News/Media Release
Staff
Our editorial staff has selected and edited this news release for clarity and brand style because we believe it is relevant to our audience.
Staff
Our editorial staff has selected and edited this news release for clarity and brand style because we believe it is relevant to our audience.
The latest sales data point to several reasons for the divergent trends in new and used EVs that can factor into fleet cycling decisions.
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The higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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Trends continue to normalize after a strong start to the year, as consumers contend with higher gas prices in the coming summer months.
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While EV sales declined, used EV sales grew, as tighter inventory and rising prices reflected a more normalized pace for the EV market.
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The Iranian conflict and rising gas prices inject much uncertainty into the future wholesale used vehicle markets, as higher gas prices soak up spendable income from vehicle buyers.
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CARA recently opened up a part-time executive director position and appointed Johan Verbois for the role.
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Franchised and independent dealers had a total of 1.95 million used vehicles in stock in March, the lowest on record in the current data set.
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Demand signals remain strong at auctions, with sales conversions, a clear sign of demand, reaching 68.2% in the most recent measure.
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New EV sales declined year over year in February while used EV demand rose, as prices fell and inventory tightened across both segments.
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The company has processed more than 10 million pounds of EV battery black mass, highlighting growing demand for recycling and lifecycle management as more electric vehicles enter the used market.
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