A new tax break is officially on the books in Michigan.
GM said Tuesday that it sold 4.85 million cars and trucks worldwide from January through June.
Thinking about buying a car this season? The Macomb County Sheriff’s Department says: “Buyer, beware.”
In the first three quarters of the year, the Japanese automaker has sold 7.4 million cars and trucks world wide, putting it back in the number one spot.
New vehicle prices have dropped $500 in the past year, mainly because Japanese automakers have restocked dealers after car shortages in 2011.
According to a report from an Ann Arbor-based industry research group, more than $135 billion in federal and state revenue is generated by the auto industry and from drivers and car owners nationwide.
Worldwide new vehicle sales in 2012 are expected to rise 6.7 percent over 2011 volumes to 77.7 million vehicles, according to Polk, a Southfield-based automotive market intelligence firm.
Kelley Blue Book’s http://www.kbb.com reports that car shoppers are encouraged to buy their next used vehicle before the end of the year, as values are expected to increase 4 to 6 percent in early 2012.
It’s the best time in years to sell your car. So few used vehicles are on the market that prices have risen to their highest in at least 16 years.
Many car companies backed off on incentives and it appears that some customers have decided to wait for the deals to come back.