Industry News and Events

Used Vehicle Market Takes Solid Step Toward Recovery

11/05/2020 12:18 PM

The used vehicle market takes a solid step toward recovery with consistent improvements in wholesale volume and prices. Wholesale auction sales remained depressed through the week ending May 3, however, sales continue to recover as key industry stakeholders come back online and dealers progressively plug holes in retail inventory. Sales exceeded 50,000 units for the week, a figure around 50% of pre-virus expectations but well above the ~80% delta versus initial expectations recorded in early April.

EV Pulse: Tesla Model Y Unveiled

Tesla unveiled their Model Y SUV last week. Pricing starts at $47,000 and production will start sometime in 2020. There will be a $39,000 version as well but it will not be available until later down the road. The Model Y will be the fourth vehicle in the California automaker's lineup, the new SUV has the potental to be the most successful model Tesla sells.

Porsche Mulls Expanding Hybrid Technology to the 911

Porsche is on a mission to electrify its lineup. Tightening emissions standards have forced many automakers to turn to alternative power sources. With the fully electric Mission-E on the horizon and the introduction of the Panamera Turbo S E-Hybrid, the German sports car brand is now looking to add battery power to its most iconic model. According to Bloomberg, the next generation Porsche 911 will get a hybrid variant.