this post was submitted on 16 Jun 2024
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Electric Vehicles

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Why do used electrics drop so quickly in price? (lemmy.world)
submitted 3 months ago by root@lemmy.world to c/evs@lemmy.world
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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?

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[โ€“] fuzzzerd@programming.dev 1 points 3 months ago

I think the trouble is that many people that need the reliable 7k car, also need the road trip capabilities because that's their main mode of using their time off, because owning two cars and/or flying are out of the price range for folks that need a 7k car.

Until that's solved by better charge infrastructure or better range (or both) EVs aren't a good candidate for those folks and they're a sizeable part of the market.