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Surprice Opens Two Rental Branches In Japan
The launch highlights the global car rental operation’s growing presence in Asia.
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SEARCHMENUSEARCHThe launch highlights the global car rental operation’s growing presence in Asia.
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The agreement is closely aligned with KAR’s digital strategy, and will allow KAR to focus on its portfolio of digital marketplaces.
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Inventory has improved since last summer’s supply drought, but availability remains well below pre-COVID levels.
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The average used-vehicle listing price dipped below $28,000. The inventory volume and days’ supply are both above last year, although sales remain low.
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The latest trends in the key indicators suggest wholesale used-vehicle values will likely see further declines in the second half of the month.
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Production will increase with an easing of the chip shortage later this year and sales will rise. Prices will stay high but likely off their records.
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CAR 2022: No topics are more pressing at this year's Conference of Automotive Remarketing than industry economic and vehicle sales trends coming out of a pandemic and the changes in the consignment and auction markets.
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With record numbers of lease-holders choosing to keep instead of return their leased vehicles, the pool of available CPO-eligible inventory is lower than usual.
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But average transaction prices still linger above MSRP as supply holds steady at the same level since Thanksgiving and customer demand remains strong.
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Combined sales into large rental, commercial, and government buyers were down 36% year over year in January.
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Combined sales into large rental, commercial, and government buyers were down 36% year over year in January. Sales into rental declined 61% YOY, sales into commercial increased 4% YOY, and sales into government declined 23%.
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