Auto Facts
 
 

 

Underwater vehicle loans
Posted on: 07/09/2018

Do you know the meaning of “upside down or underwater” in auto lingo?  Well, it's simple.  The definition is negative equity.  In plain language that means a vehicle owner has more owing on the auto than the value.  

Edmunds reported that of the 3.3 million retail units sold in the first quarter of 2018, 43% of new-vehicle buyers had a trade-in.  But, 32% or 457,000 vehicles had a negative equity, which was 14.1% of the new-vehicle market.

Example:  Customer buys a new car with a purchase price of $25,000.  The customer has a trade-in that is worth $17,000 with a remaining balance of $18,500. 

The buyer must pay-off the balance owing ($1,500) on the trade or roll-over that amount to the purchase price of the new.

Edmunds senior analyst Ivan Drury said, “Customers who spend little time researching a vehicle and move too quickly into the purchase are more inclined to fall into negative equity.”   



Top 10 best-selling autos in June
Posted on: 07/04/2018

The top ten best-selling automobiles in June and year-to-date as reported by Automotive News.  The (*) denotes estimated.

June     6 mos.
1 Ford F series 79,204   Ford F series 451,138
2 Chevrolet Silverado* 53,381   Chevrolet Silverado 291,074
3 Ram pickup 43,542   Ram pickup 233,539
4 Toyota RAV4 37,722   Nissan Rogue 215,202
5 Nissan Rogue 37,004   Toyota RAV4 198,392
6 Honda CR-V 33,306   Honda CR-V 179,580
7 Honda Civic 31,345   Toyota Camry 178,795
8 Ford Escape 28,901   Honda Civic 176,242
9 Toyota Camry 28,215   Toyota Corolla 161,462
10 Toyota Corolla 28,168   Chevrolet Equinox 156,365

 



Top 10 best-selling cars in June
Posted on: 07/04/2018

The top ten best-selling cars in June and year-to-date as reported by Automotive News.  The (*) denotes estimated.

June     6 mos.
1 Honda Civic 31,345   Toyota Camry 178,795
2 Toyota Camry 28,215   Honda Civic 176,242
3 Toyota Corolla 28,168   Toyota Corolla 161,462
4 Nissan Altima 26,956   Honda Accord 138,290
5 Honda Accord 26,726   Nissan Altima 123,792
6 Nissan Sentra 20,572   Nissan Sentra 115,676
7 Hyundai Elantra 17,858   Hyundai Elantra 99,728
8 Chevrolet Malibu* 15,692   Ford Fusion 86,978
9 Ford Fusion 15,678   Chevrolet Cruze 77,691
10 Chevrolet Cruze* 12,820   Chevrolet Malibu 76,417


Top 10 best-selling light trucks in June
Posted on: 07/04/2018

The top ten best-selling light trucks in June and year-to-date as reported by Automotive News.  The (*) denotes estimated. 

 
    June     6 mos.
1 Ford F series 79,204   Ford F series 451,138
2 Chevrolet Silverado* 53,381   Chevrolet Silverado 291,074
3 Ram pickup 43,542   Ram pickup 233,539
4 Toyota RAV4 37,722   Nissan Rogue 215,202
5 Nissan Rogue 37,004   Toyota RAV4 198,392
6 Honda CR-V 33,306   Honda CR-V 179,580
7 Ford Escape 28,901   Chevrolet Equinox 156,365
8 GMC Sierra* 26,301   Ford Escape 144,627
9 Jeep Wrangler 23,110   Jeep Wrangler 133,492
10 Jeep Cherokee 22,433   Ford Explorer 128,706


Incentives in May
Posted on: 06/23/2018

Incentives in May increased again making it the 38th month in a row.  J.D. Power Valuation Services reported “On average, according to Autodata, spending reached $3,740 per unit versus $3,510 per unit in May 2017.  Overall spending grew by 6.6%, however, average passenger car spending declined by 3.8% while light truck and SUV grew by 12.8%.”

The largest increase by the Big Three was GM with a huge increase of 26.5% for an average of $5,338 per unit.  Ford had a slight increase of 5.4% for an average of $4,346 per unit.  FCA had a low increase of 0.8% to an average of $4,471 per unit.

Toyota had a decrease of 14.2% (an average of $2,222 per unit).  

American Honda decreased incentives by 8% (an average of $1,883 per unit). 

Nissan North America dropped incentives by 10.9% to $3,664 per unit.

The luxury brands also changed and BMW increased by 34.5% ($5,819 per unit).  Audi increased spending by 37.5% for an average of $4,250 per unit.  Mercedes-Benz increased by 31.4% to $6,058 per unit.

And, as it seems month after month, Subaru was virtually unchanged with an average of $1,464 per unit.




 
 
 
 
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