Used-vehicle prices rise, EV financing share up

The Manheim Used-Vehicle Value Index ticked up 0.2% YoY and 1.3% month over month in November to 205.4.  

High car prices have contributed to affordability pressures for consumers, but incentives are helping drive sales. The latest edition of the Beige Book, citing data collected on or before Nov. 22 by the Federal Reserve, highlights areas of the country where sales activity has rebounded with incentives, while inventory continues to build. 

EV sales also grew in November, with nearly every major OEM reporting YoY increases. EV financing share rose 30.7% YoY in the third quarter, making up 10.1% of total new-vehicle financing.  

In powersports, Bombardier Recreational Products’ North American retail sales decreased 11% YoY while product revenue also declined.  

In this episode of “Weekly Wrap,” Auto Finance News Editor Amanda Harris and associate editors Ashley Savage and James Van Bramer discuss trends in vehicle pricing, EV sales and powersports finance for the week ending Dec. 6.