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After diving by 3.5 percent in October, the rate of used-vehicle depreciation slowed substantially to 1.5 percent in November, pushing the NADA Used Car Guide’s seasonally adjusted used vehicle price index to its highest point of 125.6.
The index, which measures the change in prices for used vehicles up to eight years old, is up 1.8 points from October's figure of 123.8, surpassing the previous high of 125 set in December 2012.
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Cox Enterprises Inc. and Providence Equity Partners announced a definitive agreement by which Cox has acquired Providence Equity's 25 percent equity interest in AutoTrader Group.
Cox Enterprises now holds a 98 percent stake in AutoTrader Group, with the remainder being held by current and former employees. Financial terms of the transaction were not disclosed.
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GE Capital Fleet Services’ recently hosted its 15th annual Remarketing by GE Imagination at Work Awards in South Barrington, Ill.
The ceremony recognizes best-in-class performances of auction suppliers who contributed remarkable results for GE Capital Fleet Services’ customers in 2013.
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Manheim announced that Julie Picard, market vice president of Manheim’s Pacific Market, has been named general manager and vice president of Manheim Pennsylvania.
Picard replaces Tim Van Dam, who was named market vice president of Manheim’s Northeast Market earlier this year. Picard reports to Van Dam and began her role on Jan. 1.