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The average used car sells in roughly 49 days, 6.1% faster than this time last year, the website reported. “The new car average time-to-sale is down by more than 25 percent even as used cars are ...
2. Porsche 911. Average listing price in June 2023: $162,771 Average listing price in June 2024: $170,057 Percentage increase: 4.5%. Like the 718 Cayman, used Porsche 911s have seen their average ...
While the prices of new cars continue to soar, used cars are actually becoming more affordable. Over the past year, used cars have become 5.8% more affordable on average as prices fell and median...
Established in 1898, the Empire State Motor Wagon Company in Catskill, New York was one of the first American used car lots. [3]The used vehicle market is substantially larger than other large retail sectors, such as the school and office products market (US$206 billion in estimated annual sales) and the home improvement market (US$291 billion in estimated annual sales).
As of 2024, there were just 11.4 million used cars 6 years old or newer available to buy at dealerships — a drop in 4.1 million from the 15.5 million used cars available in 2022.
The paper's findings have since been applied to many other types of markets. However, Akerlof's research focused solely on the market for used cars. Akerlof's paper uses the market for used cars as an example of the problem of quality uncertainty. It concludes that owners of high-quality used cars will not place their cars on the used car market.
Currently, used cars remain pricey. The average used-vehicle listing price was $25,328 in early February, according to research from Cox Automotive. That’s down from the previous couple of years ...
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