GLUT: EV prices drop up to 20% as new and used inventory surges. “Searches for new EVs on cars.com were up 14.9 percent year over year (14.7 percent month over month). And there are many more cars for buyers to pick from, with 107.7 percent more inventory than in March 2023 (or 8.8 percent more than this February). Those EVs are hanging around on lots longer than dealers might like, with an average of 91 days of inventory—the industry prefers to keep less than 60 days of inventory on hand and averaged 65 days for March 2024.”