To nobody’s surprise, 2020 was a rough year for the auto industry. Sales were noticeably lower than in previous years. However, experts predict that auto sales will be making a comeback this year.
Some people believe that, if they trade in their older vehicle for a new car, they can get a great deal. But any chance for these prospective new car buyers to get the price they want may be slim to none. These are a few things to watch out for before thinking about turning in your clunker to a dealer:
California Governor Gavin Newsom recently signed an executive order that will ban the sales of newly built gas-powered cars by the year 2035. He said the ban would help in the fight against climate change as more people make the switch to electric, zero-emission vehicles. The order would still allow the sale and ownership of used cars.
Kiplinger featured a story on drivers over the age of 50 who were in the market for a new car. Most of them said they needed a vehicle that both addresses their mobility issues and helps them stay safe on the road.
Recent estimates from the Bureau of Economic Analysis (BEA) showed that more car buyers bought domestic vehicles than their foreign counterparts. This comes as the U.S. auto market is attempting to recover from the lockdown as a result of the COVID-19 pandemic.
After a two-year hiatus, Ford Motor Company has decided to release its U.S. monthly sales reports again. This was reported by Bloomberg and picked up by Automotive News.
Although auto manufacturers saw new car sales fall in the third quarter compared to last year, the losses were not as bad as they were in the previous quarter in 2020. According to Edmunds, third-quarter new vehicle sales were 11% lower than the same time last year. However, that is better than the second quarter, when there was a 30.6% decline. Continue reading “Despite Losses, New Car Sales in Q3 Show Improvement”
A recent article from Curbed debated findings from The New York Times that New York City saw a surge in vehicle registrations, called the “Vroom Boom,” as more city dwellers saw an opportunity to have their own form of transportation. However, Curbed argued those figures may be greatly exaggerated, as the “Vroom Boom” wasn’t the big bang it was made out to be.
You bought yourself a new car recently. Congratulations! But, as you continue to enjoy your new car over time, your old junk car still sits in front of the house, unused. It’s been a while since it’s been driven. You may not know it, but that old car sitting there could put money in your pocket. It makes no sense throwing money away, especially if you are still paying insurance on that old car you’re no longer driving. Gershow Recycling will buy your junk car, which means money in your pocket!
With new car sales staging a comeback last month after a horrible showing the previous month, all signs also point to more people getting rid of their junk cars.