The latest sales data point to several reasons for the divergent trends in new and used EVs that can factor into fleet cycling decisions.
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The higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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While EV sales declined, used EV sales grew, as tighter inventory and rising prices reflected a more normalized pace for the EV market.
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Franchised and independent dealers had a total of 1.95 million used vehicles in stock in March, the lowest on record in the current data set.
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Demand signals remain strong at auctions, with sales conversions, a clear sign of demand, reaching 68.2% in the most recent measure.
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New EV sales declined year over year in February while used EV demand rose, as prices fell and inventory tightened across both segments.
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Solid demand at Manheim auctions with higher sales conversion rates indicate an appetite from dealers to buy.
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Winter snowstorms and frosty freeze-overs could not slow down the hot vehicle auction action nationwide in January.
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2025 figures show a steady recovery in wholesale vehicle activity this decade.
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November EV data shows sales falling to multi-year lows as inventory builds and pricing softens following the expiration of federal tax credits.
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