https://www.cnbc.com/2024/04/05/poor-resale-values-of-evs-ar...
Edit:
A recent study from iSeeCars.com showed the average price of a 1- to 5-year-old used EV in the U.S. fell 31.8% over the past 12 months, equating to a value loss of $14,418. In comparison, the average price for a comparably aged internal combustion engine vehicle fell just 3.6%.
https://spectrumnews1.com/ca/la-west/transportation/2023/11/...
The Tesla Model S topped the list of EVs that depreciated most over five years; it lost 55.5% of its value, according to the analysis. Rounding out the top five were the Chevrolet Bolt EV (-51.1%), the Nissan Leaf (-50.8%), Tesla Model X (-49.9%) and Tesla Model 3 (-42.9%).
Overall, the average vehicle lost 38.8% of its value after five years, according to the analysis. Trucks retained the most value (depreciating 34.8% over five years), followed by hybrids and SUVs, which depreciated 37.4% and 41.2% respectively.
Environmental guilt only goes so far in terms of sales. For large adoption, the depreciation problem needs to be solved. Wealthy people (1st buyer) can afford to throw money at EVs over and over again and usually keep their vehicle only 2-3 years. Middle class (2nd buyer) need a dependable car that costs less per month (cost minus sell value) and lower class people (3rd buyer) need a vehicle that will last forever. The current state of EV's only satisfies the first and maybe some of the second buyer market while an ICE satisfies all three.
EV's sure are cool though.
