https://insideevs.com/news/778487/used-evs-selling-faster-than-any-other-powertrain/
As affordability pressures continue to affect the broader car industry, used EVs are emerging as the new bright spot, becoming the fastest-selling used vehicles of any powertrain in the third quarter.
Three-year-old used EVs are selling faster than used gasoline, diesel, hybrid and plug-in hybrid vehicles, according to market intelligence firm Edmunds.
Why?
Used EVs, meanwhile, deliver one of the strongest value propositions in the market. When viewed against their original MSRPs, many have depreciated dramatically, offering shoppers access to advanced technology and performance at prices far below new. In many ways, used EV buyers are embracing technology that’s just one generation old.
EVs like PCs evolve rapidly with new technology that is pricey when new but older models are severely discounted in pricing.
Perhaps the advancement of EVs in fleet conversion will be by used EVs rather than new EV sales.
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We should also mention the EV price war. Especially vs BYD. That reduces list price of new EVs and puts pressure on used EV prices. Hertz took big losses on its EV fleet. And they now have a parking lot full of them waiting for a buyer.
Yes, used EV could be very competitive w new. And owners took a big hit on depreciation. They do not hold their value. Will that restrict future sales too?
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https://insideevs.com/news/778623/used-evs-are-selling-faster-than-used-gas-cars/
Take a look at the average prices of three-year-old used EVs in the table below. Apart from the Model S, which averages $44,621, the rest of the seven EVs are all priced in the mid-$20,000s, which is emblematic of how affordability drives adoption. In most cases, buyers are getting a far more high-tech vehicle compared to gas cars of the same price, and with much lower operating costs.
In the mid-$20,000 price range, however, the value proposition for EVs is strong.
Will the mid-$20000 price be maintained as these fly out the door sold? Doesn’t supply & demand apply to used EVs?