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Used Sales Hit Summer Drag
The vacation season, combined with high prices, has dented deliveries and added to inventories, though supply is still slim enough to keep listings elevated.
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AE Magazine
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SEARCHMENUSEARCHThe vacation season, combined with high prices, has dented deliveries and added to inventories, though supply is still slim enough to keep listings elevated.
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Demand for new vehicles in the United States remains strong despite rising interest and loan rates, reported CEO Tomomi Nakamura.
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New light-vehicle sales in October 2022 totaled a SAAR of 14.9 million units, the second-highest monthly total this year.
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It was another stable week in the lanes last week. Inventory is still available and consistent, but there has been a noticeable increase of IF sales and no sales.
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Soaring material and parts costs offset benefits gained from a plunging Japanese yen and production rebound.
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LMC Automotive and J.D. Power predict U.S. auto retail sales will rise in October as supply chains improve and make more vehicles available to dealerships.
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In a down economy, industry experts recommend dealerships offer a range of finance and vehicle options to address budgetary concerns.
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Used Retail Prices are more accessible than in years past, due to the proliferation of ‘no-haggle pricing’ for used-vehicle retailing. Transparent pricing upfront makes the car buying process more enjoyable for customers and allows Black Book to accurately measure retail market trends.
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According to the Cox Automotive forecast released today, October’s U.S. new-vehicle sales volume is expected to rise over 4% from last year and finish with 1.11 million units sold, delivering a sales pace for October of 14.3 million.
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The steps Ford is taking now to cut costs and boost revenue could pay off in big dividends in the future.
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