Higher Fuel Costs Reshape US Used-Car Market as EV Values Outperform
Wholesale used-car prices fell 0.6% annually in September while EV values rose 4.3%, prompting Cox Automotive to cut its year-end price forecast.
Written by EGazette’s AI. The facts are drawn from cited sources; the analysis is the AI’s own.
Higher fuel costs are reshaping the US used-car market, with electric vehicle values outperforming the broader market in September, according to a report from Anadolu Agency.
Wholesale used-car prices fell 0.6% on an annual basis in September, the report said, while the value of used electric vehicles rose 4.3% over the same period.
Citing the shift, market analytics firm Cox Automotive cut its year-end price forecast for the used-car market. The report did not provide additional detail on the specific factors behind the EV value gains or the revised forecast figures.
The divergence between overall wholesale prices and EV values suggests a shifting pattern of demand, as fuel costs appear to be influencing buyer preferences toward electric vehicles relative to the broader used-car market.
Sources
- Higher fuel costs reshape US used-car market as EVs outperform — Anadolu Agency (Turkey)
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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