September

Used car prices hit record high in September

Car prices concept with toy car and money roll on roof
Photo (c) CatLane – Getty Images

Consumers shopping for a used car last month encountered record high prices, according to the latest Manheim Market Report (MMR). Used car values increased each week throughout September. 

Three-year-old vehicles — typically the cars and trucks that are most in-demand — increased in value by 4.6%. Throughout the entire month, buyers paid more than the MMR values. Despite there being higher prices, 65% of shoppers ended up buying a vehicle, compared to 52% in 2019.

Every type of vehicle saw price increases in September, but some increased more than others. The price of a van rose nearly 41% from September 2020. Pickup trucks, already among the most expensive used vehicles, rose by another 17.8%. Overall, prices were up 27.1%.

Like many segments of the economy, supply chain issues have reduced automotive inventories and led to higher prices. Since early in the pandemic, there has

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Nutson’s Weekly Auto News Wrap-Up September 12-18, 2021


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AUTO CENTRAL CHICAGO – September 19, 2021: Every Sunday Larry Nutson, The Chicago Car Guy and Executive Producer, with able assistance from senior editor Thom Cannell from The Auto Channel Michigan Bureau, compile The Auto Channel’s
“take” on this past week’s automotive news, condensed into easy to digest news Nuggets.

LEARN MORE: Links to full versions of today’s news nuggets along with a million pages of the past 25 year’s automotive news, articles, reviews and archived stories residing in
The Auto Channel Automotive News Library can be found by just copying and then inserting the main headline into the News Library Search Box.

Nutson’s Automotive News Wrap-up – Week Ending September 18, 2021; Below are the past week’s important, relevant, semi-secret, or snappy automotive news, opinions and insider back stories presented as
expertly crafted easy-to-digest news nuggets.

* Democrats in Congress have proposed expanding tax breaks for EVs. Among the

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Apple Car to Debut Next Year in September, Claims Sketchy Report

The Apple Car has been a part of rumors for several years now, and if a fresh report is to be believed, then we don’t have to maintain our patience any longer. Apparently, the company’s first effort in the automobile sector will materialize in September of next year.

Report Talks About Apple Car Arriving in 2021, Two Years Ahead of the Intended Release Schedule

According to previous reports, the Apple Car was expected to arrive in 2023. Still, according to Economic News Daily, citing unnamed Taiwanese manufacturer executives, the plan has been put into overdrive, meaning that we could see the product much earlier than expected. Apple’s Taiwanese supply chain partners, which haven’t been named in the latest report, are expected to mass produce the necessary components by as early as Q2, 2021.

Apple Has Secured 80 Percent of TSMC’s 5nm Production Capacity for 2021

The report does mention that

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Car sales slump to 20-year September low despite new reg plates

Mike Hawes, SMMT chief executive, said: “During a torrid year, the automotive industry has demonstrated incredible resilience, but this is not a recovery. Despite the boost of a new registration plate, new model introductions and attractive offers, this is still the poorest September since the two-plate system was introduced in 1999.

“Unless the pandemic is controlled and economy-wide consumer and business confidence rebuilt, the short-term future looks very challenging indeed.”

However, the decline is not entirely down to motorists reining in their spending, according to trade group the National Franchised Dealers Association.

It said that dealers had experienced “strong” demand with “high levels of enquiries”, but supply problems had held back a number of manufacturers so they had been unable to get cars to buyers.

Sales of cars to private motorists, which represent roughly half of the total, were down 1.1pc in the month, while those to fleet buyers such

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