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The typical monthly payment hits a record of $712.
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The trend continues to be much worse now than a year ago when prices were notably lower and incentives were higher.
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Year to date, the total used-vehicle market is on pace to finish down more than 10% from 2021’s 40.6 million total.
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After including dealer and manufacturer fleet sales, the total fleet share of all sales was 14%, up 2% from April 2021's fleet share.
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In the United Kingdom, new car sales had its worst month since 1998 as new car registrations fell by over 14%.
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Sales are likely to be slightly less this spring selling season.
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But they remain off last year's pace because limited new-vehicle inventory has slowed the gently used segment due to fewer trade-ins.
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Shopper interest in electric vehicles has increased to 66% since January, when gas prices started to rise.
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ActivEngage managed messaging and customer engagement products are available through Cox Automotive Digital Retailing brands, including Dealer.com, Autotrader, Kelley Blue Book, and VinSolutions.
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Seasonally adjusted rates point to an inventory mix with more newer vehicles, which means fewer affordable options.
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