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Used Lots Getting the Business
Many consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
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AE Magazine
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SEARCHMENUSEARCHMany consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
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The Japanese automaker forecasts operating profit for the fiscal year will hit 360 billion yen ($2.5 billion), up 100 billion yen from its July forecast.
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Mitsubishi Corp. has raised its full-year net profit forecast by 21% to a record 1.03 trillion yen ($7 billion).
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The Estimated Average Weekly Sales Rate dropped to 53% last week.
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New U.S. EV tax credit changes are coming under fire as Japan's government warns these credits could thwart further EV investment.
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Volvo Car AB of Sweden reported sales grew 7% year-over-year in October.
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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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