
Chip shortages and surging demand are squeezing used vehicle sales while inflating prices.
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Strong spring sales thanks to tax refunds and stimulus checks depleted the supply.
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The installation at Cox Mobility’s Pivet Atlanta facility includes 20 Level 2 fleet chargers, six fleet DC Fast Chargers and six public DC Fast Chargers.
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Wholesale used vehicle prices increased 5.84% month over month in July, bringing the Manheim Used Vehicle Value Index to 158 a 12.5% increase from a year ago and another record-high for the Index, which also occurred in June.
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New vehicles priced between $30,000 to $40,000 are in the shortest supply while those priced below $30,000 have the highest inventory, according to a Cox Automotive
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The COVID-19 pandemic is still plaguing the light vehicle market, but May’s sales pace is still expected to be a giant step forward on the path to recovery.
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Rivian has closed an investment round of $1.3 billion, the fourth investment the battery-electric truck and SUV startup will receive in 2019.
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Battery-electric truck and SUV startup Rivian has added a third, large investor this year with a $350 million stake from Cox Automotive, the company announced today.
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Nick Peluso, a 30-year veteran of the remarketing industry and leader at Manheim since digital auction sales were a burgeoning idea, will retire at the end of the year.
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Manheim's president who oversees the inventory solutions unit offers thoughts on fleet mobility services, bringing artificial intelligence to inspections, and the company's diversification strategy.
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