Wholesale Price Trends
Market depreciation slows further, but EV volatility persists:
| Category | This Week | Last Week | 2020–2023 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.
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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.
The average diminished value amount is $6,200. We can help you get what you deserve.
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.
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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.
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Action Steps for Owners
- Lock in Hybrid Values: Trade older EVs for hybrids before gas prices climb further.
- Demand OEM Repairs: Critical for luxury/EV resale value retention.
- Secure USPAP Appraisals: Essential to counter insurer AI undervaluation tactics.
