LAKEWOOD, Colo. (KDVR) – No one was hurt after a vehicle ended up in a pool in Colorado on Thursday afternoon.
Police in Lakewood say the incident occurred when a teen driver accidentally put the vehicle — an Infiniti — in reverse. The driver and the adult passenger got out safely. The teen driver has been cited for careless driving.
Police thanked fire crews for helping with the follow-up work, as well as a local towing company that assisted officers in getting the car out of the water.
The incident, while serious, also inspired a few “carpool” jokes on Twitter. But the Lakewood Police offered up their own knee-slapper, which they deemed to be the best possible one-liner.
“Just FYI, the best line for this is ‘Check out our new Infiniti Pool.’ Everyone else is battling for second place.”
But two new reports indicate that things may be starting to cool off.
Wholesale used car prices — what car dealers pay for the cars they sell to customers — fell in the first two weeks of July, while used vehicle inventories at dealerships increased,according to Cox Automotive.
In addition, the retail price of used cars — the amount consumers pay — has continued to increase, but at a slower pace over the past month, according to aseparateCox Automotive report. While it’s not certain yet, Cox Automotive analysts think retail prices will start coming downover the coming weeks.
Getting all the way back to normal will still take a long time, however, said Charlie Chesbrough, a senior economist at Cox Automotive.
Used car prices have been driven to extremes, thanks to a combination of demand from consumers wary of taking public transportation and a major shortage in the computer chips needed to make new cars.
The average price of a used car in the United States passed $25,000 for the first time ever at the end of June, a 26% increase from the year before and up 29% from two years ago.
Wholesale used car prices are also beginning to taper off. According to a recent Manheim Used Vehicle Value Index report, wholesale used car prices, overall, are still up almost 25% compared to a year ago. But, in the first weeks of July, prices dropped 1.7% compared to the month before.
These price comparisons are statistically adjusted for the differing mix of vehicles sold and for normal seasonal fluctuations, according to Cox.
“The latest trends in the key indicators suggest wholesale used vehicle values will continue to see a similar amount of depreciation in the days ahead,” the report said.
Manheim, a subsidiary of Cox Automotive, is America’s largest seller of wholesale used vehicles to auto dealers.
While the used car market is no longer at a full rolling boil, it will take some time for ordinary car shoppers to notice a difference, Chesbrough said.
“This frenzy to acquire inventory is backing off a little bit so the price is starting to come down a little bit,” Chesbrough said. “That generally means that, four to eight weeks from now, on the retail side, we should see the froth come down a little bit, a little bit less upward pressure.”
Used car prices still aren’t expected to return to anywhere near what theywerebefore the coronavirus pandemic anytime soon, he said.
“My sense is that given the supply shortage on the new[car] side, we’re looking at a used market that’s going to be constrained for supply for the foreseeable future,” he said, “and those prices are going to remain elevated as a result.”
CHIPPEWA FALLS, Wis. (WEAU) -Bicycling helped him on the road to recovery after a car crash in 2014. Today he’s using that passion to help others.
“40…45..50…55…60…65…66. 466.” Michael Van Dusseldorp counts the tick marks on the wall of his garage turned bicycle shop called New Life Recyclery.
The marks represent the number of bicycles he has fixed since starting in March.
“Once I get something in my head I just go for it, and that’s kind of what this turned into, and I was like I love this, and honestly now nothing else matters because this is where my heart’s at,” Van Dusseldorp said.
Van Dusseldorp takes bicycles in just about any state. If he can’t fix it up, he can try to use its parts to repair a different bike.
After fixing one up, the next step is to give it to someone in need.
“You can give someone a bus pass, but a bus pass too, it expires or buses only go to certain spots,” Van Dusseldorp said. “With this, they have a bike that is their own. They actually own something which gives them that kind of sense of pride, and it allows them to go anywhere.”
This mobility is a chance at a fresh start.
That’s something bikes helped Van Dusseldorp with after experiencing head trauma from a car crash.
“I was constantly in pain, and just laying in bed feeling sorry for myself, and it got worse and worse which made my depression worse and worse because I felt useless,” Van Dusseldorp said. “It wasn’t until I started doing bikes, and I obviously have to ride and test them and make sure they are okay after I fix them, and I started doing that, and I was like oh, I actually feel kind of better.”
One bicycle at a time, Van Dusseldorp said his greater goal is to let those who may be homeless know that someone cares.
New Life Recyclery is expanding its services.
It also offers food, tents, work boots and more for those experiencing homelessness.
To find out more or for details on how you can help, click HERE.
In the news release, Penske Automotive Group and Cox Automotive Debut Automated Platform for Retailing Used Vehicles, issued 22-Jul-2021 by Penske Automotive Group, Inc. over PR Newswire, in the first sentence of the second paragraph, Cox Automotive’s technology should be “Esntial Commerce” and not “Essential Commerce”, as originally issued inadvertantly by PR Newswire.
Penske Automotive Group and Cox Automotive Debut Automated Platform for Retailing Used Vehicles
Digital Platform Enables Consumers to Transact 100% Online
BLOOMFIELD HILLS, Mich. and ATLANTA, July 22, 2021 /PRNewswire/ — Penske Automotive Group, Inc., (NYSE:PAG) and Cox Automotive, Inc. (“CAI”), announced today they have jointly developed a transformational, fully automated technology platform to enable the online retail sale of used vehicles. The automated online buying platform, which is owned exclusively by Cox Automotive,allows consumers to select from high-quality, preowned vehicles through PAG’s U.S. CarShop used vehicle SuperCenters and franchised dealerships.
Cox Automotive’s patent-pending artificial intelligence retail technology, Esntial Commerce™, powers CarShop’s U.S. digital platform to provide consumers with an automated,100% online vehicle purchase. Features include personalized monthly payments across all inventories, trade-in capabilities, application, approval for financing, digital contracting, and digital signatures.
Esntial Commerce offers payment personalization based on the consumer’s risk profile, selected vehicle, and preferred deal structure using an AI/machine learning algorithm. Offering actual financing and the ability to immediately transact online allows consumers to move forward confidently, knowing their financing has been approved.
This industry-first scalable eCommerce platform and its artificial intelligence enable automation for retail operations so that consumers can:
Instantly compare up to four vehicles
Receive personalized payments for the consumer’s selected vehicles based on each consumer’s credit profile, including payments for taxes, titling, and other fees
Select their payment terms based on credit profile
Add aftermarket protection products
Determine trade-in value
Receive approval for financing
Complete and sign deal paperwork online
Make any required down payment
Arrange for delivery directly to the consumer’s preferred location, either at home or one of CarShop’s U.S. locations
CarShop is the first retailer in-market with Cox Automotive’s industry-leading solution. Penske Automotive Group Chair Roger Penske said, “Over the last year the PAG and CAI teams have collaborated on this unparalleled technology that delivers a completely digital solution to the marketplace. This new digital platform meets the digital-first demands of today’s customer while providing us with the opportunity to offer our customers 100% online functionality.”
“Penske’s CarShop powered by Cox Automotive Esntial Commerce delivers personalization, F&I automation, and a seamless closing of the transaction when buying a vehicle online,” said Steve Rowley, President, Cox Automotive. “No one has delivered an automotive eCommerce solution that can scale to support the industry’s transformation for retailers and for consumers – until now. As our solution matures, we expect it to drive both consumer satisfaction and profitability.”
PAG has launched this fully functioning digital platform in select markets through its CarShop used vehicle SuperCenters at www.carshop.com. Cox Automotive continues to focus on development to further enhance the user experience, operational efficiencies, market