August 2020

Used vehicle prices on the rise according to Edmunds

(August 6, 2020) SANTA MONICA, Calif. — Used vehicle prices are seeing an unseasonal sharp uptick due to unique market conditions created by the coronavirus (COVID-19) pandemic, according to the car shopping experts at Edmunds. Edmunds data reveals that the average listing price for all used vehicles climbed to $21,558 in July, marking a $708 increase compared to June. Edmunds experts note that this is an unprecedented historical shift in the used vehicle market, where listing prices typically decrease during this time period due to depreciation.

Kelley: Average new-vehicle prices up 2% year-over-year in July

(August 4, 2020) IRVINE, Calif. — The valuation analysts at Kelley Blue Book have reported the estimated average transaction price for a light vehicle in the United States was $38,378 in July. New-vehicle prices increased $749 (up 2%) from July 2019, while decreasing $473 (down 1.2%) from last month.  
"While up from last year, new-car transaction prices are finally starting to dip from last month," said Steve Lind, vice president of operations for Kelley Blue Book.

Gas prices hold steady around the country

(August 4, 2020) On the week, the national gas price average held steady at $2.18 as the majority of state averages saw minimal impact at the pump. With the exception of a few outliers —  Florida (+10 cents), Utah (+10 cents) and Idaho (+5 cents) — state averages either decreased by four cents or less or increased by no more than two pennies, according to statistics compiled by AAA. 

BMW expands 2-Series portfolio with launch of M235i Gran Coupe

By Paul Borden

(August 3, 2020) Here we go again. If memory serves, which it doesn’t always, Mercedes-Benz was the first to muddy the coupe-sedan waters when it introduced the idea of a four-door coupe a few years ago. Until then, it had been pretty accepted that a sedan had four doors, a coupe two. Now BMW has jumped in with a version of its 2-Series coupes with a powerful four-door model it dubs a “Gran Coupe.”