Free Republic 1st Qtr 2024 Fundraising Target: $81,000 Receipts & Pledges to-date: $74,893
92%  
Woo hoo!! And we're now over 92%!! Thank you everyone!! God bless.

Keyword: usedcars

Brevity: Headers | « Text »
  • Wholesale used car prices drop by largest amount since pandemic began

    07/10/2023 11:09:18 AM PDT · by ChicagoConservative27 · 31 replies
    The Hill ^ | 07/10/2023 | LAUREN SFORZA
    Wholesale used car prices dropped by 4.2 percent from May to June, marking the largest monthly decrease since the start of the COVID-19 pandemic, according to the Manheim Used Vehicle Value Index (MUVVI). The index, which is a measurement of wholesale prices of used vehicles, also saw a drop of 10.3 percent from a year ago. “The 4.2 percent drop is among the largest declines in MUVVI history and the largest decline since the start of the pandemic in April 2020 when the index plunged 11.4 percent,” Chris Frey, senior manager of economic and industry insights for Cox Automotive, said...
  • Hackers break into Russian TV and tell everyone there’s been a nuclear attack

    03/09/2023 1:11:12 PM PST · by DUMBGRUNT · 13 replies
    Metro UK ^ | 9 Mar 2023 | Craig Munro
    People living in the east of Russia have once again been targeted in a television and radio hack, apparently suggesting they had been subject to a nuclear attack. It is the third time media stations in the country have broadcast hoax warnings in just over two weeks. Today’s message, however, included a chilling new detail – an instruction for those listening to ‘take potassium iodide pills’, which are typically used in radiation emergencies. ‘Seal the premises. Use gas masks of all types. In the absence of gas masks, use cotton-gauze bandages.’ Screens also flashed up with a black and yellow...
  • Used Car Prices Soar with Largest Spike in 14 Years

    02/18/2023 1:33:13 PM PST · by CFW · 107 replies
    Slay News ^ | 2/18/23 | Nick R. Hamilton
    Used car prices have soared, recording the largest February increase in 14 years, according to reports. The spike in prices comes as inflation continues to drive consumer prices. Wholesale used-vehicle prices increased 4.1 percent from January through the first half of this month, signifying the largest February increase since 2009’s full-month 4.4 percent gain, according to the mid-month Manheim Used Vehicle Value Index from Cox Automotive. This comes just a month after markets were hit with a massive rise in used car prices, according to the Manheim Used Vehicle Value Index. The used vehicle index rose to 234.0, down 7.3...
  • A Used-Car Dealer Raised Millions From ESG Investors. The Customer Complaints Continued.

    11/12/2022 5:00:45 AM PST · by karpov · 22 replies
    Barron's ^ | November 11, 2022 | Jacob Adelman
    Idaira Chavez is just the type of car buyer that BlackRock’s new social-impact fund might have had in mind when it bought a stake in Tricolor Auto Group. Tricolor gave Chavez, 21, a loan to buy a 2012 Kia Optima off one of its lots earlier this year. She needed the car to get to her job at a Dallas pet store after she moved to a nearby suburb. ... But Chavez says being a Tricolor customer hasn’t made her life any better: A few months after buying her car from the company in January, the vehicle stopped working and...
  • Used-Car Prices Collapse The Most Since the Lehman Meltdown: Buyers should expect deals to materialize in 2023.

    11/07/2022 10:23:10 PM PST · by SeekAndFind · 55 replies
    Talk Markets ^ | 11/07/2022 | Tyler Durden
    With soaring borrowing costs, the Federal Reserve has slammed the brakes on the once-booming used car market. The latest data on wholesale used-vehicle prices show October's decline on a year-over-year basis was the worst since the financial crisis over a decade ago. The Manheim Used Vehicle Value Index for October declined to 200, or about 10.6%, the worst decline since December 2008 when the global economy was melting down (and the 5th largest decline ever)... The Fed's rapid pace of rate hikes this year is slowing demand, as Edmunds data showed the average annual percentage rate on used-car loans was...
  • Beware a Flood of Flooded Cars

    10/01/2022 11:51:58 AM PDT · by moovova · 31 replies
    Consumer Reports ^ | 9/30/22 | Consumer Reports
    Thousands of cars are damaged or destroyed by floods every year, but don’t assume all those vehicles end up in a junkyard. Some are repaired and resold in other parts of the country without the buyer being aware of the car’s waterlogged history. In fact, Carfax says were 378,000 flooded cars were back on the roads in 2021, and Hurricane Ian is certain to see many more damaged cars added to the high-demand used-car market. (snip)
  • Used cars have become unaffordable

    09/29/2022 5:58:32 PM PDT · by MinorityRepublican · 60 replies
    CNN ^ | Thu September 29, 2022 | Chris Isidore
    High prices and rising interest rates are putting used cars out of reach for a growing number of car shoppers. That’s bad news for CarMax, the nation’s largest used car dealer. CarMax reported Thursday that its earnings plunged 54% as the number of cars it sold in the quarter fell 6.4% compared to a year ago. The company blamed “vehicle affordability challenges that stem from widespread inflationary pressures, as well as climbing interest rates and low consumer confidence.” Although higher prices lifted the company’s overall revenue, the results were well below forecasts from analysts surveyed by Refinitiv. That set off...
  • Used-Car Prices Are About to Crash… Here’s Why

    08/02/2022 9:47:18 PM PDT · by SeekAndFind · 112 replies
    Daily Trade Alert ^ | 08/02/2022 | C. Scott Garliss
    Prepare for an exploding supply of used automobiles… And like most economic disruptions these days, it’ll be thanks to the pandemic.COVID-19 brought about never-imagined lifestyle changes. Families that used to live in crowded apartments and concrete jungles made the move to suburban areas with yards and trees. And trains, subways, and shuttle buses were no longer reliable forms of transportation.Everyone needed cars.This change in demand (along with global supply-chain issues) made cars a precious commodity. Prices nearly doubled as a result.But recent indicators show the car market’s strength is starting to fade. And for the first time in years, prices...
  • Used Car Prices Are Crashing Near Record Pace

    05/07/2022 2:08:33 PM PDT · by blam · 50 replies
    Zubu Brothers ^ | 5-7-2022
    It’s been a challenging year for consumers. And with the highest inflation in four decades, some are paring back spending on big-ticket items, such as used automobiles. After jumping 90%, since the start of the virus pandemic, used car prices are cooling as buyers balk due to affordability issues stemming from soaring interest rates. Outside of the COVID shock and Great Financial Crisis of 2008/09, the Manheim Used Vehicle Value Index, a wholesale tracker of used car prices, printed the most significant monthly decline in terms of rate of change averaged out over three months in April at 6.4%. It...
  • Used Car Prices Fall As Goldman Points Out Supply Chain Alleviation

    03/22/2022 8:12:37 PM PDT · by blam · 19 replies
    U.S. companies has struggled with supply chain congestion, bottlenecks, and the inability to adequately re-stock certain items that roiled the automotive industry. As a result, new car production has been hindered as consumers panic bought used cars, sending prices sky-high. On Feb. 9, we outlined a major inflection point for the Manheim Used Vehicle Value Index, a wholesale tracker of used car prices, possibly topping as peak supply chain constraints had passed and more parts would be readily available for automakers to restart and or increase output for new vehicles. At the time, we said this could reverse used car...
  • Carvana's Algorithm Bought A 7-Year-Old Honda Fit For More Than It Was Worth New...The Verge dives into what is going on with exploding car prices

    02/11/2022 11:52:19 AM PST · by Red Badger · 57 replies
    https://jalopnik.com ^ | February 11, 2022 | By Erin Marquis
    Photo: Honda Both the new and used car market is a hot mess right now, and will be for sometime. Just how hot of a mess are we talking? Well, a writer for The Verge managed to sell his 2014 Honda Fit to Carvana sight-unseen for $20,905—$90.20 more than he paid for it brand new off a dealer lot. That’s a mighty caliente market. How could such an old car possibly be worth more today than when it had 23 miles and still smelled like plastic? How could a company that buys such cars at such high prices before even...
  • As Used Car Prices Hit Another Record High, Here’s What Goldman Thinks Happens Next

    12/23/2021 10:57:20 AM PST · by blam · 45 replies
    Nation And State ^ | 12-23-2021
    Another month, another record (see prior records: here & here). New data shows used car prices continued to soar in the first half of December, suggesting inflation has been anything but transitory. The Manheim Index, the most recognized wholesale used-vehicle price index by financial and economic analysts, reported that the wholesale used car index rose 3.1% in the first 15 days of December compared to November. The overall index has jumped a mindboggling 48.9% from December 2020.“On a year-over-year basis, all major market segments saw seasonally adjusted price gains through the first 15 days of December. Pickups had the smallest...
  • Bidenflation: New Cars and Trucks See Biggest Price Hikes Since 1975, Used Car Prices Up 31%

    12/10/2021 10:24:27 AM PST · by ChicagoConservative27 · 33 replies
    Breitbart ^ | 12/10/2021 | John Carney
    The cost of driving in America is accelerating–and not just because gas prices are up 60 percent from last year. The prices of new cars and trucks jumped a seasonally adjusted 1.4 percent in October and another 1.2 percent in November, data from the Department of Labor’s Consumer Price Index showed Friday. Compared with a year ago, prices are up 11.1 percent. That’s the fastest annual pace of inflation for vehicles since 1975.
  • Consumer prices rose by 6.8% in November over previous year, Labor Department ... The number marks highest annual inflation rate since June 1982

    12/10/2021 6:27:32 AM PST · by Red Badger · 94 replies
    https://justthenews.com ^ | By Just the News staff Updated: December 10, 2021 - 9:13am
    The Labor Department reported Friday the U.S. consumer price index rose 0.8% in November, compared to October. The increase marks a 6.8% increase over the previous year, the department also reported, marking the highest annual inflation rate since June 1982. Wall Street expected the month-to-month index to reflect a 0.7% gain for November, according to CNBC. Under the Biden administration, the CPI increased 0.9% in October, compared to the previous month. The index report from the department's Bureau of Labor Statistics gauges inflation by measuring the cost of dozens of items from such everyday goods as gasoline and food to...
  • Used Car Prices May Never Return To 2019 Levels, Says Cox Automotive

    12/09/2021 11:12:22 AM PST · by blam · 99 replies
    Nation And State ^ | 12-9-2021
    Those holding off on purchasing a used car, expecting prices to come back down, might be in for a surprise. A new Cox Automotive report said used car prices may never return to pre-pandemic levels. Philip Nothard, insight and strategy director at Cox Automotive, said used car prices show no signs in reversing as there is no “tsunami of used stock” on the horizon and warned secondary markets had lost around 1.4mln vehicles. He said prices might stabilize in mid-2022 as the market reverts to some normalization but said a new benchmark for used vehicle values has been established and...
  • SHOCK CONFESSION Josh Duggar admits he’s ‘not denying guilt’ & insists he used dark web to sell cars during child pornography trial

    12/03/2021 8:36:10 AM PST · by Morgana · 18 replies
    The US Sun ^ | December 1, 2021 | Teresa Roca
    JOSH Duggar made a startling "non-admission" when questioned about alleged child pornography on his work computer in 2019. In court on Wednesday, audio from an interview with Homeland Security agents conducted with Josh in 2019 was played. At the time, after being presented with evidence, Josh told arresting officers: "I’m not going to say anything that’s going to incriminate me. I’m not denying guilt. I’m not saying if I am guilty or not." In another audio recording played for the court, Josh was asked by an agent if he was aware of what peer-to-peer was, according to a Sun reporter...
  • Used Vehicle Prices Hyperinflate as Inflation Begins to Spiral out of Control All Over America

    11/09/2021 8:53:51 AM PST · by Red Badger · 84 replies
    https://ourgoldguy.com ^ | NOVEMBER 9, 2021 | by Michael Snyder
    It turns out that all of the “doom and gloomers” that were warning that we would eventually experience nightmarish inflation were right after all. In particular, vehicle prices have become exceedingly painful in recent months. Due to a crippling global shortage of computer chips, production of new vehicles is way down, and a lot of that demand has shifted into the used vehicle market. Over the past year, used vehicle prices have escalated at a pace that we have never seen before in our entire history, and things reached a crescendo during the month of October. If you can believe...
  • Report: Used Car Prices Record High, Inventory at Historic Low

    10/08/2021 10:03:44 AM PDT · by ChicagoConservative27 · 27 replies
    Breitbart ^ | 10/08/2021 | Jacob Bliss
    Reports show that wholesale used car prices climbed to an all-time high in September even though dealership inventories have historically low inventory given the high demand for second-hand cars in the supply chain. The Manheim U.S. Used Vehicle Value Index showed that the month-over-month in September increased by 5.3 percent in September, which is the highest rise since April. Over the last year, the index increased by 27.1 percent to 204.8.
  • “Team Transitory” Suffers Blow As Used Car Prices Resume Surge

    09/19/2021 9:47:40 AM PDT · by blam · 12 replies
    Zubu Brothers ^ | 9-19-2021
    In the past month, a feud has broken out between the so-called “team transitory”, comprising mostly of pro-Fed, pro-Biden commentators, who urge the public to ignore the “transitory” hyperinflation that by now is painfully obvious to everyone (see today’s UMich report for the gruesome details), and not to blame either the Fed or the administration for the collapse in the dollar’s purchasing power. Then there are the realists who see a much more ominous trend in deglobalization – you know, the same trend that allowed inflation to decline along with interest rates since the early 1980s – and warn that...
  • Forget New Or Used, Even Wrecked Car Prices Are Hitting Record Highs

    09/11/2021 4:29:24 PM PDT · by blam · 23 replies
    Zubu Brothers ^ | 9-11-2021
    Junked-car auctioneer Copart, Inc., or simply Copart, reported earnings this week and said given the stellar growth in new and used car prices this year, wrecked car prices are getting a lot more expensive. On Thursday, Copart’s CEO Jeffrey Liaw told investors on an earnings call that strong used car prices are a driving force behind “the record average selling prices” for wrecked cars. Copart specializes in auctioning wrecked cars that insurers have totaled. The vehicles go to auction and are frequently bought by companies who part out vehicles. Selling prices for wrecked cars surged 20.7% in the most recent...