this post was submitted on 23 Feb 2024
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Electric Vehicles

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The used electric vehicle market could tempt EV-curious drivers (www.bbc.com)
submitted 8 months ago by [email protected] to c/[email protected]
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For the first time, consumers will have a vast pool of used EVs available for purchase. Will hesitant drivers buy them?

Twenty-thousand Teslas are about to flood the US used-car market, as rental-car giant Hertz seeks to shed a third of its electric vehicle fleet.

For drivers, it's a chance to snag a Tesla for well below market rate. The Hertz Car Sales website shows more than 200 used Teslas selling for less than $25,000 (£19,800), as of this writing. In comparison, a new Tesla Model 3 – the company's least-expensive offering – starts at $35,990 (£28,500). These prices are even lower than the US's cheapest new EV, a Nissan Leaf, which sells for around $29,000 (£22,965).

As Hertz sheds its stock, experts also expect more used electric vehicles will hit the market from dealerships, other rental fleets and private owners, particularly as three-year leases expire. For consumers who have been EV-curious, the new global secondary market presents a prime opportunity to purchase one at a steep discount – especially at a time when automakers continue to struggle with bringing down prices on new models.

"From next year onwards, there will be very significant volumes [of used EVs], and we can expect prices to go down significantly," says Thibaud Simphal, Global Head of Sustainability for Uber.

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[–] [email protected] 3 points 8 months ago

I'm seriously considering a 2022 Chevy Bolt in my area (25k miles, $16k after tax credit). I typically buy cheap used cars, but the used market in my area is awful...