Electric vehicle prices are tumbling. Here's the financial impact. [Yahoo! Finance]
Cars.com Inc. (CARS)
Last cars.com inc. earnings: 2/26 07:30 am
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Source: Yahoo! Finance
The result is that EV prices, in some cases, are approaching those of gas-powered cars, after adding in federal tax credits. The average price of a new EV in May was $56,648, according to Kelley Blue Book, or about 15% lower than two years earlier, when the average price was $65,000. Meanwhile, used EV prices plunged to $28,767 last month, representing a 42% decline from $40,783 a year earlier, according to iSeeCars. Prices are falling, in part, because EV sales have hit a plateau in the past year or so, Jenni Newman, the editor-in-chief of Cars.com, told CBS News. Still, the sticker prices on EVs tend to be higher than those of gas-powered cars, although that gap is narrowing as dealers cut prices on electric-powered vehicles. "So we're seeing inventory build up, both on the new side and the used side, which means there are deals to be had," she said. While a record 1.2 million EVs were sold in the U.S. last year, according to Cox data, experts expect 2024's sales to remain a
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CARS
News
- Q1 Earnings Outperformers: Cars.com (NYSE:CARS) And The Rest Of The Online Marketplace Stocks [Yahoo! Finance]Yahoo! Finance
- The most American-made cars include Toyota and Honda models [Seeking Alpha]Seeking Alpha
- Foreign Automakers Lead the Charge in Cars.com's American-Made Index [Yahoo! Finance]Yahoo! Finance
- Foreign Automakers Lead the Charge in Cars.com's American-Made IndexPR Newswire
- Electric vehicle prices are tumbling. Here's how they now compare with gas-powered cars. [CBS News]CBS News
CARS
Earnings
- 5/9/24 - Beat
CARS
Sec Filings
- 6/18/24 - Form 4
- 6/14/24 - Form 144
- 6/11/24 - Form 8-K
- CARS's page on the SEC website