Video lesson: How much is a used EV really worth?

How much is a used EV really worth?

中古EVの査定価格とは?

https://www.youtube.com/watch?v=FPcD8Ap5q3Y

How much is your used electric vehicle really worth? There is a race among startups to help buyers figure that out. With traditional cars, their age and mileage make it easy to calculate. But that formula doesn’t work with EVs. An industry experts say that could be a threat to the electric transition.

For EVs, it’s all about the battery. A battery typically makes up around 40% of a new EV’s price. And its ability to hold a charge and driving range will determine the vehicle’s value. So how the battery is treated is key but until recently there was no way to measure it, making EVs riskier to buy and therefore harder to sell.

That’s changing as companies rush to scale up EV battery tests, some of which take just minutes. One startup Avalu found that EV battery health can vary up to 30% after 62,000 miles. It says a previous owner’s bad charging habits could potentially shave thousands off its value.

In the US, used EV prices in September were down more than 30% compared to last year, versus a 7% drop for fossil fuel models.

According to EV battery tracking startup Recurrent, a price war started by Tesla has also weighed on used EV prices and the race to properly value used EVs is becoming urgent because of a looming influx of vehicles. Many of the cars sold in 2021 will hit the used market in 2024 when their lease contracts end. In Europe alone, there were more than 1.2 million EVs sold. If used prices remain low that could hurt new EV prices even more.