Up is down, black is white, and new cars cost consumers less than used cars. With dealers willing to take huge discounts to sell a car and automakers offering staggering incentives, the cost of new cars has remained low. With interest rates up on used cars and demand increasing, the cost of a used car has increased.
According to Cars.com data, consumer searches for certified used vehicles in February are up 24% year-to-date. The site also says it delivered a record number of leads to dealers that month despite declines in overall certified sales. Analysts say this trend may serve as an indicator of future sales, not just current market conditions.
Penske Truck Leasing has launched a revamped GoPenske.com. The website will be the online focal point for many of the company's operations. Many suppliers helped with the overhaul, which is the site's first since 2005.
An experimental polyurethane film coating contains a small amount of chitosan which pulls together across a scratch to self-heal when exposed to ultra-violet range of sunlight. Long-term testing is needed, but the product could reach production for car and other uses relatively quickly.