Comment by nikcub
5 hours ago
Resale value is starting to ward some people off.
You can buy 1-2 year old used Teslas and BYD's in Australia for ~30% below retail.
Meanwhile Toyota hybrids not just retain their value but there have been moments where used RAV4's are listed above retail because the waitlist for new was so long.
Tesla is a special case because they manipulate their pricing on a monthly, sometimes daily basis, and in the past they've changed the price quite significantly. In the US, the tax credits also really screw with the market dynamics. Lots of people think the car depreciates really quickly because they don't realize the original buyer didn't pay MSRP. I paid $20K under MSRP for my Lightning and in the just over a year I've owned it, the value has dropped about 7-8K. Pretty normal for the first year of a new vehicle.
The poor resale market for EVs just means that people who actually have some understanding of the battery lifespans can get very good deals on 1-2 year old cars