78
Used EV prices fall much faster than gas cars, according to iSeeCars (www.autoblog.com)
submitted 7 months ago* (last edited 7 months ago) by MicroWave@lemmy.world to c/evs@lemmy.world
14 comments fedilink hide all child comments

Used car prices have been heading in the right direction after months of elevated values and inventory shortages. Even so, the values of some vehicles have declined much faster than others, with EVs doing the heavy lifting. Automotive data outfit iSeeCars' latest study looked at used car values over the past year, finding that used electric vehicles are dropping at a much faster rate than their gas-powered counterparts.

While used car values have been dropping overall over the past year, used EVs have dropped like a stone in comparison. iSeeCars found that the average for used electric models fell by up to almost 32 percent since 2023, while the used gas vehicle average price sank by just 3.6 percent.

you are viewing a single comment's thread
view the rest of the comments
[-] MrSpArkle@lemmy.ca 2 points 7 months ago

This year there is a 4k credit on used evs 2022 or older in the US. Some states have equal or greater rebates, you can get up to 9k off in some places. It's wild and there's going to be a LOT of savvy lower income people reducing their transportation costs in the next year.

[-] Anticorp@lemmy.world 2 points 7 months ago

That's awesome! I sure wish that would have been available when I bought my car. I loved the car, but I lost over half its value in the 2.5 years I owned it, which is unprecedented for certified pre-owned recent model cars.

this post was submitted on 17 Mar 2024
78 points (93.3% liked)

Electric Vehicles

3191 readers
140 users here now

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

Rules

  1. No bigotry - including racism, sexism, ableism, 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 — 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
pushpush@lemmy.world
whoopThereItIs@lemmy.world
cosmic_slate@dmv.social
cosmic_slate@lemmy.world