Larisa W. Gibson

Used Cars Are Costing Dealers More, but This Can Still Be Your Summer of Deals

  • The wholesale price of used vehicles, the prices generally paid by dealers at auctions, fell steeply when the coronavirus-related shutdowns began, but since then, they have jumped above pre-pandemic forecasts.
  • Nonetheless, the retail price, or the price paid by consumers, of used vehicles has remained fairly flat.
  • The used-vehicle market’s landscape could change greatly in the coming months when a lot of cars with leases extended during the pandemic come back to dealerships, and also if a cash-for-clunkers program comes to fruition.

    While states across the country issued stay-at-home orders to combat the spread of COVID-19, the used-car market shuddered as the flow of used vehicles to dealer lots was disrupted. Wholesale used-car values, or the prices paid by dealers, fell 11.3 percent from March to April, according to the Manheim Used Vehicle Value Index.

    Yet, after hitting a low in April, values have recovered 13.9 percent through mid-June, producing,

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    Polestar Will Build Some Sort of Ride-Hailing Robotaxi with Waymo

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    • Details are noticeably sparse, but the initial announcement says Polestar, the Volvo premium electric brand, will come out with a new EV platform just for ride-hailing vehicles.
    • The automated driving technology is called Waymo Driver, and Waymo has been testing it in vehicles from a number of automakers, including Jaguar Land Rover, Nissan, and Renault.
    • You’ll be shocked to hear this, but Volvo thinks that self-driving vehicles will be safer than today’s human-piloted models.

      Add Polestar to the list of companies that think Waymo has what it takes to bring us to an autonomous-vehicle future. Exactly what that future will look like is a bit vague right now, but we know that Polestar is joining a strategic group partnership

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      Motorsport Network Rolls Out A Rewards Program For The World’s Largest Motorsport And Car Fans Community

      World’s first integrated rewards program that will help fans to get something back from their passion for motorsport and cars

      Motorsport Network, the global leader in digital media and experiences for lovers of cars and motorsport, is delighted to announce the launch of Motorsport Rewards.   

      The rewards program has been custom built for our customers by Motorsport Network’s inhouse technology team so they can earn rewards for doing what they already enjoy, such as reading articles, watching videos, and choosing a race ticketing offer. Once signed into a Motorsport Network platform, customers can earn points towards gift cards, subscriptions, watches, apparel, posters & fine art, sweepstake entries, and digital codes for video games. 

      Every month 56 million users visit Motorsport Network platform from across 81 countries. We help them to feed their passion for racing on Motorsport.com, Motorsport.tv, and Autosport.com as well as Motor1.com and InsideEVs.com in the

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      UK car industry warns 1 in 6 jobs could be lost to coronavirus and Brexit

      Getty Images
      Getty Images

      The UK car industry has called for a financial support package and warned that 1 in 6 jobs could be lost due to coronavirus.

      A third of automotive workers are still furloughed, and more than 6,000 UK automotive job cuts have been announced in June as a result of lockdowns, closed markets and shuttered plants, the SMMT said.

      The trade group is calling on the Government to address this with a support package for the entire sector to help drive demand and ease cashflow.

      Measures including unfettered access to emergency funding, permanent short-time working, business rate holidays, VAT cuts and policies that boost consumer confidence would accelerate a sustainable restart for the market and manufacturing.

      Mike Hawes, SMMT chief executive, said: “UK automotive is fundamentally strong. However, the prolonged shutdown has squeezed liquidity and the pressures are becoming more acute as expenditure resumes before invoices are paid.

      “A

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      How to hunt down a used-car deal from a rental company like Hertz, Enterprise during coronavirus

      As Hertz offers to sell thousands of its cars at steep discounts and millions of Americans face financial uncertainty due to coronavirus, now might be a good time to hunt for bargains from rental car companies. 

      “There are definitely good deals out there,” said Rick Ricart, president of the pre-owned vehicle dealership Ricart Automotive in Ohio. “Rentals are down, and rental car companies might be getting aggressive to cut their losses.”

      But there are also things to look out for. 

      Pouncing on a used-car deal just because you see an alluring price could leave you in a financial bind down the line. And with cases of COVID-19 ticking up, buyers should take extra precautions before taking off in a car previously driven by dozens or even hundreds of other people. 

      ­

      Here’s how to smartly and safely find a used-car deal from a rental company in the age of COVID-19:

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      Inside The Weeknd’s Gorgeous $25 Million LA Mansion and Its Neon-Lit Car Garage

      Click here to read the full article.

      You could call it the ultimate Weeknd getaway. Nestled in the celebrity enclave of Hidden Hills, north of the Los Angeles sprawl, this sleek, farmhouse-style mansion has been home to Canadian music sensation Abel Tesfaye, better known as The Weeknd, for the past three years.

      Tesfaye, 30, who was featured on the cover of Forbes magazine for his estimated 2017 earnings of a staggering $92 million, reportedly paid $18.2 million for the then-new 13,500-square-foot home.

      More from Robb Report

      Set on three lush acres off an ultra-private road, the home is easy to spot on Google Earth for its eye-popping, bright-orange basketball court.

      And at night, you might just spy the bright neon flooding out of the home’s jaw-dropping garage.

      Built to accommodate Tesfaye’s rotating car collection—he’s currently said to own a 618 hp McLaren P1 hypercar, a Lamborghini Aventador SV roadster,

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