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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 lack of new inventory is continuing to drive up the demand for used vehicles, which in turn is forcing buyers to pay more week after week and leaving sellers wishing they had more to offer.
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IHS Markit forecasts lows in light-vehicle sales and production will give way to increases ahead.
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While sales of new vehicles declined 13.4% year over year in Q3 due primarily to low inventory and high prices, sales of electrified vehicles jumped by nearly 60%, according to an analysis by Kelley Blue Book.
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Wholesale prices continued to gain momentum, with all segments reporting week-over-week increases last week.
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BMW is faring better than GM, and car dealers are coping better than component suppliers.
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September new light-vehicle sales fell for the 5th consecutive month to a SAAR of 1.2 million units, reported the National Automobile Dealers Association (NADA).
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The seasonally adjusted Retention Index increased to 169.5 points, hitting another record this year.
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As we move into the Fall season, wholesale prices began to show a positive movement once again and reached the highest point of the year last week.
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GM sales fall short of Toyota Motor Corp. over two consecutive quarters.
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U.S. new vehicle retail sales are expected to drop 888,900 units in September, from 1,182,788 a year ago.
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