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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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The Ukraine invasion has ramped up the price of metals used in vehicles and OEMs likely will pass these costs on to consumers.
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Declines in wholesale prices continued last week, despite an improvement in conversion rates.
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New-vehicle sales volume has been averaging just over 1.05 million each month since last August, and this February is not expected to buck the trend.
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The Estimated Average Weekly Sales Rate has dropped to 61% this week, after a few weeks at 62%. This is not surprising as wholesale buyers try to anticipate consumer sentiment and wholesale seller behavior.
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Volkswagen plans to decide on location for new plant and increase production output in the second half of 2022, reports company officials.
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The rate of week-over-week declines has accelerated, exceeding the typical seasonal expectations for this time of year.
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Tesla’s Model Y could overtake BMW as the top-selling luxury model when its plant opens in Texas.
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The auto retailer reports sales jumped 34% in the fourth quarter and soared 51% for the year.
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Tight supply and lower production helps the companies sell vehicles with fewer financial incentives than they traditionally offer.
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Consumers continue to pay well above MSRP for a new vehicle, marking eight straight months of paying more than sticker price.
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