same time last year, the average has dropped 2.1 percent. "During the recession, it almost cost as much to get a used car as it did to get a new car, but now the market is going back to historical norms and it's going to be better every month. From 2008 to 2012, there was a
  16. Since the recession has ended, the average price of a used car was soared due limited supply. But The Detroit News says with more vehicles coming in due to leases coming to an end, prices are beginning to fall. According to CNW Research, the average transaction price of a used car in September was $10,963. Compared to the same time last year, the average has dropped 2.1 percent. "During the recession, it almost cost as much to get a used car as it did to get a new car, but now the market is going back to historical norms and it's going to be better every month. From 2008 to 2012, there was a
  17. William Maley Staff Writer - CheersandGears.com August 7, 2013 Yesterday at at the Center for Automotive Research’s Management Briefing Seminars, General Motors' Chief Economist Mustafa Mohatarem told attendees that the reason young people aren't buying cars because they're not interested. It's more to do with economic reasons. Mohatarem downplayed the reason that young kids are more interested in the internet and what's the latest hot thing in tech, and pushed the rising costs of cars, repairs, and insurance as some of the reasons why young people aren't buying vehicles. “I don’t see any
  18. William Maley Staff Writer - CheersandGears.com August 7, 2013 Yesterday at at the Center for Automotive Research’s Management Briefing Seminars, General Motors' Chief Economist Mustafa Mohatarem told attendees that the reason young people aren't buying cars because they're not interested. It's more to do with economic reasons. Mohatarem downplayed the reason that young kids are more interested in the internet and what's the latest hot thing in tech, and pushed the rising costs of cars, repairs, and insurance as some of the reasons why young people aren't buying vehicles. “I don’t see any
  19. 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
  20. 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
  21. William Maley Staff Writer - CheersandGears.com July 1, 2013 If you been looking at used midsize trucks and wondering why the prices are somewhat high, a new study has an answer to that. According to Black Book, the deprecation rate is much lower on midsize trucks than the whole used car market. In June, used cars as a whole saw a deprecation hit of 1.3 percent. In that same time, midsize trucks saw a 0.7 deprecation hit. Look over the past year and the margin grows wider. Used cars deprecated 13.7 percent, while midsize trucks deprecated 5.1 percent. What's the cause? Ricky Beggs, senior
  22. William Maley Staff Writer - CheersandGears.com July 1, 2013 If you been looking at used midsize trucks and wondering why the prices are somewhat high, a new study has an answer to that. According to Black Book, the deprecation rate is much lower on midsize trucks than the whole used car market. In June, used cars as a whole saw a deprecation hit of 1.3 percent. In that same time, midsize trucks saw a 0.7 deprecation hit. Look over the past year and the margin grows wider. Used cars deprecated 13.7 percent, while midsize trucks deprecated 5.1 percent. What's the cause? Ricky Beggs, senior
  23. William Maley Staff Writer - CheersandGears.com June 5, 2013 Kelly Blue Book expects that prices for used 2013 Nissan Leafs will be lower than the 2012 Leaf. Announced this week, Kelly Blue Book forecasts that after three years, a 2013 Nissan Leaf will retain 35 percent of its original sticker price. That is five percent less than 2012 Leaf's resale value after three years. A major reason for the drop is attributed to 2013's lower MSRP. A 2013 Leaf starts at $29,650, a drop of $6,400 when compared to the 2012 model. Also hurting the resale value of the Leaf are nearly new models crossing
  24. William Maley Staff Writer - CheersandGears.com June 5, 2013 Kelly Blue Book expects that prices for used 2013 Nissan Leafs will be lower than the 2012 Leaf. Announced this week, Kelly Blue Book forecasts that after three years, a 2013 Nissan Leaf will retain 35 percent of its original sticker price. That is five percent less than 2012 Leaf's resale value after three years. A major reason for the drop is attributed to 2013's lower MSRP. A 2013 Leaf starts at $29,650, a drop of $6,400 when compared to the 2012 model. Also hurting the resale value of the Leaf are nearly new models crossing
  25. William Maley Staff Writer - CheersandGears.com August 23, 2012 Subaru has announced pricing for the new XV Crosstrek, aka the rugged Impreza. Starting at $21,995 (doesn't include a $795 destination charge), the XV Crosstrek gets rugged, SUV-like styling, a stiffened suspension, and 8.7 inches of ground clearance (about 3 inches higher than the normal Impreza). Standard equipment for the XV Crosstrek include a 2.0L boxer four-cylinder that produces 148 HP and 145 lb-ft of torque, five-speed manual, a six-speaker AM/FM/CD sound system with iPod integration, USB and AUX inputs, cruise contro

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