this post was submitted on 16 Jun 2024
45 points (95.9% liked)

[Dormant] Electric Vehicles

3206 readers
1 users here now

We have moved to:

[email protected]

A community for the sharing of links, news, and discussion related to Electric Vehicles.

Rules

  1. No bigotry - including racism, sexism, ableism, casteism, speciesism, homophobia, transphobia, or xenophobia.
  2. Be respectful, especially when disagreeing. Everyone should feel welcome here.
  3. No self-promotion.
  4. No irrelevant content. All posts must be relevant and related to plug-in electric vehicles โ€” BEVs or PHEVs.
  5. No trolling.
  6. Policy, not politics. Submissions and comments about effective policymaking are allowed and encouraged in the community, however conversations and submissions about parties, politicians, and those devolving into general tribalism will be removed.

founded 1 year ago
MODERATORS
[email protected]
[email protected]
45
Why do used electrics drop so quickly in price? (lemmy.world)
submitted 5 months ago by [email protected] to c/[email protected]
35 comments fedilink hide all child comments
 

It's been years since I've checked the used electric market, but I'm seeing cars like the Hyundai Ionic 6 or Polestar 2 for low 30s, where as they were in the high 40s or mid 50s new a year ago.

My suspicion is that:

  1. Normal car depreciation when driven off the lot
  2. General fear of batteries wearing down prematurely, even if the car has ~10k miles
  3. Any applicable federal rebates or otherwise have already been claimed and can't be claimed on used vehicles(?)

Is there any other reason why these drop so quickly? Would buying one be considered foolish in anyway?

you are viewing a single comment's thread
view the rest of the comments
[โ€“] [email protected] 14 points 5 months ago* (last edited 5 months ago)

Fast moving new technology means a larger gap between the used and new market. Combine this with effects of smaller volumes per model and they start high and fall fast.

It will change, but 'early adopters' are carrying some of the costs of transition - though only realise losses at time of sale (so keeping the vehicle longer will cost you less than frequent refreshes).

Edit: and no, buying one is not foolish. For many consumers, a midrange EV is already a saving over a reasonable lifetime.