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In the United Kingdom, new car sales had its worst month since 1998 as new car registrations fell by over 14%.
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The transition to EVs is not a matter of if, but a matter of when, and the industry must pay attention to the impacts of the potentially imminent and rapid transition from ICE vehicles to EVs.
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While some are thrilled to have retired from a tumultuous industry, most are neck-deep in a desert of pent-up demand, increased commodity and oil prices, and the after effects of the Ukraine/Russia conflict, the effects of which remain to be seen.
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Wholesale used vehicle prices dropped 11.8% month-over-month so far in April, bringing the Manheim Used Vehicle Value Index to 125.2, which is 9.6% lower than it was at the same time in 2019, and could reach lows not seen since 2008.
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Wholesale used vehicle prices increased 1.35% month-over-month in February, bringing the Manheim Used Vehicle Value Index to 143.5, which is 6.2% higher than it was at the same time in 2019.
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Vehicle values held steady last week, as various luxury segments continued to see positive movement in their week-to-week wholesale values.
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Overall car segment values decreased 0.11% last week, compared to a 0.04% gain the week before. Overall truck segment values decreased 0.03% last week, compared to 0.19% the week before.
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Overall wholesale values last week were strong, indicating a possible early start to the spring sales season.
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Overall car segment values decreased 0.21% last week, compared to 0.13% the week before. Overall truck segment values decreased 0.18%, compared to 0.28% the week before.
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Overall car segment values declined 0.13% last week, compared to 0% the week before. Overall truck segment values decreased 0.28% last week, compared to 0.17% the week before.
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