Electric Vehicles

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Sunshine@lemmy.ca

Used EV Values Are In Freefall (insideevs.com)

submitted 2 months ago by MyOpinion@lemm.ee to c/evs@lemmy.world

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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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[–] barsquid@lemmy.world 1 points 2 months ago

That's really useful to consider, thank you for going into some more details on that.