Used EVs prime marketplace for the primary time — briefly, says Black E-book


Kristen Lanzavecchia, director of trade options for J.D. Energy, mentioned the corporate’s residual worth forecast for EVs has “come up quite a bit,” with costs approaching 50 % of sticker in contrast with the mid-50 % seen on inner combustion engine automobiles.

“It is a fairly excessive quantity,” she mentioned.

New EVs competing with Tesla within the premium phase present “loads of positivity” on residual values, whereas even mainstream EVs from producers similar to Hyundai are aggressive, she mentioned.

Lanzavecchia mentioned a “shortage premium” additionally will buoy used EV values till provide catches up with demand.

Black E-book estimates the common of all 3-year-old automobiles will fall from 73 % of sticker in October to 61 % in October 2025; pre-pandemic, the worth had been within the 50 % vary.

The common 3-year-old EV by no means broke 35 % of sticker that month pre-pandemic, in response to Black E-book. However 3-year-old fashions held 66 % of sticker worth in October and are anticipated to maintain 55 % in October 2025, in response to the corporate.

Jeremy Robb, Cox Automotive senior director of market insights and enterprise options, mentioned latest EV leases anticipate comparable worth retention to gasoline-powered fashions.

Three-year contracts on 2022 fashions are being written with 66 to 67 % residual values when the leases finish in 2024 and 2025, in response to Robb.

“We’re seeing the identical factor for EVs,” he mentioned. EV leases for the 2022 mannequin yr set residuals at 64 to 65 % sticker, he added.

“That is fairly excessive,” Robb mentioned.

Lanzavecchia mentioned EVs have made up about 5 % of the market this yr, and J.D. Energy expects this share will double within the subsequent two years.

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