US Used Vehicle Prices on a Decline, with EVs Leading the Way

Tuesday, 19 March 2024, 13:30
In the first half of March, the Manheim used vehicle index dropped 0.6%, contributing to a year-over-year decline of 14.9%. Notably, luxury vehicles fell by 13.5% and SUVs by 14.5%. Furthermore, midsize and compact cars, as well as pickups, experienced sharper declines compared to the industry average. The decline in EV prices at 18.8% year over year, led by Elon Musk's efforts, stands out amidst the 13.1% fall in non-EVs.
https://store.livarava.com/32a8f0a4-e5f5-11ee-9685-5254a2021b2b.jpe
US Used Vehicle Prices on a Decline, with EVs Leading the Way

US Used Vehicle Price Decline

The Manheim used vehicle index dipped by 0.6% in the first half of March, leading to a 14.9% year-over-year decrease.

Industry Comparison

Luxury vehicles and SUVs saw declines of 13.5% and 14.5% respectively, performing slightly better than midsize cars (-16.9%), compact cars (-16.6%), and pickups (-15.6%).

EVs Impact

Elon Musk's EVs experienced the steepest drop at 18.8% year over year, while non-EVs declined by 13.1%.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Related posts

Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe