During the last two weeks, Manheim Market Report (MMR) prices declined an aggregate of 0.3%, which was less than half of the normal decline for this time of year.
After a 41-year career at Cox Automotive, current CFO Mark Bowser will retire this year and Senior Vice President of corporate development Scott LeTourneau will take his place on September 19.
Amid a nationwide shortage of truck technicians and automotive mechanics, the fleet services division finds a way to keep and train enough vocational talent for long-term careers that meet maintenance demand.
The conversion rate indicates that the first 15 days of August saw buyers with more bargaining power for this time of year.
While the total supply of unsold used vehicles is down from the same time a year ago, they are up from the end of June.
The deal further positions Cox Mobility in the fleet maintenance sector and expands its servicing of light, medium, and heavy-duty trucks and trailers.
While sales stalled a bit after mid-February compared to 2022, at mid-year the market is not getting worse with small percentage increases.
Upside provides a way to generate profits in wholesale or retail, so they can take in more trades and close more retail deals, and is a way to link buyers and sellers nationwide.
While inventory is up substantially compared to 2021 and 2022 levels, it remains low by historical standards.
Compared to the start of the year, transaction prices for new vehicles are down 1.7%, or $865, the largest January to June tumble in the past decade.
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