
EV sales may experience some tailwinds, leading to robust activity through the end of the year.
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The average transaction price for new EVs has slightly decreased and used EV prices are nearing parity with those of traditional vehicles.
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Analysis: Slowing EV adoption, an expensive UAW labor contract, and higher consumer interest rates will diminish the profits and gains of recent years.
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New-vehicle sales in May are expected to total 1.53 million, essentially flat compared to the same time last year, according to Kelley Blue Book.
Read More →New-vehicle sales in April are expected to fall 3% year over year to 1.45 million units, resulting in an estimated 17.1 million seasonally adjusted annual rate (SAAR), according to analysts at valuation and data provider Kelley Blue Book.
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Rising interest rates will have a minimal effect on the used car market today. However, the used-car market is poised to suffer, in the longer term, as federal interest rates continue to rise, one expert said.
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