Trend I am seeing now as I look for a car to purchase this month. I have been watching prices closely for over a year.
The prices in the used car market is declining rapidly. It used to be that a new car lost around 10-15% of it’s value in the first 30K . Today I am seeing cars that drop 30-40% in 30k miles.
They next 60K miles they only lose another 10-15%.
The used car market shows what the average consumer can actually afford. The new car price is to take advantage of the top 10% and the financially ignorant.
Probably doesn’t help that the leaf has made a name for itself for battery degradation due to previous model’s lacking any sort of thermal battery management, so they probably see some of the worst depreciation due to that association.
It is a price trend for all EVs though: probably also caused by no one wanting a swasticar, and then other brands similar second hand EVs prices tend to follow Teslas, as not everyone cares about being associated with Nazis, so they are competing on price somewhat. Then there’s also Chinese EVs that are crazy cheap new…
Trend I am seeing now as I look for a car to purchase this month. I have been watching prices closely for over a year.
The prices in the used car market is declining rapidly. It used to be that a new car lost around 10-15% of it’s value in the first 30K . Today I am seeing cars that drop 30-40% in 30k miles.
They next 60K miles they only lose another 10-15%.
The used car market shows what the average consumer can actually afford. The new car price is to take advantage of the top 10% and the financially ignorant.
Used EVs plummet like rocks. You can get a 6 year old Leaf for $8K or less.
Probably doesn’t help that the leaf has made a name for itself for battery degradation due to previous model’s lacking any sort of thermal battery management, so they probably see some of the worst depreciation due to that association.
It is a price trend for all EVs though: probably also caused by no one wanting a swasticar, and then other brands similar second hand EVs prices tend to follow Teslas, as not everyone cares about being associated with Nazis, so they are competing on price somewhat. Then there’s also Chinese EVs that are crazy cheap new…