Quote:
Originally Posted by dgoldenz
I saw a post from the car dealership guy on Twitter with an ad for a 2023 Volvo C40 EV that was $58k MSRP with 10k miles on it for $28k. And that’s the advertised price which means they prob paid 23k in trade/wholesale.
Someone got fleeced. Nobody wants to buy a new EV now that people have seen the massive depreciation they’re taking, hence the massive rebates. The cycle will continue as the low resale will create a large spread between new and used where it doesn’t make sense to buy new unless you’re leasing. So then they have to heavily subsidize the lease and the cycle continues as values are further depressed for used ones.
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When I looked at the Ford Lightning used and new for a couple hundred miles around me, the 4 cheapest listings were NEW on the lot. That is awful and means the used market is basically paralyzed until dealers and individuals take the whipping and dump the inventory at discovery price, which will be painful.