• 4 minutes Trump will meet with executives in the energy industry to discuss the impact of COVID-19
  • 8 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 11 minutes Why Trump Is Right to Re-Open the Economy
  • 13 minutes Its going to be an oil bloodbath
  • 21 mins While China was covering up Covid-19 it went on an international buying spree for ventilators and masks. From Jan 7th until the end of February China bought 2.2 Billion masks !
  • 9 mins Ten days ago Trump sent New York Hydroxychloroquine. Being administered to infected. Covid deaths dropped last few days. Fewer on ventilators. Hydroxychloroquine "Cause and Effect" ?
  • 5 hours US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 5 hours China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 3 hours Real Death Toll In CCP Virus May Be 12X Official Toll
  • 3 hours Marine based energy generation
  • 7 hours Today 127 new cases in US, 99 in China, 778 in Italy
  • 2 hours What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 3 hours How to Create a Pandemic
  • 4 hours Apple to Bypass Internet and Beam Directly to Phones
  • 10 hours Which producers will shut in first?
  • 19 hours TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"

EVs Lose Resale Value Fast, But Not Tesla

Tesla charging

Electric vehicles (EVs) are depreciating much faster than the average for all cars, with one notable exception—Tesla, whose vehicles hold values better than their gas-powered rivals.

Automotive research firm and car search engine iSeeCars.com has examined the depreciation of EVs and found that the lightly-used electric cars—the average three-year-old used prices—in the EV segment depreciate on average 56.6 percent, compared to average depreciation of 38.2 percent for all vehicles.  

“Categorically, electric vehicles depreciate more than the average vehicle because resale values take into account the $7,500 federal tax credit and other state and local credits that were applied to these vehicles when they were bought new,” iSeeCars CEO Phong Ly says.  

“Because the technology of EVs changes at a rapid pace, obsolescence also plays a role in their dramatic depreciation as well as consumer range anxiety and lack of public charging infrastructure,” according to Ly.

The best bargains for those looking to buy a lightly used EV is Fiat 500e, which depreciates by 69.7 percent, followed by BMW i3, Nissan LEAF, Volkswagen e-Golf, and Ford Fusion Energi, according to an iSeeCars ranking.

Separately, iSeeCars has found that used late-model versions of the Tesla Model S are in high demand compared to similar luxury cars, and that despite high average prices, the Model S sells faster than its competitors.

An Autolist.com study found last December that Tesla Model S and Model X hold their resale value better than any of their gas-powered peers, with the Model S value down on average by 27 percent after 50,000 miles, compared to an average of 36 percent in its segment, and the Model X value down by an average 23 percent, compared to 33 percent in its segment.

Meanwhile, Tesla’s new vehicles sales in North America, its home market, reached an all-time high, according to a report by Electrek earlier this month, which cited exclusive information supplied by unnamed sources.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage




Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News