Why used EVs are the cheapest they've ever been

Описание: Inflation for used cars is on a downward trajectory, with prices declining by 9.3% year-over-year. However, a notable trend has emerged — used electric vehicles (EVs) are experiencing a steeper price decline compared to their traditional combustion engine counterparts. iSeeCars.com Executive Analyst Karl Brauer joins Wealth! to shed light on this divergence.

Brauer attributes the wider price gap to the "much stronger appetite" for EVs among new car buyers, driven by the many incentives. However, he highlights that these buyers are also "more value-focused," perceiving electric vehicles as "somewhat a demerit" due to the elevated costs associated with the vehicles. Consequently, the used car market has responded by offering more compelling pricing for EVs to facilitate their sale.
However, "I think there is a psychological element here too," Brauer tells Yahoo Finance, suggesting that consumers may be "apprehensive" about purchasing EVs, influenced by developments such as Hertz's (HTZ) decision to abandon their electric vehicle fleets entirely.

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