Saturday, November 20, 2010

Trends and Things


As many of our regular readers and customers know, we here at Pumpkin Fine Cars do our best to keep you informed on current industry trends and news.  We do this because we like to add more value to your experience buying at Pumpkin and want to keep you as informed as possible so that you can make the best possible decision when shopping for and purchasing a car. 
Right now, the major news in the pre-owned car industry is that prices for pre-owned cars are at an all time high.  There are a few reasons for this and they can be explained for the most part with simple laws of economics.  We are all aware of how rough the current economy is and has been in the past few years.  No explanation needed there.  One result of these very tough economic times is that more and more cars buyers are going the pre-owned route, rather than buying new.  The first reason for this is that many simply cannot afford a brand new car and find more value or "bang for their buck" buying pre-owned.  The second, which may or may not be surprising, is that it is trendy to be frugal.  Car buyers do not want the stigma of spending money on a brand new car.  Both of these reason are leading to an increase of demand on the pre-owned market.  Now, dealing with the issue of supply, meaning the pre-owned inventory that is available to dealers like Pumpkin Cars, it is shrinking.  Many auto manufacturers are selling less inventory as fleet and lease vehicles, which typically are sold wholesale when their lease term has expired, making their way into pre-owned inventories.  The major reason for the tightening of the supple of pre-owned cars was the popular "cash for clunkers" program.  This program took approximately 700,000 cars off the road. 
It does not look as though the new car market will rebound any time soon either, because manufacturers are squeezing new car discounts causing prices to rise on that side as well.  The improvements in design, materials and manufacturing in the last decade has made it so that cars are lasting longer than ever meaning there are plenty of pre-owned cars that are running and running well for much longer than they had in the past.  The average miles of cars traded in this year was around 49 thousands compared to about 46 thousand last year.  The average age of all cars on the road peaked this year at seven years.  So overall, it is still the best value to go with a pre-owned car.
Here at Pumpkin Fine Cars, we try our best to have a wide selection of makes, models and price ranges.  Right now our inventory spans from $5,995 to $59,995, that is a large margin.  All of our cars are prepared the same way and go through our rigorous Pumpkin Certified Program, regardless of price.  Rest assured no matter what your price range is, we will have a great car for you.  Please take a ride over to our unique indoor showroom and browse our pristine inventory.  We provide a relaxed, no hassle environment and our staff is the best in the business.  It will be the best car buying experience you would ever imagine!
As always, Pumpkin Cars is available over the phone at 609-646-7676 and via email at [email protected] .  You can find and "Like" Pumpkin Cars on Facebook, follow@PumpkinCars on Twitter, view videos of our inventory on YouTube, and if you enjoy what you have just read, please subscribe to our blog.  

No comments: