Demand Ups Used Car Prices In US, UK, Germany

It may be time to retire the used car salesman jokes, at least for a while.

Sales of used cars are strong across the United States and Europe, the Financial Times (FT) reported. Factors driving the increase include a chip shortage that has limited supplies of new cars and reluctance among virus-weary commuters to crowd onto public transportation.

As a result, according to FT, the usual economics of buying cars — vehicles shed value from the moment new owners leave dealers’ lots — have been flipped upside down.

Cap Hpi has tracked prices of used cars on a “live” basis since 2012, FT reported. Before 2021, according to the data firm, the biggest monthly increase in average prices was 1 percent in 2018; this May, they rose 6.7 percent.

“Normally cars depreciate, they don’t go up in

Read More

Here’s how to check if your car has a recall

Car Dealership's Service Center

Don Mason/Getty Images

Car recalls happen far more often than you may realize, and the truth is, your car may be part of one at any moment. Whether you purchased a car new or used, owned it for months or years, open recalls happen all the time — and you’re entitled to a repair for your car, truck or SUV. Automakers are required by law to send out recall alerts to owners, including via mail, email and sometimes over the phone, but these notices can be pretty easy to miss. Thankfully, keeping tabs on open recalls is actually a very simple process.

If you’re wondering if your vehicle is part of a recall, read on to follow the simple steps to check.

1. Locate your VIN

Your unique 17-character vehicle identification number, or VIN, can be found in a number of places on your vehicle. Think of it like your

Read More

Frank Kleptz’s 1963 Chrysler Turbine Car On Display At Stahl Automotive Foundation Museum

⚡️ Read the full article on Motorious

Chrysler’s search for a more reliable engine in the 1960s created a few priceless collectables.

In all 55 examples of Chrysler’s 1963 Turbine Car were made. To test the revolutionary cars designed to offer an alternative to the piston engines of the time, the cars were loaned out to various real-world drivers. Instead of finding that the new turbine engine powered cars were more reliable and efficient than Chrysler’s other engines of the 1960s, the project proved to be inefficient with higher emissions. Shortly after these findings, all but nine of the cars were scrapped along with the project itself.

Two remained with Chrysler, five were destined for the museum, and two others were privately held. Of course one of those privately held examples ended up in Jay Leno’s collection. While that is not really all that surprising, what is extraordinary is the

Read More

Monthly Car Sales Can Keep Going Strong. So Can Car Stocks.

Text size

New Subaru cars parked on a storage lot in California.

Justin Sullivan/Getty Images

Investors will get another number after Wednesday’s close that they should consider acting on—monthly U.S. auto sales.

May’s number will be solid if the figure from April is any indication. April’s total for light vehicles—monthly sales are reported as a seasonally adjusted annual rate, or SAAR—came in at 18.5 million, the highest reading since 2005, according to data available on Bloomberg.

That level shows demand is strong, despite a worldwide automotive semiconductor shortage that is limiting the supply of new vehicles—and driving car prices higher. In turn, the higher prices are pushing up auto stocks, a dynamic that can last longer than investors might expect.

Constrained production caused by the chip shortage, along with rising prices for commodities used in cars, sound like a recipe for stock market disaster. The cost of copper,

Read More