The latest numbers on sales, days' supply, and average transaction prices show a growing EV market at the end of 2024.
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Leaders with more than 130 years of combined Manheim experience are starting new positions in managing auction operations around the U.S.
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The acquisition enhances operations and simplifies processes for auctions, and dealers in the digital space.
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The market moves reflect an ideal blend of improved consumer sentiment, bigger discounts, and evident optimism in the market.
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Lower interest rates, more incentives, and increased incomes could not offset the effects of higher prices, which drove down affordability.
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Domestic sales of EVs benefitted from strong incentives from the automakers, excellent lease deals, and federal and state incentive programs.
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Commercial sales were the primary reason for 2024’s increase in sales, with broad-based growth across rental, commercial, off-lease, and repo units.
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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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Rental fleet vehicles gained the most and totaled almost half of all fleet sales last year.
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