jump

Used cars prices jump as new car production drops

Those looking to buy a late-model car, truck or sport utility vehicle may suffer from sticker shock when they see the price of used vehicles, which the U.S. government’s consumer price index calculates have risen by about 30% since May 2020.

“It’s all about the inventory. There’s a high demand and a low inventory,” said Lisa McIntyre, executive director of the Greater Pittsburgh Automobile Dealers Association, a trade association representing about 200 dealerships in Southwestern Pennsylvania.

When there is not a sufficient number of new vehicles to fill demand or buyers don’t want to pay new car prices, they turn to used cars, pushing prices up, McIntyre said.

A certified pre-owned vehicle rose in price from about $10,000 in February to about $11,500 to $11,800 now, said Jeff Dohallow, general manager for Kenny Ross Subaru in North Huntingdon.

At Nick Chevrolet in Tarentum, sales manager Glenn Harbison said the

Read More

Car sales jump 13pc in 1HFY21 – Newspaper

KARACHI: Barring heavy commercial vehicles (HCVs), the entire auto sector gave a brisk performance during the first half of current fiscal year (1HFY21) on account of low interest rates and better farm incomes.

Buyers purchased more number of vehicles despite rising price trend in vehicles amid low cost of imports owing to a stronger rupee against the dollar from the last week of August 2020 — at Rs168 — compared to the current rate of Rs160 in the inter-bank market.

Car sales jumped by 13.4 per cent to 67,026 units followed by 134pc in jeeps, 32.4pc in light commercial vehicles (LCVs), 43pc in farm tractors and 19pc in two/three-wheelers.

According to the figures released by Pakistan Automotive Manufacturers (Pama), Honda Civic/City had left its rivals far behind by posting a sales jump of 73pc to 11,958. The second highest rise of 28pc was recorded in Suzuki Bolan with sales of

Read More

Electric-car sales jump to record 54% market share in Norway in 2020 but Tesla loses top spot

Electric-car sales jumped to a record 54% of all new-vehicle sales in Norway last year, but Tesla’s Model 3 lost its place as the country’s bestselling vehicle despite a late surge.

It is the first time a country has recorded more sales of electric cars than those powered by petrol, diesel and hybrid engines over an entire year.

The Norwegian government plans to ban the sale of petrol and diesel cars by 2025, and has used incentives and tax breaks in recent years to encourage an electric-car boom.

Battery-electric vehicles (BEVs) made up 54.3% of new passenger-car sales in 2020, up from 42% in 2019, according to figures published by the Norwegian Road Federation (OFV) on Tuesday.

December was a bumper month for car sales in the Nordic country — the best on record — as more than 20,000 new vehicles were registered. Of these, 66.7% were electric vehicles

Read More

EU electric and plug-in hybrid car sales jump to over 1 million in 2020

Heavy traffic fills the ring road in Paris during the outbreak of the coronavirus disease (COVID-19), France, May 6, 2020. REUTERS/Charles Platiau/Files

LONDON (Reuters) – Sales of electric and plug-in hybrid cars in the European Union almost trebled to over 1 million vehicles last year, accounting for more than 10% of overall sales, data showed on Thursday.

The jump in sales shows electrified vehicles are becoming more mainstream products after years of being a niche market and it came at a time when overall EU car sales plunged nearly 24% to 9.9 million because of COVID-19 lockdowns.

The data released by the European Automobile Manufacturers Association (ACEA) showed sales of fully-electric and plug-in hybrids surged to 1.046 million vehicles from 387,808 in 2019.

Sales of self-charging hybrid cars climbed 59% to 1.182 million last year while petrol and diesel vehicle sales fell 37% and 32% respectively, the data showed. Petrol

Read More