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War Toll a Damper on Used Auto Prices
Cox Automotive found wholesale depreciation to be elevated in September amid high fuel prices and this year's unusual hurricane season.
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SEARCHMENUSEARCHCox Automotive found wholesale depreciation to be elevated in September amid high fuel prices and this year's unusual hurricane season.
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Ford Motor Co. President and CEO Chris Farley names making electric vehicles more affordable and mining battery minerals in the U.S. as top priorities.
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Automobile sales in September are forecast to slow for the fifth straight month, as tight inventory, high prices take a toll on the industry.
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GM entered agreement with the rental car company to funnel more loaner vehicles to dealerships amid the global microchip shortage.
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Traditionally, as we move past Labor Day, values begin to decline, with the largest portion of the yearly depreciation typically occurring in the fourth quarter. However, that is not the case this year, we’ve now had four consecutive weeks of overall market increases in wholesale values.
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Current inventory levels rest at a 31-day supply for U.S. dealers, reports Cox Automotive subsidiary vAuto.
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Auto dealership buy/sell market on path to most active year in history – 320 transactions June 2020 to June 2021.
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The U.S. Commerce department reported the uptick of 0.7% in retail sales.
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General Motors will extend production cuts at crossover, midsize pickup and sedan plants because of the semiconductor chip shortage but will resume full-size pickup production on Monday.
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The companies sharply criticized a Democrat proposal in the U.S. House of Representatives to give union-made electric vehicles an additional $4,500 tax incentive.
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Days-to-turn for used retail listings have been increasing, as retail demand softened over the last few weeks.
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