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Wholesale prices for the overall market increased in March 2023. Among the 13 truck segments, 11 increased.
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Wholesale prices started in an upward trajectory in the first week of February and continued increasing throughout the month.
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From the week of January 22-28, wholesale truck prices were reported -0.50%. Used vehicle prices also ended 2022 on a steep decline.
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Declines in Manheim Market Report prices, days' supply, and average daily sales conversion rates are following typical patterns for November.
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All eight major market segments saw seasonally adjusted prices that were lower year over year in October.
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Automotive Fleet has released its third report in the new State of the Fleet Industry weekly video series summarizing the latest news in the fleet market, which is presented by AF Editor Mike Antich.
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The average 12-month depreciation through the end of November for all vehicles was 12.5%.
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The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.
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Three-year-old full-size vans retained the most value among trucks, vans, and SUVs in the wholesale used vehicle market, according to Tom Kontos, KAR Auction Services' chief economist.
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