Day: October 18, 2021

Here’s a buying opportunity for smart used-car shoppers

Americans bought more than 225,000 Certified Pre-Owned (CPO) cars in September. That’s a 2% increase from August and a 1% increase compared to September of last year.

Selling too fast for certification

But the slight increase masks a startling phenomenon. CPO sales could have been much higher, except that dealers may be selling used cars too fast to pass them through the certification process. That creates a unique buying opportunity for smart shoppers (more on that in a moment).

Kevin Chartier, vice president at Manheim Consulting, explains, “In today’s market, everything is selling so quickly and at such high prices, that I think that in many cases the dealers are selling cars before they get a chance to pull them into their shops to spend the time to recondition them up to full CPO standards.”

(Manheim Consulting and Kelley Blue Book share the same parent company, Cox Automotive.)

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Carmakers shift up a gear in race to go electric

By Nick Carey

LONDON (Reuters) – With electric car sales soaring and regulations increasingly favouring zero-emission vehicles, a flurry of announcements on Monday showed how the global auto industry has kicked into a higher gear as it races to speed past the fossil-fuel car era.

As part of its own 30 billion euro ($34.7 billion) electrification plan Stellantis – born out of a merger of PSA and Fiat Chrysler earlier this year – said it had entered a preliminary agreement with battery maker LG Energy Solution to produce battery cells and modules for North America, where the world’s No. 4 automaker expects more than 40% of its U.S. sales will be electric vehicles (EVs) by 2030.

That follows a recent announcement that Daimler AG will take a 33% stake in battery cell manufacturer Automotive Cells Company (ACC), founded in 2020 by Stellantis and TotalEnergies in 2020.

Carmakers are racing to

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