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The Average Price of A Used Car Has Reached A New High
William Maley posted an article in Automotive Industry
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 car prices to go up; better economic outlook, low unemployment, low-interest rates, and low gas prices. But also helping the increase is the amount of off-lease vehicles entering into the used car marketplace. "With inventory finally at a better place, people have a lot more options," Caldwell said. Source: Chicago Tribune via The Detroit News -
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 car prices to go up; better economic outlook, low unemployment, low-interest rates, and low gas prices. But also helping the increase is the amount of off-lease vehicles entering into the used car marketplace. "With inventory finally at a better place, people have a lot more options," Caldwell said. Source: Chicago Tribune via The Detroit News View full article
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The Environmental Protection Agency released their annual report on industrywide fuel economy this week and says that 2013 model year vehicles achieved an average of 24.1 miles per gallon — up 0.5 mpg from the previous year and almost 5 mpg since 2004. "We are thrilled to see that manufacturers continue to innovate and are bringing technologies to improve fuel economy online even faster than anticipated," said EPA Administrator Gina McCarthy. Mazda was the top automaker in the report with a fleet average of 28.1 MPG, while Nissan was the leader in the full-line automakers with 26.8 MPG. The Detroit automakers made up the bottom with Ford at 22.2 MPG, GM at 22.0 MPG, and Fiat Chrysler at 20.2 MPG. The EPA also notes in its report more fuel saving technologies are beginning to appear on vehicles. For example, the report notes that five percent of vehicles that aren't hybrids. This up from none back in 2009. Source: EPA William Maley is a staff writer for Cheers & Gears. He can be reached [email protected] or you can follow him on twitter at @realmudmonster. View full article
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The Environmental Protection Agency released their annual report on industrywide fuel economy this week and says that 2013 model year vehicles achieved an average of 24.1 miles per gallon — up 0.5 mpg from the previous year and almost 5 mpg since 2004. "We are thrilled to see that manufacturers continue to innovate and are bringing technologies to improve fuel economy online even faster than anticipated," said EPA Administrator Gina McCarthy. Mazda was the top automaker in the report with a fleet average of 28.1 MPG, while Nissan was the leader in the full-line automakers with 26.8 MPG. The Detroit automakers made up the bottom with Ford at 22.2 MPG, GM at 22.0 MPG, and Fiat Chrysler at 20.2 MPG. The EPA also notes in its report more fuel saving technologies are beginning to appear on vehicles. For example, the report notes that five percent of vehicles that aren't hybrids. This up from none back in 2009. Source: EPA William Maley is a staff writer for Cheers & Gears. He can be reached [email protected] or you can follow him on twitter at @realmudmonster.
