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Stock impact report

Wholesale Used EV, Hybrid Values Rising Amid Record Gas Prices [Yahoo! Finance]

ACV Auctions Inc. Class A (ACVA) 
Company Research Source: Yahoo! Finance
The average price of gasoline in the U.S. hit a four-year high of $4.18 a gallon on Monday, only days after it retreated to $4.03, according to the Triple A. Until the war in the Middle East broke out at the end of February, the price of gas hadn't breeched $4.00 since 2022, a bitter pill for drivers of gas-powered vehicles to swallow as they watched cost of a fill up thin their wallets. With no estimate as to when the conflict will end or how soon gas prices would abate after a truce, many consumers who previously rejected buying a new battery electric or hybrid vehicle because of price, are suddenly taking a second look for more affordable models at used car lots. They may be disappointed, however, as the law of supply and demand is sending the prices higher that dealers pay for electrified vehicles on the wholesale markets, as much as a 5%-10% “meaningful change” according to John Coles, vice president of data science & analytics at online wholesaler ACV Auctions. Such a b Show less Read more
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