Report: Wholesale Used Car Prices Are Coming Down, Don't Get Too Excited

If you’ve started hoarding auto parts in the event that future car prices fail to stabilize, leaving you indefinitely maintaining whatever heap is currently in your garage, there’s some good news incoming. Used vehicle prices have begun to fall, even if they’ve not yet reached the kind of valuations we might actually consider reasonable.

Read more
The Great Used Car Buyup of 2021

With automakers having a difficult time keeping production schedules thanks to COVID restrictions nuking demand and upending supply chains, 2021 arrived with plenty of problems. Desperate to replenish fleets they had sold off while everyone was locked indoors, rental agencies went on a used car buying spree. But it wasn’t just rental fleets that needed to be restocked, dealerships are also finding themselves with fewer models on the lot than they’re accustomed to — which is a bad position to be in when surveys have revealed consumers are now willing to pay stupidly high prices for automobiles.

They’re reportedly going to great lengths to acquire used cars as the great buyup of 2021 continues.

Read more
Used Car Prices Have Increased 30 Percent

We’ve been covering the staggering increase of automobile pricing all year, starting with the second-hand surge created by rental industries sucking up used models to replace all the vehicles they dumped during the pandemic. A year of suppressed demand and prolonged restrictions absolutely crippled supply chains and placed the automotive sector in an extremely difficult position going into 2021. We wish we could say things were improving but the most heartening news we’ve come across was the possibility that select manufacturers might soon have a line on semiconductor chips — hopefully encouraging new vehicle production.

But the used market is still heading into uncharted waters. According to data collected by CarGurus, the typical price for a used automobile increased by about 30 percent against this time last year. Though more worrying is how much of that spike is consolidated within the last 90 days.

Read more
Now Might Be a Good Time to Sell Your Car

After coronavirus lockdowns wiped out vehicle production for a few months, dealer inventories are going to have to wait a little longer than normal to be resupplied with new product. Meanwhile, the used market has become awash with cars offloaded by rental agencies with no use for them — except as a way to drum up cash during a difficult time.

Chuck in every American citizen getting free money from the government and you’ve got yourself the perfect storm. Average folks are thinking about using that money on a new car and dealers need to offset depleted inventories and delayed deliveries by scooping up used ones for the purpose of flipping. That’s driven up prices, which could potentially work in your favor if you happen to have an automobile you no longer have much use for.

Read more
Kelley Blue Book's 'Best Resale Value' Awards Goes Carless for 2019

Until subscription services irreparably modify what constitutes “owning” a car, resale value will continue being an important consideration when shopping for a new vehicle. Every dollar you can squeeze out of your vehicle down the road is one you don’t have to hand over at the dealership.

Every year, Kelly Blue Book compiles a list of models occupying the top spots of the resale value charts, and, every year, we’ve watched as passenger cars are gradually replaced by pickups, crossovers, and SUVs. Last year, the Subaru WRX was the only sedan to break into the top 10. However, this year’s KBB list is entirely devoid of cars.

Read more
Is Carvana's Ex-Con Co-Founder to Blame for Its Fading IPO?

Carvana, the company we previously razzed for its innocuous multistory automotive contrivances, has suddenly found itself facing some legitimate problems. The car dealer is now famous for two things: vehicular vending machines and a majority shareholder with criminal ties to a major savings and loan scandal — who also happens to be the father of the business’ CEO and co-founder.

The organization is also facing a share price that has dipped 40 percent since its April 27 IPO. However, that can likely be blamed on an over-saturated used car market. Secondhand cars are incredibly affordable at the moment so, if you wanted to support Carvana or any other used vehicle vendor, now would be a good time. You just have to be alright with doing business with Ernie Garcia II, the ex-con investors are likely going to blame if the share price doesn’t bounce back.

Read more
Flip This Porsche: Automaker Hopes to Stop Future Speculators

The secondhand market for sporting automobiles is a bubbling cauldron of volatility with one assurance — rarer is always better. Being racy doesn’t hurt resale value, either. That’s why track-focused manual transmission Ferraris go for an exorbitant premium on the secondhand market against their more casual counterparts. It’s also why certain the versions of the 911 can be resold at over double their original MSRP. But Porsche, like many high-end performance manufacturers, is getting sick of customers purchasing their vehicles for the sole purpose of flipping them.

The German automaker says it’s extremely aware of what is going on in the secondhand market and actively wants to take steps to crack down on for-profit flipping. It has also, perhaps inadvertently, made some headway already by bringing the 2018 911 GT3 to market with a manual transmission — potentially devaluing the manual-only 911 R. This has annoyed some capitalists hoping to resell the R at triple its original value. To that Andreas Preuninger, head of Porsche’s GT division, says “we’re not a hedge fund.”

Read more
  • JMII I doubt Hyundai would spend the development costs without having some idea of a target buyer.As an occasional track rat myself I can't imagine such a buyer exists. Nearly $70k nets you a really good track toy especially on the used market. This seems like a bunch of gimmicks applied to a decent hot hatch EV that isn't going to impression anyone given its badge. Normally I'd cheer such a thing but it seems silly. Its almost like they made this just for fun. That is awesome and I appreciate it but given the small niche I gotta think the development time, money and effort should have been focused elsewhere. Something more mainstream? Or is this Hyundai's attempt at some kind of halo sports car?Also seems Hyundai never reviles sales targets so its hard to judge successful products in their line up. I wonder how brutal depreciation will be on these things. In two years at $40k this would a total hoot.So no active dampers on this model?
  • Analoggrotto Colorado baby!
  • Rob Woytuck Weight is also a factor for ferries which for instance in British Columbia, Canada are part of the highway system.
  • Ajla I guess some people were big fans of Milli Vanilli and Real Dolls (don't Google that at work) but I have a very large problem with the fake engine sounds and fake transmissions. If you turn them off does it stay off forever or does it turn back on whenever you go into sport mode?
  • Probert That X frame was a killer. No nostalgia for these things to be honest. Yup - life of the party....