Overall, new EV prices peaked in the summer of 2022, during the last gas price surge, and have since generally declined.
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While some weakening in the market over the Memorial Day weekend is seasonally normal, May saw more market softening in the latter half of the month.
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More used commercial vehicles are being remarketed this year, especially from rental fleets, as fleets replace old vehicles with new ones.
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The latest developments from these companies involve client auctions in Texas, Oklahoma, and Alabama.
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The tool allows sellers to indicate they are committed to selling a vehicle that same day, and buyers can spot ready deals.
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Increases in rental and government fleet sales offset another decline in commercial fleet sales.
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The legendary automotive expert helped develop the remarketing industry's leading resource on valuing and pricing used vehicles for the retail market.
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The 57-year-old operation plans to build its network and broaden its reach to more new and used car dealers as well as regional and national commercial accounts.
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Fleet/lease sales are one factor spurring the volume, with 5-year-and-below vehicle sales up 32% so far this year.
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The total U.S. supply of available unsold new vehicles opened May at 51% above a year ago, but volume is still down 26% from 2019 levels.
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