US Business News

Used-Car Prices Remain High, Even With Recent Fall

Image Commercially Licensed From: Unsplash

By: Joe Mcdermott is a journalist, reporter and writer for SEARCHEN NETWORKS®

The American consumer is feeling the pinch. In the wake of pernicious supply chain issues caused by the COVID-19 pandemic, the cost of personal transport soared, redefining what bang-for-buck really means in the automobile industry. Even with the recent fall in wholesale prices of used cars and trucks for sale, the market is still leagues away from the comfortable norms that were once the status quo.

As per ADESA Auctions’ latest monthly report, the average wholesale price of a used vehicle dropped to $14,012 by November 2023, marking a 4.6 percent year-on-year decrease. However, it is vital to recognize the broader picture, which remains somewhat bleak. When juxtaposed with the November 2019 data, current prices are still a substantial 26.5 percent higher, which equates to a price difference of $2,938.

ADESA’s data serves as a timeline into the past few tumultuous years. Average wholesale prices for used vehicles sky-rocketed past the $16,000 threshold for the first time in September 2021, then reached an all-time high in May 2022, at a staggering $17,843.

“We can attribute the current downward curve to customary seasonal trends,” said Tom Kontos, Chief Economist for ADESA Auctions. “On average, car prices take a dip in winter and begin climbing up once spring ushers in the full driving season.”

This pattern proves consistent with what we are witnessing today. As November rolled into December 2023, we saw wholesale used vehicle prices taking a second consecutive monthly dip. Kontos notes, “This is rather typical for the end-of-year holiday season. Dealers seem well-stocked and prepared for the predicted soft retail demand.”

However, the high pricing is not the only obstacle impeding vehicle purchases. High-interest rates on auto loans compound the financial pain for consumers seeking to buy vehicles, new or used, contributing directly to a sluggish demand.

Faced with inflated auction prices, dealerships have started to seek alternative, economical means to attain used cars. Instead of going for the conventional auctions, more dealers are now exploring trade-ins or private sales to fulfill their inventory requirements.

The persistence of high prices may prove a double-edged sword, increasing profits individually and yet decreasing total sales volume. In this time of inflated costs and pronounced uncertainty, thrift and resourcefulness become key in satisfying the needs of both dealer and consumer. Success will favor those who can deliver quality products at prices accessible to the average American.

While these astronomical purchase prices continue to strain consumers, they signal the industry’s resilience amidst the ebb and flow of unprecedented global disruptions. The return to pre-pandemic price levels will inevitably be slow, and the road to recovery will likely remain bumpy. But these minor decreases offer a moment of reprieve and, perhaps, a sign of hopeful stabilization; a positive nod towards a future where both dealers and consumers can once again meet at an affordable price point.

As the auto market navigates the stormy waters of high prices and economic uncertainty, Auto Buyers Market remains a committed guide, empowering customers with the most recent and relevant information. To stay informed about the latest trends in the automobile industry, visit the Auto Buyers Market news

The Rise of Non-Combustible Aluminium in Modern Property Design

By: Alteria

In the fast-paced world of real estate, the intersection of safety and innovation is crucial. The advent of non-combustible aluminium cladding products, such as those offered by various manufacturers including Alteria, has marked a significant shift in modern property design. These products balance cutting-edge aesthetics with strict safety protocols, addressing the growing demand for materials that enhance visual appeal while adhering to fire safety standards. This article seeks to examine the broad impact of non-combustible aluminium in construction, emphasising how it is reshaping norms in both residential and commercial building design through a blend of beauty and durability.

The Need for Non-Combustible Materials in Construction

The increasing focus on fire safety in the construction industry highlights the essential need for non-combustible materials. Driven by past incidents and evolving safety standards, there’s been a decisive move towards materials that substantially mitigate fire risks. Products like Aluminium 6060 T5 Alloy, offered by various companies including Alteria, are leading this change. They provide robust, fire-safe solutions that meet and often surpass the requirements of the Building Code of Australia. The shift towards these materials goes beyond regulatory compliance, reflecting a deeper ethical commitment to the safety and well-being of occupants. This ethos is becoming a cornerstone of modern construction practices, ensuring safety is a fundamental aspect of building design from inception to completion. When discussing the crucial topic of fire safety in building construction, it’s imperative to highlight the Australian fire safety standards for cladding materials. Recent incidents in Australia and around the world have underscored the necessity for using safe, non-combustible building products, especially for building facades. According to the National Construction Code (NCC), materials used on external walls of Type A and Type B buildings must be non-combustible or meet specific non-combustibility requirements. Products like Fire Safe Cladding’s Longboard, which have passed rigorous testing under Australian Standards AS 1530.1 and AS 1530.3 and are certified by CSIRO, offer a compliant solution. Made from solid aluminium with a non-combustible PowderShield™ finish, these products are ideal for ensuring fire safety in various Australian buildings, meeting the strict NCC requirements for non-combustible materials

The Australian Standards AS 1530.1 and AS 1530.3 play a pivotal role in ensuring the fire safety of building materials. AS 1530.1 focuses on assessing the combustibility of materials by exposing them to a heat source to determine their likelihood to combust. On the other hand, AS 1530.3 tests whether building products will ignite, produce excessive smoke or heat, or spread flames. The CSIRO, a leading scientific and industrial research organization, provides certification for these standards, ensuring that materials like cladding meet rigorous safety criteria. This certification is crucial for compliance with the National Construction Code in Australia, guaranteeing the highest level of fire safety in building construction.

Impact on Modern Architecture

The introduction of non-combustible aluminium products is revolutionizing the architectural world. These materials synergize safety functionality with artistic freedom, empowering architects and designers to venture into new design territories without sacrificing safety. The unique flexibility of these products, including those from Alteria and other manufacturers, facilitates unprecedented customization. The array of available finishes, from elegant premium powder coats to rustic wood-look options, broadens the spectrum of aesthetic choices. This versatility enables designers to create facades that are not only striking and individualistic but also align with modern design trends, ensuring each building is both safe and visually engaging.