Auto Market Update Week Ending Feb 25, 2023 (PDF) Continuing its upward trend that started three weeks ago, the market gained another 0.21% after gaining 0.14% the week prior. The last time the market gained this much in one week was in May 2022. Compared to the previous week,
Auto Incentives and Rebates Week Ending Mar 4, 2023 (PDF) A summary of retail incentives for the week ending March 4 is provided in the table below. We didn’t have many changes compared to the previous week, with only the Volkswagen Group making the most significant changes. Programs may
US Dealer Groups Show Strong F&I Profits in Q4 2022 (PDF) The prospect of rising interest rates in 2023 could affect the finance and insurance businesses of publicly traded franchised dealership groups. Six publicly-traded franchised auto retailers might be experiencing a leveling off in their finance-and-insurance gross profit per
Even a minor accident can significantly impact the value of your 2022 Tesla Model Y. Despite high-quality repairs, the mere fact that your vehicle has a documented accident history can reduce its resale value. That’s where diminished value comes into play. The reality is that the insurance company is not
Auto Market Update Week Ending Feb 18, 2023 (PDF) Last week, the market gained another 0.14 percent. The 2-to-8-year-old car segment had the largest increase of 0.19%, while the 0-to-2-year-old car segment saw the largest increase of 0.41%. That is the largest increase this segment of vehicles has seen
Auto Incentives and Rebates Week Ending Feb 25, 2023 (PDF) A summary of retail incentives for the week ending February 25 is provided in the table below. We didn’t have many changes compared to the previous week, with only Ford, Mazda, and Stellantis making the most significant changes. Programs
EVs Are on The Radar of Toyota’s New CEO (PDF) The incoming CEO of Toyota, one of the world’s largest automakers, said this week he plans to increase production of electric vehicles, starting with the Lexus luxury brand. Because of the strategy of the outgoing CEO and grandson of
Auto Market Update Week Ending Feb 11, 2023 (PDF) The overall market reversed its course and returned to the green zone last week, the first time since mid-June 2019. The 0-to-2-year-old units saw bigger gains than their 2-to-8-year-old peers. The former posted an increase of +0.12% while the latter
Auto Incentives and Rebates Week Ending Feb 18, 2023 (PDF) The purpose of consumer incentives and rebates is to boost sales of a particular vehicle through dealerships at a specific time of year to benefit all parties. The following list provides guidance to consumers who want to take advantage
Inflation Concerns Add Challenges to the Used Car Market (PDF) Even as the Federal Reserve raises interest rates, a surprise spike in used-vehicle prices last month is fueling frustration among US car buyers. As a result of the 2.5% rise in used vehicle prices from December, Manheim said some
Auto Market Update Week Ending Feb 4, 2023(PDF) Last week, the market reported the lowest overall depreciation since the end of June 2022, continuing the reduction in weekly depreciation that began a couple of weeks ago. For the first time since early June last year, the Compact Crossover segment
Auto Incentives and Rebates Week Ending Feb 11, 2023 (PDF) The purpose of consumer incentives and rebates is to boost sales of a particular vehicle through dealerships at a specific time of year to benefit all parties. The following list provides guidance to consumers who want to take advantage
Auto Industry Reacts to Tesla Price Cuts (PDF) Most automakers are holding their prices firm and introducing more affordable models later, while a few, such as Ford, have responded to Tesla’s price cuts of up to 20 percent. It’s still too early to call it an electric vehicle price war,
Auto Suppliers May Face Another Tough Year (PDF) We might be in for a fourth year of challenges and setbacks for suppliers. As parts suppliers navigate the uncertainty in the new-vehicle market and the economy, it’s already shaping up to be another bumpy year as inflation and rising interest
Auto Market Update Week Ending Jan 28, 2023 (PDF) For the second consecutive week, the Sporty Car segment has reported an increase, indicating an early sign of a potential Spring market bump. Additionally, the older, 8-to-16-year-old vehicles report lower depreciation, -0.27%, compared to -0.50% for the 2-to-16-year-olds. Compared with
Auto Incentives and Rebates Week Ending Feb 4, 2023 (PDF) The purpose of consumer incentives and rebates is to boost sales of a particular vehicle through dealerships at a specific time of year to benefit all parties. The following list provides guidance to consumers who want to take advantage
Auto Incentives and Rebates Week Ending Jan 21, 2023 (PDF) The purpose of consumer incentives and rebates is to boost sales of a particular vehicle through dealerships at a specific time of year to benefit all parties. The following list provides guidance to consumers who want to take advantage
Auto Market Update Week Ending Jan 21, 2023 (PDF) Before Q3 and Q4, the price declines had begun to accelerate, coming in at a level on par with last July (apart from the weeks around Thanksgiving and Christmas when volume and conversions were down). Compared to the previous week,
What to Expect From the Leasing Market in 2023? (PDF) Despite not returning to its pre-pandemic share of one-third of retail auto sales as of 2022, auto leasing is expected to represent more of the market in 2023 after bottoming out in 2022. In 2023, experts predict that leasing
Used Car Sales Drops to its Lowest Level in Nearly a Decade (PDF) As a result of volatile economic conditions and consumers’ concerns about affordability, used vehicle sales in 2022 fell to their lowest levels in nearly a decade. Used-vehicle sales in the past decade Year Overall Retail 2022
Would you rather collect 80% of an accurate appraisal or 20% of an inflated one?
Many clients believe that if another appraiser gives them a higher initial estimate, the settlement amount will be equally high. WRONG!
Insurance companies know who the legitimate appraisers are, so don't get caught up in the estimate game. Hire an appraiser based on their credentials and reputation.
Seven things to look for when choosing an appraisal company
