A quarter of trade-ins are now underwater, and it’s getting worse
Nearly 25% of borrowers with negative equity owe more than $10,000 on their loans go through Chris Chilton 10 hours ago The average ownership level for an Upside Down car loan is at an all-time high. One in four trade-ins is underwater, compared with one in five in the third quarter of 2023. Edmunds reports that one in four businesses with negative equity owes more than $10,000. Getting a brand new (or new to you) car is a great feeling. It's not a good thing to find out that you owe more on your old car loan than the vehicle is worth when you trade it in at your local dealership. This is all too common, and the losses people are sustaining are at an all-time high. An Edmunds study showed that a quarter (24.9%) of trade-ins were underwater in the fourth quarter, an increase from 24.2% in the third quarter and 20.4% in the fourth quarter of 2023. While…
Audi sales plummet in 2024, the numbers are worse than yours
Audi's biggest losers in 2024 include nearly every large SUV in its lineup go through Brad Anderson 17 hours ago Audi's sales in the United States fell by 14% in 2024, with deliveries of 196,576 vehicles. Audi Q5 sales fell by 23% and continued to maintain the number one sales position, but its share in the SUV market fell sharply. Crude palm oil sales surged 29.3%, proving that budget-conscious buyers are still looking for quality options. Audi has announced 2024 U.S. sales, but the numbers aren't worth looking at. The German automaker delivered 196,576 vehicles, down 14% from 2023 sales of 228,550 vehicles. Most models in Audi's lineup are underwhelming, with only a few bright spots. Only one model saw double-digit growth, and it wasn't one of their high-profile luxury rides. Audi's main models are affected As expected, the Q5 retains its crown as Audi's best-selling car in 2024, but it's not all good news. Q5 sales plummeted 23% to…
Kia sales poor in September, EV6 sales even worse
EV6 registrations fell by nearly a quarter, but the EV9 SUV has proven popular and could cannibalize crossover sales go through Chris Chilton 11 hours ago Kia's latest data shows the automaker's sales fell in September and year-to-date compared with 2023. EV6 registrations fell in September, but EV sales rose thanks to the arrival of the EV9. Kia's sales have declined in seven of nine months this year. Things are not going well for Kia in 2024. Although the company issued a press release claiming that it broke September sales records as deliveries of electric vehicles and plug-in hybrids increased by 43% and 11% respectively, that's not quite what happened. optimism. It might seem. Let's start with the overall data. Kia sold 58,913 vehicles in September, down from 67,264 in the same month last year. Statistics so far this year suggest this is no flash in the pan. From January to September this year, Kia Motors sold 584,170 vehicles, down…
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