The electric vehicle market looked like a grab bag of trends as industry pressures and market dynamics shift.
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The key metrics of the used vehicle market are either slightly down or barely up, but affordability remains a challenge.
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April figures show an electric vehicle market facing several challenges that reflect broader economic trends.
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As the effects of the “spring bounce” and initial pull ahead from tariffs diminished, sales decreased in April.
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With over 70 models available, competition in the EV market is fierce. The new EV price premium over ICE+ vehicles increased to $12,229, the highest in two years.
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Commentary/Analysis: Look for likely higher prices across the broader economy, with the auto market heading into uncharted territory — a rough road indeed.
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CAR 2025: A JD Power expert ties together the leading automotive sales and supply trends among vehicle buyers facing the disruptions of impending tariffs this month.
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Analysis: Experts from Cox Automotive say in the near term, after a short surge in buying, vehicle sales will likely fall amid price increases, and OEMs may eliminate some models if tariffs persist.
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Manheim Market Report (MMR) values saw some volatility but ended with stronger price appreciation in the last week of the month, with values rising 0.2% in the last week alone.
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The tightening of days' supply for new and used electric vehicle markets shows healthy consumer interest.
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