News

It’s a great time to buy a used car. No, it’s a terrible time to buy a used car. Maybe.Used-car prices started coming down from their pandemic-inspired highs in the latter half of 2022, then started climbing again in January 2023.We can’t tell you when the best time to buy is, but we can understand how lower prices pushed up demand and how that’s pushing up prices again. Where things go from here is unclear, sadly.Used-car prices are fluctuating, jumping up in January after substantial drops over the course of 2022. Used cars were hot (read: expensive) throughout the pandemic, but things seemed to have calmed down last year. It’s difficult to know what’s around the corner, but at least we can make some sense of the past.Used-Car Business Feeling a Hangover?Just 10 days ago, the New York Times wrote that the pandemic’s used-car boom, along with the associated higher prices, is “coming to an abrupt end” as the used-car business suffers a “brutal hangover.” According to the Times, “Americans, especially people on tight budgets, are buying fewer cars as interest rates rise and fears of a recession grow. And improved auto production has eased the shortage of new vehicles. As a result, sales and prices of used cars are falling and the dealers that specialize in them are hurting.”Arm Yourself with Some Knowledge December was the sixth consecutive month for used-car price drops, according to the consumer finance site Nerdwallet, which wrote about the decline in used-car prices in recent months. In fact, December was the sixth consecutive month for used-car price drops, and 2022 ended with used-car prices 8.8 percent lower than they were at the start of the year. That’s the largest annual decrease in used-car prices since June 2009, the last month of the Great Recession, Nerdwallet said.The direction of the trend changed in January, when wholesale used-vehicle prices went up 2.5 percent (1.5 percent without making seasonal price adjustments) compared to December, according to Manheim Consulting. Manheim issues a monthly Used Vehicle Value Index and regular Manheim Market Reports, and that kind of regular insight allows the group to note that the January price increases “were not typical” and ended up pushing the index value of three-year-old cars up 1.2 percent over the last four weeks. In most years, January values reported by the Manheim Market Reports “are typically little changed,” Manheim wrote.Used Cars Are Moving Faster off LotsThe daily sales conversion rate in January was also “above normal for the time of year,” at 59.4 percent. Pre-pandemic, in January 2019, the daily sales conversion rate averaged 57.7 percent. Manheim takes that as meaning “Sellers [have] more pricing power than what is typically seen for this time of year.” You can see strong customer demand in other numbers, too, with Manheim estimating that used retail sales were up 16 percent in January compared to December and up 5 percent year over year. Used cars are spending less time on dealer lots, too, with January’s overall average being just 44 days, compared to 56 in December and 60 in January 2022.So, what’s going on here? The ups and downs might have a straightforward cause. CNBC suggests that all we are seeing here is a simple game of supply-and-demand example that allows both of the reports to be true. The Times correctly notes that demand slowed in January, and that then pushed used-car prices down. These lower prices created fresh demand for used vehicles which “led to the largest increase in wholesale values since late 2021,” CNBC writes. And that opens up interesting questions about where things go next.This content is imported from poll. You may be able to find the same content in another format, or you may be able to find more information, at their web site.More Used Car Knowledge More

This content is imported from youTube. You may be able to find the same content in another format, or you may be able to find more information, at their web site.The first trailer for Fast X, the 10th film in the Fast & Furious trailer, is finally out. The movie looks even more ridiculous and over the top than we ever expected. Fast X is part one of a two-part movie series depicting the finale of the Fast franchise. Vin Diesel, Michelle Rodriguez, Tyrese Gibson, John Cena, Jason Statham, and Ludacris return in starring roles, while Aquaman star Jason Momoa makes his first appearance in the Fast series as the main villain, Dante. Other newcomer actors include Brie Larson and Rita Moreno. “I’ve been so blessed to be part of this family,” Diesel said to an audience at the trailer premiere on Thursday night. “You truly are, and I mean this from my soul, the best fans any film could ever dream of. You allowed us to be your family. I can’t wait for you to see this.”To no one’s surprise, the Fast X trailer is packed with family and fast cars. The plot, seemingly based on the events that took place in Fast Five, shows villain Dante attempting to break apart Dom’s family, going as far as to kidnap his child. There are numerous action and fight sequences, with plenty of shots of Diesel driving Dodge Chargers. Fast X opens in theaters on May 19, 2023. More

Hyundai has launched a one-price app-based subscription service called Evolve+ EV, which includes insurance, roadside assistance, and maintenance. At launch, the available vehicle choices are the Kona Electric and the Ioniq 5, and the service is only available in seven cities across six states. Subscriptions for the Kona Electric start at $699 per month, with subscriptions for the Ioniq 5 starting at $899 per month. Hyundai is jumping into the vehicle-by-subscription game, with the announcement of its new Evolve+ EV service. At launch the service is pretty limited in scope. The Kona Electric and Ioniq 5 are the only vehicles available to subscribers. The Kona starts at $699 per month, while the Ioniq costs $899 per month. Hyundai says Evolve+ is better than vehicle subscriptions offered by other manufacturers because subscribers can cancel at any time during the service, and there are no commitments beyond month-to-month payments. All the Details and SpecsThat monthly price is intended to be all-encompassing, so it also includes registration, insurance, roadside assistance, and maintenance costs. Hyundai is launching the program in an effort to attract what it describes as the “EV-Curious” audience. The manufacturer hopes that by offering what it feels is a lower barrier of entry for potential EV shoppers, it will be able to increase EV adoption and awareness. Each monthly term is considered 28 days and allows for 1000 miles. Going over that 1000-mile limit results in an additional charge of $20 per 100 miles until the 1500-mile mark; after that, things get expensive at $1 per mile. Any miles under the limit will be rolled over if you resubscribe to the service. There’s an App for ThatJust like everything else these days, there’s an app for the service. Subscribers can go in the app, find a car, and pay online. No pesky human interactions needed until you pick up and drop off the car at your local dealer. In order to be eligible for Evolve+, drivers need to be at least 25 years old, have at least three years of clean driving, and hold a credit score of 650 or higher. We’re pretty big fans of the Hyundai Ioniq 5 around here. You may actually remember that we named it our EV of the Year for 2022. Hyundai used a $47,125 Ioniq 5 as a cost comparison example, estimating monthy purchase payments of $850 based on six-year financing for a customer with solid credit. Monthly payments on a three-year lease come out to closer to $600, though neither the lease nor purchase prices factor insurance and maintenance in. This content is imported from poll. You may be able to find the same content in another format, or you may be able to find more information, at their web site. More

• AMG appears to be unwinding its relationship with Aston Martin.• The British brand could be scooped up by Geely.• U.S. EV startup Lucid might be the best pairing of all.Aston Martin’s friends-with-benefits relationship with AMG is coming undone. Former AMG chief Tobias Moers was pushed out as Aston CEO last year, and the makeshift R&D satellite he set up around the corner from AMG in Affalterbach was shuttered before it could even begin operation. The British brand still uses AMG engines and Benz’s previous-gen infotainment systems. And Mercedes will honor all contracts and provide Aston with know-how and parts until the last of Aston’s current gas-powered models bites the dust in 2026 or 2027. However, according to several sources, Aston’s planned all-new EV lineup, which was to see replacements for Vantage, DB11, DBS, and DBX in the 2026-2029 timeframe, will no longer use the Mercedes AMG 59X matrix. Quips a German insider: “AMG and Pagani—that’s true friendship. AMG and Aston is merely a business case with a fixed expiration date.”More on Aston MartinWhile it is possible for Aston to extend the life cycle of its current portfolio, the marque is increasingly desperate for pace-setting fresh metal. Topping the list is a striking all-new EV coupe/convertible aimed squarely at the 2026 Ferrari F8 Tributo/Roma replacement. Executive chairman Lawrence Stroll, the Canadian billionaire who led a consortium to take a controlling stake in Aston Martin in 2020, slotted in former Ferrari CEO Amedeo Felisa to replace Moers. The chief sales and marketing manager Marco Matteacci, the CTO Roberto Fedeli, and other Italian high-flyers have been recruited from the deep Ferrari/Lamborghini/Maserati talent pool, but it’s increasingly clear that talent isn’t enough. Aston needs a strategic partner. Aston Martin DBX.Aston MartinGeely Getting Interested?After Stroll’s group, and Mercedes-Benz, the next biggest shareholder in Aston Martin is Geely’s Li Shifu. The acquisitive Geely chief is reportedly interested in adding Aston Martin to his mixed bag of brands, which includes Volvo, Polestar, and Lotus. The Anglophile Shifu is a true Aston aficionado who allegedly developed a habit of giving his daughter a bespoke English sports car as a birthday present. To obtain control of Aston Martin, the Chinese tycoon could either take advantage of the British concern’s modest market cap of $1.2 billion and engineer a straightforward buyout or attempt a friendly takeover with potentially significant two-way synergy effects for Aston, Lotus, and potentially some of his Chinese brands. Lucid Could Be a Win-WinSo far, though, Stroll has ignored Geely’s courtship. Instead, Stroll has started flirting with the Saudi Arabian government fund PIF. The Saudis are in the position to offer fresh money as well as a tech partnership with Lucid Motors, in which they own a 60.5 percent controlling interest. Stroll has also recently started talking again directly to Lucid’s Peter Rawlinson and Eric Bach. Why Lucid? Because cooperating with the U.S. EV startup may well lead to a win-win scenario. The original idea conceived in late 2021 was for Lucid to cover vehicles up to $200,000, while Aston would cater to the $225,000-plus clientele including the supercar/hypercar segment. At the same time, the Americans would terminate their own patchy and underfinanced distribution scheme and join forces with the 134 established Aston dealers. Lucid Air.LucidAston’s traditional fortes include lightweight architectures, head-turning design, and industry-leading personalization. The major strengths of Lucid are electrification and digitalization. But as far as bending sheetmetal, putting the pieces together, and turning it into something that drives rather well and lasts, Aston has a clear edge over the startup. So, in an odd way, these two unlikely partners could actually be a good match. In an ideal world, both brands should benefit from and motivate each other. Imagine the Lucid Air 2.0 spawning an Aston Martin Lagonda, or the Lucid Gravity SUV sharing its genes with the next-gen DBX. Already, Aston allegedly agreed in late January to buy electric motors from Lucid (and, pointedly, not Mercedes). This scenario is still overshadowed, however, by Aston’s heavy debt burden and Lucid’s rapid cash burn rate, to name only two complicating factors. More

Powered by a hybridized inline-six, this latest Mercedes is the first Maybach-badged car that can be plugged in.This Maybach is essentially a more luxurious version of the Mercedes S-Class, and it builds on the S580e’s well-tuned powertrain with added length and luxury.So far this car is only earmarked for Asia and Europe, and we’re not sure it will reach the U.S.Seven years after showing off the all-electric Mercedes-Maybach Vision 6 at the 2016 Pebble Beach Concours d’Elegance, the ultra-luxury division is only now launching its first plug-in-hybrid production model. That model, the just-introduced S580e, will be rolled out in a conservative fashion, first made available in China, then Thailand, then Europe. Electrification is coming to Mercedes-Maybach, but with the slow deliberation of one of the World War I dirigibles that the company’s engines once powered.Those engines were inline-sixes and, in a nice echo, such is the case here. The Mercedes-Maybach S580e is closely related to the standard S-class plug-in hybrid. A 3.0-liter turbocharged straight-six engine provides 367 horsepower and is paired with a 150-hp electric motor. Total system output is 510 horsepower along with 553 pound-feet of torque, and nearly 60 percent of that twist is available with the light-switch response of the electric motor.Mercedes-AMGShould you wish to splatter rear-seat occupants with caviar and champagne, this new Mercedes-Maybach will sprint to highway speeds with most of the same vigor as its V-8– and V-12–powered cousins. But that sort of disrespectful behavior will get you in trouble, or, given the power wielded by the sort of people who can afford a Maybach, perhaps fired.No, a Mercedes-Maybach is for serene, airship-like gliding, which the S580e promises to do par excellence. For one thing, with all due respect to rapper Rick Ross, true Maybach music is measured in near silence. A V-8–powered Maybach murmurs at just 64 decibels of in-cabin noise at 70 mph. Capable of running purely on electrons, the S580e will be even more discreet.On a full charge, Mercedes says the Maybach S580e will run to a top speed of just under 87 mph on battery power and have a maximum range of 62 miles (per the optimistic global WLTP standard, at least). Versus a normal S-class, the Maybach variant is some seven inches longer for greater rear-seat room and can be optioned with all sorts of opulent goodies, including a rear-seat refrigerator and branded champagne glasses.Fuel economy is probably of little concern to the average Mercedes-Maybach customer, who likely has a private jet to fill up, but CO2 ratings are. The S580e treads lightly in terms of localized pollution and is thus ideal for low-emissions urban areas such as London’s expanding Ultra-Low Emissions Zone (ULEZ).Before you’ll see a Mercedes-Maybach S580e there, the cars will arrive in China, where more than half of worldwide Maybach production ends up. In 2022, China snapped up some 1100 Mercedes-Maybachs every month.Having fumbled the previous Maybach relaunch with the ill-fated 57 and 62 of the early 2000s, Mercedes is playing the long game here. It might seem overcautious compared to the way EVs are being pushed into the mainstream globally, but note that 2022 marks the second year of record sales growth for the division. A dirigible does not turn quickly, but it doesn’t need to. More