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Rising incidences of Coronavirus exterior mainland China have been sending jitters to traders. Over the past month, U.S. car giants General Motors GM and Ford F shares have depreciated 12.8{0995643d07225b844baadbc1e6b0d2b8ea73bc2bd98af3cca8b20a61a6b88544} and sixteen.1{0995643d07225b844baadbc1e6b0d2b8ea73bc2bd98af3cca8b20a61a6b88544}, respectively. Other foreign auto biggies like Volkswagen VWAGY, Nissan NSANY and BMW AG have also recorded double-digit declines in the past month. Less obvious pressures on used car values come from the straightforward truth that every vehicle on the street will rejoice a birthday within the fall when the 2021 fashions fill showrooms.

Cash-strapped rental automotive corporations and industrial fleets are defleeting as a result of reduced demand. …