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BUY AUTO PARTS IN THE NEWS
Digital Journal: Kelly Blue Book announces Best Resale Value Awards for Cars
January 29, 2015 - San Diego, CA - BuyAutoParts.com CEO Dara Greaney was recently quoted in Digital Journal’s article Kelly Blue Book announces Best Resale Value Awards for Cars. The article written by Nicole Weddington discusses Kelly Blue Books annual top picks for resale value.
The article explains that a majority of the Top 10 Best Resale Value featured trucks, SUVs and crossovers. This is an important trend as more companies look to reduce emissions but keep room and utility optimal. The top spot went back to Subaru as their entire lineup of cars maintained their value, unlike any other brand.
“Resale value is really impacting brands. Brands like Subaru that don’t spend heavily on marketing really benefit from this reputation. They are up 20% YOY to 514,000 vehicles. That’s up from just 187,000 in the US in 2007. Most would never guess Subaru is #10 brand in the US. Ahead of Volkswagen and GMC. Number 8 in Q4 2014,” said BuyAutoParts.com CEO Dara Greaney.
As stated by the Kelly Blue Book Site, “The 2015 Best Resale Value Awards are based not on a feeling or a guess or a simple calculation, but instead on what we consider to be the best research and analysis process in the industry. Our resale value projections take into account current vehicle data, sales data, market conditions for each vehicle, competition within vehicle segments, expectations of the future economy and the combined experience of Kelley Blue Book's team of market and pricing analysts.”
Breaking down the analysis further, resale value and sales data are heavily correlated with the longevity of the vehicle and the cost of maintenance. Part of the cost of maintenance is the price of replacement parts. Most consumers drive their cars past their warranty dates and mileage, which means they are now liable for maintaining their vehicle. Many still continue to have their cars serviced at their local dealerships, but a growing trend continues to rise as more consumers are buying their auto parts online and getting their cars worked on by a non-dealer mechanic or choosing to do the work themselves. This is an enticing option as consumers can buy the same parts the dealership sells, but at a lower price.
BuyAutoParts.com has been a part of this growing trend, providing DIYers and consumers with the parts they need to maintain their cars at a better price than local dealerships and brick and mortar auto parts stores. Not all parts can be bought from third party retailers. Many brands continue to sell parts that can only be purchased directly from the dealership. This is a negative mark against resale value as the costs of these parts tend to be more expensive than their aftermarket or OEM counterparts sold by third party suppliers.
Brands that have cheaper alternatives for replacement parts will continue to see the top of the list for resale value. Longevity paired with easy access to these parts will allow consumers to keep their cars longer and keep the resale value higher when they choose to sell them.