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Auto loan interest rates in June likely reached their highest level in nine years, Edmunds reported, a week after saying a strong economy is likely masking market factors bubbling just below the service that could start to slow down sales.
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Depreciation, new vehicle prices, and residual value all affect businesses with mobile workforces – here’s what to expect.
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Used-vehicle sales will rise and new-vehicle sales will fall in 2018, while total sales will reach 56.2 million, which would represent a second year of declines for the automotive industry, according to a Cox Automotive forecast.
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The commercial vehicle market saw sales fall by 7.5% in April, compared to the same time last year.
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The fuel economy of new cars and trucks in the U.S. for model-year 2016 was 24.7 miles per gallon, 0.1 mpg higher than MY-2015, which is a record high.
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The average fuel economy of new vehicles sold in the U.S. in December fell to 25 mpg — down 0.2 mpg from a revised November value, according to Brandon Schoettle and Michael Sivak, researchers from the University of Michigan's Transportation Research Institute (UMTRI).
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New vehicle sales in Australia surpassed one million in November 2017, which was bolstered partially by strong sales to businesses.
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New-vehicle sales for 2017 should reach 17.1 million, which would make 2017 the fourth-highest year on record and signals continuing robust health in the automotive industry, according to Kelley Blue Book.
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The demand for replacement vehicles has already started, and experts say it will continue well into October, and possibly November, as insurance payouts are received.
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Households have set a new nominal record for debt, according to Manheim Chief Economist Jonathan Smoke’s Industry Insights. This, the report added, is a sign that consumer confidence is high and that credit is readily available
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