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.
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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The enhanced technology allows rental car operations, dealerships, and auctions to compare a vehicle’s condition at pickup and drop-off within the same rental or loaner record.
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Solid demand at Manheim auctions with higher sales conversion rates indicate an appetite from dealers to buy.
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Near-term EV market performance is expected to remain uneven, while elevated new-vehicle inventory and softer consumer demand may continue to pressure sales and pricing.
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Winter snowstorms and frosty freeze-overs could not slow down the hot vehicle auction action nationwide in January.
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Wholesale values moved even faster than expected on the back of strong retail demand, driving the MUVVI to its highest reading since September 2023.
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The $20 million in Series A funding from Lightspeed will enable Plug to boost supply, develop more technology, and widen wholesale and retail sales channels.
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2025 figures show a steady recovery in wholesale vehicle activity this decade.
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