All articles tagged with #used car prices
Originally Published 16 days ago — by Yahoo Finance
A Virginia man criticizes his county for overvaluing his vehicles for tax purposes, with assessments nearly matching original purchase prices despite typical depreciation, highlighting potential flaws in the vehicle valuation system amid rising used car prices.
Originally Published 1 year ago — by Jalopnik
As used car prices continue to fall, more people are finding themselves underwater on their car loans, with the value of their trade-ins not covering the remaining debt. This trend is particularly affecting newer vehicles, as the depreciation is hitting them the hardest. While there are significant discounts available for luxury and large mainstream vehicles, those seeking more affordable transportation may struggle to find similar savings due to restricted supply. Overall, the current market conditions are making it challenging for many consumers to find good deals on both new and used cars.
Originally Published 2 years ago — by CNBC
Carvana CEO Ernie Garcia acknowledges that used car prices are currently too high and it's difficult to predict when they will come down. The company has been working to cut costs and make vehicles more affordable for customers, but external factors such as supply chain disruptions and interest rates are beyond their control. Despite the challenges, Carvana has managed to reduce expenses and improve the car buying experience. The company's shares have seen a significant increase this year.
Originally Published 2 years ago — by MarketWatch
The upcoming consumer-price index (CPI) report for June could have a significant impact on U.S. stocks and interest rates. If the report shows that inflation has decreased more than expected, it could shift the outlook for interest rates and lead to a rebound in stocks. Analysts are optimistic about the CPI report, especially after the decline in used-car prices, which is seen as a reliable indicator of inflation. A decrease in inflation could relieve pressure on the Federal Reserve to raise interest rates, potentially allowing them to cut rates or keep them lower. The report will be released on Wednesday, and investors are eagerly awaiting the results.
Originally Published 2 years ago — by Markets Insider
Used car prices in America experienced the largest monthly decline since the pandemic, with the Manheim Used Vehicle Value Index dropping by 10.3% compared to last year. This decrease in prices is expected to contribute to a potential drop in June's inflation rate below 3%, which would support the Federal Reserve's efforts to control consumer prices. Falling used car prices have a significant impact on core inflation, and if inflation falls below 3%, it would help the Fed achieve its 2% target. However, concerns remain about the potential impact of further monetary tightening on the economy.
Originally Published 2 years ago — by Barron's
Used car prices experienced a significant drop in June, setting a record decline for the month. This news has resulted in a surge in the stock prices of used car dealers, with Carvana being one of the beneficiaries.
Originally Published 2 years ago — by Barron's
Used car prices experienced a significant drop in June, setting a new record. This decline has resulted in a surge in the stock prices of used car dealers, with Carvana being one of the beneficiaries.
Originally Published 2 years ago — by Fox Business
Used car prices in the US have dropped for the second consecutive month, providing some relief to buyers after prices climbed throughout the first quarter. The Manheim Used Vehicle Value Index fell to 224.5 in May, a 2.7% drop from April and 7.6% lower than a year ago. However, experts warn that two consecutive drops do not necessarily indicate a trend, and used retail inventory is still below last year, which tends to keep buyers at the auction, supporting prices. The average age of US cars on the road hit a record 12.5 years this year, as more drivers balk at the cost of replacing their vehicles.
Originally Published 2 years ago — by CNBC
Wholesale used vehicle prices in the US fell by 2.7% from April to May, marking the second consecutive monthly decline and the index's lowest level since December. The decline in sales and wholesale prices signal the used vehicle market is weakening, according to Cox Automotive. Used retail sales are estimated to have been down 11% YoY in May, as many Americans are being priced out of the market and repairing their vehicles instead of replacing them. The decline in used car prices is a win for the Federal Reserve's battle to taper inflation by ratcheting up interest rates.
Originally Published 2 years ago — by Axios
The March US inflation report, to be released on Wednesday, will reveal whether the strong disinflation forces seen late last year reemerged last month. Used car prices have been rising in recent months, but that has not been reflected in the consumer price index, where used cars and truck prices have retreated for the past six months. Analysts anticipate that changed last month. One other sector to watch is shelter, where private sector measures of rent prices have steadily dropped. Overall inflation is expected to be 5.2% in the 12 months through March, down from the 6% the prior month.
Originally Published 2 years ago — by Barron's
The fluctuating prices of new and used Tesla vehicles have provided ample data for both bullish and bearish arguments about the electric-vehicle maker. The debate centers around whether price cuts indicate weakness or strength, and whether dropping used-car prices signal weakening demand or not. However, the data has been good for Tesla's stock.
Originally Published 2 years ago — by The Associated Press
Used car prices in the US are surging due to a shortage of supply and robust demand, with signs pointing to further increases ahead. The supply of used vehicles is failing to keep up with demand, as fewer trade-ins are landing on dealer lots and fewer used vehicles are coming off leases or being off-loaded by rental car companies. The average list prices for used cars have edged up by about $700 in the past month, and analysts expect prices to keep rising at least into summer. Buyers who can afford to do so should buy soon, as auto loan rates may continue rising this year.
Originally Published 2 years ago — by Yahoo Finance
Used-car prices are on the rise, with wholesale prices increasing in February and retail prices expected to follow suit in March and April. The increase in prices is due to a combination of factors, including a mild winter, lower inventory levels, and a possible rush to buy before interest rates rose again. Used cars make up a significant portion of the consumer price index and are a large reason why inflation has cooled, but the core rate, which excludes food and energy prices, has been accelerating again. The rise in used-car prices could have implications for inflation and the Federal Reserve's efforts to curb it.
Originally Published 2 years ago — by USA TODAY
Used-car prices are on the rise, with Manheim reporting a 4.3% increase in vehicle prices in February, the largest increase for that month since 2009. This is expected to trickle down to retail prices this month, potentially impacting inflation. While the consumer price index showed used-vehicle prices fell 2.8% in February from the prior month and 13.6% over the last 12, that data wouldn’t have captured the higher wholesale prices car dealers began to pay in February. The rise in used-car prices may be due to a generally mild winter, lower inventory levels of vehicles, a dip from peak pandemic prices, and possible efforts by shoppers to buy models before interest rates rose again.