Posts Tagged ‘Kelley Blue Book

06
Dec
11

According to KBB, Used- Vehicles Prices Going Up in 2012

According to Kelley Blue Book, they are telling customers that if they plan or need to buy a used car soon to do it before the end of the year. KBB is expecting used car prices to rise 4-6% at the start of the coming year, so it looks like the best time to buy would be now. Overall the car market has really cooled down, especially since new car inventories are getting back to normal levels. KBB says we will see an expected decline in the 4th quarter but projections show values going back up in 1st quarter of 2012.

The end of this year has seen 5 consecutive months where used-vehicle prices have dropped with October values dropping 2.6% overall. Since June of this year prices have dropped 10% and fuel-efficient vehicles have seen an even bigger drop of 20%, but this decline won’t carry over into 2012.

To read more in F&I Magazine, please click here.

16
Nov
11

KBB Updates

Kelley Blue Book has made some pretty important additions and changes. They have announced that they will now provide values for 51 regions and update values weekly for all of KBB’s used-car values. The values that they are updating weekly include lending, auction, trade-in, private party, certified pre-owned and suggested retail. Kelley Blue Book is also adding a new category to describe the vehicle condition. They are including,”Very Good”, as a category to give a better description of used-cars on the market. As would be expected the new condition category, “Very Good”, will be in between the current categories of “Good” and “Excellent”. According to the director of vehicle valuation, “Only 3 percent of today’s vehicles are actually in ‘Excellent’ condition.” With this new condition category it should allow for a better description for both the dealer and consumers of what a vehicles actual condition is.

To read the full article in F&I Magazine, please click here.

11
Oct
11

Facebook Drives Traffic to Automaker Websites

So how important is Facebook in the car buying decision process? According to a J.D Power and Associates and Compete Inc.’s 2011 Website Performance Tools Report Facebook refers just as many new buyers to automaker websites as do sites like AutoTrader.com, Cars.com. 6% of new buyers visited Facebook right before going to automaker sites, which is right up there with sites like Edmunds.com that are at 8%.

Also, among new car buyers, the sites visited most often before a purchase was made were: KBB.com (7%), Edmunds.com (7%), Fordvehicles.com (3%) and Toyota.com (3%).

To read full article in F&I Magazine, please click here.

23
Sep
11

Fourth Quarter Looks Promising

Good news, Kelley Blue Book predicts that the industry will see a strong fourth quarter. According to Kelley Blue Book analysts 62% of new and used car shoppers will be ready to buy in this last quarter of 2011. This coupled with incentive battles that they predict, should make for a good finish to the year. These prediction are based on a few key factors: fourth quarter is typically when dealers roll out big sales events, production will be back at 100% capacity since the March earthquake & tsunami and carmakers will have cash incentives on lease offerings to try to make up for the first part of 2011.

Since the March 11 earthquake many car manufacturers have been below normal sales levels for this time of year. In this fourth quarter many of the Japanese brands will finally be at full production and Kelley Blue Book anticipates that these manufacturers will attempt to recapture lost market share therefor offering stronger incentives to move cars.

To read entire article in F & I Magazine, please click here.

10
Aug
11

What’s Affecting Used Car Supply & Values. . .

According to Kelley Blue Book the increase in used car prices will not only continue to rise but inventories will get even tighter. Kelley Blue Book sees auctions as a vital predictor of what’s to come in the used car market. They are where supply and demand meet for used vehicle market and what they’re seeing in auctions is less used vehicles to choose from and higher wholesale prices.  The reason for that is due to the 2008 slow down in new car sales which is now resulting in shortage of used car inventory. If companies and dealers are able to look at auctions as indicators of what is to come, they can plan on how to prepare and also how to take advantage of the current used vehicle market and their inventories. The effects of the 2008 new car sales slowdown which caused wholesale used car prices to go up is expected to continue to drive these prices higher since inventory will get even tighter.

To read the full article in Auto Remarketing, please click here.

30
Jun
11

KBB Joins National Member Benefit Program

Kelley Blue Book is now part of the roster of reliable companies for National Independent Automotive Dealers Association’s National Member Benefit Program. As part of this Program Kelley Blue Book will be listed to NIADA members as a reliable company offering products and services. This listing will help NIADA members to be aware and updated of the many solutions that Kelley Blue Book provides for the new and used vehicle industry and make it easy for Kelley Blue Book to keep NIADA members updated.

To read more on this in F&I Magazine, please click here.




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