Used-car prices can be easing for the primary time in six months. Automotive News reports that Atlanta-based Manheim's benchmark Used Vehicle Value Index fell to 126.1 last month, ending six months of increases. Used-car prices spiked within the wake of fewer new-car sales in the course of the recession, so April's figures may be a sign they're beginning to recede, that's something analysts predicted could happen in May or June. CNW Marketing Research said last month that the common used car sold for $10,971 at a franchised dealership - down just $80 from a year ago. It's the 1st time in four months the figure has dropped. This can be welcome news for used-car shoppers, but time will tell if this signals real relief or simply a spring thaw.
In other news:
- The Detroit News reports GOP presidential candidate Mitt Romney took credit yesterday for big parts of the 2008 auto industry bailout, which he opposed on the time. Democrats cried foul.
- Demand for four-bangers is flying: Toyota announced it should increase manufacturing capacity by 100,000 for four-cylinder engines inside the Camry and Camry Hybrid.
- Bloomberg News reports car-accident fatalities fell for the sixth straight year, dropping 1.7% to 32,310 in 2011 - for sure coinciding with Americans driving 1.2% fewer miles that year.
- A new survey from Consumer Reports shows young drivers know the dangers of using a cellphone when behind the wheel, but many still do it.
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From WhatNewsToday.net
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