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.
Domestic sales of EVs benefitted from strong incentives from the automakers, excellent lease deals, and federal and state incentive programs.
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Analysis: It appears the period of used-vehicle price correction is over with the market coming down from pandemic peaks.
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Wholesale values declined slightly more than usual at year-end, but it was still the most normal year for depreciation trends since 2020.
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Used-vehicle sales were seasonally stronger than normal last month and higher year over year by 13%.
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Used EV sales rose a whopping 63% so far year over year, while new EV sales increased about 14%.
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Many buyers waiting for the best deals realize now is the time to buy a vehicle before the new Administration's possible policy changes.
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Tight supply in wholesale and retail vehicle markets will support healthy dealer demand through December.
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EV sales may experience some tailwinds, leading to robust activity through the end of the year.
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The average transaction price for new EVs has slightly decreased and used EV prices are nearing parity with those of traditional vehicles.
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Retail used-vehicle sales have also increased for five consecutive weeks, and that should keep dealer demand for wholesale units elevated in the coming weeks.
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