used car market

Markets rebound following Trump’s tentative ceasefire with Iran, sending oil prices down and futures up. Airlines face rising fuel costs, leading to increased baggage fees. Elon Musk sues OpenAI, alleging fraud and seeking a return to non-profit status. The used car market remains resilient, despite economic headwinds. The U.S. Navy faces retail competition from major giants. AWS secures its Middle East infrastructure after drone strikes.

CARFAX Canada’s 2025 “Year in Rear View,” based on over one million vehicle‑history reports, reveals that one‑quarter of used cars have collision records, with accident‑related claims exceeding $9.2 billion. Weather damage affected more than 50 000 vehicles, predominately hail in Alberta ($414.8 M). Outstanding liens were found on 40 % of vehicles, and VIN fraud may involve over 372 000 cloned VINs. The data underscores the necessity for buyers to obtain a CARFAX report to avoid costly surprises from accidents, damage, liens or fraud.