Modern day business operates on its own unique premises and dynamics but it is almost never debated that automobiles is one of the most important business fields in today’s global economy. Cars not only help people and cargo get around but are also a great source of income as their commerce is common virtually in every part of the world, creating hundreds of billions dollars’ worth of revenue for numerous parties involved. Whether it be selling cars through dealerships, running a cash for cars operation, supplying the market with cheaper spare parts or operating a repair and maintenance shop, the players in the game are always bombarded with new products and alternatives. Such fast-paced market dynamics make it a necessity for such players to be on track with novelties and developments at all times, consequently turning information into gold for all the parties operating within the market.
The new name of the game in the industry is electric cars after Tesla’s legendary entry into the markets with its revolutionary products that raised the standards and levels of competition in the industry. In the more environmentally aware parts of the world such as Scandinavia, the new trend has already gained substantial heat as in 2018, 58% of all cars sold in Norway were electric vehicles, with Tesla’s widely popular Model 3 “accounting for nearly 30 percent of new passenger vehicle sales.” Out of the 18,375 new passenger cars registered in the country, 10, 372 produce zero emissions, which signifies a 100% growth rate compared to March figures of 2018. Similarly, more than 5,300 Tesla Model 3 sedans were registered in March of 2019 with no other carmaker enjoying more than 10% of total sales. With 3,469 new hybrid cars sold in its market, Norway seems to be heading towards success with its plans to transform its automobiles market to include only environmental friendly vehicles in the near future as the government continues to offer benefits such as exemption from sales, import and road taxes for zero-emissions cars.
As much as the producers in the industry would love to supply all the customers with brand new cars every year, the second hand cars market has always remained as a great alternative for those seeking more bang for their buck and the US market is presumably one of the largest in the world. For an average of 14 million new cars sold in the country, there are 40 million used cars sold every year through 45,000 independent and 18,000 new dealerships. The average price for a used car is $19,741 while dealerships in the state of Michigan offer used cars for an average price of $16,489 and the dealerships in the states of West Virginia and Arkansas offer the youngest used cars with an average age of 3.9 years old. Used cars sold in the state of South Dakota have an average mileage of 80,000 miles due to the large size and dispersed regions in the state, while Alaskan used cars offer the lowest average mileage due to the compact organization of the state. With respect to the brands dominating the market, Ford, Chevy and Honda emerge as the leaders with first spots in twenty-two, ten and seven states accordingly. Ford’s F-150 model has been topping the American automobiles charts for popularity as it has been the most sold car model in American for the last 33 years, with the scenario repeating itself in the used cars market too.
Second hard cars have always been a hot spot of market activity and creative minds have always won in the competition. Craigslist is one of the newer phenomena in the market as it allows buyers and sellers of cars to connect directly, allowing rich content to be published for better communications. Recently, a user made the social media headlines with a brutally honest advertisement for his 1999 Toyota Corolla, attracting tens of thousands of visitors to the site and generating even more Twitter reactions. What the user did was ingenious as the technically inferior aspects of the vehicle were directly mentioned such as no Bluetooth, no sunroof, no fancy wheels, no rear view camera while the standard features such as “a transparent rear window” were highlighted to assure potential buyers that the car “will outlive you” and will also “outlive your children.” The outcome of the seller’s honest attempt is still unknown as Craigslist quickly removed the advertisement from its website but statements such as “let’s face the facts, this car isn’t going to win any beauty contests, but neither are you” most definitely reduced the chances of success for the bold seller.