Used EV prices to fall 30% in '13

[Capt Worley PE]

Washington — The value of the average used plug-in electric hybrid vehicle is expected to depreciate nearly 30 percent this year, the biggest decline of any vehicle segment, the National Automobile Dealers Association Used Car Guide says.

“The steep rate of depreciation for used plug-in electric vehicles can be attributed to limited range, manufacturer incentives and federal tax credits intended to offset the higher prices of new plug-in electric vehicles,” said Jonathan Banks, executive automotive analyst for the NADA Used Car Guide. “Generous tax credits can certainly promote more new sales than would have been achieved otherwise, but they also have a negative impact on future resale values for one basic reason — few consumers are willing to purchase a credit-ineligible, used plug-in electric vehicle for more than they would pay for a new one, less the federal tax credit.”

A 2011 Chevrolet Volt with a manufacturer’s suggested retail price of about $40,000 has fallen in value to about $21,235, or 49 percent of the original value, while an electric Nissan Leaf’s value has fallen by more than half to $14,792. or 42 percent of the orginal suggested price.

From The Detroit News: http://www.detroitnews.com/article/20130619/AUTO01/306190080#ixzz2Wm3lAl5X

Great news if you're looking to buy used.

 

[Capt Worley PE]

Honda gets in on the action: http://www.businessweek.com/articles/2013-06-20/why-hondas-unloading-electric-cars-for-cheap

 

[Master slacker]

I still don't understand why they're called "zero emissions vehicles". When I worked in the power generation business, emissions were daily discussions...

Maybe the public is stupid...

 

[Capt Worley PE]

^More like the government is.

The public isn't buying......