About two weeks ago, US citizens took to the polls for some crucial votes. The votes have nothing to do with a political campaign. However, the subject was equally vital as it involves an issue that affects the everyday life of an ordinary man.
The polls were about Maine’s proposal to support right-to-repair measures that have been gaining popularity nationwide. In a vote on the matter, Maine citizens voted overwhelmingly in favor of the bill. If passed, it will standardize several key components across America’s automakers.
The measures proposed in Maine call for automakers to standardize onboard diagnostic systems across vehicles. This step will allow car owners and independent repair shops to access those systems. Little wonder there were overwhelmingly votes in favor of it in Maine.
Supporters of the motion believe that the initiative is vital because more vehicles are transmitting real-time diagnostic and repair information wirelessly. This could make it harder for independent repair shops to fix cars that develop issues along the line.
The Alliance for Automotive Innovation, a representative of the major automakers, does not believe the initiative is a good idea.
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It said the election results were “disappointing but hardly surprising.” The auto industry is convinced that voters were “scared” by out-of-town retailers who said they were about to lose the right to fix their vehicles.
The industry argued that no “telematics loophole” hampers individuals and independent mechanics from diagnosing issues. Maine is one of the most recent states to pass this law. It follows similar moves from Massachusetts.
In the Bay State, lawmakers have standardized telematics across vehicles since 2022. In other news, used car prices dropped in October 2023, which is good news for anyone looking to get a second-hand car.
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The wholesale prices of used cars saw a dip of up to two percent. The average car price fell by 2.3 percent in October, but there were also various drops across different segments.
Compact car prices felt the dip the most, registering more than 10 percent in price decreases throughout the month, while pickup trucks dropped the lowest at a mere 0.5 percent.
According to Chris Frey, senior manager of Economic and Industry Insights for Cox Automotive, the end of the UAW strike gets some of the credit. He believes the opposite of a dip would have happened if the strike dragged into November. That usually sends buyers into the used car market with new-car money, driving prices up there too.
Frey thinks the dip is tremendous but advises caution. Wholesale price drops usually become retail price drops after six to eight weeks. However, Frey says we may not see that happen this time.
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