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Why do used electrics drop so quickly in price?
(lemmy.world)
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Only one comment barely touched on it, but the price of gas is a huge factor. 2 years ago, gas prices were generally higher and very unstable. This drove the demand for EVs up. Because of supply chain issues, no one could make any cars fast enough. This scarcity combined with the gas prices drive demand while restricting supply.
Come to today and you have the gas prices being stabilized in the US by tapping into the strategic reserve. Once the election cycle is over expect that to stop and gas prices will again rise and become unstable again. EV demand will jump, so we should see the used market adjust accordingly. If you want to go with a used EV in the next couple years, now till November is the time.