Used EV value falling six times faster as resales slump despite Tesla's price cuts and battery capacity retention rates

[Redaktion]

Just about a year ago, used Tesla cars were a multibillion business as they fetched prices close to brand new vehicles over supply chain constraints and unprecedented demand. Now, however, nobody seems to want used EVs and prices are falling.

https://www.notebookcheck.net/Used-EV-value-falling-six-times-faster-as-resales-slump-despite-Tesla-s-price-cuts-and-battery-capacity-retention-rates.786905.0.html

[toto1234]

The only reasons for the existence of a global EV market, is the non-stop climate BS propaganda, and the government subsidies.

Before all this, in the real world, EV were a niche market and should have stayed so.

But now the governments have embarked in the even biggest BS and scam : the hydrogen car.

[john cleaner]

lower new ev prices naturally causes second hand car prices to fall. since it will be easier to just buy a new car and skip the second hand market. also use the lower new car prices to set lower price targets for second hand cars. hardly surprising.

[A]

Battery replacement costs are pushing used EV price down.

[Nobody Smith]

I have a Mode 3 along with a n ice vehicle. It has been working out great, but I wouldn't want it as my only option.
It's just another leftist tool to pander voters with.

[Vnk]

No thanks. 6 times the mineral requirements of a ICE car and much of it either conflict minerals like cobalt or sanction minerals like rare earths. No thanks. Good luck with mining the Earth clean.

[Bill Whitmore]

I actually want an EV but having a perfectly good diesel car I'm reluctant to make the change but seeing the EV I want to buy depreciate by 30% in two months makes me want to wait until I really need to change.

[Squirrel]

Ev failed in the year 1900.  It's failing again.  People don't realize what it takes to make battery packs, much less dispose of them

Nobody wants an EV now, the buzz wore off

[A]

Just about a year ago, used Tesla cars were a multibillion business as they fetched prices close to brand new vehicles over supply chain constraints and unprecedented demand. Now, however, nobody seems to want used EVs and prices are falling. [/i]

Talk about nonsense, the tax credit lowers resale value by the amount the tax credit is. If a car costs 50k and comes with a 7.5k tax credit, would you pay 45k for it 1 year used?

No thanks. 6 times the mineral requirements of a ICE car and much of it either conflict minerals like cobalt or sanction minerals like rare earths. No thanks. Good luck with mining the Earth clean.

That is false. If you read carefully, it says 6x more minerals of certain minerals, not all minerals.

Did you know ICE cars use infinite more minerals than EVs (when only mineral counted is platinum)?

Why would you want an ICE car when it uses infinite more minerals?

PS Cobalt is not a conflict material, and not all EVs use cobalt, LFP for example do not. But cobalt is used for refining oil

Ev failed in the year 1900.  It's failing again.  People don't realize what it takes to make battery packs, much less dispose of them

Nobody wants an EV now, the buzz wore off

EVs didn't fail in the year 1900, actually EVs outsold gasoline cars and were more popular. But those EVs for back then were not the same EVs that we have today as they use completely different technology. IT is like comparing a steam engine to a nuclear reactor. Both work by boiling, but completely different things

EV sales are growing rapidly, in US EV sales are likely to hit 9% in 2023, up from 5.8% in 2022. Europe they already past 20%, and China they are past 30%

[A]

Europe they already past 20%, and China they are past 30%

These numbers are heavily driven by commercial vehicles though.

[Dale Hebert]

This is simply not the case when it comes to Tesla. I just sold my 2021 Model Y with 77k miles on it to CarMax for $31k, That's $3,500 over Kelley Blus Book and about $8,000 more than I'd be able to get for  the equivalent BMW X3, which cost about the same new. My new 2023 Midel Y long range cost $38,000 after the Tesla year end discount and Federal Tax credit, plus tax and license. Essentially I drove 77k miles for $7,000 plus tax and license. Only maintenence costs were tires and wheel alignment. Not many deals better than that out there!

[A]

Europe they already past 20%, and China they are past 30%

These numbers are heavily driven by commercial vehicles though.

No, a lot of it is driven by cheaper EV options in Europe and China