DIRS.INFO The most relevant business & tech news

☆ How car buyers thinking hybrid over EV should make the decision
▼ + stars: | 2024-04-07 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +8 min

And what would the upfront costs be to upgrade your system to allow for faster charging, if desired? Do the math on upfront cost, EV vs. hybridIf it's still a toss up between an EV and a hybrid, next consider upfront costs. By contrast, the average starting price for a hybrid car is $33,214, according to iSeeCars.com, a car search engine. Search for available auto rebates and incentivesIf you're leaning toward an EV, but still find the upfront cost daunting, look for possible rebates. He points to a study by Argonne National Lab that shows scheduled maintenance costs per mile are significantly lower for an EV versus a traditional hybrid or plug-in hybrid.

Persons: you've, Aston Martin, Sandeep Rao, there's, Rao, Steve Christensen, Maxwell Woody, Woody, Albert Gore, ZETA Organizations: Ford, General Motors, Mercedes, Benz, Volkswagen, Jaguar, Rover, Gallup, New York, EV, Chevrolet, Department of Energy, Battery Coalition, Progressive Casualty Insurance Company, of Michigan, University of Michigan, Argonne National Lab, Honda Locations: U.S, California, Florida, Texas

☆ Poor resale values of EVs threaten adoption, warn some experts
▼ + stars: | 2024-04-05 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

Jeff Gritchen | Medianews Group | Getty ImagesA car loses value as soon as you drive it off the lot, but electric vehicles are taking this adage to a new level. That's becoming a major barrier to wider adoption, according to some industry and investment experts. While lower used EV prices could increase their desirability to some buyers, they can also reduce demand for new electric vehicles, according to Karl Brauer, executive analyst at iSeeCars. Kuo further argued that the software and computing capabilities of used EVs may become outdated and incompatible with updates by the time they are sold or even beforehand. According to iSeeCars, dramatic drops in used electric vehicle values in the U.S. have largely been driven by aggressive price cuts by Tesla amid a broader price war in the EV market.

Persons: Jeff Gritchen, Karl Brauer, David Kuo, Kuo, EVs, iSeeCars, Tesla Organizations: Medianews, Getty, iSeeCars.com, Smart, Industry, Bloomberg, VW, Toyota Locations: Fountain Valley , California, U.S

☆ The pandemic broke the used car market — now shoppers are screwed
▼ + stars: | 2023-09-30 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

Used cars are still expensive, like they've been for years. Slow car production from 2020-2022 slammed the supply of lightly used cars in 2023, a study shows. AdvertisementAdvertisementRidiculously high used car prices are lingering like the last guest at the dinner party. During the pandemic, used cars got incredibly expensive for a couple of reasons. "There's really no factor contributing for used car prices to go down," Brauer said.

Persons: they've, —, iSeeCars, that's, that'll, Karl Brauer, Brauer, There's Organizations: Service, Toyota, Honda

☆ Used cars are older, pricier. 3 things to think about when shopping for a previously owned vehicle
▼ + stars: | 2023-09-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

As recently as 2019, used car shoppers could find a 3-year-old vehicle for about $23,000. Pandemic-era manufacturing issues have since increased the average age of used cars sold to 6.1 years, up from 4.8 years, according to car-shopping site iSeeCars.com, which analyzed more than 21 million used cars sold in 2019 and 2023. The average price for all used cars sold increased 33% between 2019 and this year, rising to $27,133 from $20,398, according to the site. To that point, 58% of sales from used vehicles came from 3-year-old or newer used cars in the second quarter of 2019. While prices cooled slightly, used cars overall are still expensive; sticker prices are 46% higher than the second quarter of 2018.

Persons: Karl Brauer, Edmunds Organizations: Finance Locations: Edmunds

☆ These 20 cars have the highest dealer markups over their sticker price
▼ + stars: | 2023-08-08 | by ( Alexa St. John | ) www.businessinsider.com time to read: +1 min

Average new car sticker prices have risen 7.4 percent from $39,712 last June to $42,645 this June. Here are the vehicles priced the highest above sticker, ranging from between 17% and 30% more. It's no secret that many cars aren't exactly affordable today, as new vehicles had an average sticker price of $42,645 in June. Dealers tacked on an average of $4,000 in markups to vehicle Manufacturer's Suggested Retail Prices in June, bringing the average price up 8.5% to $46,265, according to automotive research firm iSeeCars.com. See the 20 vehicles priced the highest above sticker price, per iSeeCars:

Persons: there's Locations: Edmunds

☆ Only 6 cars are selling for below their sticker price as dealer markups remain high
▼ + stars: | 2023-08-07 | by ( Alexa St. John | ) www.businessinsider.com time to read: +2 min

The pandemic brought on a supply crunch that's seen vehicles sell for way above their sticker prices. The COVID-19 pandemic brought on a car-supply crunch that normalized dealers selling vehicles well above sticker price. Though massive upcharges are becoming less common, there are still very few vehicles today that car shoppers can find for less than the Manufacturer's Suggested Retail Price. Just a year earlier, cars were going for $39,712 (sticker price) and priced more than 10 percent higher, around $43,717. See the six vehicles listed below sticker price, as well as the next six cars priced the closest to sticker price (albeit above), here:

Persons: iSeeCars.com

☆ Buying anything but a Tesla makes no sense right now
▼ + stars: | 2023-07-20 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Several car companies say their EVs will be built with the Tesla charging standard starting in 2025. Otherwise, buying an EV other than Tesla now means its charging tech will soon be in the minority. It's supposed to be a huge advantage to non-Tesla car companies that they're switching to Tesla's charging tech. With automakers, charging providers, and more moving to Tesla's tech, CCS will be far less popular in the coming years. The EV buyers in five to 10 years will be buying tech that's more advanced and stabilized.

Persons: Tesla, Elon, Karl Brauer, Brauer, NACS, Loren McDonald, McDonald Organizations: Morning, Ford, GM, Volvo, CCS Locations: America

☆ The sneaky way automakers are keeping car prices high
▼ + stars: | 2023-06-05 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Throughout the height of COVID, carmakers got used to getting high prices. Car companies have a new way of keeping prices up: limiting options on the dealer lot. Since recovering from COVID-related plant shutdowns and an extended shortage of chips required for today's tech-laden cars, companies like Ford, General Motors, and Stellantis have finally seen more cars head to dealer lots. But they got used to selling vehicles for high prices with minimal inventory on their lots. But shoppers shouldn't necessarily see some automaker's low inventory as a signal of high demand for a vehicle that they'd have to pay big dollars to compete on.

Persons: carmakers, that's, Karl Brauer, We've, Brauer, Kelley, Ed Kim, Kim Organizations: Morning, Ford, General Motors, Deutsche Bank, Fort Locations: COVID, Fort Wayne

☆ Automakers are pausing factory lines to help keep inventory low and prices high
▼ + stars: | 2023-05-03 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Throughout the height of COVID, carmakers got used to getting high prices. But some carmakers might limit their inventory to keep supply down and prices up. Since recovering from COVID-related plant shutdowns and an extended shortage of chips required for today's tech-laden cars, companies like Ford, General Motors, and Stellantis have finally seen more cars head to dealer lots. But they got used to selling vehicles for high prices with minimal inventory on their lots. But shoppers shouldn't necessarily see some automaker's low inventory as a signal of high demand for a vehicle that they'd have to pay big dollars to compete on.

☆ Used Tesla Model Y's are listed for 22% less than 3 years ago. Here are the EVs with the worst resale value.
▼ + stars: | 2023-04-04 | by ( Alexa St. John | ) www.businessinsider.com time to read: +2 min

Many car buyers wonder how electric cars will hold or lose their value over time. Here's which electric cars depreciated the most over the past three years. The average price of a used EV was about $32,750 in December, according to Recurrent's index of popular used EV models. Industry experts at iSeeCars.com pulled data on the average list price for several used electric cars that were 1 to 5 years old. Used Volvo XC40 Recharge SUVs in that age range saw the largest percent decrease in their average listing price since 2021 at a whopping 36%.

☆ A used F-150 costs 30% more than it did 3 years ago. See how the pandemic made America's most popular cars less affordable.
▼ + stars: | 2023-04-04 | by ( Alexa St. John | ) www.businessinsider.com time to read: +2 min

iSeeCars.com pulled data on the average list price for the 10 most popular used gas-powered cars. Industry experts at iSeeCars.com pulled data on the average list price for the 10 most popular used gas-powered cars that were 1 to 5 years old. (Note: Listing price does not necessarily mean final transaction price.) Used Ram 1500 pickups in that age range saw the largest percent increase in their average listing price since 2020 at a whopping 32%. If you're in the market for one of the 10 most popular used gas-powered vehicles, you might want to take a look at what they're listing for.

☆ Buying a car won't ever go back to normal — so you might as well buy now
▼ + stars: | 2023-03-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +7 min

What makes it a good idea to buy a car right now? It's important to remember that car buying is probably never going back to "normal." Used prices are expected to go back up again, creating a short window of opportunity. As for interest rates: It's hard to say what will happen in the long run. A cash buyer ready to undertake sufficient due diligence can certainly get a solid deal in today's car market."

☆ 31% of new cars sold for above sticker price last month. These 10 models have the biggest premiums
▼ + stars: | 2023-03-10 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

An estimated 31% of new vehicles were sold above MSRP last month, according to a joint forecast from J.D. On average, new autos are priced 8.8% above the manufacturer's suggested retail price, or MSRP, according to new research from iSeeCars.com. The biggest premiums paid are for luxury vehiclesAs for which cars are priced the most above MSRP: Most of them are luxury models, according to the iSeeCars study. Coming in first for the highest premium is the Genesis GV70, whose average price of $56,476 is 27.5% above an MSRP of $44,299. For instance, the Chevrolet Silverado 1500 comes with an average price of $50,116, which is 1.9% below an MSRP of $51,103.

☆ Traditional automakers have one huge leg up on EV startups: A nationwide network of shops ready to service cars
▼ + stars: | 2023-02-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +6 min

But today's EV startups don't operate that way. When in need of service, car buyers typically utilize the massive dealership network automakers like Ford, GM, Toyota and others have, or choose to take their vehicle elsewhere. Unlike Tesla, today's EV startups can't afford to tick their owners off with waits or make prospective buyers worry about repairs and service. The right-to-repair movement is also going to be significant for EV startups moving forward. "It comes down to how confident a given consumer feels when going with an electric vehicle from a new EV brand versus a traditional car from a traditional car company," Brauer said.

☆ Car prices could drop 20% this year. Here's where to expect the best deals first.
▼ + stars: | 2023-02-01 | by ( Tim Levin | Alexa St. John | ) www.businessinsider.com time to read: +3 min

After years of high prices and low inventory, car buyers might finally see things go their way. Consider certain brands or vehicle types if you’re car shopping in 2023. As a result, JPMorgan says, used car prices could fall by as much as 20% in 2023, and new car prices could drop by 5%. "The biggest, fastest drop in prices in returning toward normal, pre-pandemic prices would probably be in those segments," Brauer said. Pickup trucks, though popular in general, don't have great fuel economy, so prices have softened amid higher-than-normal gas prices, Brauer said.

☆ New electric cars come with a built-in mystery: Nobody can predict their resale value
▼ + stars: | 2023-01-24 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

But it's hard to say exactly how a used EV depreciates without much historical data. There are many things to consider when evaluating a used EV. Nobody knows how much a used EV is worthThe way that used luxury and non-luxury gas-powered vehicles depreciate might not necessarily apply to used electric cars because of several caveats, according to Edmunds analysts. What data we do have on used EV sale prices may not apply to the cars coming out now. There isn't much used EV data available to know how an EV might depreciate.

☆ Used cars are finally getting cheaper. Tesla's Model 3 and these 9 models are seeing the biggest price drops.
▼ + stars: | 2023-01-19 | by ( Tim Levin | ) www.businessinsider.com time to read: 1 min

These 10 used models saw the biggest price drops in the last four months of 2022, according to a recent study by iSeeCars.com. Ram trucks at a car dealership. AP Photo/David ZalubowskiThe firm analyzed sales of 1-5-year-old cars, excluding any models that were discontinued as of 2022 or were on sale for 3 or fewer model years in the period studied. Read more: Car buying is never going back to normal

☆ Now is a great time to buy a used Tesla
▼ + stars: | 2022-12-28 | by ( Tim Levin | ) www.businessinsider.com time to read: +2 min

Prices for used Teslas are dropping faster than the rest of the used-car market, Reuters reported. Secondhand Tesla prices dropped by some $11,500 between July and November. Prices of secondhand Teslas have dropped faster than used cars from other brands, Reuters reported Tuesday, citing data from Edmunds. Declining gas prices, competition from other brands, and high interest rates are all contributing to the dropping prices, Reuters reported. Used Teslas losing value could impact demand for the brand's new cars, Karl Brauer, executive editor at the car search engine iSeeCars.com told Reuters.

But the days of the Tesla flip are numbered - a potential threat to new car prices that are already getting cut. The average price for a used Tesla in November was $55,754, down 17% from a July peak of $67,297. The overall used car market posted a 4% drop during that period, according to Edmunds data. The used Teslas were in dealer inventory for 50 days on average in November, compared with 38 days for all used cars. He ordered a new one - but has just bought a used Tesla at a discount.

☆ Use this calculation to find the best used car for your money — plus 10 models that come out on top
▼ + stars: | 2022-12-27 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

The report then ranked those models based on the cost per remaining mile calculation to determine which used cars are the best deal. The 10 best used cars for the moneyIn the No. Overall, five Toyotas made the top 10 list of best 5-year-old used cars for the money, also including the Camry, Corolla and Avalon. He offered these five tips for anyone in the market for a used car. Being "basic" has its benefits: Going with widely popular models has an added advantage when it comes to buying a used car, Drury said.

☆ Car prices could drop 20% next year. Here's where to expect the best deals first.
▼ + stars: | 2022-12-19 | by ( Tim Levin | Alexa St. John | ) www.businessinsider.com time to read: +3 min

☆ Some of America's favorite cars, like the Toyota RAV4 and Prius, are now vastly unaffordable thanks to flat wages and astronomical prices
▼ + stars: | 2022-10-27 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

Popular cars like the Toyota RAV4 and Ford Mustang aren't affordable to buy used anymore, according to a new study. For example, a three-year-old Toyota Prius will now run you $32,000. A shortage of new vehicles and other pandemic-related factors have driven car prices through the roof in recent years. "From August of 2019, well before the pandemic lockdowns started, to August of 2022, new car prices increased by almost 29 percent, and three-year-old used car prices increased by 52 percent, but incomes increased by only 13%," said Karl Brauer, executive analyst at iSeeCars. A three-year-old used car needs to cost $25,542 or less to be affordable under iSeeCars' criteria.

Search resuls for: "iSeeCars.com"

22 mentions found