Used EV prices are falling, but long-range models seem to hold up better, according to auto news.
As analysts try to apply used-vehicle value measures to a growing number of used electric vehicles, JD Power is applying a “fairly substantial deduction” to the residual value of the vehicle. any vehicle model with a range of less than 275 miles, which the company considers current. industry average, according to the report.
The report says JD Power is also examining the impact of charge time on residual value, while Black Book is building residual value models that take into account both charging time and range.
Chevrolet Bolt EV 2019
These efforts to more accurately predict the remaining range of EVs take place amid market volatility. According to Black Book data cited by Automotive, 3-year-old electric vehicles on average kept 66% of list price for a short period of time in October, marking the first time used electric vehicles have kept better value than the entire used car market. News. However, used EV prices are actually falling.
Next price increase Starting last spring, the average price of 2- to 4-year-old electric vehicles began to decline in July and fell below the market average by the end of October, the report said. That is mostly in line with the analysis done by the company Recurrent, released in October and stated that Used EV prices have peaked.
Nissan Leaf 2020
Before the pandemic, electric car not Tesla depreciate significantly more than similar gasoline vehicles—partly a result of the incentives that pushed the market price far below the MSRP in the first place.
Looking at the list price/ask price, used electric car price increase even more obvious – one of many signs that demand outstrips supply. By some indications, that’s a trend that was already in place before the pandemic; in 2019, the price of used EVs was start tracking higher. That trend appears to be moving on its own, though it remains to be seen exactly how much the price of used electric vehicles will fall.
