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Used Vehicle Prices Climb Higher As Sales Pace Slows
The higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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SEARCHMENUSEARCHThe higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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The new Centralized Vehicle Data Repository offers a single place for remarketers to access build data, MSRP, recall, and warranty information at the VIN level — and potentially see better pricing as a result.
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Rising car depreciation put a drag on used vehicle sales, which fell in value significantly more sharply in August compared to July and August from a year ago, according to Black Book.
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Volkswagen will begin offering its new models for lower prices and provide dealers with a broader product range in a move that could lower residual values if incentives remain high, one expert told Automotive Fleet.
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Only seven of 29 hybrids offered in the 2016 model year showed a lower total cost of ownership than their gasoline counterparts, representing a sharp decline from 2012 levels, according to an analysis by Vincentric.
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The average wholesale used price in July was $10,362, a 2% decline from June but a 4.9% increase from year-ago period, according to ADESA Analytical Services.
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Used vehicles from the 2011 to 2015 model years depreciated 1.5% in July, a slight improvement over June's 1.7% depreciation rate, reports Black Book.
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Wholesale used vehicle prices increased in July despite expectations that wholesale prices would suffer in 2016 due to growing wholesale supplies.
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MetroGistics has hired Terry Mollica as director of business development, the automotive logistics provider has announced.
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The average price of a used vehicle for model years 2011-2015 depreciated 1.7% in June, following light depreciation in May. These vehicles fell 15.4% in value from year-ago-levels, according to Black Book.
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In May, average wholesale values fell relative to April, though they remain up on a year-over-year basis largely because of the price strength of trucks, according to ADESA.
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