Mixed Messages on Vehicle Values with Added Hope for EVs
CAR 2024: An expert executive from JD Power shares the global firm’s latest analytics and insights on the used and new vehicle markets and the current and future state of electric vehicles.
CAR 2024: An expert executive from JD Power shares the global firm’s latest analytics and insights on the used and new vehicle markets and the current and future state of electric vehicles.
CAR 2024: An all-star panel of economists and data analysts find that used/wholesale vehicle prices and values will remain above the previous “normal” levels last seen in the late 2010s.
The 1.66 million used vehicles sold at retail are up 11% year over year compared to March 2023 and the highest volume since March 2022.
Used-vehicle sales in the period were up more than 5% year over year, in line with spring fever and the tax refund season.
This was the first time the Manheim Market Report index reading has been under 200 since March 2021, illustrating the outsized moves in the index over the last three years.
CAR 2024: The latest analysis from the National Auto Auction Association shows a stabilizing auction sector moving faster but still a long way from pre-pandemic years.
CAR 2024: Unlike a combustion engine, an EVs long-term value is maintained daily, based on the unique charging habits and battery management of its owner.
Fleet/lease sales were responsible for the increase in auction volume in the first quarter as dealer sales fell 5.4% YOY and fleet/lease sales rose nearly 29%.
The average daily sales conversion rate increased to 62.5%, showing that demand improved relative to February.
The devices will capture electric vehicle battery health information and transmit that information to Manheim CRs and vehicle detail pages, where battery health information will be displayed on Manheim.com listings.
Prices in all vehicle market classes dive by double-digit teen percentages with electric vehicles down the most by 19% compared to March 2023.
Total days’ supply at the start of March fell to 44, compared with the revised 53 at the beginning of February, a 20% decline.
The latest numbers more activity in the lanes at Manheim in the second half of the month and finished the last week of February with some of the strongest weekly gains in wholesale prices for many years.
CAR 2024: The Conference of Automotive Remarketing will bring together four leading economists and analysts for an annual presentation and discussion.
As the wholesale market returns to a new normal following the pandemic, this seminar looks at an overview of the current market, including inventory and pricing, as well as emerging trends.
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