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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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Inventory-constrained Toyota held on to the top spot for shopping consideration, but Ford narrowed the gap in the second quarter despite its own supply challenges.
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The overall market continued to decline this past week, but the rate of depreciation lessened, and some segments reported positive pricing movement.
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EV companies, Arrival and Fisker, embark on paths designed to circumvent production challenges experienced by Tesla.
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Days-to-turn for used retail listings have been increasing, as retail demand softened over the last few weeks.
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Brands with unfavorable lease policies continue to see lower brand loyalty.
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Despite the limited inventory on dealer lots, dealer lanes continue to have higher volume at auction, while manufacturers’ remarketing lanes are offering less and less in open sales channels.
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LMC Automotive expects the semiconductor shortage to cut production in North America by about 452,000 units over the remaining months. The company also expects the chip shortage to impact production by about 1.5 million units.
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Last month we noted that the record run of value increases we have seen over the past 18 months appeared to be slowing down and possibly ending.
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If you’re trying to sell to Generation Z buyers, new data shows they have a radically different mindset from millennials and all buyers overall, requiring businesses and sales professionals to adjust tactics to close the deal.
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The U.S. auto market has seen growth this year in nearly every segment, but no segment is growing more quickly and more relentlessly than electrified vehicles.
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