Shoppers browsing the used car market right now might be pleasantly surprised by what they find, according to the latest Used Vehicle Report released by the car shopping experts at Edmunds. According to Edmunds analysts, a deluge of lightly used, lower-mileage vehicles are coming off lease and filling used car lots. Edmunds experts also note that these used vehicles reflect the body styles that shoppers want, namely trucks and SUVs, and carry far more standard features than they did five years ago.
Tag: SUV shoppers
After spending 20 of the last 27 years as the best-selling vehicle segment in the U.S., midsize sedans have taken a dramatic downward turn in popularity. Midsize sedans were the top-selling vehicle segment as recently as 2014, but so far in 2017 have tumbled to fifth behind compact SUVs, large trucks, midsize SUVs and compact cars. Market share for midsize sedans is now a meager 10.7 percent — the segment’s lowest share since Edmunds began its tracking in 1991.
Consumer Reports spotlights the top most fuel-efficient SUVs based on the overall fuel economy test results, omitting electric vehicles. “Many SUVs now have fuel economy on par with large sedans,” Jeff Bartlett writes. “Not surprisingly, there are hybrids and diesel SUVs leading several key categories, but as you’ll see, the most fuel-efficient SUVs are hybrids and small models with regular gasoline engines.”
Millennial vehicle-buying preferences may drive some big shifts in the automotive industry, according to a study from Autolist.com. The Autolist.com study, What Drives Millennials, is based on 3,383 vehicle owners nationwide. It shows that Millennials care more about buying a new vehicle (+6.2% vs Gen X). Millennials also care less about price (-5.5% vs Gen X).
“Italy’s Maserati is the latest automaker to create an upscale SUV, but is such a vehicle viable for brands in the luxury tier?” Forrest Cardamenis asked. “The Maserati Levante is the brand’s first SUV and follows the release of Bentley’s Bentayga. Consumer desire for SUVs is growing and other brands have models in production, but the segment can present problems with positioning and image.”
“To aid busy parents in choosing the next ride for their busy brood, the Consumer Reports automotive engineers have analyzed test data and considered the elements that would make for an ideal family SUV. To earn such a distinction, a vehicle has to perform well in Consumer Reports’ road tests, have average or better predicted reliability, and perform at least adequately (if included) in government or insurance-industry safety tests.”
Premium car and utility vehicle demand pushed automakers’ revenues to a record $52 billion in May 2015. New light vehicle ATP is up 4% from a year-ago’s level. TrueCar, Inc. finds that MayÛªs average transaction price for new vehicles was likely a record high for the month
“One clear message from April U.S. automotive sales numbers: cars that aren’t cars are moving off lots a lot faster than cars that are,” Marketing:Automotive reports. “Back in the 1990s, SUVs were actually trucks with a different hat: they were a 2-box setup on a pickup-truck ladder frame.
NADA Used Car Guide presented a forecast of the used-vehicle market in the U.S., noting the used-vehicle supply is swelling and should reach pre-recession levels by 2017. The used-car market has enjoyed high demand and short supply after the recession causing used-car prices to reach all-time highs.
December’s strong automotive sales numbers reflect the fact that gas prices dipped in the 4th quarter, as the month was driven by an appetite for crossovers, SUVs and pickups. The influence of gasoline pricing on auto sales might even outweigh the fuel-efficiency technology SUVs/crossovers and cars have now. But could these perceived savings in gas
Automakers are building third-row seats into more models these days. J.D. Power, in its 2014 Seat Quality and Satisfaction StudySM, notes that more mass market trucks and vans, along with compact SUV/MPV vehicles are equipped with third-row seats. However, in meeting this demand, automakers are not always winning high marks from consumers.