this post was submitted on 17 Mar 2024
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[Dormant] Electric Vehicles
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It's not really surprising. A large portion of an EV's pricetag is the battery pack, and that's a wear part. Kind of like buying a used cellphone: if the battery is half spent and it won't hold a charge for a whole day, it's not really worth buying at all. Not to mention, even if the car is reasonably recent, you don't know if the owner let the battery deep-discharge or drove it in super-cold weather and damaged it even more than normal use and aging would. In a regular vehicle, you can assess the condition of the major parts. In an EV, you can't really tell if the battery is hosed before it's too late.
In other words, an EV is something you want to buy new, to make sure you know its history, and to get its best years of service out of it.
That may be part of it, but I'd say another big force is more competition in the EV market.
We went from almost no competition to most major auto brands having new offerings.
Further, the general price of an EV has highly fluctuated which does not help. It has inverted a couple of times which will make people hold off buying used when new might be cheaper.
Yeah I agree, battery degradation has very little to do with it. I was about to buy a used EV until Ford dropped mach e prices recently. I ended up getting a new car for less than used listings.