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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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Work Truck Solutions' annual review of 2023 data shows that while commercial vehicle inventory levels outpaced growth in 2023, work trucks and vans carried higher price tags - signaling that demand is still strong.
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For the full year, Cox Automotive estimates sales for used retail were down about 3%, curtailed by a constrained supply of newly used vehicles in the market.
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CAR 2024: Joe Miller will enliven the Conference of Automotive Remarketing with a presentation on new ways to view personal and professional success.
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All major vehicle segments saw price declines compared to last month, with most categories exceeding the average industry decline.
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According to Vincentric, fleet costs per mile for most vehicle categories increased slightly in the fourth quarter, tempered by falling fuel prices.
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The leading consignors trade group and the producer of the annual Conference of Automotive Remarketing (CAR) align to bolster event offerings and better serve the remarketing industry.
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Manheim expects constrained growth with a volume increase of less than 1% in 2024, indicating a return to a more normal market.
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Cox Automotive welcomes a return to normalcy after four years of everything but normal, with nothing in the data suggesting vehicle market surges in any direction.
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The product leverages artificial intelligence and computer vision technology to provide a virtual overlay of any exterior damage detected on a vehicle, making it easier to spot hail, paint peel, detached panels, broken lights, rust, scratches, dents and cracks.
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Wholesale supply ended November at 30 days, up one day from the end of October and flat year over year.
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