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As was the case in each of the last prior months, much of the reported increase was a result of the seasonal adjustment.
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One of the biggest changes to come out of the second year of the COVID-19 pandemic is dealers directly wholesaling from their lots.
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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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