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Wholesale Prices Rise

Friday, 19 May 2017 00:31

Average wholesale prices in April were up on both a month-over-month and year-over-year basis.  
According to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class, wholesale used vehicle prices in April averaged $11,141, up 2.2 percent compared to March and up 2.5 percent relative to April 2016.  Compact, mid-size and luxury cars all showed year-on-year price declines of 2 percent or more, while most of the truck segments registered significant year-over-year gains.
Average wholesale prices for used vehicles remarketed by manufacturers were up 2.5 percent month-over-month and up 3.7 percent year-over-year.  Prices for fleet-lease consignors were up 1.5 percent month-over-month and up 3.7 percent year-over-year.
Average prices for dealer consignors were up 5.1 percent versus March and up 3.9 percent relative to April 2016.

Online Scammer Poses as Dealer

Friday, 19 May 2017 00:31

A Texas car dealership is the victim of an imposter scam that targeted Canadian consumers looking to buy luxury vehicles.
The Better Business Bureau received a tip in February from a Canadian consumer who said a con artist had set up a fake website using a Waco store’s name and was scamming Canadians out of thousands of dollars by promising the sale and delivery of luxury vehicles. According to the tipster, who wished to remain anonymous, he was lured into the scam when he answered an ad selling a 2013 Mercedes Benz on the autotrader.ca website.
As a result, BBB contacted Hillside Auto Sales Inc. and spoke to owner Toby Hill. Hill told BBB he too had received several calls from Canadian consumers.
According to the tipster and Hill, the man posing as Hillside Auto Sales goes by the name of Henry Lopez. BBB asked Hill if his company employed anyone with that name, and Hill said they did not.
Hill also confirmed his dealership does not sell any high-end vehicles.
The tipster told BBB after answering the ad online, Lopez emailed him, claiming to be the dealership’s manager. The email directed the tipster to wire more than $30,000, and the Mercedes would be delivered.
BBB also received two complaints from consumers in Canada alleging similar stories.

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