Cheap, pre-owned EVs are about to flood the market. Is that a good thing?
Cheap, pre-owned EVs are about to flood the market. Is that a good thing?
The electric vehicle market could get a huge influx of cheaper cars — but not fresh from the factory. In its latest EV intelligence report, consumer research firm J.D. Power projects that a massive amount of EVs returning off leases in the US will provide a large supply of EVs for sale.
Of course it's a good thing. There's no way in hell I, or a lot of people, can ever afford to buy a whole new car of any kind. Used is the only option some of us have.
That's good news for consumers. For EV makers? A mixed bag.
Capitalism would actually be pretty cool if it wasn't predicated on the notion that the quicker consumers chuck shit into landfills to make room for more shit the better off we'll all be.
Person A turns in their leased car, leases another car. Person B buys that off-lease car. Manufacturers basically got two sales out of this already. Only way to get 3 sales is to throw that off-lease car in a dumpster
Every used EV sold is one less used ICE vehicle on the road.
Cheaper used EVs are absolutely a good thing, and critical for widespread adoption.
A used EV sound like a great deal. For one they tend to depreciate a lot. But on top of that it looks like there is a lot less risk to buy something that wasn't properly maintained and/or beaten up, since EVs are much more idiot proof in those aspects.
Depends on how much mileage the battery's had, as replacing it can double the range but also cost of the used car.
Edit: they're better than I thought! I expected 80% after 500 cycles, like phones, but they're closer to 90% after 3000 cycles!
More recent research on batteries in EVs is showing that the batteries will outlast the cars. Whether you realize it or not, you are spreading misinformation from the oil and gas industry.
https://cars.usnews.com/cars-trucks/advice/how-long-do-ev-batteries-last
Yes, 100% yes.