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The automotive industry is undergoing a generational transformation with the continued use of electricvehicles (EVs). As more consumers embrace the benefits of EVs, the usedcarmarket is also seeing an influx of these eco-friendly vehicles.
The automotive industry is undergoing a generational transformation with the continued use of electricvehicles (EVs). As more consumers embrace the benefits of EVs, the usedcarmarket is also seeing an influx of these eco-friendly vehicles.
Usedcar prices continue to decline as availability increases and new car prices have stabilized in the Canadian automotivemarket, according to analysis from AutoTrader.
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.
As we review the vehicle inventory, carryover, and markdown trends from the Lotlinx Q4 2024 AutomotiveMarket Report , the automotivemarket has revealed several important insights into the ongoing challenges and opportunities for dealerships and OEMs. The usedvehiclemarket also saw growth in hybrid and EV sales.
As the world gradually emerges from the shadows of COVID-19, a significant shift in the car retail landscape is becoming increasingly apparent, particularly in the electricvehicle sector. Historically, a balanced automotivemarket would have a 60-day supply of vehicles.
In the face of uncertainty in the automotivemarket, the American economy in general and the nation’s political future, the outlook of car dealers remains remarkably steady, according to the latest Cox Automotive Dealer Sentiment Index. Of course, that’s not necessarily a good thing.
For instance, if the customer data platform indicates a growing interest in electricvehicles among a particular demographic, the inventory data platform can adjust its recommendations to ensure the dealership is well-stocked with the right mix of EVs to meet this demand. Usedcar day supply is expected to remain tight and steady.
For instance, if the customer data platform indicates a growing interest in electricvehicles among a particular demographic, the inventory data platform can adjust its recommendations to ensure the dealership is well-stocked with the right mix of EVs to meet this demand. Usedcar day supply is expected to remain tight and steady.
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