Recurrent has merely printed its September 2021 Used Electrical Automobile Shopping for Report. Whereas there’s a complete lot of knowledge throughout the report worth sharing, and we encourage you to watch the availability hyperlink beneath to check all of it out on your self, there are three foremost takeaways that deserve your consideration.
Recurrent reached out to InsideEVs to inform us that used car prices are lastly beginning to drop. We seen foremost inflation on the used market over the course of the summer season season, which was the product of a large number of issues. Nevertheless, as Recurrent components out, the market is starting to cool down, and prices are leveling off, though that’s not however true for electrical cars. The fact is, used EV prices would possibly proceed to rise going forward.
Used EV prices have climbed solely a bit from August to September, though Recurrent says the rise is successfully under one share stage (-0.39%). Pricing for all totally different automobiles dropped barely (-1.5%) all through the an identical time interval. Total, used electric car prices are up a whopping 17.5 % since March 2021. The worth bump since pre-pandemic ranges is even higher.
Nonetheless, the publication says about 50 % of used EVs are nonetheless priced beneath $25,000. Recurrent says automakers are planning to convey “workhorse” EVs to market that may start spherical $25,000 when new, which should set off a surge in electric vehicle adoption. The company’s evaluation implies that car clients pay shut consideration to “out the door” pricing, and a model new $25,000 EV might worth quite a bit a lot much less whether it is eligible for tax credit score.
Lastly, Recurrent mentions that, whatever the rising prices, used EV inventory has plummeted over the last six months. The highest EV states have seen inventory drops of at least 35 %, though some are down as quite a bit as 63 % since March 2021. Dealerships are struggling to hunt out used electrical automobiles to interchange these these days supplied. Recurrent says some sellers are going so far as to call former prospects to try to encourage them to advertise once more or trade-in their automobiles.
You’ll wish to click on on on the availability hyperlink beneath for Recurrent’s full September report, which is full with numerous charts/graphs highlighting the takeaways.
— to insideevs.com