The Expert Podcast

Introduction to Electric Vehicles Market Trends
  • Electric vehicles are gaining momentum in the market.
  • They're becoming increasingly attractive to new buyers.
New Electric Vehicles Discounts
  • Some new electric vehicles are seeing substantial discounts.
  • Discounts range from $1,000 to $15,000.
  • This article discusses discounts up to $6,000.
Reasons Behind New Vehicle Discounts
  • Dealerships are facing larger backlogs of electric cars.
  • To manage inventory, discounts are being offered.
Considerations for Potential Buyers
  • If you're in the market for a new vehicle, electric options might be worth considering.
Trends in Used Electric Vehicles
  • Used electric vehicles are also experiencing price drops.
  • One source describes prices as "plummeting."
Implications for Current Owners
  • Current owners may see lower resale values.
  • This trend benefits mass adoption but could be a downside for existing owners.
Opportunities for Buyers of Used EVs
  • For potential buyers, this translates into potential bargains.
  • Used EVs could be ideal as second cars or for commuting.
  • They may not be suited for long trips, but they offer other cost-effective uses.

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Electric vehicles are chasing the market in a way that might make them appealing for buyers on new vehicles. There are some electric vehicles that are being discounted many thousands of dollars — this article talks about $6,000.

We've seen some electric vehicles discounted $1 to $15,000, and we'll talk about that in another video. These discounts are because there's larger backlogs of these cars on dealers' lots, so if you're looking for a vehicle, it might be worth considering electric.

What about used? Well, used electric vehicles are also dropping — this article says the word plummeting, that sounds pretty severe — great for mass adoption but bad if you already bought one. So if you already have a used electric vehicle, your resale value might be lower than you think.

But if you're looking to buy one, there might be some deals on used EVs that might make it very appealing to have one as a second car, commuter car, maybe something you don't need to take on long trips.