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August supply improves to highest level in nearly 2 ½ years, Cox Automotive says.
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Holiday shopping didn’t stop supplies from surpassing previous year highs.
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Cox Automotive says it's soared 350% while consumers put off EV purchases over pricing and charging concerns.
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Double-digit increases in the automaker’s top-selling nameplates drove the increase.
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Company cites the impacts of lower used-vehicle availability and higher wholesale pricing as the reasons.
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May supplies reached 1.96 million, well above a year earlier, though still under historical norms.
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Economic headwinds are not deterring sales, Cox Automotive analysts find.
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Still off historical norms, improvement leads to more sales.
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More cars are available, but record prices and rising interest rates will challenge customers.
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