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Used Vehicle Prices Climb Higher As Sales Pace Slows
The higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
Read More →The higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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Buyers in the used, new, and remarketed vehicle segments should expect continued growth in used electric vehicle sales as availability increases and retail prices decrease.
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After closing out 2022 with the longest-running, sharpest decline over a single year, wholesale used vehicle prices have risen in 2023.
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In a confidence builder for EVs, fewer than 2% of batteries have been replaced outside of publicized recalls during the last 10 years.
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Although prices are falling, they likely won't decline too much given the tighter inventory compared to 2021.
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CAR 2023: Remarketers should prepare for more of the economic and market conditions that have been shifting widely year to year since 2019.
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The month also ended at near 41 days’ vehicle supply, down from 48 days at the end of January and 13 days lower than February 2022 at 54 days' supply.
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CAR 2023: Consignors and auctions can expect better resales on used electric vehicles if they know how to make the most of incentives, credits, and rebates.
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CAR 2023: Electric vehicles should come with a slow down/caution sign, based on the insights and results from electric fleets in Europe.
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Used vehicle prices are declining in this divergent market. Fleet sales making a comeback compared to last year.
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The auto resale market now offers an array of EVs that can qualify for second-hand status, signaling potential resale hope for electrical fleet vehicles.
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