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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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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Electric vehicle sales of all ages hit the highest tally ever recorded for any month-to-date, while sales of used rental cars spiked the under two years segment.
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Analysis/Commentary: Billions have already been deployed toward EV manufacturing, and the industry cannot walk away from it, but we need to find a way to do this profitably.
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The latest numbers on sales, days' supply, and average transaction prices show a growing EV market at the end of 2024.
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Experts at the 2024 Conference of Automotive Remarketing served up some blunt statistics about electric vehicle challenges, but underscored that EVs offer potential and aren't exiting the automotive scene.
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The average daily sales conversion rate increased to 62.5%, showing that demand improved relative to February.
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Tesla’s share fell below 60% for the first time, but the No. 2 seller of EVs in the U.S. – Chevrolet – is a distant second. Numbers will fuel the budding used EV market further.
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EV sales jumped by 68% year over year in Q, and for the first time, EV sales in the U.S. nearly equaled hybrid sales.
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The companies are collaborating on an electric vehicle-specific valuation influenced by the condition of the battery, the most expensive part of an EV.
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