Focus Shifting to Used Electric Vehicle Market

January 6, 2017

2016_tesla_model_s_90d_hatchback_27201717953Since the electric car resurged less than ten years ago, the market for used electric vehicles has been down with the exception of the occasional deal. The main reason for the observed trend is that the market in question is still very small. However, things are changing as the market is becoming significantly more active. This is attributed to the ending of leases. It is therefore, advisable to focus attention in 2017 to the used electric vehicle market. Cars rarely stay on the lot when they are returned after their lease use if over and the car is returned to the dealership. More often than not, such cars are put on wholesale auctions so that other dealerships can acquire them.

Car dealers can access these wholesale inventories, which is a great way of knowing the amount of money paid and the manner in which the market is evolving. Considering the current costs of 2013 electric vehicles, timing is perfect since three-year leases will be ending by now, and it is evident that there is a significant drop in price at the level of wholesale. The selling prices of different used electric vehicles can be obtained from the auction sites. For example, the 2013’s Tesla Model S has a selling price of $31,000. An interesting fact about Tesla and its Model S is that contrary to other car manufacturers, Tesla has direct control of the majority of the second-hand vehicle market for its cars. This control is attributed to the automaker’s direct sales model. This is why it is hard to get the model anywhere else apart from the company. Currently, it is difficult to get a pre-owned certified Model S. To be fair, Tesla sells the model for less than fifty thousand dollars with a new warranty.

Since the real conditions of these cars are not clearly known, it is difficult to state whether the deals are so good. Regardless of this fact, consumers can still opt for a Model S for its affordable cost. Other models include the Fiat 500e, which sells for only $4,000. The starting price of a new Fiat model is about $31,800. These prices are really good for three-year old vehicles that have relatively low mileage. Although the prices have not gone down drastically, there is still a good reason for consumers to keep their eyes on next year’s used car market. The production and delivery of electric vehicles in high volumes started in 2013-2014. Hence, the used electric car supply will be significantly high this year and next year.

Filed under: All Posts,Electric Cars,hybrid cars

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