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John Goreham Contributing Writer, GM-Trucks.com 6-10-2019 If you are searching for a great value on a lightly used vehicle, iSeeCars.com has some suggestions. The group evaluated about 5 million used car transactions of three-year-old, 2016 MY vehicles to see which had the highest discount off of their new car price. Many GM models make the list. Here's a quick look at the models with the highest depreciation. Graduates take note: In the under $20K category, the Chevy Impala is hard to ignore. With a three-year-old average price of just $14,745 it is a LOT of car for the money. Its 50% depreciation rate over three years is way ahead of the average of about 34%. Those graduates headed into higher-paying new jobs may want to consider the Cadillac CTS. With an average price of just $26,785, it is a luxury car on a budget. The XTS is about the same price, but not eactly a graduate's dream car. However, it is perfect for those looking for an Uber vehicle or airport limo for their fleet. The $26K Buick Enclave also makes iSeeCars family vehicle list. With a depreciation of 48% it is about 10% ahead of the pack. In the truck category, the best deal may be the GMC Sierra. With an average 3-year-old price of $33K it is a value that is hard to ignore. See the full report from iSeeCars here.
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John Goreham Contributing Writer, GM-Trucks.com 4-9-2019 iSeeCars.com has completed a study this month of which vehicles owners most often sell on within one year of buying them new. iSeeCars.com analyzed more than 46 million individual new vehicle sales and determined how many of those new cars, trucks, and SUVs were resold as used within the first year with at least 1000 miles on the odometer. The average for all vehicles is just 3.4%. However, some trucks are sold on at more than twice that rate. Among the trucks that owners want to get rid of most are Nissan trucks. All three of Nissan's truck offerings top the list of those owners sell most often within one year of ownership. iSeeCars CEO Phong Ly offered his opinion as to why the Nissans stand out in this regard. “The standard full-size Titan and its larger XD variant do not measure up to their rivals in terms of towing capacity and hauling, which suggests that owners might turn them in for something more rugged,” said Ly. “The compact Frontier has the same shortcomings for hauling and towing while also having the worst fuel economy in its class.” What say you GM-Trucks.com faithful? Why do the Nissans seem to be the outliers here? To see the full report click here.
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John Goreham Contributing Writer, GM-Trucks.com 3-4-2019 Our friends at iSeeCars have updated a study for 2019 that looks at what brands and models are the longest-lasting. One way to gauge how long a given brand of model lasts is to look at how many of them travel more than 200,000 miles. “With the right maintenance and care, today’s vehicles have the potential to reach 200,000 miles,” said iSeeCars CEO Phong Ly. “While large SUVs and pickup trucks appear most often on the list, those looking for sedans and minivans can also find a vehicle that is proven to be a high-mileage hauler.” To build its rankings, iSeeCars analyzed over 13.8 million cars sold in 2018 to determine which models have the highest percentage of cars that reached 200,000 miles. The study found that the top 14 models identified each have at least 2.2 percent (almost three times the overall average) of their vehicles reach that mileage. The top models include a mix of vehicle types with nine SUVs including a hybrid, three pickup trucks, a sedan, and a minivan. The study found that GMC and Chevy are well above average and are ranked third and fourth overall. As in other studies we have seen recently, Cadillac did not score well, and finished well below average with the same score as Jeep and Chrysler. In the model breakouts, the Chevy Silverado scored ahead of the GMC Sierra. The pickup category was interesting. The Chevrolet Silverado 1500 full-size pickup ranked fourth overall in pickups, while its mechanically silimar GMC Sierra 1500 ranks seventh and below the segment average. “The Chevrolet Silverado is considered to be more of a working truck, while the GMC Sierra markets itself as being more luxurious,” said Phong Ly, CEO of iSeeCars. “As a result, the Silverado may log more miles since it’s more likely to be used for work purposes.”
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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.
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John 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.
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John 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.
