FLEETDRIVE will have more to say on progress across 2024 .
Casting our eyes a little further out , new EV prices will keep coming down , which naturally impacts resale of existing vehicles with older technology . New battery chemistries and greater economies of scale will see to this .
On the other hand , over-the-air update capabilities will potentially add value to a car over time in terms of features and even power outputs and range , altering the traditional depreciation curve .
There will also be more choice in more segments . The looming New Vehicle Efficiency Standard expected to pass through Parliament and enter law from 2025 is going to mean more EVs will enter the market , particularly on the light commercial pickup and van side of the equation .
Globally some of our regions are ahead on this , and we think this is a good place to finish on . Manheim sold 48,000 used EVs in the USA last year , a 58 % increase , while our US Battery Services and Recycling division reconditioned 36,000 used EVs last year , a 43 % spike .
There are certainly challenges ahead , and there will be winners and losers among the early EV adopters . But in the fullness of time this market will mature , and open new opportunities .
Regardless , Manheim plans to be ready to ensure there are strong pathways for the fleet sector to dispose of their EV assets , particularly once we start to see large numbers of them in our auction lanes .
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