The online market experienced a robust 4th of July weekend, particularly in the sales sector. Friday alone saw $8 million in transactions, followed by an additional $9 million over the weekend.

Despite global uncertainties, the car market continues to demonstrate resilience and growth. While car values fluctuate, as evidenced by the recent online auction statistics for various models, the overall trend remains positive.

With the election just around the corner, you can bet we'll see at least one interest rate cut. Now, that's where things get interesting. Will it fire up buyers or leave them sitting on their hands? Your guess is as good as mine, but I'll be keeping a close eye on how the market reacts. Could make for some fascinating shifts in buying behavior.

There are no comparable sales for this awesome Shelby.

This Porsche is too new to have enough comparable data points.

This Porsche is too unique to have enough comparable sales data.

As some of you know, AutoTrader - the publishing giant owned by Cox Automotive (think Kelly Blue Book, Manheim, Dealer.com) - launched their own online auction platform last year. And boy, what a train wreck it's been. I've ranted about this mess before here & here , but it just keeps getting worse.

One of our community members just sent me a screenshot that'll make your jaw drop. Get this: AutoTrader sent an email saying an auction was ending in 2 hours, then two minutes later - bam! - another email saying the auction's closed. You can't make this stuff up.

Look, I get it. Every auction site hiccups now and then. But when you're AutoTrader, for crying out loud, you don't get to play amateur hour. Your site shouldn't look like it was cobbled together by a freshman coding class, (see below) and you definitely shouldn't be making rookie mistakes like this.

I'd bet my bottom dollar Nathan Coe, AutoTrader's big cheese CEO, hasn't got a clue about this fiasco. But he should.

It's beyond embarrassing for a company that's supposed to be an industry leader. It's downright pathetic.

So what is going on with the EV Market?

This 2022 Lucid Air Grand Touring that just hit the online auction block We're talking top-shelf EV here - 800 horses under the hood, a 112-kWh battery pack, and enough fancy gadgets to make James Bond jealous. Original sticker price? A cool $140,500. Now, you'd think this baby, with barely 5,000 miles on the clock, would be hot property, right?

Wrong.

The auction wrapped up with a high bid of $61,111. And no surprises that didn’t meet the reserve. Let that sink in for a second. We're looking at a nearly 57% nosedive in value in less than two years. That's not depreciation, folks. That's a free-fall with a concrete landing.

And if you thought Tesla was going to dodge this bullet, think again. Even the almighty Cybertruck is getting a reality check. We've seen two recent listings on Bring a Trailer crash and burn - one couldn't seal the deal at $100,000, and another fell short at $91,000. Both walked away with their tails between their legs and a big fat "Reserve Not Met" stamp.

Now, anyone with half a brain in this market could've seen this coming. Cybertruck prices have been on a slow slide for a while now. But seeing these high-profile auctions flop? That's like watching your invincible childhood hero trip and faceplant. It just drives home the point that even Tesla's golden boy isn't bulletproof in this cooling market.

But wait, there's more! Mercedes-Benz, you know, that little German outfit that's been making cars for a minute or two, just dropped a bombshell. They're saying combustion engines are going to be a big part of their business right up until the 2030s. Why? Because their EV sales have been about as impressive as a wet firecracker.

What does all this mean for the online auction world and EV market at large? Well, the days of flipping EVs faster than pancakes at a Sunday brunch are over, kids. Buyers are getting savvy, sellers are facing a harsh new reality, and that EV premium? It's evaporating faster than a puddle in the Sahara.

For all you would-be EV flippers out there, consider this your wake-up call. The market's not what it used to be. Do your homework, keep your expectations in check, and maybe, just maybe, think twice before betting the farm on the next big EV thing.

The EV revolution isn't dead, but it's sure as hell hitting some speed bumps.