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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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All nine car segments reported gains last week, however, 0.8% is the lowest weekly gain the overall car segment has seen in 15-weeks.
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Programs from Lexus, Kia shine brightest among CPO offerings this year.
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Wholesale used vehicle prices have increased 37% over the past 20 weeks and used retail prices rose 15% since the end of 2020.
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Driven by an extreme shortage of rental returns and limited inventory of new vehicles, the price trends of newer used vehicles have been experiencing larger weekly gains.
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The SQIL strategy focuses on building up supplier capabilities versus finding new sourcing, punitive fines, and enhanced surveillance when suppliers don’t deliver.
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Agents, dealers, and product providers need to stay ahead of their competition when it comes to F&I products. Whether it be which product is at the top of consumers’ shopping lists, how digital retailing is currently affecting the buying process, or trends in the way products are sold, our executives left no stone unturned.
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The automotive industry is heavily influenced by a multitude of factors that fall outside the control of agents, dealers, and F&I product providers and administrators. Following a year that can only be classified as a rollercoaster for the economy, we are now also left predicting what effect a new president will have on the country as a whole and the world of automotive, specifically.
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To our credit, we have proven that we can work remotely, but as employees return to work, you must ensure your levels of employee engagement remain high as they acclimate to a new reality.
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Today’s news pushed Ford shares up 6%. Ford stock prices have doubled since CEO Jim Farley took the helm in October 2020.
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Experian’s latest report also highlights geographic trends in automotive finance.
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