Kontos Sees Off-Rental Affecting Used <b>Car Prices</b> Along with Off <b>...</b> |
| Kontos Sees Off-Rental Affecting Used <b>Car Prices</b> Along with Off <b>...</b> Posted: 16 Apr 2014 09:07 PM PDT
Tom Kontos ADESA Analytical Services' monthly analysis of wholesale used car prices saw the average climb 6% over February and 4% over March 2013. That passed seasonal and year-ago levels. Off-rental units were in great supply a year ago; delayed off-rental supply created higher off-rental prices and played a role in raising wholesale prices. Retail used vehicle sales also played a significant part with a strong rebound in March. That came after being depressed in previous two months by severe weather conditions. Here's the latest Kontos Kommentary market report Off-rental Volume Should Come Back after Harsh Winter and Late Easter: All Segments Except for Minivans Had Month-Over-Month Increases in March: Dealer Consignors Had 7.5% Price Increase vs. February, and a 4.5% Over March 2013: 2014 Automotive Information Network, Inc. All Rights Reserved.  |
| Fluctuating Gas <b>Prices</b> Can't Dent Americans' Love Affair With Their <b>...</b> Posted: 23 Apr 2014 12:08 PM PDT The national average price for a gallon of unleaded regular gasoline may be $0.15 higher than this time last year, but the fact that gasoline prices in general are trending lower has kept American drivers from reducing their time on the road, according to the American Automobile Association. AAA reported that the national average price for a gallon of regular unleaded gasoline right now is $3.67, which is a nickel higher than last week's price and $0.15 higher year-on-year. In general, however, gasoline prices are down compared with previous years. The average price at this time in 2012 was $3.92 per gallon. Michael Green, a spokesman for AAA, told Oilprice.com that fewer US drivers are letting fluctuations in gasoline prices affect their driving habits. Green said gasoline demand increased in 2013 by 1.1%, the highest annual increase in more than five years. This translated to an estimated 18.1 billion miles traveled on American roadways last year. "One possible explanation is that Americans are less concerned about gas [prices], given that prices generally have been less expensive than in previous years," he said. "If this is true, it is possible we might yet again see increased demand [for gas] even with improvements in fuel economy this year." A report from the University of Michigan's Transportation Research Institute found the fuel economy for model year 2013 was 24.7 mpg, an improvement of 5% since 2012. But the higher price tag of fuel-efficient vehicles puts them out of reach of most American drivers, Green said. In March, AAA found that about half of the people it questioned said they were changing their driving habits or lifestyle in general in an effort to curb gasoline use. Related Article: US Gas Prices Rise, but Not Because of Global Factors That's down from a similar AAA survey from one year ago, which found that more than 60% of US drivers were trying to use less gasoline, even though the national average price had gone down year-on-year. In general, most drivers in the United States say $3.50 per gallon is too much to pay for gasoline, according to AAA. Attitudes vary by region, however; someone in California who's used to paying $4 per gallon may feel relief if the price drops to $3.50, which someone in South Carolina may see as extreme. Green said there's no single price point that triggers a change in consumer behavior. And while most drivers are willing to make changes in things like how often they use the car to run errands or take trips, when it comes to work commutes, Green said less than 50% of people surveyed say they would be willing to carpool, and only 15% would consider leaving their cars behind in favor of public transportation. This article was written by Daniel Graeber of Oilprice.com. No positions in stocks mentioned. The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice. Copyright 2011 Minyanville Media, Inc. All Rights Reserved. |
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