Hard to see this market going any other direction given the huge costs of battery replacement and inverters, dealers don’t want to warranty the second hand ones unless they have manufacturers warranty still in place. It’s a risky little investment, I know the dealers in this article are dressing it up differently but really the appetite isn’t there for used EV
This is a really good analysis of what might be happening in the market. tl;dr the reduction in the grant affects sales (in countries across Europe, EV sales are slower where, surprise surprise, grants have reduced) and there’s a challenge moving from early adopters to mainstream buyers.
Used electric vehicles battery life probably down more than that.
I mean why would you buy one? It’s cheaper to maintain a non-EV one.
Might be a decent time to buy used. I would consider going electric myself (love the look of the E-Tron GT, especially at the rate it’s depreciated), but I like my vroom vroom machine too much for now.
Seems like a buying opportunity for the right one (get away from me Leaf).
Because they’ve been charging near new prices for used cars.
I don’t have anywhere at home to charge these things, and public chargers are too expensive, scarce and unreliable. And Tesla I unfortunately now consider to be a toxic brand (for new cars) given the antics of the CEO. It’s all downsides right now, maybe once a public charging network is rolled out and there’s more second hand stock available from some of the other brands it’ll be more attractive.
At this point in time hybrids are the best option for those who want to make the step forward. We’re not ready for full electric yet
Afaik Chinese manufacturers like BYD are building factories in Hungary Romania etc and will soon be able to bypass the EU tariffs designed to protect European manufacturers, with Chinese givt subsidies they would sell for half the price of EU cars if it weren’t for the tariffs. A big drop in prices might happen soon.
This was always going to happen. The price of new electric cars is falling all the time so naturally the price of used ones will fall as time goes on.
I’m very much in favour of the idea of electric cars. But I still can’t afford one. My current car is a 2010 citroen that cost me 2K. When second hand evs come down anywhere close to that I’ll get one. Until then, I can’t afford one.
Got a Hyundai ioniq (21) for 20k last year. Night time EV rate of 6c. Basically driving around for almost free all this year. If your on the fence on electric, I would recommend jumping.
Room to go, why would I buy a second hand at nearly the new price?
For me, as someone who has looked into buying an EV before, the main issues are the charging network and the fact that I wouldn’t consider a Tesla anymore because of that head ‘the ball.
I have a 2013 diesel that won’t last forever but while for five years I’ve been looking at the charging network and it doesn’t seem to be growing anywhere near enough.
15 comments
Hard to see this market going any other direction given the huge costs of battery replacement and inverters, dealers don’t want to warranty the second hand ones unless they have manufacturers warranty still in place. It’s a risky little investment, I know the dealers in this article are dressing it up differently but really the appetite isn’t there for used EV
This is a really good analysis of what might be happening in the market. tl;dr the reduction in the grant affects sales (in countries across Europe, EV sales are slower where, surprise surprise, grants have reduced) and there’s a challenge moving from early adopters to mainstream buyers.
https://www.ucc.ie/en/eri/news/whats-behind-the-fall-in-electric-car-sales-in-ireland.html
Used electric vehicles battery life probably down more than that.
I mean why would you buy one? It’s cheaper to maintain a non-EV one.
Might be a decent time to buy used. I would consider going electric myself (love the look of the E-Tron GT, especially at the rate it’s depreciated), but I like my vroom vroom machine too much for now.
Seems like a buying opportunity for the right one (get away from me Leaf).
Because they’ve been charging near new prices for used cars.
I don’t have anywhere at home to charge these things, and public chargers are too expensive, scarce and unreliable. And Tesla I unfortunately now consider to be a toxic brand (for new cars) given the antics of the CEO. It’s all downsides right now, maybe once a public charging network is rolled out and there’s more second hand stock available from some of the other brands it’ll be more attractive.
At this point in time hybrids are the best option for those who want to make the step forward. We’re not ready for full electric yet
Afaik Chinese manufacturers like BYD are building factories in Hungary Romania etc and will soon be able to bypass the EU tariffs designed to protect European manufacturers, with Chinese givt subsidies they would sell for half the price of EU cars if it weren’t for the tariffs. A big drop in prices might happen soon.
This was always going to happen. The price of new electric cars is falling all the time so naturally the price of used ones will fall as time goes on.
I’m very much in favour of the idea of electric cars. But I still can’t afford one. My current car is a 2010 citroen that cost me 2K. When second hand evs come down anywhere close to that I’ll get one. Until then, I can’t afford one.
Got a Hyundai ioniq (21) for 20k last year. Night time EV rate of 6c. Basically driving around for almost free all this year. If your on the fence on electric, I would recommend jumping.
Room to go, why would I buy a second hand at nearly the new price?
For me, as someone who has looked into buying an EV before, the main issues are the charging network and the fact that I wouldn’t consider a Tesla anymore because of that head ‘the ball.
I have a 2013 diesel that won’t last forever but while for five years I’ve been looking at the charging network and it doesn’t seem to be growing anywhere near enough.