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Penske Goes Private, Prices Stall Near Record
One of the industry's largest public dealer groups is leaving the public market. Penske Automotive is going private in a sixteen point three billion dollar deal, CBT News reports. New-vehicle prices sit fifty-two dollars short of December's record, and CBT News says buyers are trading down to cheaper trims instead of stretching for the unit they came in for. Ford has opened preorder invitations for its sub-thirty-thousand-dollar electric pickup, Lexus has shifted thirty-five thousand vehicles to US dealers as global sales slow, and wholesale prices just posted their steepest weekly decline in…
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