New Vehicle Supply Highest Since June 2021
But don't get too excited. Days supply is still far below historical levels and production has yet to catch up to demand.
But don't get too excited. Days supply is still far below historical levels and production has yet to catch up to demand.
The average price paid for a new vehicle in America now tops $48,000. Supply of popular segments – like subcompacts, hybrids and EVs – remain low.
Combined sales into large rental, commercial, and government fleets were up 14.6% year over year in August.
IARA Summer Roundtable: Electrification expert Kristin Slanina supercharged the annual consignors and remarketers conference with a step-by-step hopeful outlook for adopting, using, and reselling EVs.
IARA Summer Roundtable: One ongoing effort among consignors, dealers and auctions is coming up with reliable and consistent standards for valuing used electric vehicles. Most recently, EV expert Kristin Slanina gained firsthand experience on EV performance during the Charge Across America race.
The average price for a new electric vehicle – over $66,000, according to Kelley Blue Book estimates – remains well above the industry average and more aligned with luxury prices versus mainstream prices.
Sales into commercial fleets were up 19% year over year, and sales into government fleets were up 31%, but rental were down 7%.
The drawn-out vehicle shortage is producing a domino effect of issues for many fleet segments, says Cox Automotive’s Jonathan Smoke, but a potential recession may have a silver lining — if we even have one at all.
Rising interest rates and low consumer sentiment are keeping many potential buyers out of the market while higher gas and vehicle prices are decreasing affordability.
Q2 sales of battery electric vehicles increased to 196,788, a record high and a 13% increase from last quarter.
Although economic conditions are worsening, the lack of supply is still the greatest headwind facing the auto industry.
The typical monthly payment hits a record of $712.
As gas prices surged to record levels, inventory of imports, especially smaller, fuel-efficient models, including hybrids, was among the lowest in the industry at the end of May.
Electric trucks are hitting the market as manufacturers struggle to keep up with consumer enthusiasm and demand, according to a Recurrent study.
Kristin Slanina draws on a career of engineering, technical expertise, and electric vehicle racing to show what remarketers can expect from EVs in the years ahead.
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