Electric Vehicles

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Used EV Values Are In Freefall (insideevs.com)

submitted 2 months ago by [email protected] to c/[email protected]

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It's a brutal time to sell and a helluva time to buy. The used EV market is in freefall, and it's current owners that are holding the bag. But if you've been looking for the time to get into a modern, long-range EV, it may be now.

New data from Edmunds shows that EV values have fallen 20.5% year over year. That's a seismic shift. The overall used car market, for reference, has cooled by 6.8% over the same time period. That's a big swing for the market as a whole, but the EV swing is gargantuan. Compared to average used vehicle values during the second quarter of 2022, EV values in Q2 2024 are down a whopping 38.5%.

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[–] [email protected] 41 points 2 months ago (1 children)

They are worthless. You can’t own them because of all the criminal proprietary crap. The cars are unserviceable.

That's completely unrelated to propulsion technology, though. ICE cars are the same these days.

[–] [email protected] 1 points 2 months ago

Yep but you can buy an ICE from 7 years ago and be fine. EVs are absolutely dreadful for poorer folks.