Oh No - EV's worthless---Funny that they are described as a computer on wheels...
How much will you pay for a 4 year old computer??
Used electric car prices plummet after two years, data finds
Planning to sell your EV on the used market?
Used electric cars have below-average resale value and spend a longer time on sale than other used cars, new Australian data has found.
According to the data – shared by the Australian Automotive Dealers Association (AADA) and automotive insights company AutoGrab – used electric cars see a most dramatic drop in their retained value after two years, particularly when compared to the rest of the market.
Retained value reflects how much of a car's value when purchased new it would hold if sold today. For example, if a 2018 Toyota HiLux purchased new for $80,000 has a retained value of 85 per cent after two years, that means it would be worth roughly $68,000 if sold on the used-car market in 2020.
While electric cars five years of age or older were worth less than 25 per cent of their original purchase price when resold.
Average value retention for used cars in Australia in December 2023
|
Column 1 |
Column 2 |
Column 3 |
| 1 |
Vehicle age |
Electric cars |
Entire market |
| 2 |
0–2 years |
82.8% |
95.5% |
| 3 |
2–4 years |
57.6% |
85.9% |
| 4 |
5–7 years |
24.1% |
68.8% |
Another good reason to stay away (unless you are cashed up & that sort of loss doesn't bother you)
