Latest news with #ToyotaCorolla
USA Today
4 days ago
- Automotive
- USA Today
Used cars under $20K have almost vanished from the market: Here's what's behind the surge
Before the COVID-19 pandemic, more than half the used cars for sale in the nation were 3-year-old vehicles priced for $20,000 or less. Today, those same type of vehicles comprise only 11% of used cars. In fact, most shoppers who are in the market for a used vehicle would be hard-pressed to find a 3-year-old model below even $30,000, forget finding one for $20,000. According to a new study from research website called: "The sub-$20,000 used car is almost gone," the average list price for a used 3-year-old vehicle is now $32,635, that's $9,476 more than it was six years ago. "There's very little negotiation going on for used cars because demand is so high," said Karl Brauer, executive analyst with which is based in Woburn, Massachusetts. "The price of used cars was dropping for the last two years, not dramatically, but going down a little bit every month. The last three months, it's gone up again.' In February, the average list price for a 1- to-5-year-old used car was $31,257, up 1% from the year-ago period. In June, it was up to $32,437, a 4.8% bump from a year ago June, Brauer said. Of course, that's still cheaper than buying a new car. According to the average manufacturer's suggested retail price in June was $50,523, but the average transaction price — which is what a customer pays for the car — was $48,261. 'Who knows what will happen in July. Maybe the trend will stop?' Brauer said of used car prices climbing. In case you missed it: Used car prices hit record highs in 2025: What buyers need to know What's no longer available for $20,000 Metro Detroit reflects what's happening nationally. Brauer said in 2019, 52.2% of 3-year-old used car inventory in the Motor City was priced $20,000 or less. Today, only 13% of the used car inventory in metro Detroit consists of 3-year-old cars priced for $20,000 or less. Brauer told the Detroit Free Press, part of the USA TODAY Network, that his company conducted the study in mid-June. It analyzed data on 2.6 million 3-year-old cars. They focused on 3-year-old cars because those are in the "heart of the age group in the used market," which are 1 to 5 years old, he said. The study showed that the bestselling 3-year-old used models that are virtually no longer available for under $20,000 include the Chevrolet Equinox, Honda Civic, Kia Sportage, Nissan Rogue, Toyota Camry and Toyota Corolla. For example, Brauer said in 2019, 97.6% of 3-year-old Honda Civic cars could be bought for $20,000. Today, 5.7% of 3-year-old Honda Civics are available at that price range at $20,000. 'That's 94.1% drop-off," Brauer said. "The Toyota Corolla, 99.9% were available to a $20,000 buyer in 2019 and now its 62.9% so they've lost about 37%. Chevy Equinox: 88.1% were available in 2019 for a $20,000 buyer and now 22.3% for a $20,000 buyer.' The study found that passenger cars saw the biggest price increase since 2019, up 48.7%. Prices for used pickups rose 28.8% and used SUVs prices are up 15.4%. Here's how that translates to dollars: How COVID drove up car prices The dramatic shift in used vehicle market pricing can be attributed to a few things, Brauer said. First there is inflation, which the nation saw rise after the COVID-19 pandemic. But a $9,500 average price boost can't all be due to inflation, Brauer said. He blames it more on the restricted new-vehicle production in the second half of 2020 as automakers idled assembly plants because of the pandemic. Even though they were back online in a matter of weeks, it takes time to get the suppliers and production back to full capacity. When they finally did, many automakers were then hit with the semiconductor shortage in 2021 that hindered new vehicle production again. "So you had a huge hit for new car production from mid-2020 to 2022," Brauer said. "We're now in 2025 and the cars that would be 3 years old would have been built around 2021 to 2022 and they are not there in terms of the volume the used market needs. It is because the supply of new cars in three-plus years ago are restricted." On top of that, prices have systematically been pushed higher by demand as a result of the pandemic, which saw people move from urban to suburban areas when they no longer had to come into an office. With no public transportation in surburban areas, those people now need to buy cars. "So right when you had new car production restrictions, you had new car demand go up ... and this is three or four years ago," Brauer said. "That pushed up prices of new cars and pushed people into the used market, which pushed up the prices of used cars." To add to the lack of available late-model used cars, he said, the people who leased cars three to five years ago, came off those leases and saw the prices of new and used cars and realized buying out their lease was the cheapest way to get another vehicle. So those leased vehicles are not going back into the used market, he said. 'So all these things, almost every variable that could or would affect used car pricing, has done so in a bad way," Brauer said. "That's made them more expensive.' Used car buying advice So where does this leave used-vehicle buyers? "They have to buy older cars with higher mileage," Brauer said. "When you look at what's selling, for $20,000, it used to be a 3-year-old car and it had like 32,000 miles on it. Now, $20,000 buys you a 6-year-old car with 71,000 miles on it.' The good news is cars are built better so the older used models with higher mileage will last longer, he said. "If you're forced to buy an older, higher mileage car, thankfully older cars are better than they used to be," Brauer said. "I used to consider 100,000 miles as: 'That's disposable.' That's not true anymore. You can get to 200,000 to 250,000 miles fairly easily.' Brauer offers the following tips for used-car buyers: If you have to take a bus or a flight it might not be a big savings, he said. But Brauer is a big believer in expanding your radius in where you're willing to get a car to save a few bucks. 'Sometimes a dealer will ship it and that can be the most economical," Brauer said. "It might cost you $800 to ship it, but if you're saving $2,400 on the price, then you're still getting a $1,600 savings.' Likely no retraction on prices Brauer said it is possible for prices to reverse, but unlikely unless there is a "substantial and unwelcomed turmoil" in the economy. The average used-vehicle prices had stabilized over the last year. But when President Donald Trump applied 25% tariffs to all imported vehicles and car parts this spring, buyers flooded the market to buy new and used cars out of fear that the tariffs would inflate prices. That sudden rush of demand with limited inventory actually caused prices to rise, Brauer said. "We've stabilized. But I think it's unlikely we'll see 1- to- 5-year-old vehicles available for around $20,000 like we did before the pandemic," Brauer said. "I don't think that's going to come back. We'll see ongoing stabilization, but no retraction in pricing." Jamie L. LaReau is the senior autos writer who covers Ford Motor Co. for the Detroit Free Press. Contact Jamie at jlareau@ Follow her on Twitter @jlareauan. To sign up for our autos newsletter. Become a subscriber.
The Citizen
5 days ago
- The Citizen
Cross-examination of state witness in eight accused murder trial continues
Cross-examination of state witness Sibonelo Vilakazi continued at the Middelburg High Court today. Zenzele Mzikayise Yende (48), Werner Potgieter (48), Moses Dlamini (59), Masodeni Elliot Msongelwa Dlamini (61), Cornelius Lourens Greyling (26), Sikhumbuzo Zikalala Nhlabathi (25), Mzwakhe Dlamini (48), and Nkosinathi Msibi (26) are accused of the alleged murder of Sifiso Thwala and Musa Nene, and the alleged attempted murder of Sthembiso Thwala on August 9, 2020. They are also facing kidnapping charges. Vilakazi was being questioned by opposing counsel on his statement he made to Warrant Officer Nhlapo and his evidence in court. Counsel said his statement and his evidence in court were contradictory because in his statement, he did not mention who took out one of the victims from the Toyota Corolla to be assaulted, but mentioned in court that it was Nkosinathi. Vilakazi responded by saying the only error he made was forgetting to mention that aspect, but that it was indeed Nkosinathi who took out one of the victims from the car. He further added that at the time he made the statement, he could not recall certain aspects of the incident, but he now had a clearer memory of what transpired that day. According to opposing counsel, Vilakazi's evidence in court contradicted his statement to Nhlapo on various aspects. Vilakazi replied that on the day he made the statement, Nhlapo told him he may forget some of the things that happened that day, but advised him that should he remember anything, he must mention it in court, but be careful not to mention things that never happened. Vilakazi had testified in court previously that on the night of the incident, Msongelwa instructed him and Nkosinathi to fetch rocks for him, which they did. Msongelwa then allegedly took one of the rocks, placed it on the ground, took Thwala's foot, and placed it on the rock. He then allegedly proceeded to take another rock and hit Thwala on the foot, multiple times, until he bled. It was Msongelwa who allegedly used pliers on Thwala to further assault him. Counsel then asked Vilakazi why he didn't say in his statement that it was he and Nkosinathi who fetched the rocks and took off Thwala's shoes. Instead, Vilakazi told Nhlapo that it was Msongelwa who did that. Vilakazi responded that the officer must have recorded it wrong, because he told Nhlapo that he and Nkosinathi were the ones who fetched the rocks and took off Thwala's shoes, on Msongelwa's instruction. Counsel then told him that the contradictions in his evidence in court and his statement were lies. Vilakazi replied by insisting that he had never told lies, although some confusion might be there between the two statements. More witnesses are expected to testify next week, as the trial is ongoing.
IOL News
5 days ago
- IOL News
Four men shot dead in KwaZakhele, Eastern Cape
Four men were tragically shot and killed while sitting in a silver Toyota Corolla Image: File Four men were tragically shot and killed while sitting in a silver Toyota Corolla on Thursday evening along Thanduxolo Mbete Street in the Qaqawuli area of KwaZakhele. Eastern Cape provincial police spokesperson, Captain Andre Beetge, said officers at New Brighton were alerted to a shooting incident. Upon arrival, they discovered the bodies of the four victims inside the vehicle. The identities of the victims and the suspects remain unknown, and the motive for the murders is under investigation. "A murder case, encompassing four counts, has been opened by SAPS New Brighton. The Eastern Cape provincial serious violent crime investigation (SVCI) unit has taken over the investigation," said Beetge. "Police are appealing to the public for assistance. Anyone with information that could aid the investigation is urged to contact SVCI detective Lieutenant Colonel Sithole at 082 457 2812 or the Crime Stop line at 08600 10111. Anonymous tip-offs are welcome." Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading On Thursday, IOL reported that the long-awaited trial of six men accused of one of the most brutal mass killings in recent South African history is finally set to begin on Monday. The trial will take place at the Lusikisiki Magistrate's Court under a special sitting of the Eastern Cape Division of the High Court. This follows the horrific events of 28 September 2024, when 18 people were gunned down at two neighbouring homesteads in Ngobozana Village, near the rural town of Lusikisiki in the Eastern Cape. The National Prosecuting Authority (NPA) confirmed this week that eight weeks have been set aside for the trial, which is expected to run until 19 September 2025. NPA regional spokesperson Luxolo Tyali said all six accused will face multiple serious charges. The accused — Mzukisi Ndamase, Siphosoxolo Myekethe, Aphiwe 'AP' Ndende, Bonga Hintsa, Mawethu Nomdlembu, and Songezo Vuma — are facing 18 counts of murder, conspiracy to commit murder, kidnapping, robbery with aggravating circumstances, unlawful possession of prohibited firearms, and illegal possession of weapons and ammunition. 'These six individuals have all since abandoned their bail applications and will remain in custody throughout the trial,' said Tyali. IOL News
Yahoo
5 days ago
- Automotive
- Yahoo
Get Ready To Thank Tariffs For Making Cheap Cars More Expensive
Brace yourself for an alarming statistic. A whopping 92 percent of new vehicles sold in the U.S. priced under $30,000 are imports. The eight percent that aren't do not exactly constitute a rounding error, but you would not be unfairly criticized if you argued that basically all America's cheap cars come from someplace else. The stat comes from and the site's Industry Insights Report for the first half of 2025, which concludes that the Trump administration's tariffs are "disproportionately affecting" the cheap car market. For the record, the only American-made cars that cost less than 30 grand are not domestic models: we're talking about the stalwart Honda Civic and Toyota Corolla. OK, technically speaking these are "American" cars because they're made in U.S. factories, but the ugly truth is that cheap vehicles from Ford and GM are imports from Mexico, China, and South Korea. According to the study, the supply of these inexpensive rides is going to dry up, triggering price increases as tariffs kick in through the second half of the year. You might ask yourself why the U.S. market relies so heavily on imports to stock the under-$30,000 segment. The answer is high labor costs in America, but that isn't the whole story. Cheap cars aren't very profitable, if they're profitable at all. GM, Ford, and Stellantis (owner of the Jeep, Chrysler, Dodge, and RAM brands) would rather sell you a more expensive pickup truck or large SUV than a compact sedan and are happy to make those vehicles in U.S. plants. Read more: These Are Your Favorite Factory Exhaust Designs Why Are All The Cheap Cars Imported? For decades, the manufacturing of small, cheap vehicles has effectively been outsourced to other countries. This has enabled American companies to remain in the segment. Tariffs are upsetting this arrangement. For auto executives, the way forward is mostly bad. Years ago, I covered a briefing at the Detroit Auto Show by then-FCA CEO Sergio Marchionne, and he was completely unflinching in his assessment of the affordable small-car market in the U.S. It was for the foreign carmakers to dominate, as in his view they had figured out how to make an acceptable margin. When interest rates were low, this arrangement actually wasn't a major issue – buyers simply financed their way into more expensive vehicles, and for years the average transaction price on new cars and trucks has been trending up (although lately its been in moderate retreat). But interest rates aren't low anymore. And with tariffs, cheap cars are about to get more expensive. There was a run on new-car sales in early 2025 when tariffs were announced, as consumers sought to snap up vehicles before the import taxes hit and the automakers rolled out incentives to move the metal off dealer lots. That phase now appears to be ending, and the U.S. market is preparing to accept a new normal. The question is whether more domestic manufacturing will come online or whether carmakers will reduce production as prices invariably rise and demand flags. Could The U.S. Market Remake Itself? I don't see a scenario in which cheap vehicles suddenly aren't imported in droves. So if tariffs aren't dialed back, the entry-level tier is set up for a world of hurt. It's depressing to consider this outcome after decades of Americans enjoying the world's most competitive market and having access to all manner of choice when it comes time to purchase a new set of wheels. Supporters of Trump's tariffs will insist that the policy will force automakers to increase U.S. production, build factories here, and ultimately hire more U.S. workers. But students of Trump's actual motives understand that what he and his trade advisors might actually want is to compel exporters to eat the tariffs, effectively paying a substantial toll for access to the U.S. market. That idea relies on prices somehow not going up, and of course Trump has jawboned the car companies to shield consumers from the well-understood economics of tariffs. They might play along. But that would mean they'll lose even more money on inexpensive cars than they are already. The logical response would be to reduce supply. In the near term, we're likely to see fewer sub-$30,000 cars available as tariffs make life far more unpleasant for the segment. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
Time of India
6 days ago
- Time of India
Turquoise alert issued in Arizona to trace mother who fled with her 6-year-old girl from Hawaii
A statewide Turquoise Alert has been issued on Wednesday, July 23, in Arizona for 6-year-old Violet Coultas, a missing girl from Hawaii who was last seen at Phoenix Sky Harbor Airport on July 12, according to the Arizona Department of Public Safety. Authorities say Violet was accompanied by her mother, Sarah Coultas, who does not have legal custody of the child and is wanted for violating a court order. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science CXO Product Management Technology Project Management Data Science MCA Digital Marketing Cybersecurity Others MBA healthcare Finance Leadership Healthcare Management Data Analytics Public Policy others Artificial Intelligence Operations Management Design Thinking Degree PGDM Skills you'll gain: Data Analysis & Interpretation Programming Proficiency Problem-Solving Skills Machine Learning & Artificial Intelligence Duration: 24 Months Vellore Institute of Technology VIT MSc in Data Science Starts on Aug 14, 2024 Get Details Skills you'll gain: Strategic Data-Analysis, including Data Mining & Preparation Predictive Modeling & Advanced Clustering Techniques Machine Learning Concepts & Regression Analysis Cutting-edge applications of AI, like NLP & Generative AI Duration: 8 Months IIM Kozhikode Professional Certificate in Data Science and Artificial Intelligence Starts on Jun 26, 2024 Get Details Surveillance footage shows Violet at Sky Harbor around 10 p.m. MST on July 12 with her mother. The Hawai'i Island Police had reported both Violet and Sarah missing on July 19, after the two were last seen together earlier on July 6 in South Kona, Hawaii. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 20 Pieces of Clothing Older Women should Avoid Learn More Undo Sarah Coultas, 48, is now the subject of an arrest warrant. She previously lived in Pa'auilo, worked in Hilo, and may frequent the Kona and Ka'ū areas. Officials believe the pair may still be in Arizona, and possibly using a silver 2005 or 2006 Toyota Corolla with a faded hood. The license plate number remains unknown. Live Events Description of missing child and suspect Violet is described as a white female, 3 feet 10 inches tall, weighing 43 pounds, with blonde hair and hazel eyes. She was last seen wearing a white shirt, pink jacket, pink sweater, light-colored shorts, and white shoes. Sarah Coultas is described as Caucasian, 5 feet 11 inches tall, 160 pounds, with straight brown hair and hazel eyes. What is a Turquoise alert? Arizona's Turquoise Alert system was created under Emily's Law, passed in May 2025 after the death of Emily Pike, a missing San Carlos Apache teen. The law was designed to address gaps in alert systems for missing persons under 65, particularly at-risk individuals and tribal members. Turquoise Alerts are issued when a person under 65 goes missing under unexplained or suspicious circumstances, and authorities believe they may be in danger or accompanied by someone dangerous. This is the first statewide Turquoise Alert issued since the system was established. How is a Turquoise Alert different from an Amber Alert? A Turquoise Alert differs from an Amber Alert primarily in who it aims to help and the circumstances involved. While Amber Alerts are issued only for children under 18 who are believed to have been abducted and are in immediate danger, Turquoise Alerts apply to missing and endangered people under the age of 65, including tribal members, who have disappeared under suspicious or unexplained circumstances. Importantly, Turquoise Alerts do not require proof of abduction, only that the individual may be in danger or accompanied by someone potentially harmful.
