Wholesale Price Trends

Market depreciation slows further, but EV volatility persists:

CategoryThis WeekLast Week2020–2023 Average
Car Segments-0.18%-0.25%-0.30%
Truck & SUV Segments-0.12%-0.16%-0.33%
Whole Market-0.15%-0.19%-0.31%

Key Drivers:

  • EVs: Tesla’s 9% Model Y price cut triggered a 12% drop in used EV values.
  • Hybrids: Toyota RAV4 Hybrid values rose +0.3% as gas prices hit $4.95/gal in Georgia.
  • Luxury Trucks: RAM 1500 Limited values dipped -0.8% amid rising loan rates.

Inventory & Retail Trends

New Vehicles:

  • EV Glut: Ford Mustang Mach-E inventory hits 210 days’ supply; dealers offer $12k off MSRP.
  • Hybrid Demand: Toyota Corolla Hybrid supply drops to 18 days (lowest since 2022).

Used Vehicles:

  • Days-to-Turn: Improved to 39 days for 0–2-year-old models, but older EVs lag at 65+ days.
  • CPO Surge: Certified Pre-Owned sales up 14% YoY, led by Honda CR-V and Ford F-150.

3 Trending News of the Week

Tesla’s “Model 3 Refresh” Backfires:

  • New $35k Model 3 undercuts used values, causing 8% depreciation for 2022–2024 models.

Stellantis-Renault Merger Talks:

  • Potential merger aims to counter BYD/Tesla dominance; Jeep and Peugeot stocks rise 6%.

EU Tariffs on Chinese EVs:

  • New 30% tariffs on BYD, NIO, and XPeng spark retaliation fears; Georgia ports brace for delays.

Legislative & Insurance Updates

  • Georgia’s EV Tax Credit Expansion: New $5k rebate for EVs under $50k; excludes Teslas (over MSRP cap).
  • Lemon Law Expansion: Now covers EVs with unresolved software defects (e.g., Tesla FSD glitches).
  • AI Appraisal Tools Banned: Georgia insurers barred from using unlicensed AI to value flood cars.

Georgia-Specific Insights

  • Atlanta’s Tesla Crash: Model Y resale values drop 15% post-accident, worse than national average (-10%).
  • Savannah’s Hyundai Delays: Ioniq 5 battery wait times hit 11 months; diminished value claims surge.
  • Rural EV Challenges: 70% of South Georgia counties lack fast chargers, slowing EV adoption.

Action Steps for Owners

  1. Lock in Hybrid Values: Trade older EVs for hybrids before gas prices climb further.
  2. Demand OEM Repairs: Critical for luxury/EV resale value retention.
  3. Secure USPAP Appraisals: Essential to counter insurer AI undervaluation tactics.

author avatar
Raphael Schossler