Cox Automotive's Manheim operations recorded a record quarter for used EV sales. Manheim processed nearly 9,800 pre-owned electric vehicle sales in Q1 2023, 40% higher than in Q1 2022. Essentially keeping pace with Cox data, total used EV sales in Q1 were nearly 43K which is 32% higher than the previous year.
Market trends suggest getting in on Used EVs is best done yesterday, but today is a good alternative.
Mercedes-Benz van unit will launch a scalable platform for electric vehicles. The company claims the project will reduce its fixed costs by 20% in the next few years.
So many numbers... Part of the cost-cutting effort is a push toward direct sales with a 2026 target of 20% online transactions. In Europe, the target is higher at 75%, or 60% of total van sales, being online.
Over and over, we are talking about automakers seeing unclaimed prosperity in electric fleets and a solid online presence. There may be an opportunity (or warning) there for dealers too.
Tesla is extending its lead in California, where it already holds the top two EV market positions. The first place Model Y has significantly increased its lead, while Model 3 is maintaining a healthy second position.
Today California, tomorrow…? Holding these positions in CA is particularly noteworthy because, as of Q1 2023, 1/4th of all cars in CA had a plug, and over 1/3rd had at least some sort of electric motor. So, in the US state with the most EV adoption, Tesla is holding the Gold and Silver medals.
Imagine how many more Elon will sell when he removes the online payment processing fee... like he said he would... on Twitter.