All Posts by Camila Barnes

|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 to sell. However, many buyers will benefit from the drop in price. According to Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions, “pent-up demand is real.”

The supply chain for the auto industry was hit hard by the global pandemic. Prices for new vehicles spiked, putting pressure on used cars. Disruptions to the supply chain created a supply shortage, which led to price increases for new cars.

This prompted the auto industry to consider ways to limit production. As a result, the used-vehicle wholesale price index has dropped 15% in the last two months.

Fortunately, these disruptions are expected to ease in the future. While the supply chain will continue to be shaky, the chip shortage will eventually resolve.

In 2023, new car sales should decline, while used car prices are projected to decrease even further. Traditionally, cheaper options have increased as consumers demand affordable vehicles.

Demand

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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 to continue into the future, according to the firm.

An average three-year-old vehicle’s %RV fell a whopping 2.6 percent month-on- month in December. Meanwhile, the Manheim Used Vehicle Value Index hit 236.3 in January 2022.

While prices for vehicles continue to fall, they are still well below the historical average. Analysts have warned that used vehicle prices could tumble 20%-30% in the coming two years.

One way to gauge how used car prices will evolve is to look at the trend in new car sales. While there has been a significant drop in sales in the first half of 2022, there has also been a rise in registrations.

Supply-chain constraints

The global automotive supply chain is undergoing significant disruption. These challenges include labor shortages, shifting demand, and structural issues. Some companies are facing significant financial losses due to these constraints.

Automotive OEMs can rely on third-party logistics providers to help …

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|In: About Automotive|Last Updated:
Auto Sales Forecast 2023

If you’re planning on buying a car in the next couple of years, you might be interested in what the auto sales forecast says. Fortunately, you can easily find out. Here’s a quick overview of some of the major car manufacturers, including Ford, Toyota, and Honda. Also, you’ll find out how the sales numbers for these vehicles compare with the rest of the market.

General Motors

The General Motors auto sales forecast for 2023 shows continued growth as GM regains the top sales position from Toyota. This is the first time GM has held the number one spot since 1931.

Sales rose in the fourth quarter as production rebounded. GM’s sales were boosted by pickups and SUVs. But the overall market was hampered by a supply shortage.

In the fourth quarter, GM delivered 623,261 vehicles. That was 41 percent more than the third quarter. Overall, GM sold 2.27 million vehicles in the U.S. Last year, GM reclaimed the title from Toyota.

A full-blown recession would have a profound impact on auto sales. During a recession, lower-income borrowers tend to leave the new vehicle segment. However, during the recent recovery, demand for new cars has remained strong.

Honda

The American Honda Automobile Corporation provided an outlook on the U.S. automobile business for 2023. In the third quarter, the company expects a healthy increase in sales.

American Honda will expand its mobility products, including EVs, in order to move toward an electrified future. Additionally, the company will establish a digital services business unit.

Honda has a full line of vehicles, including the Accord, Civic, HR-V, Ridgeline pickup, and Odyssey minivan. It also offers electrified vehicles, such as the Pilot, CR-V, and Civic hybrid.

However, the auto industry is now in a new era, and the supply and demand of cars and trucks …

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|In: Car Automotive|Last Updated:
New and Used Car Price Trends 2023

Whether you are in the market for a new or used car, you will want to keep an eye on the price trends over the next few years. There are several key factors that will play a role in how your car will be priced. Among these are the wholesale price of vehicles and inflation. By the time the 2023 model year rolls around, expect to see prices drop between 2.5% to 5% for new cars, and between 10% to 20% for used vehicles.

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

If you’re a car shopper, you’ve probably heard of the rumored price drop for new cars in 2023. There are several factors that can affect car prices, but if you’re lucky, you might be able to find a good deal as early as 2022.

However, experts cannot predict the exact date when prices will go down. For one thing, the supply of new cars will be limited due to ongoing supply chain interruptions. Another factor is higher raw material costs. These prices have led to higher input costs, which have put a ceiling on the new car price.

In addition, higher interest rates and energy prices are making auto loans and leases more expensive, and consumers may face difficulty financing a vehicle. Despite these challenges, many experts expect the market to bounce back in 2023.

Prices will decline by 10% to 20% for used cars

Used car prices are projected to fall between 10% and 20% in 2023, according to JP Morgan Research. Prices have already been ebbing since the middle of the year, and they’re likely to keep dropping into the new year.

High new vehicle prices drove many shoppers to the used market. But the recent declines in prices may bring some relief to …

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|In: Car Automotive|Last Updated:
Volvo Motorcars

If you have been looking for a new car to drive, you may want to consider Volvo motorcars. The company has a great reputation for quality and durability and their vehicles are popular with both road and off-road enthusiasts. They offer a wide variety of models and are available for both luxury and economy buyers.

SKF trademark for motorcars

Volvo, or VOLVO, is a Swedish brand of motorcars and trucks. It is also a brand name in the industrial drive systems and aerospace components industry.

The VOLVO trademark is a registered mark in many countries. The trademark’s symbol is a circle and arrow. In Latin, the symbol means “I roll.”

The arrow translates to “strength” in the English language. A symbol of this kind has been used since ancient times. During the Roman empire, it was the symbol for the planet Mars.

Today, the Volvo logo is a circular emblem with an arrow pointing toward the left. This symbol is believed to be a homage to the strength of iron.

The symbol is still found on the grille of a Volvo car today. The diagonal band was originally a technical necessity to hold the chrome badge.

The symbol is the product of a collaboration between Volvo and its former partner, Svenska Kullagerfabriken. SKF was a world leader in industrial bearings.

AB SKF incorporated Volvo as a subsidiary company in 1915. It was a precursor to the modern day Volvo Car Corporation.

Originally, the Volvo logo was designed as a way of showcasing the strength of the iron industry in Sweden. Later, it was complimented by a diagonal band across the radiator.

Swedish authorities concerned about the fate of Volvo Cars

Ahead of the Chinese carmaker’s takeover of Volvo Cars, several Swedish authorities have expressed concern about the future of the …

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