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With low inventory and high demand, incentives dropped to a record low in March, averaging only 3.2% of the average transaction price.
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The Estimated Average Weekly Sales Rate decreased a little last week to 67%, with sellers holding firm to floor pricing.
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The luxury automaker credits strong factory-dealer communications as the reason dealers could sell into the pipeline.
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The first quarter of 2022 came to a close with new-light vehicle sales in March totaling a SAAR of 13.4 million units, a decline of 4.6% compared to February 2022 and a decline of 24.4% compared to March 2021’s SAAR.
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Manheim Market Report values saw weekly price increases that accelerated in each full week of March after the first week saw the smallest decline thus far this year.
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CDK Global has entered into a definitive agreement to be acquired by Brookfield Business Partners for a total enterprise value of $8.3 billion.
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General Motors and Honda Motor Co. announced plans to develop a line of affordable electric vehicles (EVs) with a focus on compact crossovers.
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Tesla Inc. has had to shut down its plant in Shanghai for a total of 12 production days in recent weeks because of China’s COVID-19 lockdowns.
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The seasonally adjusted Retention Index went down to 187.7 points in March 2022 as modified Spring arrives late.
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The month’s SAAR totaled 13.3 million units, down from 14 million in February and off 24.4% from March 2021’s SAAR of 17.6 million units.
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