Surge of off-lease/used EVs, TCO shocks, reliability and pricing volatility [developing]
Key Questions
How much did used EV sales grow in the US Q1?
US used EV sales rose 30% in Q1, with Manheim hitting a 37k record and retail off-lease sales up 12% to 100k amid the off-lease wave.
What is happening with used EV sales in the UK and Australia?
UK used EV sales surged 60%. In Australia, fuel surges are driving EV interest.
How are gas price spikes affecting EV inquiries?
Gas spikes boost EV inquiries and highlight TCO advantages, but prices over $4 favor hybrids. Home charging offers savings.
What does Consumer Reports say about EV reliability?
Consumer Reports notes EV reliability issues persist, though Tesla tops rankings and PHEVs offer 3x mpg efficiency.
Why are used EVs attractive now?
Used EV prices are falling despite busy markets, with off-lease waves and fuel balloons making them tempting. Modular repairs aid maintenance.
What unexpected costs come with EVs?
Owners face potential repair, battery degradation, and charging setup costs. TCO shocks arise from pricing volatility.
Are EV owners switching back to gas?
Data shows EV owners more likely to buy gas-powered next than hybrids, amid reliability concerns.
What makes used EVs a good buy?
Rising fuel and falling energy costs spike used EV sales; bargains like cheap Chevy Bolts offer value.
US used EV Q1 +30%, Manheim 37k record/100k retail +12% off-lease wave; UK +60%; Aus fuel surge; gas spikes boost inquiries/TCO but $4+ favors hybrids; modular repair; CR Tesla top/PHEV 3x mpg; home charging savings.