We found a 2023 Hyundai Ioniq 6 SEL sitting on a California car lot for $13,995, which is under a third of the $45,600 MSRP that Hyundai wants for a new one. We Can’t Find a Catch on the Listing So, what’s wrong with it? Honestly, not much. It shows a clean title, and the […]
Brutal depreciation… but also a really great market for used EV buyers.
Seems weird, right? My working theory is that EVs are being overvalued by the manufacturers with inflated MSRPs, and that the used market sort of reveals fair-market value in an unexpected way.
I thought most cars lost that when you drove them off the lot.
Pretty sure you’re joking, but I am who I am, so I got to do the math.
Here, Edmunds has a really crisp infographic. By the Edmunds used car depreciation percentages, this Hyundai should be worth about ~65% of what it originally sold for, but instead it is being sold for half as much: https://www.edmunds.com/car-buying/how-fast-does-my-new-car-lose-value-infographic.html
Seems weird, right? My working theory is that EVs are being overvalued by the manufacturers with inflated MSRPs, and that the used market sort of reveals fair-market value in an unexpected way.