Posts Tagged ‘Japan earthquake effects

02
Jun
11

Demand for used cars continues. . .Dealers urge consumers to trade-in now

The effects of the Japan earthquake and tsunami continue to be felt, especially in the automotive industry worldwide. Supply of used vehicles is getting so tight that dealers are now reaching out to customers and urging them to take advantage of great trade-in values on their used vehicle. Prices of used vehicles are now up almost 30% since last year says NADA analyst, so this is one of the best times in history to trade in a car or truck. Right now it truly seems to be a win-win situation; the dealers (need) get the inventory, and the customer get’s the most money for their car, so both parties win.

To read full article on NADAFrontPage.com and watch the TV interview program “AutoFocus”, please click here.

17
May
11

Auction prices up but retail demand not there yet

As more time passes we see more and more of the effects of the expected decline in new car inventories. At auctions, prices for used vehicles rise as more dealers attempt to prepare for a shortage of new vehicles in the market. The anticipated shortage is of course a result of the devastating earthquake and tsunami that hit Japan in March, that has had a major effect on vehicle production. So far, retail demand for all the used vehicles that have been purchased at the auctions, hasn’t caught up. The dealerships anticipate demand months out while consumers won’t see this as an issue for a few months to come. This combo may have used vehicle auction prices dropping and causing a used car bubble. Although there is fear and anticipation of a used-car bubble, wholesale used vehicle price continues to rise. For the month of June, NADA Used Car Guide raised its suggested price of small vehicles by about 10% from May prices.

To read full article on Automotive News, please click here.




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