The residual value of electric cars is falling more and more
The discount for electric cars has increased sharply between 2020 and 2021 across the Rhine, while that of thermal vehicles has not changed. The fault of a second-hand offer which is starting to be very...
19/07/2022
The discount for electric cars has increased sharply between 2020 and 2021 across the Rhine, while that for internal combustion vehicles has not changed. Blame it on a second-hand supply which is beginning to be very abundant.
Between the accumulation of aid and bonuses which sometimes strongly disguise the "true" price of an electric car, and a market in transition chaining technical progress, the electric car market is almost like a speculative bubble ready to burst. Moreover, the first damage is felt on occasion.
A study by the DAT (Deutsche Automobil Treuhand) shows a strong evolution of the average residual values of electric cars. At the start of 2020, it was still roughly similar to that of a three-year-old petrol-powered vehicle (56%), but in one year the electric car has lost 5 points, while other energies have not moved. .
Why such a drop in a stable second-hand market? There are many reasons for this, but the main one is the increasingly large second-hand supply, while the new market is rapidly evolving, as are battery capacities. The ecological bonus and aid also distort the calculations during resale.
Just look at the ads to realize the huge discount on consumer models. The Renault Zoe, the Nissan Leaf, and even Korean models are found at particularly low prices, despite very low mileage.
A concrete example: a 2017 Kia Soul EV sold for €14,000 (it is clearly mentioned in capital letters that the price is negotiable), displaying 22,000 km. A model that was displayed at €37,000 in 2017!
But with the bonus, no one obviously acquired it at this price. One example among many others in hundreds of pages of electric car ads that accumulate. There are deals to be had for those who want a low-cost, zero-emission vehicle as a second car from the household, but for dealers, it's a fast cross and the banner to find a buyer without seriously undercutting prices. Obviously, this affects less the top of the range and brands like Tesla, which are less concerned by ecological aid and bonuses because of the high selling prices.