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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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Toyota saw sales rise to 840,303 units in May, led by swiftly recovering demand in North America.
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Another week of gains for the exceptionally strong wholesale market; however, that pace has slowed tremendously.
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The automaker declares 2040 as the date it will phase out gasoline-powered cars.
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Wholesale prices remain strong, however there are signs of softening in the market this week, as prices of newer used vehicles seem to be hitting a ceiling.
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The estimated average transaction price for a light vehicle in the United States was $41,263 in May 2021, according to the analysts at Kelley Blue Book.
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A majority of dealership leaders – approximately 65% – report they plan to increase the total number of employees in the dealership this year.
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Retail sales dropped 1.3% in May, following a 0.9% gain in April, reported the U.S. Department of Commerce.
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The May Retention Index showed another increase and broke yet another record, reaching 159.6 points, a 7.1 point (or 4.7%) increase from April (152.4).
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President Biden assigned the task force to develop responses for near-term supply challenges in key industries.
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The bill earmarks $52 billion to help domestic semiconductor manufacturers expand production.
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