"Return to Normal" Monthly Index Reports

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2023 Brings Little Relief for Car Shoppers

2023 Brings Little Relief for Car Shoppers Used car prices fell by less than 2% year-over-year, while new car prices increased by 1% Most vehicle brands and segments saw only modest price declines across the year Amid waning consumer demand, EVs are the only segment that fell significantly in price, down 22% overall Chicago, IL – December 11, 2023 – 2023 saw little movement from car prices that soared to record highs amid the pandemic, according to data from AI car shopping app CoPilot.

4 Charts That Show How Interest Rates Impact Used Car Affordability

4 Charts That Show How Interest Rates Impact Used Car Affordability Published December 2023 Interest rates play a crucial role in shaping the true cost of a used car. The more expensive the car, and the higher the rate, the more expensive the monthly payment will be. But by how much? CoPilot analyzed national pricing data to uncover the impact of interest rates on used car affordability. There are a number of factors that influence your vehicle’s monthly payments, total purchase price, and overall ownership costs.

After More Than a Year of Unprecedented Price Inflation, Used Car Market Beginning Its Road Back to Normal

After More Than a Year of Unprecedented Price Inflation, Used Car Market Beginning Its Road Back to Normal With consumers tired of paying record-high premiums for used cars, new CoPilot index tracks the road back to normal prices Chicago, IL – June 6, 2022 – While used car prices showed modest declines in early 2022, overall prices remain near all-time highs, at an average of $31,450, according to a new monthly report from CoPilot, the leading car shopping app.

As Consumer Interest Falters, Dealers Struggle to Move EV Inventory Off Lots

As Consumer Interest Falters, Dealers Struggle to Move EV Inventory Off Lots While the UAW strikes did not impact overall car prices, they created additional roadblocks for traditional automakers’ burgeoning electric pushes Though both new and used car prices continue to fall, they remain more expensive than they were at the start of 2023 Chicago, IL – November 20, 2023 – The UAW strikes have created yet another obstacle for traditional automakers as they struggle to compete with Tesla’s dominant market share in the EV market, according to new data and analysis from leading AI car shopping app CoPilot.

Average Used Vehicle Age Over Time

Average Used Vehicle Age Over Time October 2023 The average age of a newly purchased used vehicle has been climbing over the past few years. The average used car purchased in 2023 peaked at 5.76 years old. That’s over a year older on average compared to just 4.65 years old in 2019!

Before You Buy – Used Car Shopping Tips & Tricks with Robert and Jeff // CoPilot for Cars Podcast

Before You Buy — Used Car Shopping Tips & Tricks with Robert and Jeff CoPilot for Cars Podcast December 16, 2022 Looking to buy a used car soon? Don’t make a purchase before listening to these used car shopping tips & tricks! Used car terminology, tips & tricks with CoPilot’s car expert, Jeff. He explains what to look for when shopping for a used car, what different phrases indicate, and how to make sure you get the most bang for your buck.

Best & Worst Value Retention: By Brand and Model

Best & Worst Value Retention: By Brand and Model These value retention charts show the difference between a car’s average original MSRP and current average used listing prices after 5 years. This highlights how well the original value was retained over a period of 5 years for each model brand. The charts are organized by segment or class, highlighting the best and worst models and brands in each category.

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