It’s a brutal time to sell and a helluva time to buy. The used EV market is in freefall, and it’s current owners that are holding the bag. But if you’ve been looking for the time to get into a modern, long-range EV, it may be now.
New data from Edmunds shows that EV values have fallen 20.5% year over year. That’s a seismic shift. The overall used car market, for reference, has cooled by 6.8% over the same time period. That’s a big swing for the market as a whole, but the EV swing is gargantuan. Compared to average used vehicle values during the second quarter of 2022, EV values in Q2 2024 are down a whopping 38.5%.
Not really on a deeper level. The systems underpinning all present vehicles are all proprietary garbage. It has been that way since around 2013 when cars started having modems and acting as data mining stalkerware that steals your digital person for manipulation and exploitation.
There were already many schemes present where digital theft was already an issue, but after the acceptance of stalkerware as standard, you’ve completely lost true ownership of any vehicle. The worst offenders are ALL electric vehicles, but any vehicle in the last 10 years is completely worthless second hand. This shift made the poor of society far more impoverished in the long term and creates a massive barrier in wealth disparity that will become far clearer to see in the next 10 years.
I painted cars for these kinds of general used car lots in the aughties. I even dabbled in buying for dealers at wholesale auctions. I can see the market clearly when I see what these kinds of dealers carry right now. It clearly looks like the world is sinking into something like the Cuban embargo where dealers are doing anything they can to acquire and resell the last age of ownable models that can be found at dying auction houses. It is the end of ownership. That means the end of autonomy. This is not just an EV problem, but it is an E problem. And it absolutely is a soft coup against democracy.
You need to watch some mr rogers and cheer up friend
People lack an objective understanding of how the used car market works, the margins, repairs, etc. I’ll block the community fanboy club now so that I don’t intrude with any perspective reality. What I am saying will be clearly seen in due time. I don’t like it, but this is reality.
While not the best news, most car models from before 2018 that are connected only have 3g modems (and no 2g/1g fallbacks to save money), 3G has essentially been off in North America for a few years so most of the connected cars from that era can not connect to anything (at least not without new modems/adapters).
Although this ofc says nothing of facts like Mercedes charging $50+ a day to use their diagnostics/repair software thats required for just about anything from 2010+ and has many functions locked to their tools that cost a few thousand each.MB diagnostics price list