Auto Facts
 
 

 

Water damaged autos
Posted on: 09/05/2017

At the same time that people in Texas are putting their lives back together after Hurricane Harvey, there are estimates of the number of vehicles that are total losses from flood damages.

Jonathan Smoke, chief economist for Cox Automotive, estimated the number could be 300,000 to 500,000.  That number would surpass the 250,000 from Hurricane Sandy in 2012.  And, as of today (9-5-17), Hurricane Irma is heading for the U.S. 



Top 10 best selling autos in August
Posted on: 09/03/2017

The top ten best selling autos in August and YTD as reported by Automotive News.

 

Top Selling Light Vehicles

 

 

 

Aug.

 

 

8 mos.

1

Ford F series

77,007

 

Ford F series

576,334

2

Chevrolet Silverado

54,448

 

Chevrolet Silverado

363,354

3

Toyota RAV4

43,265

 

Ram pickup

327,759

4

Ram pickup

37,608

 

Toyota RAV4

269,835

5

Toyota Camry

37,051

 

Nissan Rogue

257,958

6

Honda Civic

36,482

 

Honda CR-V

249,977

7

Honda CR-V

30,960

 

Honda Civic

248,928

8

Honda Accord

30,019

 

Toyota Camry

247,775

9

Nissan Rogue

29,844

 

Toyota Corolla

232,504

10

Chevrolet Equinox

28,245

 

Honda Accord

221,013

           

 



Top ten best selling light trucks in August
Posted on: 09/03/2017

The top ten best selling light trucks in August and YTD as reported by Automotive News.

 

Top Selling Light Trucks

 

 

 

Aug.

 

 

8 mos.

1

Ford F series

77,007

 

Ford F series

576,334

2

Chevrolet Silverado

54,448

 

Chevrolet Silverado

363,354

3

Toyota RAV4

43,265

 

Ram pickup

327,759

4

Ram pickup

37,608

 

Toyota RAV4

269,835

5

Honda CR-V

30,960

 

Nissan Rogue

257,958

6

Nissan Rogue

29,844

 

Honda CR-V

249,977

7

Chevrolet Equinox

28,245

 

Ford Escape

208,303

8

Ford Escape

23,631

 

Chevrolet Equinox

185,223

9

Jeep Grand Cherokee

23,572

 

Ford Explorer

177,827

10

Ford Explorer

20,747

 

Jeep Grand Cherokee

158,975

           

 



Top 10 best selling cars in August
Posted on: 09/03/2017

The top ten best selling cars in August and YTD as reported by Automotive News.

 

Top Selling Cars

 

 

 

Aug.

 

 

8 mos.

1

Toyota Camry

37,051

 

Honda Civic

248,928

2

Honda Civic

36,482

 

Toyota Camry

247,775

3

Honda Accord

30,019

 

Toyota Corolla

232,504

4

Toyota Corolla

27,644

 

Honda Accord

221,013

5

Chevrolet Malibu

22,725

 

Nissan Altima

183,292

6

Ford Fusion

17,378

 

Nissan Sentra

146,583

7

Chevrolet Cruze

16,500

 

Ford Fusion

138,489

8

Nissan Sentra

15,285

 

Chevrolet Cruze

133,966

9

Hyundai Elantra

15,127

 

Hyundai Elantra

128,666

10

Nissan Altima

14,694

 

Chevrolet Malibu

117,173

           

 

 



Used car prices are falling
Posted on: 08/24/2017

Kyle Stock, Automotive News, wrote:  The average used vehicle lost 17 percent of its value in the past 12 months, dropping from $18,400 to $15,300, according to data from Black Book, an auto analytics company.  With so many new cars rolling out of dealerships lots and instantly becoming used cars, the secondary market is glutted and the pace of depreciation is rapidly accelerating.   

That quote has a very positive point for the used car buyer in that prices on late model used are low and could continue that trend.  If you have a trade-in the news isn’t quite as good since the price of your used car has probably declined at the same pace.

Are used car actually depreciating act a record rate?  Well, Mr. Stock said the average used car today depreciates nearly twice as fast as it did in 2014, when the annual rate was just 9.5 percent.

Quiz #1 - Do all segments of vehicles depreciate at the same rate?  Answer at the bottom of the page.

Quiz #2 – In the auto finance business what is the meaning of the term “upside down”?

Quiz #3 – According to registrations for light VIO (vehicles in operation), including cars and light trucks (SUVs/CUVs as well) in the U.S. also reached a record level in 2016 of more than _____.  Is the answer 120, 196, or 264 million?

Quiz #4 – The average age of light vehicles in operation (VIO) in the U.S. climbed slightly in 2016.  What is the average age ____?  Is the answer 9.7, 10.2 or 11.6 years?

Quiz #5 – At the end of 2015, the average length of ownership of a new vehicle measured a record _____months.  What is the number of months 57.6, 64.5 or 79.3?

It seems difficult to understand but IHS Markit research shows: The oldest vehicles on the road are growing the fastest – with vehicles 16 years and older expected to grow 30 percent from 62 million units today to 81 million units in 2021.  IHS Markit research also indicates more than 20 million vehicles on the road in 2021 will be more than 25 years old.

Quiz Answers:

#1 – No.  Subcompact cars, such as the Honda Fit, and large sedans, such as the Chevrolet Impala, are depreciating faster than average.  Big SUVs, vans, and pickups are holding their value a little better, and imports tend to drop more quickly than domestic models.

#2 – The owners of vehicles that are financed owe more on the car than the value.

#3 – The record number is more than 264 million.

#4 – The answer is 11.6 years.

#5 – You are correct if you said 79.3 months.  By the way the number of months for used vehicles is nearly 66 months. 




 
 
 
 
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