car values

Used vehicle average price soars above $25,000 in June

Posted in REVIEWS on July 26, 2021
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Events are happening so quickly and unexpectedly that headlines go stale hours after they're published. On July 21, the Associated Press said there was "a sliver of hope" for used car buyers in that the "seemingly endless streak of skyrocketing used-vehicle prices appears to be coming to a close." The following day, the analysts at Cox Automotive published their findings about the used car industry in June, bearing news that used car prices set a Read More »

A small victory: Used-car prices slip from dizzy heights

Posted in REVIEWS on July 21, 2021
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DEARBORN, Mich. — For months, anyone who wandered onto a dealer lot to look for a used car could be forgiven for doing a double take — and then wandering right off the lot. Prices had rocketed more than 40% from their levels just before the viral pandemic struck, to an average of nearly $25,000. The supply of vehicles had shrunk. And any hope of negotiating on price? Good luck with that. But now, a Read More »

Average new car transaction prices set another record in June

Posted in REVIEWS on July 21, 2021
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Industry data compiled and parsed by KBB declared a record for average new car transaction prices in May at $41,263. That represented an Olympic high jump of $2,125, or 5.4%, over May 2020, and a bump of $493, or 1.2%, over April 2021. KBB ended up revising May's final figure up to $42,330, making the difference even larger. The number crunchers have released their conclusions for June, finding transaction prices rising again to $42,258. That's Read More »

1987-1996 Ford Bronco | Used vehicle spotlight

Posted in REVIEWS on July 20, 2021
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We hope you're prepared to see a whole lot of new Ford Broncos — two-doors, four-doors, Sasquatches and Outer Banks — coming and going on the road over the next several months. But this big influx of off-roaders from the Blue Oval isn't really anything new. In fact, the new-for-2021 Bronco is actually sixth generation of the model line. It all started back in 1966 with a barebones machine designed to take on the likes Read More »

2022 VW GTI and Golf R pricing revealed at Chicago Auto Show

Posted in REVIEWS on July 14, 2021
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Volkswagen already announced — and we’ve already driven — both the 2022 GTI and 2022 Golf R, and today pricing for the two hot hatches is revealed. The pair haven’t had their full U.S.-specific reveals either, so that’s happening in Chicago today, too. GTI We’ll start with the 2022 GTI. The base trim is an S, and it starts at $30,540 when paired with a manual transmission. Tack on the DSG dual-clutch automatic, and you’re Read More »

2022 Infiniti QX60 pricing starts just under $48,000

Posted in REVIEWS on July 13, 2021
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Just a month after being revealed, the 2022 Infiniti QX60 has pricing. The base model starts at $47,875, which is $2,500 more than the outgoing model. The model line spans four trims, Pure, Luxe, Sensory and Autograph. Each one comes standard with front-wheel drive with all-wheel drive as an option. Adding all-wheel drive adds $2,000 for all trims except the Autograph, which costs $2,900 as it includes the tow package with a hitch, hitch wiring Read More »

16 cars now cost more to buy used than new

Posted in REVIEWS on June 30, 2021
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The average price of a new car ($41,263 last month) is higher today than ever before. Unfortunately for those looking to save a few bucks by buying used, the average price of used cars is way up in 2021, too, and for a variety of reasons. In fact, according to a new study by iSeeCars.com, some lightly used models are actually selling for more money than they did when brand-new on the showroom floor. Depending Read More »

Manufacturers have an answer to higher costs: Pass them on

Posted in REVIEWS on June 23, 2021
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CHICAGO — In 2018, Whirlpool Corp swung to a loss after a tariff-fueled rally in U.S. steel prices drove up its raw-materials costs. This year, it is paying $1 billion for steel and other materials, but the West Michigan appliance maker is on track to post its highest profit in decades. The difference? Booming demand, spurred by nearly $6 trillion in pandemic stimulus from Washington — more than the country's World War II budget — Read More »

Used-car prices are surging, but for some models more than others

Posted in REVIEWS on May 26, 2021
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Take pent-up demand for new vehicles, a reopening economy, and a chip shortage that's curtailing new-car production, and therefore supply, and any economist will tell you that combination will lead to higher automobile prices. Add irrational consumer behavior — is there any other kind? — and you get headlines like the recent one where nearly half of surveyed buyers said they were willing to spend $5,000 over list price to get a new car. (Likely, Read More »

2003-2011 Honda Element | Used Vehicle Spotlight

Posted in REVIEWS on May 25, 2021
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The early 2000s brought about a few interesting design trends, and one of the most unusual was the fascination with boxes. The Scion xB kickstarted the fad in America, and hot on its heels was the significantly larger subject of today's spotlight, the Honda Element. The Element was based on a concept called the Model X that was shown at the 2001 Detroit Auto Show, and aside from the retractable rear roof section like that Read More »