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Three of Cox's companies are partnering up to help navigate the challenges of finding more vehicles in a constricted market.
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Cox Automotive Mobility will help fleets convert to electric vehicles and modernize while expanding its fleet of mobile service trucks outfitted with on-demand charging for EV fleet customers.
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Peter Grupposo succeeds Holly Capps overseeing the commercial sales, dealer sales and market insights teams for Manheim and NextGear Capital.
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The partnership between Cox Automotive Mobility and Spiers New Technologies adds new service centers to support the transition to electric vehicles.
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While prices and supply stabilize somewhat, the overall supply is far below historical levels, said Charlie Chesbrough, Cox Automotive senior economist.
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The downward trend continues, as June CPO sales were down 1% from May’s sales stats.
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Compared to last month, wholesale used vehicle prices are down 1.3%, but year over year, prices are up 10.7%.
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May’s CPO sales result is the lowest since February, also down over 22% from May 2021.
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Despite the interest in EVs, cost remains a critical barrier for fleet managers, particularly the larger upfront costs known to deter EV adoption.
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The average listing price reached $25,500 as July closed, after surpassing the $25,000 mark for the first time ever in June.
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