Can you afford a used electric car?
That is expanding the number of people who can afford to buy such models. Sales of used electric vehicles rose 40 percent in July from a year earlier, according to Cox Automotive, a research firm.
How do we adjust EV purchase prices?
We adjust EV purchase prices to account for the Clean Vehicle Credit implemented in the IRA, using official U.S. government forecast expenditures to estimate the number of EVs that will be eligible through the lifetime of the regulation.
Are used electric vehicles siphoning buyers away from new cars?
Affordable electric vehicles may even account for slower growth in new electric vehicles, said Tom Narayan, an analyst at RBC Capital Markets who follows the auto industry. Data compiled by his team suggests used electric vehicles are siphoning buyers away from new cars.
Are battery-powered cars a good deal?
But a growing number of shoppers are discovering that for used cars, often the opposite is true. Used battery-powered vehicles often sell for less than comparable cars with internal combustion engines, making them a good deal even before calculating savings in maintenance costs and fuel.
Do corporate average fuel economy standards affect EV adoption?
We assume the currently enacted Corporate Average Fuel Economy standards, which apply to model years –26, result in technological improvements and increased EV adoption because of declining cost and favorable fuel economy credits. This change occurs in parallel with continued increases in fuel economy for conventional gasoline-powered vehicles.
How many miles can an electric car go on a charge?
A few years ago, most electric vehicles couldn’t travel more than 200 miles on a charge. Now cars that can go 300 miles are common, and within a few years 400 miles will be the norm. Prices of new electric models have also come down, with many selling for less than $40,000. That automatically pushes down prices of pre-owned cars.
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Used battery-powered vehicles often sell for less than comparable cars with internal combustion engines, making them a good deal even before calculating savings in maintenance costs and fuel
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Used E.V. Sales Take Off as Prices Plummet
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