At the end of November, unsold used vehicles on dealer lots was about 4% higher than a year ago, with an average list price of $27,156.
Three of Cox's companies are partnering up to help navigate the challenges of finding more vehicles in a constricted market.
To date, 20 vehicles from 13 manufacturers will be on display and available to drive at the 2022 Fleet Forward Conference.
Hurricane damage, high interest rates, softening used values, and a slowing economy will all have some effect on the coming used vehicle market. The greater issue is even lower sales — as the historic decline in the lease return rate from 2022 meets up with a big drop in lease maturities and lower dealer consignments.
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.
Peter Grupposo succeeds Holly Capps overseeing the commercial sales, dealer sales and market insights teams for Manheim and NextGear Capital.
The partnership between Cox Automotive Mobility and Spiers New Technologies adds new service centers to support the transition to electric vehicles.
The Commercial Vehicle Safety Alliance plans to address a growing problem of brake systems and brake adjustment violations during its annual Brake Safety Week running Aug. 21-27.
While prices and supply stabilize somewhat, the overall supply is far below historical levels, said Charlie Chesbrough, Cox Automotive senior economist.
According to data from Kelley Blue Book, the average transaction price (ATP) for a new vehicle surpassed the $48,000 mark in June, the highest ATP on record.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In
