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Strong spring sales thanks to tax refunds and stimulus checks depleted the supply.
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Cox Automotive has acquired fleet mobile maintenance provider Dickinson Fleet Services to bolster the capabilities and geographic reach of its nationwide Pivet fleet services marketplace, and focus on powering a fleet future that is dependent on mobile maintenance and repair services.
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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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Full-size pickups trucks had only a 69 days’ supply as of July 6, 2020. Mid-size trucks were fewer at 45 days’ supply.
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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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The chief economist at Cox Automotive analyzes the automotive big picture in terms of vehicle sales, consumer sentiment, retail sales, and federal rates.
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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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