The new and used sales are thrived, all because of US President Donald Trump. The president successfully pushed the Congress to end the EV tax credit for new and used vehicles, and consumers rush to take advantage of these programs before he disappears forever. This led to a strong growth in EV sales last month, with the demand reaching levels close to the registry, for all new data from Cox Automotive.
Remember that the Great Republican Budget Law, which was signed on EV axes, after September 30 in the law on July 4. In the first month, TROMP BOMP had already had a major impact on EV sales. The gains were not here and there; Almost all that makes the saw growth.
“The new EV sales increased in July to 130,082 units, an increase of 26.4 % of the month and 19.7 % on an annual basis, and the market share was raised to 9.1 %,” says Cox’s report. “It was the second highest monthly total ever, with 11 brand brands for the best sales of EV for this year. The first five centers were focused on size-Tesla (53,816 units), Chevrolet, Hyundai, Ford and Honda-all of which witnessed strong gains, while Volkswagen increased by 454 % to the sixth position (+14.5 %) Mercedes -Benz (+6.4 %) indicates a continuation strength in the excellent part.
These tracks with my personal experience. With the impact of definitions on the entire market, consumer confidence disappears and EV incentives disappear, and consumers and merchants all expect the prices to rise. Many rush to enter while still getting good. I encouraged many friends and family members to buy or rent the new or used EVS now, before it is too late. Based on COX data, this message reaches many shoppers.
EV stocks are the road below. The normal agent had 40 days of EVS used in July, a 49 % decrease on an annual basis. This is more tight than the market for used internal combustion vehicles, with traders about 43 days in July. On the new market, this relationship fluctuates, supplying 87 days of the new EVS compared to 76 days of ice stock. However, the new EV inventory decreased by 49 % compared to the past year.
So what does that mean when sales rise, but the stock has decreased? This means that consumers pick up these deals. I would like to recommend that you do the same. EV user or a new cheap lease contract remains the most cost -effective way to get a great car, but that window closes. Come to October 1, will cost most of the EV $ 7500 rental contracts suddenly, and the EV buyer will not be qualified to obtain a federal tax credit worth $ 4000, too.
It is a good time for brushing on the user’s EV buyer. There may be a deal there for you.
Call the author: Mack.hogan@insreadeevs.com.
