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John Goreham Contributing Writer, GM-Trucks.com 12-5-2018 The hard-working research team over at iSeeCars has completed a new study. This new one doesn't use the easiest to understand metrics, but the conclusion is pretty clear. Among all vehicles being promoted by manufacturers this holiday season, trucks are among those with the lowest incentives. What the group looked for this time were models that had the highest number of advertised deals that took 5% or more off of the sale price of the vehicle. In other words, how many deals are out there, not necessarily the best deal with the single most savings. Many deals are regional and iSeeCars included used cars in this analysis of over 2.4 million sales transactions. The average percentage of listings that offer a deal that takes 5% or more off the price of a vehicle this time of year is 40.5%. That means about 4 out of ten vehicles are already being discounted before a shopper arrives. iSeeCars looked at how a given model varied from that average. In other words, is a model more or less likely to be a model with a deal. The top model for deals is the outgoing BMW 3 Series. The lucky auto writers who cover that model are on planes as we type this story headed to the new 3 Series launch. BMW and used car dealers is trying to get rid of the older series ahead of the new. The Mercedes E-Class and the Audi A4 are also being heavily advertised with deals. “The growth in popularity of auto leases in recent years has led to an influx of these often-leased luxury vehicles in the used car marketplace after their lease terms end,” said Phong Ly XCEO of iSeeCars. Among all types of vehicles, trucks have the least number of deals. The Silverado is among the vehicles with the lowest number of deals overall. If you think about the state of the truck market now, this seems to make sense. The Ram, Silverado, and Sierra are all new for this season. The full study can be found here.
Gorehamj posted a topic in The NewsroomJohn Goreham Contributing Writer, GM-Trucks.com 9-10-2018 The research team at iSeeCars.com has determined which used truck sells the fastest, and which sells the slowest on used vehicle lots. Neither is a GM product. The group looked at the sales data for over 4 million used vehicles to make its determination. The overall average number of days a pickup sits on a used car lot is about 51 days. Cars and SUVs tend to move a bit quicker, around 47 days on average. Every GM product is a bit slower than the average, but not an outlier. The Nissan Titan is the dog in this group. The Honda Ridgeline is the fastest-selling. iSeeCars CEO Phong Ly, says the reason may be that the Ridgeline “..ceased production between 2014 and 2017, so there aren’t as many in the used car marketplace, which drives up demand.” Ly says the Titan has a poor reliability record, which may help explain its longer than usual stay on dealer lots.
Gorehamj posted a topic in The NewsroomJohn Goreham Contributing Writer, GM-Trucks.com 7-12-2017 The 2014 Chevy Malibu sedan and Equinox crossover are near the top of the list of popular high-depreciation cars in a study done by iSeeCars.com. The Malibu's depreciation is 1.23-times greater than the average for vehicles in general. The study finds that the average price of a 2014 Malibu is just $14,622, reflecting a 43% depreciation over just three years. The Equinox is not far behind the Malibu with an average price of just $17,200, reflecting a 41% depreciation over three years. These are cars still under the original GM warranty. Even more incredible is the deal that shoppers of used Cadillac CTS sedans should expect. After just three years, the CTS is worth less than half its original value. iSeeCars pegs the average 2014 CTS price at just $27,537. That is a whopping 52% depreciation rate reflecting a depreciation that is about one and a half times that of the average vehicle. Silverado and Sierra both hold their value better than the industry average. After three years, they have depreciated roughly 29% compared to the average of about 35%. See the full study at this link.