Latest news with #CarGurus
Yahoo
a day ago
- Automotive
- Yahoo
Auto sales see 'return to normal' while trying to shake off tariffs
While Ford (F) posted a 16% year-over-year increase in May auto sales — bolstered by employee pricing discounts — how have other automakers been trying to get ahead of tariff impacts? CarGurus director of economic and market intelligence Kevin Roberts joins Asking for a Trend's Josh Lipton to talk more about auto price forecasts as car brands navigate President Trump's tariff policies and proposals to tax steel imports. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. Well, automakers led by Ford saw big sales gains in May, as price cuts and shedding inventories blunted the effect of President Trump's auto tariffs. For more on the latest numbers and the state of the auto industry, let's welcome in here Kevin Roberts, Car Gurus's director of economic and market intelligence. Kevin, always good to see you. So, auto sales for May, Kevin, just looking, I mean, nice sales gains. I'm looking at Ford sales jumped about 16%, Kevin. Truck sales, strong, hybrid strong, EV not great. Toyota looks like an increase about 7% in May. We heard from Hyundai and Kia as well. Just broadly, when you looked over that data, Kevin, how would you characterize it? What would you make of it? Yeah, it was, uh, I would say a return to normal. So, uh, I like to say end of March, early April was kind of a crazy time for the auto industry when the tariffs were first announced. May was a little bit more back to normal, uh, traditionally a really strong kind of sales month for the industry. Um, you know, end of tax season, we have, uh, Memorial Day sales. So that's been really kind of helpful for the industry. And you mentioned it, several automakers really had some strong months. Couple things I think really kind of helped there. Ford had their employee pricing for all, uh, you know, vehicle affordability has been a trend we've really been highlighting for a while now. So I think that kind of discounts really kind of helped drive sales there. And then you mentioned hybrids. That's one that helped for both Ford and Toyota. Um, hybrid sales continue to see really strong growth. Consumers really like hybrids, and Ford and particularly Toyota are really dominant in hybrid power trains, which is helping to drive sales. Do you think we saw some pull forward in those numbers too, though, Kevin? You know, folks trying to get ahead of tariffs? That is the million dollar question for the auto industry right now. Uh, how much, if if we did see pull ahead, how much did we see pull ahead? And where might that start to bite back? Um, you know, was that kind of Q2 sales towards the end of the quarter that we pulled that from, or was it later in the year? It's really an unknown at this point. Uh, did we just kind of shake people off the sidelines who, you know, weren't in the market, or did we kind of pull ahead a lot of volume, uh, in those kind of crazy weeks after the tariffs were announced? And it's, it's, it's a major unknown for the industry right now. Kevin, you know, tariffs in place. So do you think these automakers, do they maintain pricing, Kevin, or would you expect, no, starting here in June, perhaps, we're, we're going to see prices start rising? Yeah, so we've been monitoring what's been happening to the average list price of vehicles on the site. Uh, somewhat surprising, we haven't seen large shifts, uh, to this point. However, like you said, a lot of automakers I think we're kind of in a wait and see approach after the tariffs were announced. And we're starting to see a trickle of some announcements of, uh, price increases as we get into June. Uh, and that's going to be a trend we kind of monitor, um, to see if that continues and if we start to see some of that expected price inflation, uh, for vehicles as we move into the second half of the year. What did you make of the reaction in some names, um, this week, Kevin, for GM, for example, moving lower as Trump talked tough on steel tariffs? Yeah, so it, it's a little bit of a different situation than if we would have talked a month or two ago. Uh, we had another executive order signed towards the end of April, uh, which gave hierarchy to stop stacking of a number of tariffs. And so that should stop, um, section 232 auto tariffs from being stacked with those steel and aluminum tariffs. So there is some protection for the auto industry. Now, it's important to keep in mind that those, that kind of protection only exists for, uh, finished vehicles and parts covered in those tariffs specifically. So for parts not covered there, we could see an impact there. And I think that's what you, that, uh, uh, that kind of risk is where you're seeing that shift this week. By the way, should kind of just see a breaking news headline here. Uh, according to the White House, UK steel tariffs, they're going to remain at 25% for now. Um, lastly, Kevin, on Tesla, I want your views there. There, we did get some numbers this week. Broadly, weak sales for Tesla in Europe. What do you make of that, Kevin? Is that branding? Is that, you know, the Model Y change over? Is that more competition for Musk over there? Is it all three? So, uh, we, Tesla is a direct to consumer automaker, so we don't get their data in, in our listing data, so a little bit difficult to say there. What I can say from the used side of the market, even with all the noise around Tesla recently, still, uh, still seems pretty strong, uh, demand for used Teslas out in the marketplace. So can't, can't comment as much on the new side of the market, but used side still sees, uh, uh, strong interest for used Teslas. Interesting. Kevin, always great to have you on the show. Thanks so much for your time. My pleasure. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Automotive
- Yahoo
Auto sales see 'return to normal' while trying to shake off tariffs
While Ford (F) posted a 16% year-over-year increase in May auto sales — bolstered by employee pricing discounts — how have other automakers been trying to get ahead of tariff impacts? CarGurus director of economic and market intelligence Kevin Roberts joins Asking for a Trend's Josh Lipton to talk more about auto price forecasts as car brands navigate President Trump's tariff policies and proposals to tax steel imports. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.
Yahoo
27-05-2025
- Automotive
- Yahoo
CarGurus to Present at William Blair's 45th Annual Growth Stock Conference
BOSTON, May 27, 2025 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 most visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced that Jason Trevisan, Chief Executive Officer, is scheduled to participate in a fireside chat at William Blair's 45th Annual Growth Stock Conference on Tuesday, June 3, 2025, at 10:20 AM ET. A webcast of the fireside chat will be accessible from the Investor Relations page of the company's website at beginning at the time indicated above, and an archive of the presentation will be available there for 30 days following the event. About CarGurus, Inc. CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, instantly acquire, and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms, and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S. 1 In addition to the U.S. marketplace, the company operates online marketplaces under the CarGurus brand in Canada and the U.K., as well as independent online marketplace brands Autolist in the U.S. and PistonHeads in the U.K. To learn more about CarGurus, visit and for more information about CarOffer, visit CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks and registered trademarks are the property of their respective owners. 1 Similarweb: Traffic Report [ Autotrader, TrueCar, CARFAX Listings (defined as CARFAX Total visits minus Vehicle History Reports traffic)], Q1 2025, U.S. Investor Contact:Kirndeep SinghVice President, Head of Investor Relationsinvestors@ Media Contact:Maggie MeluzioDirector, Public Relations & External Communicationspr@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
25-05-2025
- Automotive
- TechCrunch
Tesla opened Cybertruck trade-ins, and the numbers aren't pretty
In Brief Per Inside EVs, Cybertruck owners are now allowed by Tesla to trade in their cars for the first time since they hit the market – but they'll incur a heavy hit in the process. CarGurus recently showed depreciation rates of up to 45%. Meanwhile, Business Insider talked this past week with two owners who shared firsthand what value Tesla has assigned their Cybertruck. One owner, who bought a $100,000 AWD 2024 model and accumulated 19,623 miles, received a quote for $63,100 (a 37% depreciation); the other purchased a top-of-the-line $127,000 Cyberbeast last September was shown a quote for $78,200, which would amount to a 38% loss after eight months. Tesla initially banned owners from reselling the vehicle – a policy typically used to prevent scalping of high-demand vehicles and to maintain brand control. In Tesla's case, it may also have delayed a wave of trade-ins or resales from owners facing a backlash owing to Elon Musk's high profile in the Trump administration or frustrated with ongoing quality control issues, which have included runaway gas pedals and falling trim pieces. Worth noting: trade-in figures are typically lower than private-party sales, and EVs as a category depreciate fast. According to Wired, some brands can lose up to 50% in year one.
Yahoo
23-05-2025
- Automotive
- Yahoo
Over half of all UK new car models available in 2025 are SUVs
Analysis from CarGurus — an online automotive retail platform - has found that there are now 193 new SUV models available to motorists from the U.K.'s top 35 manufacturers, compared to just 30 in 2000 (analysis includes SUVs and crossovers). Further research from CarGurus revealed that all 35 of the U.K.'s most popular brands now offer at least one SUV in their range, with 57% offering five or more SUV variants (20 out of 35). Considering the top three brands with the greatest number of SUVs, there are 46 different options (18 from Audi, 15 through BMW, and 13 from Mercedes). In 2000, less than half of the manufacturers examined in the study offered an SUV. The ever-growing popularity of SUVs is reflected in customer demand. According to the Society of Motor Manufacturers & Traders, eight of the ten best-selling cars year-to-date in 2025 are SUVs, with only the Vauxhall Corsa and Volkswagen Golf representing other car categories. Similarly, eight of the top 10 best-selling cars in 2024 were SUVs, with the Ford Puma, Kia Sportage, Nissan Qashqai, Nissan Juke, and Tesla Model Y making the top five. The continued rapid rise in this body style has led to an 18% increase in new SUV models in 2025 vs. 2024. Furthermore, of the 193 variations available, 33% are EVs (64). The CarGurus team also found that traditionally popular body styles have experienced a sharp decline in availability across the top 35 manufacturers studied, with 52% of new cars available today being SUVs (52%). In particular, MPVs are down by over 70% since their peak to 22 models (compared to 75 in 2011-2015), and hatchback options have decreased by 46% over the same period, from 100 variations to just 54. Chris Knapman, CarGurus U.K. Editorial Director, said: 'Features like the high driving position, flexible interior space, big boot, and potential off-road capability make SUVs an appealing body style to consumers, so it's no surprise that manufacturers have been racing to meet this demand with an increasingly varied supply of new models. 'Of course, this increase in appetite for SUVs has meant there's been less demand for other types of cars, with the choice of MPVs in particular having dwindled on the new car market. Buyers after one of these less in-demand body styles would do well to look to the used market instead, where there are still plenty of models - SUVs and otherwise - to suit all price points and needs.' SUV offering numbers broken down by brand: "Over half of all UK new car models available in 2025 are SUVs" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
