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Large rental, commercial, and government purchases of new vehicles increased 6% compared to this time in 2020, but decreased by 40% from the same time in 2019.
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The Bolt EV saw a 335% sales increase in July to its highest volume ever in a second quarter at 10,857 units.
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The latest trends in key indicators suggest wholesale used vehicle values will continue to see depreciation in the days ahead.
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Chip shortages and surging demand are squeezing used vehicle sales while inflating prices.
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Market watchers had been expecting this slowdown to come earlier in the summer, but deals could still be made. Now there just isn’t enough product available.
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Analysis: With the Ford Maverick officially rolling out June 8, the wider question is can the rebirth of the compact pickup truck take the industry by storm?
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Sales of electrified vehicles grew notably in Q1, and analysts at Cox Automotive have said we are entering the EV Decade.
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On a year-over-year basis, all major market segments saw seasonally adjusted price increases in April.
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Figures remain down 16% from year-ago level.
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Strong Toyota hybrid sales and new EVs entries are driving the growth.
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