CarGurus’ Post

Some of my favorite insights from our Mid-Year Review were: 2️⃣ 0️⃣ 2️⃣ 3️⃣ With new car inventory at four-year highs and 2025 models coming onto dealer lots, remaining 2023 models offer a chance for shoppers to buy new at a bargain. CarGurus data shows nearly 6% of new car listings in the U.S. are 2023 models. 🚗 The hunt for affordability is translating to an uptick in demand for new compact sedans, which have an average listing price of $29,600. Year to date, sales demand for the body style is up 17% year-over-year, with the Toyota Corolla, Honda Civic, and Nissan Sentra leading in sales by as much as 54% year-over-year. 💰 When examining the states with the highest concentration of high-quality, affordable used car listings, New York, Florida, and Maryland top the list. Nationwide, the share of listings for 2017 model year or newer vehicles that are priced $25,000 or under with less than 75,000 miles is approximately 21%. In New York, that share jumps to 27%. You can find a link to the full report below!

Good news for those in the market for a used vehicle: The average lightly used car — one that is about two years old — costs 12.8% or $5,778 less than its new-car equivalent, according to the latest automotive data. The data is based on iSeeCars’ analysis of more than 1.6 million new and lightly used cars on sale from January through March 2024.

🌟 These Cars Will Be Gone After 2023! 🚗💨 📍Chevrolet Bolt EV/EUV • Surprising discontinuation despite better sales • Potential rise from the ashes with a new Bolt in the works • Starting MSRP: $27,495 for Bolt EV; $28,795 for Bolt EUV 📍Mazda CX-9 • Fun driving dynamics and premium-looking interior • Making way for the redesigned CX-90 • Starting MSRP: $40,125 📍Dodge Charger and Challenger • Popular models being phased out for an all-electric future • Special "Final Call" models for collectors • Starting MSRP (V8 models): $42,400 for Challenger; $45,565 for Charger 📍Mercedes-Benz C-Class and E-Class Coupes and Convertibles • Open-air experience and stylish looks are coming to an end. • All-new CLE to replace all four models • Starting MSRP: $50,700 for C-Class coupe; $58,400 for C-Class convertible; $70,900 for E-Class coupe; $78,050 for E-Class convertible 📍Audi R8 • Audi's halo car with incredible acceleration Discontinued due to the push for electric vehicles • Starting MSRP: $160,095 Don't miss your chance to own one of these soon-to-be classics! Act quickly and grab a great deal. #Cars2023 #DiscontinuedModels #ElectricFuture Source: https://lnkd.in/ecDGXr2j

America's 25 Top-Selling Cars, Trucks, and SUVs of 2023- America's auto industry bounces back! See which sedans, trucks and SUVs topped the 2023 sales charts as car buyers flocked back to dealer lots. Full analysis of the 25 best-selling vehicles and what it says about changing consumer tastes. - READ FULL STORY HERE -- https://lnkd.in/dKhsBn9U

20 new cars priced the highest over MSRP and 15 priced below MSRP: … luxury cars still command a premium While the average new car is … $43,163 7 Chrysler Pacifica Plug-In Hybrid -2.0% $53,263 $54, … much easier for EV, large truck and SUV shoppers,” said Brauer. “ … high cost of full-size trucks and SUVs, along with the … #car #cars #awesome

Segment Sales First Half 2024 - Small SUVs (Sadly) Dominate Market Growth Despite the software breach that impacted some dealerships at the tail end of June, second quarter new light vehicle sales came in at an estimated 6.3% ahead of 2023 with the first half overall seeing an estimated increase of 10.4%. At the segment level, Canada is increasingly a “small SUV” market - a dynamic clearly seen in first half 2024 segment performances. Subcompact SUVs continued to greatly outperform the market, rising 47.6% over the first half of 2023 with significant volume added by a number of models including the Hyundai Kona and Chevrolet Trax. Following behind, compact SUVs also grew a remarkable 22.3% taking that market leading segment to over 275 thousand units through the first 6 months of 2024. On the other end of the spectrum, large SUVs alongside luxury and compact luxury cars noted decreases of 20.8%, 28.6%, and 31.4% respectively. Light trucks overall saw sales increase 12.2% for the first half to take their share of the market to 86.1%. “The 3 segments that comprise the small SUV market together jumped more than 5 percentage points to 46.2% of total sales” commented Andrew King, Managing Partner at DAC. He continued, “It is the Canadian consumer who drives the market and they are increasingly demanding small SUVs as their vehicle of choice. While here at DAC we may pine for the perfect combination of practicality and performance represented by the Volvo 1800ES, the Mitsubishi Evo Wagon, or the DB5 Shooting Brake, (sadly) the consumer has taken the market in an alternate direction.” #automotive #carsales #autoindustry #radio

10 Cars that were more popular in Canada than in the U.S.: … the two respective automotive markets — most car manufacturers’ lineups differ … 's best-selling cars, trucks, SUVs, and brands in … Although the recently reborn hybrid-only Venza is generating … -Spot Monitor All things automotive: breaking news, reviews … #car #cars #awesome

The automotive market has undergone significant shifts in recent years, leaving many car buyers grappling with the decision between new and used vehicles. #automotive #vehicles #cars #textileindustry #TextileUpdates #textiles #industries Read More: https://lnkd.in/gh9Fujmx

Vehicle prices have been on the decline most of 2023. Will this trend continue into 2024? According to the experts, the vehicle price reduction depends on what type of vehicle you want to purchase: EV's, SUV, Truck, Hybrid etc. For more details if the vehicle you may want to purchase will decline in price, read on! #CarBuying #PriceReduction #AutomotiveIndustry #Motorlease #WhateverItTakes

LOOKING FOR A CAR FOR YOUR TEEN? Part 2 (Continued) 2017-2019 Volkswagen Passat Look for a 2018 or 2019 model with the 2.0-liter turbocharged four-cylinder engine and six-speed automatic transmission. Older versions of the engine, had problems that were addressed in the third generation of the engine found in these Passat models. 2014-2019 Mazda The Mazda6 is one of the most fun-to-drive vehicles in its segment. A pretty nice Mazda6 may fall into the under-$20,000 budget of this list. 2018 Kia Niro The Kia Niro is available in hybrid, plug-in hybrid, and pure electric forms. The hybrid, which can run around 253 miles on a fully charged battery before its gasoline engine switches on. 2015+ Honda CR-V The Honda CR-V strikes a balances between roominess and exterior dimensions, sportiness and efficiency. It's also quite reliable. Really, if you find a well-priced and well-equipped CR-V in your area, it's a no-brainer. 2016+ Toyota Tacoma The Tacoma has long been a midsize pickup truck sales leader. A used Tacoma for less than $20,000, might have higher miles than you prefer, the base or SR5 trims might be all you find at your budget. The interior dimensions are awkward for some drivers, with cramped headroom and a legs-forward seating arrangement.