From Transport Evolved.
Depreciation – in the automotive sense, how quickly a car loses value – is becoming pretty large in the electric vehicle world right now, with some models seeing their price on the used car market sitting at 60% of their new price after less than a year.
That’s causing some people to argue that EVs are a poor financial decision, and that lowering prices is a sign that nobody wants to buy them.
But as we’re about to explain, depreciation in the EV industry is so much more complicated than that.
Here’s what it is, what affects it, and how you can insulate yourself from the worst effects of it.
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00:00 – Introduction
01:36 – Quick Financial Disclaimer
02:35 – Depreciation in cars isn’t linear – nor is it easy to tie down
03:47 – Regional fluctuations can occur
04:20 – New models – and competing models – push the price down
05:51 – Oil and gas prices play a part too
06:10 – Poor reviews and sales can destory a vehicl’es value
07:18 – COVID – an historical anomoly for prices
09:07 – The drop in prices today of new EVs
10:28 – Changing technology pushes earlier obscelence
11:11 – How big is the depreciation?
11:57 – It’s even affecting Tesla 🙁
12:17 – What depreciation means for YOU
14:53 – So, what can YOU do about it?
19:22 – Thanks, and Goodbye
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Presenter, Script, Audio: Nikki Gordon-Bloomfield
Camera, Editor, Colorist: M. Horton
Art and Animation: Erin Carlie
Producer: Nikki Gordon-Bloomfield
© Transport Evolved LLC, 2024
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