Used vehicle prices increased during pandemic due to lack of inventory

DETROIT (AP) — It cost a whole lot more to buy a used SUV, car, truck or van last month than it did before the coronavirus hit and that almost singlehandedly caused September’s modest consumer price increase.

Blame it on the pandemic, which knocked supply and demand way out of whack, causing prices to spike.

The good news is that inventories are being replenished and prices are beginning to drop.

“The law of supply and demand worked,” said Earl Stewart, owner of a Toyota dealership in North Palm Beach, Florida. “I think things are coming back to normal.”

When the novel coronavirus made its way to the industrial Midwest and the South in March and April, it forced automakers to shutter factories and many dealers closed. Sales of new vehicles tanked. With few vehicles being traded in for new ones, and leases being extended, the supply of used vehicles dried

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Improving Auto Demand And Increased Likelihood Of Change Driving New Interest In ON Semiconductor (NASDAQ:ON)

I’ve had an odd “relationship” with ON Semiconductor (ON) over the years, with management’s inability to hit margin targets (and inability to drive margin leverage) and questionable M&A decisions factoring prominently into the negative side. On the other hand, I’ve always liked the potential of what ON could be under the right circumstances, and the shares have done pretty well since my last two positive write-ups (in a strong market for chip stocks, I’ll note).

With the CEO on his way out, I think ON Semiconductor’s capacity for change is higher now than ever before, and apparently I’m not the only one who sees upside in a differently-run ON, as Starboard has also gotten involved as an investor. On top of all that, guidance updates from companies including Sensata (ST), STMicro (STM), and NXP (NXPI) have all confirmed an improving environment for the key auto end-market.

At today’s price, there’s

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Hyundai i20 Discounts Increased To 75,000

The brisk selling Hyundai Venue and Creta are not being offered with any cash discounts

With the next generation Hyundai i20 slated to be launched in India soon, its predecessor is being offered with the highest ever cash discount it has witnessed in its lifespan. Rushlane has learnt that, for the month of October 2020, Hyundai has instructed its dealers to offer a flat cash discount of INR 50,000.

Hyundai i20 discounts

In addition the INR 50k cash discount which is available for all, the company will also offer an addition discount of INR 20k in the form of exchange bonus and INR 5k for corporate/POI customers. So, if you are a corporate customer who is looking to exchange your current car for a current gen Hyundai i20, you can drive away with overall discount of INR 75,000. The offer, however, is not application to the Magna+ variant.


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