For the first time, consumers will have a vast pool of used EVs available for purchase. Will hesitant drivers buy them?
Twenty-thousand Teslas are about to flood the US used-car market, as rental-car giant Hertz seeks to shed a third of its electric vehicle fleet.
For drivers, it’s a chance to snag a Tesla for well below market rate. The Hertz Car Sales website shows more than 200 used Teslas selling for less than $25,000 (£19,800), as of this writing. In comparison, a new Tesla Model 3 – the company’s least-expensive offering – starts at $35,990 (£28,500). These prices are even lower than the US’s cheapest new EV, a Nissan Leaf, which sells for around $29,000 (£22,965).
As Hertz sheds its stock, experts also expect more used electric vehicles will hit the market from dealerships, other rental fleets and private owners, particularly as three-year leases expire. For consumers who have been EV-curious, the new global secondary market presents a prime opportunity to purchase one at a steep discount – especially at a time when automakers continue to struggle with bringing down prices on new models.
“From next year onwards, there will be very significant volumes [of used EVs], and we can expect prices to go down significantly,” says Thibaud Simphal, Global Head of Sustainability for Uber.
You are certain that the car will work if you take care of it. Used can be abused. If you have money to spare - why not.
I see that exactly opposite. Brand new can have manufacturing defects, warranty issues. A used car is proven. As long as you get it professionally checked over for mechanical issues, a late model car is very likely to be trouble free.
Whose QC do you trust more, random owner who gets a new car every three years or manufacturer who has made thousands of the same thing?
Both are likely to be trouble free, but a vehicle that’s been driven hard likely won’t show those signs until years down the road.