Month: March 2023

|In: About Automotive|Last Updated:
Used-Car Sales Expectations in 2023

If you are looking for information about what used-car sales are expected to be like in 2023, there are several key factors to consider. One is that interest rates are going to be quite high, especially when compared to new cars. This will mean that the prices of both new and used cars are going to decline, though only slightly. The other key factor is that demand for luxury pre-owned cars is expected to drive growth in this market segment.

Prices will decline by 2.5% to 5% for new cars

In 2023, car prices are predicted to fall by 2.5% to 5%, according to the latest J.P. Morgan research. This is a significant drop and will mean more revenue opportunities for auto service departments and parts departments. Despite this, some experts are skeptical.

Car dealers will still have to face higher input costs, and fewer new models will be available …

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|In: Car Automotive|Last Updated:
Used Cars Market Trends 2023

The used cars market has changed a lot in the last few years, and it is predicted that the trend will continue in 2023. Some of the factors that will contribute to this are the supply chain constraints, the rising interest rates, the cost of living crisis, and the trade-in values. If you are in the business of selling used vehicles, you should keep in mind these trends.

Cost-of-living crisis

The global automotive industry is coping with a cost-of-living crisis that has been affecting used car prices. It is difficult to pinpoint a specific trigger for this but high inflation is at least a factor.

Last year, the price of used cars rose by more than five percent. However, analysts have predicted a slowdown in prices over the next few years.

A recent study by Autovista Group found that the market is reaching a turning point. This trend is likely …

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