Skip to main content

Daily News Briefs: July 20, 2012

192779435 1425510317988 jpeg

Are used-car prices seeing some relief? We reported last May they would likely stay elevated for years to come — the result of fewer new-car sales during the recession — but prices for compact and midsize used cars fell around $650 apiece in June compared with last summer, the Detroit News reports. That represents drops of 8.5% and 7.8% for those segments, respectively. But prices for SUVs and full-size trucks climbed 7% and 2%, respectively. Overall used-car prices are down compared with last summer’s peaks but remain higher than before the recession. The National Automobile Dealers Association forecasts a 2% uptick across all used-car prices this fall, but segments like luxury vehicles may see higher increases, the Detroit News reports. New-car prices remain inflated, but if automakers return to heavier incentives, the smaller difference between a used car versus a discounted new car could send more shoppers toward the latter.

In other news:

  • As a strong yen hurts profits from Japan-exported vehicles, Nissan is looking to export the Rogue SUV to the U.S. from a Renault facility in South Korea, Reuters reports. French automaker Renault has allied with Nissan since 1999, and the Rogue, whose redesign is just around the corner, comes from Japan.
  • An arbitrator ruled against the United Auto Workers in their grievance against Ford as the Detroit-area automaker reinstated bonuses for salaried employees but kept union salaries at current levels, Automotive News reports.

More Industry News
Search for Used Cars Near You
More Automotive News

Photo of Kelsey Mays
Former Assistant Managing Editor-News Kelsey Mays likes quality, reliability, safety and practicality. But he also likes a fair price. Email Kelsey Mays

Featured stories

202406 inductive road charging scaled jpg
mazda cx 70 phev 2025 01 exterior front angle white scaled jpg
acura mdx 2025 01 cg exterior front angle jpg