However, prices for nearly new vehicles (current and one-year-old models) rose 2-percent year-over-year, indicating that program and company vehicles sold by manufacturers in “closed” sales to their dealers performed well above market averages for the month. This is partly due to lower new vehicle incentives, which were down 4-percent year-over-year, according to Edmunds.com. Encouraged by higher prices, manufacturers and their captive finance companies sold-down their inventory levels.
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