Kelley Blue Book Used Cars For Sale By Dealer – Dealers expressed concern over the possibility of a market weakness next year, according to the Cox Automotive Dealer Sentiment Index for the fourth quarter. This is the first negative result in the survey, which began three months more than a year ago.
“We have reached the point where dealers clearly communicate to us that it will be very difficult for their business to continue to be profitable and grow,” said Chief Economist of Automotive Cox Jonathan Smoke told Automotive News. “You see the underlying metrics that we track and the data, and that is related to inventory, it relates to access to credit for consumers, this is related to interest rates both for consumers and for themselves.”
Kelley Blue Book Used Cars For Sale By Dealer
Dealers believe the market will soften, interest rates will rise and that they will face tighter competition from their competitors. Smoke was also surprised by how quickly sentiment shifted from optimism to pessimism for the coming year. While dealers are optimistic at the start of the year for the market due to changes in tax policies that have led to bigger returns, they are now worried about the possible impact of rates on the market.
The poll, conducted in late October and early November, had responses from 1,124 dealers, 610 franchises and 514 independent. Franchise dealers remain optimistic overall, with 51 percent expressing optimism, but it fell from 59 percent at the start of the year. Only 44 percent of all dealers rated the market as profitable, down from 51 percent.
“We knew we were in trouble when optimism came out of the positive category,” Smoke said. “We are returning to an environment where dealers describe the current market as weak rather than strong.”
While dealers are concerned about the health of the new car market, the survey shows that most dealers have a positive view of the used vehicle market. Optimism scored 57 percent, down from the previous 60 quarters, but still higher than the view of new vehicle sales.
The price of Chevrolet employees is offered
Chevrolet sweetens holiday sales events with “Employee Discounts for Everyone” on all remaining 2018 models and 2019 Chevrolet Equinox, Traverse, Colorado and Silverado 1500 Limited models. The program was run last year around the same time and company officials said they were very happy with the results, they brought it back to help increase the year-end sales figures. This promotion lasts until January 2.
Among the discounts mentioned on the Chevrolet website is 2018 Tahoe Premiere with $ 7,402 in employee price savings plus $ 3,750 in cash allowing for a total discount of $ 12,500 when financed through GM. Equinox 2019 is offered with an employee discount of $ 3,264 plus $ 2,750 cash back at a price of around $ 6,000 under the MSRP. Traverse qualifies for discounts of around $ 4,400, while on the car side, offers range from $ 4,000 to Spark to more than $ 8,000 at Impala.
This month’s offer
When the industry closes this year, there are some interesting transactions that can make a happy holiday when it comes to parking a new vehicle in your driveway. Among these offers are five rents at a price of less than $ 200 and a substantial discount of $ 5,000.
First rent. Acura offers 2018 ILX luxury sedans for $ 199 per month for three years with $ 2,499 due in advance. Kelley Blue Book estimates the fair purchase price of this sedan at $ 24,224 on an MSRP of $ 29,055. Hyundai has a Tucson 2018 with a 3-year contract at a price of less than $ 1,399 at the same price of $ 199 per month. With $ 20 less per month for 36 months, the Honda Civic 2018 requires $ 2,199 for the payment of $ 179 per month. Hyundai Veloster 2019 is slightly more at $ 189 per month for three years with $ 2,299 down. The last under $ 200 per month rental comes from Kia in its Soul 2018. Monthly payments are $ 189 on a 36 month contract with $ 2,652 down. If you are in the market for a compact crossover SUV, you have used Mazda with 2018 CX-5 at $ 215 per month for a 3-year lease with $ 2,489 in cash.
Learn more about leasing
Among the discounted prices offered, Ford provides $ 5,000 cash back on the Ford Fusion 2018 sedan and 2018 Explorer SUV. Chrysler has $ 4,000 in cash at Pacifica 2018, which KBB estimates a fair purchase price of $ 28,394 at $ 30,890 MSRP. In the sister Jeep division, the Jeep Grand Cherokee 2018 carries a rebate that is slightly richer at $ 4,250. All offers expire January 2.
Bonus Content: Does it pay for shopping at the end of the month?
Subprime loans fell
Concerns about risky subprime loans began to ease amid news that contracts held by consumers with low credit value had reached the lowest overall market share in 11 years, according to a finding by Experian.
In the last state of the Automotive Financial Market, credit and analytics specialists said subprime car loans accounted for 21.19 percent of total loans, down 1.5 percent from a year ago. These borrowers usually have a credit score of between 501 and 600, while subprime in is a score of between 300 and 500. The reason why the share of subprime declines is due to the greater increase in loan activity among the main borrowers, or those who have good credit. risk. And many of these buyers also encourage increased financing for used vehicles.
Experian also reported that the average monthly payment for new and used vehicles had reached a record high. The average monthly payment for a new vehicle is now $ 530, while the vehicle used averages $ 381. And the $ 149 gap between the two has widened $ 13 per month over the past year.
Porsche has refreshed the compact performance SUV with an updated look and other tweaks. We are behind the wheel of the 2019 Tiger Porsche at this First Review.
Volkswagen is preparing a facelift for the midsize family sedan in the 2020 VW Passat. The German car maker will take wraps off at the North American International Auto Show.
Ford is touting that the latest 2019 Ford Ranger pickup meets the competition when it comes to the fuel economy of gasoline engines in the medium truck segment. Get details about the new Ranger fuel economy.
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