this post was submitted on 16 Jun 2024
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[Dormant] Electric Vehicles

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Why do used electrics drop so quickly in price? (self.evs)
submitted 5 months ago by root to c/evs
35 comments fedilink hide all child comments
 

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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[–] kikutwo 1 points 5 months ago (1 children)

Because of the cost to replace the batteries.

[–] root 2 points 5 months ago (1 children)

I've read that quite a few EVs have batteries where you can swap individual modules, and don't need to replace the entire battery arrangement if something fails. That seems to bring the price down significantly, especially considering you won't be spending money on oil changes, timing belts etc

[–] kikutwo 1 points 5 months ago (1 children)

If you are looking id grab one of those Hertz Tesla's for $25k

[–] root 1 points 5 months ago (1 children)

They're tempting, but Tesla's feel too sterile for my liking. Also not a fan of the center screen. I'd prefer one in front of the driver

[–] kikutwo 1 points 5 months ago

Check out the article on CNBC about values dropping