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☆ Poor resale values of EVs threaten adoption, warn some experts
▼ + stars: | 2024-04-05 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

Jeff Gritchen | Medianews Group | Getty ImagesA car loses value as soon as you drive it off the lot, but electric vehicles are taking this adage to a new level. That's becoming a major barrier to wider adoption, according to some industry and investment experts. While lower used EV prices could increase their desirability to some buyers, they can also reduce demand for new electric vehicles, according to Karl Brauer, executive analyst at iSeeCars. Kuo further argued that the software and computing capabilities of used EVs may become outdated and incompatible with updates by the time they are sold or even beforehand. According to iSeeCars, dramatic drops in used electric vehicle values in the U.S. have largely been driven by aggressive price cuts by Tesla amid a broader price war in the EV market.

Persons: Jeff Gritchen, Karl Brauer, David Kuo, Kuo, EVs, iSeeCars, Tesla Organizations: Medianews, Getty, iSeeCars.com, Smart, Industry, Bloomberg, VW, Toyota Locations: Fountain Valley , California, U.S

☆ Why experts say falling EV prices could actually hinder widespread adoption
▼ + stars: | 2023-12-08 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +1 min

Prices of used electric vehicles are down roughly 30% year over year, according to market research studies using data from September and October. The cheaper prices might bode well for buyers, but they raise concerns that low resale values could hurt EV adoption among mainstream consumers. The falling prices also add fuel to a debate over whether EV demand is faltering. "The mainstream appeal of these cars is still not there," said Karl Brauer, executive analyst for iSeeCars, a search engine for used cars. Edmunds, which provides a range of automotive data services, said in its Q3 2023 Used Vehicle Report that "the low resale values for used EVs could become a major deterrent to new EV purchases and EV adoption more broadly."

Persons: bode, Karl Brauer, They're, they've, Scott Case, Edmunds Organizations: iSeeCars

☆ The pandemic broke the used car market — now shoppers are screwed
▼ + stars: | 2023-09-30 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

Used cars are still expensive, like they've been for years. Slow car production from 2020-2022 slammed the supply of lightly used cars in 2023, a study shows. AdvertisementAdvertisementRidiculously high used car prices are lingering like the last guest at the dinner party. During the pandemic, used cars got incredibly expensive for a couple of reasons. "There's really no factor contributing for used car prices to go down," Brauer said.

Persons: they've, —, iSeeCars, that's, that'll, Karl Brauer, Brauer, There's Organizations: Service, Toyota, Honda

☆ Used cars are older, pricier. 3 things to think about when shopping for a previously owned vehicle
▼ + stars: | 2023-09-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

As recently as 2019, used car shoppers could find a 3-year-old vehicle for about $23,000. Pandemic-era manufacturing issues have since increased the average age of used cars sold to 6.1 years, up from 4.8 years, according to car-shopping site iSeeCars.com, which analyzed more than 21 million used cars sold in 2019 and 2023. The average price for all used cars sold increased 33% between 2019 and this year, rising to $27,133 from $20,398, according to the site. To that point, 58% of sales from used vehicles came from 3-year-old or newer used cars in the second quarter of 2019. While prices cooled slightly, used cars overall are still expensive; sticker prices are 46% higher than the second quarter of 2018.

Persons: Karl Brauer, Edmunds Organizations: Finance Locations: Edmunds

☆ EVs are running out of customers — and some dealers don't want them anymore
▼ + stars: | 2023-08-23 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +5 min

AdvertisementAdvertisementMore electric vehicles are being pumped out of car factories than ever before – but some dealers don't want them. Electric car inventory has been piling up on dealership lots this year as companies up their EV production, leading some dealers to say enough is enough. Some are telling automakers they don't want any more until they can sell what's sitting, several dealers told Insider. AdvertisementAdvertisementIn the EV plateau, dealers are left in the lurchIn this round of growing pains for the electric car market, dealers are set up for the most trouble . "Dealers know in real time with real-time feedback what the market is doing," Karl Brauer, an automotive analyst for iSeeCars, previously told Insider.

Persons: Scott Kunes, Kunes, It's, Sam Fiorani, Fiorani, EVs, Tesla, Adam Lee, he's, Lee, Karl Brauer Organizations: Morning, Kunes, RV Group, Nissan, Mitsubishi, AutoForecast Solutions, Coast Ford, Midwest, Hyundai, Lee Auto, iSeeCars Locations: Detroit, West Coast, Maine

☆ Tesla's Cybertruck is Elon Musk's toughest gambit yet
▼ + stars: | 2023-08-21 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Musk is making further moves to thrust Tesla into the mainstream by entering the US market's lucrative pickup truck market. It's also a tough time to release any new product, especially an electric pickup truck. While Cybertruck is poised to go after a more unique set of pickup truck buyers, the company could face more trouble than it's used to converting existing truck buyers to the brand. Cybertruck will also face a tightening new vehicle market, with customers who are spending less on unnecessary purchases and gravitating toward more practical vehicles. "The nature of trucks is to work within this network of aftermarket companies out there – it will be interesting to see if Elon plays along."

Persons: Tesla, Elon Musk, It's, Cybertruck, it's, Karl Brauer, Brauer, Elon Organizations: Ford, GM, iSeeCars, Elon

☆ Cybertruck fans are nitpicking Elon Musk's final design as Tesla gets ready to deliver the long-awaited truck
▼ + stars: | 2023-08-11 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

The Cybertruck likely still has enough juice to rock the EV truck segment. As the Cybertruck gets closer to launch, photos of the vehicle have circulated on Tesla enthusiast blogs and forums. The video made rounds on Tesla CEO Elon Musk's social media website X, formerly known as Twitter, earlier this month. Tesla's take on the truckDespite comparisons and nitpicks, industry experts believe the Tesla Cybertruck still has the juice to disrupt the truck market as we know it. Do you have an order in for the Tesla Cybertruck?

Persons: Elon, Cybertruck, Ford's, Jim Farley, Tesla's, Karl Brauer, Ivan Drury, Edmunds, Tesla Organizations: Tesla, Ford, iSeeCars

☆ The EV plateau is coming. It's bad news for companies like Ford and Tesla.
▼ + stars: | 2023-08-10 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Current EV market growth "cannot be sustained," analyst says. The cap for rapid EV growth appears to be around 7% of the market. After years of rapid growth, the electric vehicle market is heading for a plateau. The states with the biggest share of electric vehicle sales are also the slowest to grow sales at the moment, according to a recent study from iSeeCars. California, Oregon, and Washington – where EV sales account for between about 7% and 10% of the market – are currently among the slowest-adopting states, the study found.

Persons: Tesla, Ford, It's, Sam Fiorani, Fiorani, Karl Brauer Organizations: Morning, EV, GM, Ford, AutoForecast Solutions Locations: iSeeCars . California , Oregon, Washington

☆ Ford is going to miss its original EV production goals. Tesla's price war is to blame.
▼ + stars: | 2023-07-28 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Ford needs more time to hit its EV production targets as demand changes. Tesla's price war has made it harder to make money on EVs. The EV price war is forcing Ford to adjust its electric vehicle timeline. Ford confirmed during its earning report Thursday that EV pricing is one of the biggest hurdles to meeting their original EV production goals. "We expect the EV market to remain volatile until the winners and losers shake out," he said.

Persons: Ford, Jim Farley, Farley, Karl Brauer Organizations: Ford, Dealers, Tesla, GM Locations: Dearborn , Michigan, Tesla's

☆ People put down deposits for every electric truck in development, leaving dealers in the lurch when they eventually cancel all but one
▼ + stars: | 2023-07-22 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Dealers lose in the race to get an electric truck in consumers' driveways. Dealers have more to lose than manufacturers, who book revenue once the truck leaves the factory. In an electric truck market where buyers are placing bets on what will arrive first, dealers are likely to be the ones left in the lurch. Listening to dealers about where the demand pendulum is swinging will be crucial for car companies as they roll out more and more electric models in the coming years. Car companies that use dealers book revenue on a car once it leaves the factory (that's one of the biggest advantages legacy car companies have over startups that use a direct-to-consumer model).

Persons: Cybertruck, Tesla, Karl Brauer, Brauer, they're, Ford, EVs, Jessica Caldwell, Edmunds, Caldwell Organizations: Dealers, Ford, GM, iSeeCars, EV, Car

☆ Buying anything but a Tesla makes no sense right now
▼ + stars: | 2023-07-20 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Several car companies say their EVs will be built with the Tesla charging standard starting in 2025. Otherwise, buying an EV other than Tesla now means its charging tech will soon be in the minority. It's supposed to be a huge advantage to non-Tesla car companies that they're switching to Tesla's charging tech. With automakers, charging providers, and more moving to Tesla's tech, CCS will be far less popular in the coming years. The EV buyers in five to 10 years will be buying tech that's more advanced and stabilized.

Persons: Tesla, Elon, Karl Brauer, Brauer, NACS, Loren McDonald, McDonald Organizations: Morning, Ford, GM, Volvo, CCS Locations: America

☆ Ford's electric Mustang Mach-E is piling up on dealer lots as the automaker confronts an EV-inventory problem
▼ + stars: | 2023-07-12 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +6 min

But the automaker is having a hard time moving its inventory of Mach-E and Lightning EVs. Ford dealerships are selling fewer Ford EVs than they were this time last year, per Cloud Theory. Erich Merkle, Ford's head of US sales analysis, said EV sales were up nearly 12% through June. He also said the unsold Mach-E inventory wasn't just sitting on dealer lots because it spent more time in transit. The EV market is having its first growing painsFord is not alone in its struggle to match EV production with demand.

Persons: Ford, It's, Erich Merkle, Ford's, it's, they've, We've, Merkle, Tesla, Hummer, EVs, Karl Brauer, Brauer Organizations: Ford, Theory, EV, Coast Ford, East Coast, GM, Lightning, astjohn Locations: EVs, East, Midwest

☆ Elon Musk has a big learning curve ahead of him with the Cybertruck
▼ + stars: | 2023-07-01 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Tesla CEO Elon Musk has a learning curve ahead of him later this year when the Cybertruck finally hits customers' driveways. Musk is making further moves to thrust Tesla into the mainstream by entering the US market's lucrative pickup truck market. It's also a tough time to release any new product, especially an electric pickup truck. While Cybertruck is poised to go after a more unique set of pickup truck buyers, the company could face more trouble than it's used to converting existing truck buyers to the brand. "The nature of trucks is to work within this network of aftermarket companies out there – it will be interesting to see if Elon plays along."

Persons: Tesla, Elon Musk, It's, Cybertruck, it's, Karl Brauer, Brauer, Elon Organizations: Ford, GM, iSeeCars, Elon

☆ Tesla is removing one of the last barriers to EV ownership
▼ + stars: | 2023-06-22 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

The Tesla Supercharger network could remove the last barrier to EV ownership. Long-standing barriers to EV ownership like battery range and price are finally being addressed, leaving one last obstacle for many would-be EV-owners: access to public fast-charging stations. Tesla has the largest fast-charging network in North America, with about 20,000 Superchargers that previously only connected to Tesla vehicles. A recent study of EV infrastructure done by iSeeCars found that of the 150,000 EV chargers in the US, only about 30,000 are fast chargers (including the Tesla Supercharger network). Only about 11,000 of those fast chargers are non-Tesla chargers so opening up the Supercharger network does make a difference – but doesn't solve the problem.

Persons: Tesla, Long, Karl Brauer, We've, Brauer, iSeeCars, Rivian, Dan Ives Organizations: EV, Morning, Ford, GM, Tesla EV, Tesla Locations: North America

☆ The sneaky way automakers are keeping car prices high
▼ + stars: | 2023-06-05 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Throughout the height of COVID, carmakers got used to getting high prices. Car companies have a new way of keeping prices up: limiting options on the dealer lot. Since recovering from COVID-related plant shutdowns and an extended shortage of chips required for today's tech-laden cars, companies like Ford, General Motors, and Stellantis have finally seen more cars head to dealer lots. But they got used to selling vehicles for high prices with minimal inventory on their lots. But shoppers shouldn't necessarily see some automaker's low inventory as a signal of high demand for a vehicle that they'd have to pay big dollars to compete on.

Persons: carmakers, that's, Karl Brauer, We've, Brauer, Kelley, Ed Kim, Kim Organizations: Morning, Ford, General Motors, Deutsche Bank, Fort Locations: COVID, Fort Wayne

☆ Tesla's Cybertruck is finally coming. It's going to rattle rivals and transform the EV market as we know it.
▼ + stars: | 2023-05-21 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

The futuristic-looking truck is going to redefine what a pickup truck can look like. Tesla’s entry to the pickup truck market could be exactly what the segment needs. Tesla is finally ready to enter the most lucrative vehicle segment in the US: pickup trucks. The Cybertruck's arrival is expected to shake up the electric pickup truck market – and the entire stalwart truck market – with its arresting design and high-tech features. "This is going to be Tesla's take on the pickup truck, which is enough on its own, and competitors should be very wary of that."

☆ Automakers are pausing factory lines to help keep inventory low and prices high
▼ + stars: | 2023-05-03 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Throughout the height of COVID, carmakers got used to getting high prices. But some carmakers might limit their inventory to keep supply down and prices up. Since recovering from COVID-related plant shutdowns and an extended shortage of chips required for today's tech-laden cars, companies like Ford, General Motors, and Stellantis have finally seen more cars head to dealer lots. But they got used to selling vehicles for high prices with minimal inventory on their lots. But shoppers shouldn't necessarily see some automaker's low inventory as a signal of high demand for a vehicle that they'd have to pay big dollars to compete on.

☆ Some cars, including the Toyota Corolla and Ford Bronco, are worth up to $8,000 more used than if they were new
▼ + stars: | 2023-04-11 | by ( Alexa St. John | Tim Levin | ) www.businessinsider.com time to read: +4 min

But there are 14 used cars that cost more than their new versions, per a new iSeeCars analysis. A lightly used Toyota Sienna or Kia Carnival could cost thousands more than they do new. ToyotaToyota Corolla HybridUsed price: $27,809Difference used over new: $2,038Toyota SiennaUsed price: $50,978Difference used over new: $1,806The 2022 Toyota RAV4 Prime XSE. Tim Levin/InsiderToyota RAV4 PrimeUsed price: $51,298Difference used over new: $1,726Toyota Corolla CrossUsed price: $30,636Difference used over new: $853The Kia Carnival. HondaHonda Accord HybridUsed price: $34,704Difference used over new: $152Chevrolet CorvetteUsed price: $84,827Difference used over new: $324Kia RioUsed price: $20,135Difference used over new: $27Honda AccordUsed price: $30,404Difference used over new: $16

☆ Buying a car won't ever go back to normal — so you might as well buy now
▼ + stars: | 2023-03-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +7 min

What makes it a good idea to buy a car right now? It's important to remember that car buying is probably never going back to "normal." Used prices are expected to go back up again, creating a short window of opportunity. As for interest rates: It's hard to say what will happen in the long run. A cash buyer ready to undertake sufficient due diligence can certainly get a solid deal in today's car market."

☆ 31% of new cars sold for above sticker price last month. These 10 models have the biggest premiums
▼ + stars: | 2023-03-10 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

An estimated 31% of new vehicles were sold above MSRP last month, according to a joint forecast from J.D. On average, new autos are priced 8.8% above the manufacturer's suggested retail price, or MSRP, according to new research from iSeeCars.com. The biggest premiums paid are for luxury vehiclesAs for which cars are priced the most above MSRP: Most of them are luxury models, according to the iSeeCars study. Coming in first for the highest premium is the Genesis GV70, whose average price of $56,476 is 27.5% above an MSRP of $44,299. For instance, the Chevrolet Silverado 1500 comes with an average price of $50,116, which is 1.9% below an MSRP of $51,103.

☆ Traditional automakers have one huge leg up on EV startups: A nationwide network of shops ready to service cars
▼ + stars: | 2023-02-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +6 min

But today's EV startups don't operate that way. When in need of service, car buyers typically utilize the massive dealership network automakers like Ford, GM, Toyota and others have, or choose to take their vehicle elsewhere. Unlike Tesla, today's EV startups can't afford to tick their owners off with waits or make prospective buyers worry about repairs and service. The right-to-repair movement is also going to be significant for EV startups moving forward. "It comes down to how confident a given consumer feels when going with an electric vehicle from a new EV brand versus a traditional car from a traditional car company," Brauer said.

☆ Car prices could drop 20% this year. Here's where to expect the best deals first.
▼ + stars: | 2023-02-01 | by ( Tim Levin | Alexa St. John | ) www.businessinsider.com time to read: +3 min

After years of high prices and low inventory, car buyers might finally see things go their way. Consider certain brands or vehicle types if you’re car shopping in 2023. As a result, JPMorgan says, used car prices could fall by as much as 20% in 2023, and new car prices could drop by 5%. "The biggest, fastest drop in prices in returning toward normal, pre-pandemic prices would probably be in those segments," Brauer said. Pickup trucks, though popular in general, don't have great fuel economy, so prices have softened amid higher-than-normal gas prices, Brauer said.

☆ Electric cars are killing the car dealership as we know it
▼ + stars: | 2023-01-12 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

The dealership model, in which retailers buy from automakers and sell vehicles to consumers, has been protected for nearly a century by robust franchise laws. Thanks to the disruption caused by EVs, car shoppers of all kinds can expect to spend less time wandering dealership lots, talking with salespeople, and haggling over pricing. Companies like GM and Ford are trying to strike a balance between direct sales and the dealership model. Still, two-thirds of Ford dealers have signed on for the program, according to CEO Jim Farley. With the launch of the Cadillac Lyric, GM used a digital retail network that allows car shoppers to complete transactions entirely online, in the dealership, or a hybrid of both.

☆ Now is a great time to buy a used Tesla
▼ + stars: | 2022-12-28 | by ( Tim Levin | ) www.businessinsider.com time to read: +2 min

Prices for used Teslas are dropping faster than the rest of the used-car market, Reuters reported. Secondhand Tesla prices dropped by some $11,500 between July and November. Prices of secondhand Teslas have dropped faster than used cars from other brands, Reuters reported Tuesday, citing data from Edmunds. Declining gas prices, competition from other brands, and high interest rates are all contributing to the dropping prices, Reuters reported. Used Teslas losing value could impact demand for the brand's new cars, Karl Brauer, executive editor at the car search engine iSeeCars.com told Reuters.

☆ Use this calculation to find the best used car for your money — plus 10 models that come out on top
▼ + stars: | 2022-12-27 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

The report then ranked those models based on the cost per remaining mile calculation to determine which used cars are the best deal. The 10 best used cars for the moneyIn the No. Overall, five Toyotas made the top 10 list of best 5-year-old used cars for the money, also including the Camry, Corolla and Avalon. He offered these five tips for anyone in the market for a used car. Being "basic" has its benefits: Going with widely popular models has an added advantage when it comes to buying a used car, Drury said.

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