SNOWla with Experian: Used Vehicle Insights, Part 1

Episode 147

Amidst the unprecedented blizzard at NADA in New Orleans (nicknamed SNOWLA!), Kirsten Von Busch, Director of Product Marketing at Experian Automotive, joined the show and enjoyed a quick drive through the French Quarter in our Tesla Model X. Meanwhile, we had quite the discussion about the current dynamics within the used vehicle market. Kirsten points out Millennials continue to lead in used vehicle registrations, a trend that has evolved over the past five years, with Gen X closely following and slightly overtaking Millennials in the most recent year. However, the growing interest in electric vehicles (EVs) among younger buyers is a significant part of the conversation, with used EVs accounting for less than 1% of used retail registrations. Notably, Millennials are at the forefront of this emerging trend, making up nearly 40% of these registrations over the last rolling 12 months, indicating a stronger inclination towards EVs. Despite electric vehicles currently representing a small fraction of the market, the preferences of Gen X and Baby Boomers, who follow Millennials in used EV registrations, reflect a broader, generational shift towards alternative fuel vehicles. Press play to join the fun and be sure to bring your sense of humor : )

Check out Experian’s EV Resource Page for all things electric vehicle data.