2023, Electricity and Used Cars - Auto Repair Digest

Used-car sales climb about 11% & move at faster clip

Auto Remarketing

APRIL 17, 2024

It was March momentum for the retail used-car market. million used vehicles, which was a 10.9% gain from March 2023 and up 18.5% million used vehicles, compared to 4.29 million the same period of 2023, Cox data shows. million used vehicles, compared to 4.29 In February, used sales were up 4.1%

Used Cars

Used Cars Car Retail Electric Vehicles

PODCAST: What we’ve learned about EVs in 2023

Auto Remarketing

NOVEMBER 28, 2023

Two of the experts at Experian Automotive — John Howard and Kirsten Von Busch — spent part of their time at Used Car Week discussing electric vehicles for this episode of the Auto Remarketing Podcast. The post PODCAST: What we’ve learned about EVs in 2023 appeared first on Auto Remarketing.

Retail

Retail Electric Vehicles Used Cars Electricity

Cars Commerce’s new look at used-car market tells an old story

Auto Remarketing

SEPTEMBER 20, 2024

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% year-over-year and 13.3%

Used Cars

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These Are the Most Popular Used Electric Cars in 2023 in America

autoevolution

JANUARY 5, 2024

The Ford F-150 remained the most popular used car sold in the US in 2023. million used car sales from the last five years and calculated each model’s market share of used car sales nationally, but also within metropolitan areas and within states. But which was the most popular EV?

Electric Cars

Electric Cars Electricity Car Used Cars

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

autoevolution

MAY 22, 2024

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.

Used Cars

Used Cars Electricity Car IT

CARFAX adds month-over-month data to used-car price index; how that plays out in November

Auto Remarketing

NOVEMBER 25, 2024

With that in mind, CARFAX has added month-over-month insights to its Used Car Index reports, the first major change in these recaps since their April 2023 debut. If so, how will that affect used-car prices? Will the new administration end the tax credit for new and/or used electric vehicles (EVs)?

Used Cars

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Cars Commerce report: All quiet on the used-car front

Auto Remarketing

OCTOBER 23, 2024

The latest numbers from Cars Commerce show a new-car market in flux, with prices falling as excess inventory builds up. In the used-car world, on the other hand, all is calm and steady. The age of those used cars is steadily increasing, which means consumers are now getting an older car for the money than they had before.

Used Cars

Used Cars Car Electric Vehicles Vehicle

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

Auto Remarketing

APRIL 12, 2024

higher than March 2023. 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.”

Car

Car Used Cars Electric Vehicles Vehicle

Used-car values down 14% as Manheim index hits lowest level since March 2021

Auto Remarketing

MAY 7, 2024

Compact cars (down 17.6%) had the heftiest decline, followed by midsize cars (down 16.8%) and pickups (down 15.2%), Cox said. The decline for non-electric vehicles was at 13.1%, while EV values dropped 17.5% from April 2023. SUV/CUV prices were off 14.6% year-over-year and luxury prices fell 12.9%.

Used Cars

Used Cars Car Electric Vehicles Vehicle

Used EV selection increases, prices decline

Auto Remarketing

MAY 8, 2024

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.

Used Cars

Used Cars Electric Vehicles Vehicle Retail

Alt-fuel vehicles don’t necessarily have to break the bank

Auto Remarketing

MAY 1, 2024

A common hesitancy consumers might have about buying alternative-fuel vehicles (even used ones) is that the cost is too high. And that assumption isn’t entirely wrong — it might be fair on some models, particularly electrics. In fact, used hybrids may be a better deal than gas vehicles in terms of average overall cost-effectiveness.

Banking

Banking Vehicle Alternative Fuels Electric Vehicles

Falling used EV prices now more than 10% lower than gas cars, study finds

Auto Remarketing

SEPTEMBER 12, 2024

Price has always been cited by car buyers as a barrier to buying a new electric vehicle. But when it comes to the used-car market, it’s not a problem at all. According to the latest research by iSeeCars , the average price of a 1- to 5-year-old used EV is now 11.4% In August 2023, EV values were 12.1%

Car

Car Used Cars Electric Vehicles Electricity

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

Auto Remarketing

JANUARY 17, 2024

1 electric vehicle choice among Carvana’s customers in 2023. The Model 3 continued its dominance over the sector in the online used-car retailer’s annual list of its 10 best-selling EVs. We are focused on building selection across all price points to make used EVs as accessible as possible to all interested customers.”

IT

IT Electric Vehicles Used Cars Electricity

These Cars Lost The Most Value On The Used Market In The Past Year

Jalopnik

SEPTEMBER 17, 2024

Considering the shambolic state of the American economy, inflation, and rampant wage stagnation, I love finding stories about affordable cars and prices dropping. million one-to-five-year-old used cars listed for sale online between August 2023… Read more.

Car

Car Used Cars Electric Vehicles Electric Cars

Dealers Are Refusing Toyota Tundra Trade-Ins Over Engine Recall

Jalopnik

JUNE 13, 2024

We found out wh y Toyota’s twin-turbo V6s have been grenadeing themselves in 2022-2023 Tundras and Lexus LXs earlier this month, but there’s still no real fix for the issue. Now it seems car dealers are staying away from the once bullet-proof trucks. Read more.

Engineering

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COMMENTARY: Plug-in hybrids can serve vital role in electrification

Auto Remarketing

JANUARY 29, 2024

The transition to electric vehicles is currently generating millions of pixels. The once seemingly smooth path to an all-electric future is now strewn with some unexpected potholes, but one vehicle type in the current mix deserves some added attention. Weighted averages demonstrate the steep declines.

Electric Vehicles

Electric Vehicles Electricity Vehicle Engineering

U.S. Auto Dealer Sentiment Improves in Q1, Market View Remains Weak

AutoSuccess

MARCH 19, 2024

The Cox Automotive Dealer Sentiment Index (CADSI) shows that current market sentiment improved slightly in the first quarter compared to the fourth quarter of 2023, increasing from 40 to 42, but remains well below the 50 threshold, indicating most dealers see the current market as weak. That is no longer the case. automobile dealers.

Automotive

Automotive Vehicle Automobile Electric Vehicles

Is Your F&I Product Lineup Balanced & Diversified?

AutoSuccess

AUGUST 12, 2024

After years of being overshadowed by emerging electric vehicles from Tesla and other brands, the hybrid — a gasoline vehicle that has both an internal combustion engine and an electric motor — is enjoying a resurgence in 2024. Additionally, a rise in used EV sales continues to make headlines. EV sales have slowed in the U.S.

Insurance

Insurance Vehicle Alternative Fuels Fluid Check

Dealers’ Optimism on Rise, says Cox Q4 2024 Dealer Sentiment Index

AutoSuccess

DECEMBER 13, 2024

economy were mostly flat in Q4 at 41, equal to the score in Q3 and two points higher than in Q4 2023. Electric Vehicle Sentiment Declines as Policy Uncertainty Looms Dealer optimism toward electric vehicle (EV) sales in Q4 was mostly unchanged from Q3 at 43 overall. Views of the U.S. is affecting their business.

Automobile

Automobile Auto Market Retail Automotive

F&I 2024 Dealer Outlook: How Online Options Will Help Dealers Better Serve Customers

AutoSuccess

FEBRUARY 27, 2024

After a difficult sales environment in 2022, the automotive industry has experienced a noticeable recovery in 2023. These types of issues may make consumers think twice before investing in new and used vehicle models when car shopping.

Retail

Retail Electric Vehicles Vehicle Electricity

BA Auto Care, Columbia Maryland’s Top Independent Auto Repair Shop Celebrates 45 Years of “Looking Out For You and Your Car”

BA Auto Care

JUNE 30, 2023

Throughout their 45 years in business, BA Auto Care has continually embraced new developments in the auto industry, now repairing cars of all makes and models, including hybrid and electric vehicles. Technicians are all ASE certified, and they also receive specialized training on the newest hybrid and electric vehicles.

Auto Repair Shop

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U.S. Automobile Dealer Sentiment: Dealers Remain Pessimistic, Cautious

AutoSuccess

JUNE 11, 2024

On the other hand, independent dealers scored the current used-vehicle market at 38 – an improvement from last year and last quarter – but still indicating that a majority of independent dealers perceive the used-vehicle market as weak. The index has fallen each quarter since Q2 2023, when the score was 52.

Automobile

Automobile Automotive Vehicle Retail

Micro-leases, subscriptions, long-term rentals, whatever you call it, will it become a third ‘sales’ channel?

Auto Remarketing

OCTOBER 6, 2023

I was listening to a panel discussion with some very esteemed automotive economists recently, and in discussing the prospects of electric vehicle sales growth in the United States, a shocking, though true, fact was agreed to by all. And developments suggest that a larger presence in U.S. dealerships will be coming soon.

IT

IT Retail Transportation Automotive

Cox Automotive Deploying VIN-Specific EV Battery Health Solution

AutoSuccess

MAY 7, 2024

Cox Automotive is rolling out its used car industry solution that will measure the EV battery health for each specific VIN across Manheim. In 2023, approximately 48,000 EVs were sold in the Manheim Marketplace, a 58% increase year-over-year.

Automotive

Automotive Vehicle Transportation Used Cars

Edmunds on Tesla trades & other parts of current EV market

Auto Remarketing

JULY 23, 2024

Edmunds shared a wide array of electric-vehicle information on Tuesday, including insights about trade-in activities at dealerships involving a Tesla. Perhaps of most interest to used-car managers, Edmunds said that its data through June showed 51% of all Teslas traded in to a dealership went toward a purchase or lease of a new ICE vehicle.

Electric Vehicles

Electric Vehicles Vehicle Electricity Used Cars

Auto Repair Digest

Used-car sales climb about 11% & move at faster clip

PODCAST: What we’ve learned about EVs in 2023

Trending Sources

Cars Commerce’s new look at used-car market tells an old story

These Are the Most Popular Used Electric Cars in 2023 in America

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

CARFAX adds month-over-month data to used-car price index; how that plays out in November

Cars Commerce report: All quiet on the used-car front

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

Used-car values down 14% as Manheim index hits lowest level since March 2021

Used EV selection increases, prices decline

Alt-fuel vehicles don’t necessarily have to break the bank

Falling used EV prices now more than 10% lower than gas cars, study finds

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

These Cars Lost The Most Value On The Used Market In The Past Year

Dealers Are Refusing Toyota Tundra Trade-Ins Over Engine Recall

COMMENTARY: Plug-in hybrids can serve vital role in electrification

U.S. Auto Dealer Sentiment Improves in Q1, Market View Remains Weak

Is Your F&I Product Lineup Balanced & Diversified?

Dealers’ Optimism on Rise, says Cox Q4 2024 Dealer Sentiment Index

F&I 2024 Dealer Outlook: How Online Options Will Help Dealers Better Serve Customers

BA Auto Care, Columbia Maryland’s Top Independent Auto Repair Shop Celebrates 45 Years of “Looking Out For You and Your Car”

U.S. Automobile Dealer Sentiment: Dealers Remain Pessimistic, Cautious

Micro-leases, subscriptions, long-term rentals, whatever you call it, will it become a third ‘sales’ channel?

Cox Automotive Deploying VIN-Specific EV Battery Health Solution

Edmunds on Tesla trades & other parts of current EV market

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