Remove 2022 Remove Electricity Remove Used Cars
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Cars Commerce’s new look at used-car market tells an old story

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As in, older cars have become the dominant force driving supply and vehicle values, according to the company’s monthly Industry Insights Report for August. The report, based on data from Car Commerce’s platforms, including Cars.com, Dealer Inspire and AccuTrade, shows used-car inventory up 2.3% from August 2022.

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Utah Dealer Won't Sell 2023 Lucid Air Touring for $59,000, Elon Musk Must Be Loving This

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Prices for the Lucid Air electric sedan are in freefall on the used car market, and while it shouldn’t reflect poorly on the model itself, it goes to show just where we are as an industry in terms of second-hand EVs. It’s a reality that both private parties and dealerships should accept.

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CARFAX updates flood-damage estimates following Hurricane Milton

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In 2022, Hurricane Ian damaged upwards of 358,000 vehicles throughout several states, according to CARFAX. Those interested in buying a used car can check carfax.com/flood to access the CARFAX Flood Check tool. The company also urged car buyers to have a trusted mechanic inspect the vehicle and also take it for a test drive.

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Used EV prices drop further than overall market, but are slow to sell

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Moreover, the latest CARFAX Used Car Price Index shows that those declines continued “across the board” in November. But the price drops for used electric vehicles (and to a lesser extent, hybrids) have been far more extensive, approaching 34%, the iSeeCars data shows. For hybrids, used prices fell 9.6% to $31,511.

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March brings surge of inventory, falling prices, Cars Commerce report finds

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At the same time, used-car prices plummeted 5.1% March’s data shows the new- and used-car markets are adjusting,” the Cars Commerce analysis said, “with new-car prices continuing to drop and used-car prices hitting their lowest point in years, signaling a move toward more typical pricing.”

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Tesla Model 3 retains its spot atop Carvana’s list of best-selling used EVs

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1 electric vehicle choice among Carvana’s customers in 2023. Just like in 2022 and 2021. The Model 3 continued its dominance over the sector in the online used-car retailer’s annual list of its 10 best-selling EVs. Carvana said it sold 57 makes and models of EVs last year, 29% more than in 2022. “We

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Used EV selection increases, prices decline

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Affordability and availability of used electric vehicles is improving, and in some cases, so are sales. Over 4% of Carvana’s sales in the first quarter were battery-electric vehicles, more than doubling their share of sales from Q1 2023, according to a study released Wednesday by the online used-car retailer.