Used EV prices fall much faster than gas cars, according to iSeeCars - Autoblog
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iSeeCars found that used values are headed in the right direction, but gas vehicles are falling at a far slower rate than electric counterparts.

Used car prices have been heading in the right direction after months of elevated values and inventory shortages. Even so, the values of some vehicles have declined much faster than others, with EVs doing the heavy lifting. Automotive data outfit iSeeCars’ latest study looked at used car values over the past year, finding that used electric vehicles are dropping at a much faster rate than their gas-powered counterparts.

While used car values have been dropping overall over the past year, used EVs have dropped like a stone in comparison. iSeeCars found that the average for used electric models fell by up to almost 32 percent since 2023, while the used gas vehicle average price sank by just 3.6 percent.

  • helenslunch@feddit.nl
    8·
    3 months ago

    Couple of thoughts here:

    1. This is new technology, and every generation makes huge advancements over the last. That means the previous gens lose value quickly. Most notably, currently we are seeing a slow shift to the NACS charging standard. But obviously other improvements in battery density and charging speeds.

    2. We’re just recovering from crazy inflation of EV prices. New prices (particularly Tesla) have fallen precipitously, which drives down the value of used cars.

    3. These are not accounting for state or federal incentives that only apply to EVs.

    • Grass@sh.itjust.works
      12·
      3 months ago

      I wouldn’t call it new technology. Manufacturers just keep overcomplicating things and introducing additional points of failure and the advancements are mainly in built in spying tech.

      The diy conversions are still my preference having to date tested 8 different manufactured EVs and 4 diy builds.

      Manufacturers are all deluded though. If they just made a basic everyman’s ev with no bells and whistles, standard basic replaceable 2din head unit, 2 front speakers but mount points and prewired for rear speakers like the base level Honda configurations of days gone by, then they would guaranteed sell a whole fuckload of those and more than enough people would easily get roped into paying extra for the optionals and the people that don’t are the ones who otherwise wouldn’t have bought a new car at all. Instead they deck everything out in dumb shit that nobody wants and jack up the prices like ram and hard drive prices for apple computers.