
But days’ supply climbed to 43 in September, the highest it has been in months, on higher inventory and slower sales.
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Double whammy: New-vehicle inventory falls below 1 million units in September while the average new vehicle price tops $45,000 for the first time.
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The lack of new-vehicle inventory is steering many dealers and consumers into the used-vehicle market, resulting in higher prices for both wholesale and retail used vehicles.
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After edging higher for a couple of months, available supply dipped by the end of August.
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Tight vehicle inventory continues to vex the auto industry while high prices deter buyers.
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The profit index sets another record high, while the price pressure index increased modestly.
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A recent quarterly report from Haig Partners shows that buy-sell activity among auto dealerships has exploded, leading to "empty lots and overstuffed wallets."
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As August opened, inventories were running 53% below 2020 levels and 68% below 2019 levels.
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The current low-supply, high-demand situation means finding and buying a new vehicle may be a challenge.
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Check out what is top of mind for North American fleet professionals on the issue of inventory constraints and vehicle availability.
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