01-31-2024, 04:04 AM
(01-31-2024, 02:06 AM)kruddler link Wrote:As the article said, its hard to make sense of those figures without more data, but there is a couple things seem to be at play.
People selling used EVs are taking longer to sell, and they are averaging a lot less value compared to the others. This to me suggests that these ones for sale are put up at an overinflated price, which is why they are not selling. They eventually have to drop the price to below what they'd expect, just to cut their losses. Which makes sense with the data as a possible reason.
However, it also states there is very limited data (thus supply) of used EVs on the market. That SHOULD mean that a lack of supply yields an increased in demand and thus drives prices up....not down.
Ultimately, the only scenario that makes sense is that people simply do not want used EVs. You which would think that it would have to be at least in part due to their 'scrap value' after 10 years when the battery life is suggested to be next to useless.
The people who can afford new cars don't keep cars until they die, they just churn them over and upgrade to the newer models every 2-3-4 years.
The people who can't afford new cars, want something that they can rely on for the long term. It appears EVs are not that and people are voted with their wallet.
Or the relative newness of the tech and most people’s ignorance of the pros and cons of that tech means that at the moment people are conservative when looking at a second hand ev and that’s not unreasonable.
They’ve got a wait and see mentality.
Let’s go BIG !