U.S. wholesale prices jump third month in a row as travel costs climb

ECONOMIC REPORT

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The numbers: U.S. wholesale costs rose sharply in September for the third month in a row, but the recent upturn largely reflected prices returning to normal after the economy reopened and not a sustained increase in inflation.

The producer price index jumped 0.4% last month, the government said Wednesday. Economists polled by MarketWatch had predicted a 0.2% advance.

Most of the increase last month in wholesale prices was tied to a partial rebound in the cost of hotel and travel-related services after more people ventured out toward the end of the summer. Businesses were forced to slash prices last spring when lockdown orders and fear of catching the virus kept most customers away.

Inflation in the U.S. was still quite tepid. Wholesale inflation has risen just 0.4% in the past year, marking the first positive reading in six months. Typically wholesale prices start to

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Two traders, barely 40 mts apart, robbed at gunpoint at wholesale market in Ghaziabad





© Provided by Hindustan Times


Ghaziabad: A group of four armed men performed two robberies back-to-back at the busy Kirana Mandi wholesale market early Saturday. The police said that they have registered FIRs for robbery and are trying to trace the gang.

According to the two victims, the first instance took place when trader Ankit Garg was supervising the loading and unloading activities at his godown. The market is one of the busiest markets in the city, located in the heart of old Ghaziabad.

“It was about 6.15am when a car stopped nearby and two men approached me, while two others remained in their car, which was a Swift. They were wearing face masks, which we use to curb the spread of the coronavirus (Covid-19) pandemic. Soon, they pulled out pistols and pointed them towards me. Then, they started pulling out the gold rings and bracelet which I was wearing.

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A.M. King starts construction of cold distribution center for Combs Wholesale Produce Co.

A.M. King has begun construction of a USDA-certified, greenfield distribution facility for Combs Wholesale Produce Co. The 40,000-sf structure, when complete, will allow the company to move to a larger, more modern space and capitalize on its expanding product lines and customer base. The project is scheduled to be complete by April 2021.

Combs Wholesale Produce is a full-service supplier of fresh produce, dry goods and items such as old-fashioned candies and glass-bottle sodas. Customers include wholesalers and food service companies, grocery stores and retail markets across Virginia, North Carolina and South Carolina.

The company has outgrown the original Combs Wholesale Produce facility that was built in 1978 and the owners were ready to move into a new facility that would handle both current business and future growth. “Our current facility was built to sort and store tomatoes,” explains Ben Combs, Vice President, Combs Wholesale Produce Co.

While most new

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Streak of record wholesale vehicle prices end, but values remain strong

CARY, N.C.  – 

During Wednesday’s quarterly Manheim Used Vehicle Value index call with the industry, Cox Automotive chief economist Jonathan Smoke began his opening comments with this update.

“On this call, we find the industry and used-vehicle values having performed very strongly in the last quarter, but September marked an important change,” Smoke said. 

For one, that change involved the end of a months-long string of used-car pricing records.

Though still up substantially year-over-year, the record streak in wholesale vehicle prices has stopped at three months, according to analysis around the latest index.

Wholesale prices last month were down 1.58% from August, the first sequential decline in four months, says parent company Cox Automotive.

The resulting Manheim index was still up 15.2% year-over-year at a lofty 161.2, but failed to reach the record levels set in August, July and June.

“After three consecutive months of record-setting price gains this spring

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Wholesale Prices Cool in September After Three Months of Record Highs

ATLANTA, Oct. 7, 2020 /PRNewswire/ — Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.58% month over month in September, the first month-over-month drop in wholesale values since May. The Manheim Used Vehicle Value Index for September was 161.2, a 15.2% increase from a year ago.

Manheim Market Report (MMR) prices declined at an accelerating pace over the four full weeks of September, resulting in a 2.9% cumulative decline on the Three-Year-Old Index. In the last full week of September, the Three-Year-Old Index declined 0.9%, which was the biggest weekly decline in 22 weeks. MMR Retention, which is the average difference in price relative to current MMR, averaged 99.5% for the four full weeks of September. The sales conversion rate averaged 58.8% over the same period, which was a decline from August and much more typical for this time of the year.

On a year-over-year

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Lane watch: Wholesale atmosphere improves for independent dealerships

LAWRENCEVILLE, Ga. – 

Fall’s arrival appears to be bringing welcomed relief for independent dealerships looking to build their inventory. Black Book explained why through its latest COVID-19 Market Insights released on Tuesday.

Analysts recapped in the report, “This past week, we saw more independents being the successful bidder. This is a welcome sight as we’ve talked to so many buyers that struggled over the summer to compete with the money the larger buyers were willing to spend to secure inventory.”

Not only are those larger buyers such as CarMax and Carvana easing back, Black Book is seeing that independent stores and dealerships in general aren’t having to dip into the floorplan funds as much for wholesale units.

According to volume-weighted data, analysts determined that overall car segment values decreased 0.66% over the last week. That decline nearly doubled the figure Black Book recorded during the prior week when car

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Those full-size pickups keep wholesale prices climbing





LAWRENCEVILLE, Ga. – 

Full-size pickups are built for hauling capability, and these particular vehicles certainly are carrying wholesale prices higher.

Referenced by KAR Global chief economist Tom Kontos, as well, Black Book senior vice president data science Alex Yurchenko described what full-size pickups did to wholesale prices as Black Book shared its Used Vehicle Retention Index for September.

According to the newest reading released on Monday, the index rose 1.8 percentage points from August to September to land at 130.8.

“Overall, the Index increased slightly in September,” Yurchenko said in a news release. “The increase was driven mostly by the strength of the full-size pickup segment in the first part of September as most of the other segments saw a drop in the index.

“We expect the continuation of weakening of most of the segments including full-size

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Pickup prices continue to be noteworthy in KAR Global’s latest wholesale data

CARMEL, Ind. – 

If Tom Kontos wanted to speak in the language of his nationality when describing wholesale prices for pickups, the KAR Global chief economist would say “idiaítera dynatós,” which is Greek for “particularly strong.”

Pickups are among the seven vehicle segments with wholesale prices at least 26% higher than a year ago, according to the August Kontos Kommentary released on Thursday.

Overall, KAR Global Analytical Services monthly analysis of wholesale used vehicle prices by vehicle model class showed that wholesale prices in August averaged $13,498 — up 0.9% compared to July, up 19.1% from pre-COVID/February and 20.1% higher than August of last year

“Wholesale used-vehicle prices continued to outperform expectations in August and well into September, especially when looked at on a year-over-year basis. On a month-over-month basis, however, August prices were fairly flat relative to July,” Kontos said.

“Weekly data on prices and conversion rates in late

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How did the CRTC block its own wholesale internet prices?

Like a car in bad traffic, the CRTC’s wholesale internet rate has once again been halted, this time by the CRTC itself, the entity that issued it in the first place.

The new stay, announced on Sept. 28, came less than a month after the Federal Court of Appeal dismissed its stay on Sept. 11.

Why this matters

The new stay marks the latest development in the years-long bickering between independent internet service providers (ISP) and incumbent cable carriers. In Telecom Order 2019-288, the CRTC set a lowered wholesale internet price that incumbents claim would stifle their investments into Canada’s networks. They argued that the new pricing is below their rates and unsustainable, which could impact efforts to bring high-speed internet and 5G into rural areas.

Due to a cohort of factors–mostly heavy resistance by the incumbents–the CRTC’s new rates were never instantiated. The cost determination is complex and, if

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Maruti Suzuki’s wholesale dispatches rise 33.4% in September

NEW DELHI: Aided by a quick recovery in demand for entry-level cars, hatchbacks and utility vehicles, Maruti Suzuki India Ltd on Thursday reported a 33.4% year-on-year growth in domestic wholesale for September to 1,50,040 units.

The country’s largest passenger vehicle manufacturer had sold 1,12,500 units in the year-ago period.

Factory dispatches also improved from August , when the company had sold 1,15,325 units while sales in July numbered 1,00,000 units. Maruti resumed production at its Manesar plant from May 12, with dispatches at 13,865 units for that month.

The growth in wholesales though comes on a very low base, with the company reducing production due to falling demand for vehicles and transition to Bharat Stage-VI emission norms. Maruti, typically, manufactures 1.5 lakh vehicles in a month. In FY20 the company reported 17% decline in sales.

Hatchback sales grew 44.3% year-on-year to 1,11,459 units in August, while those of utility vehicles

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