A 17.1 million total would match 2019’s total and mark the sixth year in a row that new-vehicle sales would top 17 million.
The average sale price for a 3-year-old used vehicle was $14,951 less than its new equivalent in the third quarter of 2019.
The average three-year-old used vehicle cost buyers $14,443 less dollars then its new equivalent during the second quarter of 2019, according to the latest Used Vehicle report from Edmunds.
The average interest rate for a new-vehicle loan dropped for the third month in a row in July, hitting its lowest level of 2019, according to Edmunds.
U.S. new-vehicle dealers sold 1,328,649 cars and light trucks in April, a 2.3% year-over-year decline and a full 3% loss to start the year compared with the first four months of 2018.
The annual percentage rate on new financed vehicles is expected to average 6.36% in March, compared to 5.66% last year and 4.44% five years ago, according to the latest report from Edmunds.
The industry will sell approximately 1.27 million new cars and trucks in February, representing a 2.2% decrease from a year ago, according to an Edmunds forecast.
Used vehicle prices reached $20,084 in the third quarter of 2018, representing a 3.5% year-over-year increase, and the highest price since 2005.
Edmunds is forecasting 1,392,434 new vehicles sales through September, representing a 5.4% decline from March and an 8.3% decline from the same time last year.
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.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In
