Quarterly sales of electric vehicles break the 250,000 mark while rising to 7.2% of total vehicle sales in the U.S.
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The average price for a new vehicle in March fell below sticker for the first time in 20 months, according to KBB.
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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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CAR 2023: The annual messages from the National Auto Auction Association and International Automotive Remarketers Alliance presidents homed in on the volume of industry activity and macro-influences on the market.
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The movement of new vehicles into fleet increases at a consecutive monthly pace with supply freeing up after several years of constraints, according to Bobit fleet data.
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CAR 2023: Recipients of the IARA Circle of Excellence, CAR Remarketer of the Year, and CAR Consignor of the Year awards swept the stage with industry accomplishments.
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The company names a new leadership team as it refocuses on the next versions of detailed digital vehicle photos and images used in auctions.
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Hallett served in an active 25-year career with KAR Global but he will still keep his seat on the company's board of directors.
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Overall sales are up in the quarter, including for fleets. However, headwinds are growing and inventory levels are moving back above the pre-pandemic normal, suggesting a slowing of demand.
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