Surging demand to replace vehicles damaged by Hurricane Florence will likely push up used car prices. Analysts at Black Book, which tracks used car prices and sales, say that people in areas flooded by the storm will need replacement cars quickly to be able to get back to work. In addition, dealerships must replace their damaged inventory. Hurricane Florence's next challenge: Dealing with insurers Florence gone but flooding remains a crisis in parts of North Carolina "There will be immediate demand for replacement," said Anil Goyal, executive vice president for operations at Black Book. He expects that spike in demand to push up prices in the eastern U.S. by up to one percent. That would amount to $200 for a $20,000 used car. Jonathan Smoke, chief economist with Kelley Blue Book, estimates that 20,000 to 40,000 vehicles will be total losses due to Florence. State Farm, one of the largest U.S. auto insurers, said that as of Wednesday it had received more than 1,600 … [Read more...] about Hurricane Florence impact to push up used car prices
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Business daily Kauppalehti reports that a record number of used cars will be imported to Finland this year. AUT, an automotive research group, estimates that 37,000 vehicles will be shipped to Finland this year, about 8,000 more than in 2017. The significant growth has been driven by the beneficial exchange rate between the euro and Swedish krona, AUT says. “About a half of the used cars imported this year come from Sweden,” says Hanna Kalenoja from AUT. “What’s more, there’s currently an oversupply of used cars in Sweden as the sales of new vehicles have risen considerably there over the past few years.” Swedes have been buying new cars in large numbers, with 380,000 new automobiles registered in the country last year, over three times more than Finland’s 119,000, Kauppalehti reports. Finns also have a similar taste in cars as their western neighbours, with brands such as Volvo, Volkswagen, Mercedes-Benz and BMW popular in both countries. … [Read more...] about Wednesday’s papers: Used cars from Sweden, Tango king’s court day and American päntsdrunk
LUXURY SUVs and pick-up trucks are the nation's favourite vehicles, as they both dominate the most in-demand used car list. The only sportscar that made the top 10 is the mid-placed Porsche 911, in a study put together by autos marketplace site CarGurus. The Ford Ranger topped the list, and was joined by fellow pick-up trucks the Toyota Hilux (6th), Nissan Navara (7th) and Mitsubishi L200 (10th). Unsurprisingly, though, the Range Rover led the SUV market, followed by the Audi Q7, Land Rover Discovery, Volvo XC90 and BMW X5. The list was compiled by analysing the number of online shoppers who searched for used cars that had over 1,000 units for sale since the start of 2018. A separate top 10 was made for the most desirable cars that only had under 100 second-hand models up for sale since the turn of the year. Here, the £78,000 Maserati Quattroporte came out on top with 422 user searches for every model available. Bentley's Arnage and Audi's RS4 Saloon rounded up the top three, … [Read more...] about Britain’s top 10 most desirable used cars unveiled – and a pick-up truck tops the list
China's huge bet on new-energy vehicles has understandably gotten the world's attention. But a less flashy phenomenon now underway may be at least as consequential for the environment in the near term: China is finally getting into used cars.A familiar ritual in most countries, buying vehicles secondhand had until recently been all but unknown in China. In most markets, sales of used cars outpace those of new ones by a wide margin, usually two-to-one or more. About 39 million used cars were sold in the U.S. last year, for instance, compared to 17 million new ones. In China, the opposite prevailed: 29 million new cars sold, and just 12 million used ones.That's thanks to some quirks in China's auto market. Until the late 2000s, poor-quality manufacturing limited the lifespan of Chinese-made cars, while prospective secondhand buyers had few ways to determine a vehicle's ownership and accident history. The industry was also highly fragmented, with a well-earned reputation for … [Read more...] about China’s Next Big Thing? Used Cars.
Popular on social media Superband Maru attracts top Ukrainian musicians 141 Honest History: Heat from Hungary. How Transcarpathia’s Hungarian past set up … 73 Stress, neglect take deadly toll on Donbas veterans 58 The primary registration of used cars in Ukraine in January-April of this year increased by 85 percent compared to the same period in 2017, to 25,200, the Ukrautoprom association has reported. At the same time, in April 6,500 used cars were registered for the first time, which is 44 percent more than in April 2017, while new car registration rose by 5 percent, to 6,800 cars, As reported, in March of this year the amount of used auto imports under the registration grew by 87 percent from March 2017, to 7,400. The active replenishment of the national fleet of used foreign cars is promoted by the effect of lower excise taxes on imports of such cars, under which cars under the age of 8 years fall this year. The largest amount of imported used cars was … [Read more...] about Primary registration of used cars 85 percent up in four months of 2018