New Vehicle Sales Projections 2020-2024 Car sales in the United States could range between 10.2 and 12.7 million units in 2020. The car industry was expected to sell about 16.9 million vehicles before COVID but the market outlook has worsened. In 2019, 17 million new cars were sold in the
U.S. light-vehicle sales by nameplate, 6 month comparison of 2019 versus 2020 Percent Drop in New Car Sales First 6 Months 2019 v 2020 (PDF) Chrysler tops the list with a 50% decline in sales. New-vehicle sales in U.S. plummet 34% in Q2 of 2020. Some segments fared better than
Traffic vs Accident Reduction 2020 Less cars on road = a lot less accidents. Vehicle miles traveled nationwide was down 41% in April and projections show up to a 9.4% decrease in 2020. Due to reduced traffic on roads, accidents have dramatically fallen. For each 1% drop in traffic, there’s
Hyundai Sales Down 31% in March 2020 Despite sale increases in January and February 2020, March sales put the quarter in negative territory. One bright spot however is the fact that at -5.4%, Hyundai group’s decline is still half of the average US industry decline of 12% in Q1 2020.
Large Pickup Trucks Sales Least Effected by Covid While most dealers in US are experiencing sale declines as high as 80% in in the second half of March 2020, large pickup truck sales remained flat in the South dropped only 29% in the northeast. Reasons for the low decline in
Car Prices Drop 4% at Auction
Spring is usually the high season when it comes to car sales. Dealers, anticipating tax refund checks stock up on inventory.
The early March week to week price index was as high as 1.25% signaling the beginning of the Spring car season. This is a stark contrast the the late March/early April price index of -2.5% which is almost a 4% swing in prices.
4% might not seem that high on first glance, however if this trend continues, car prices are set to drop around 15% by mid-May.
COVID-19 Operations Update as of March 25, 2020 Due to ongoing public health concerns and the safety of all involved, Manheim is making operational and policy changes to address the changing conditions in various locations. In the event that a Manheim auction or offsite location (i.e. dealership or storage location)
AFC Dealer Changes Lending Terms March 2020 Dealers logging in to the AFC website are being prompted to agree to new lending terms. Below is the message received. AFC account access is blocked until the terms are agreed on. “ Change Notices Attention! Changes to certain terms and conditions
Georgia Motor Vehicle Division Extension of Motor Vehicle Registrations Due to concerns regarding COVID-19, the Georgia Motor Vehicle Division (MVD) is extending all motor vehicle registrations that expire between March 16, 2020, and May 14, 2020. Those registrations are extended through May 15, 2020. This extension applies to personal passenger
Classic Ford Mustang Price Decline Q1 2020 After seeing steady increases through the last decade, the price of classic or collector Ford Mustangs (Generations 1 and 2 as well as Shelbys) is on the decline. The COVID19 virus has adversely affected the classic and collector car market with a cash
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
Wondering how much your vehicle lost in Value? Click the button to know more.
Diminished Value of Georgia is powered by Appraisal Engine Inc™ | All Rights Reserved.
