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Tough Time for Dealers Seeking Inventory as Wholesale Values Soar

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Automotive News, July 13, 2020 – As new-vehicle inventory at dealerships wanes across the U.S., more shoppers are turning to used cars, leading to record-high auction prices as dealers scramble to replenish their stocks.

For the wholesale market, it marks a quick snap back from a steep decline in the spring. And while dealers now have no problem unloading vehicles at auction, obtaining used vehicles they can sell is now trickier — and much pricier. Cox Automotive reported last week that prices for vehicles sold at its Manheim auction unit in June were the highest in the 25 years it’s been tracking the data.

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