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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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Average wholesale prices increased in April from March and from a year ago on the strength of truck values, but several benchmark segments in fleet lease sales are showing weakness, said Tom Kontos in his monthly commentary.
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Used vehicles increased 0.4% in value in April, as buyers boosted the value of smaller cars, which have begun to shrug off several years of heavier declines, according to Black Book.
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Overall wholesale used-vehicle prices (on a mix-, mileage-, and seasonally-adjusted basis) improved 0.5% month-over-month in April. On a year-over-year basis in April, only pickups saw gains greater than the overall market.
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Used vehicle values increased slightly in April as tracked by Black Book's Used Vehicle Retention Index that measures values of 2- to 6-year old vehicles, according to the company.
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Wholesale market values remain healthy as overall car values continue to increase and truck values remain flat, according to Black Book’s April 25 Market Insights report.
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In March, prices were down 2.5% year-over-year for current and one-model-year-old units and down 2.6% for three-model-year-old units, according to ADESA. Overall, wholesale used prices were up 2% compared to February and up 1% year-over-year.
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High vehicle demand delivered strong showings across nearly all vehicle segments in the past week, according to Black Book’s April 17 Market Insights report.
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While wholesale used-vehicle prices declined by 0.5% in March, the Manheim Used Vehicle Value Index — a measure of wholesale prices adjusted for mix, mileage and season — came to a reading of 124.1. This is an increase of 1.3% from a year ago.
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Tom Webb will retire as Cox Automotive's chief economist after a more-than-four-decade career, where he became a leading voice about the economic health of the automotive industry.
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Both cars and trucks realized a healthy seasonal boost to wholesale performance last week, according to Black Book’s March 27 Market Insights report. Depreciation among light trucks was at one of the lowest levels seen all year, and the overall car segment actually saw wholesale values appreciate.
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