The Fall of Electric Car Prices

The Fall of Electric Car Prices

It’s been a while since I did a list video and to break up some of the normal content I thought it was a good time to do this because we were talking about future projects like adding an EV to our long-term Fleet to experience that and

It it got me started like many things on the internet of going down a rabbit hole of searches Jack sent me a BMW m60i and we couldn’t believe how much money it lost in just one year of being on the market so I’m like let’s take a

Look at some of the other electric cars because we know the electric car market is hurting right now uh a lot of first generation products and the interest rates are really high too so unless there’s a lot of incentives people have just kind of gone back to hybrids and

Regular cars so I made a list of a lot of the common electric cars that are available right now so we can compare and contrast what they cost new or what what the pricing is new versus used and then follow up in a year and see what’s

Going on and this may be a really good time to buy a used uh electric car depending on what you’re looking for and I did all my searches on autotest we use them a lot for all our searches so you can do your own and compare this but I’m

Going to start with our worst car of 2023 which was the Toyota bz 4X this is a vehicle the low trim level starts at $43,000 and has a range of 252 miles uh a used one one-year-old not even one-year-old was averaging around $33,000 with 2,000 mil on it so you’re

Saving about 10 grand after less than a year the next one is the BMW I4 M50 uh all-wheel drive version or dual motor that’s a $72,000 vehicle brand new on the used market after a year you can find them for around $54,000 with 5,000 miles on them so

Again that’s roughly a $15,000 savings and you could probably even get deeper into that the next one is the bmwx which I talked about at at the start of this the m60i starts at $111,000 with 296 m a range and we were finding used ones one-year-old 2023 is certified for

$83,000 with around 70 with around 7,000 miles on it so you’re looking at almost $30,000 off this thing after one year which is absolutely mindblowing uh and keep in mind I’m not picking the lowest price here this is like somewhere in the middle of use searches and I’m not

Talking about like salvage title accents there’s none of those these are clean cars on paper so the next one is the Maki premium with the extended range battery that’s a $50,000 vehicle with around 310 M range and I looked back at like 2021s because that’s where the

Battery recall was sitting and those are running for about $28,000 uh with about 36,000 miles on them so again like if you’re a big Machi fan you know you know now’s a really good time to probably try to find one used and at least the battery is going

To get replaced on it too so that might be a pro if you’re looking for that the next one is the Genesis gv60 Advanced with all-wheel drive and this is a press car we just had again which I didn’t even release a video on it because they advertise a 250 mile range for

$62,000 uh and we I barely got 200 miles range out of it in the winter so I’m just like I’m not even doing a video so 62 Grand one-year-old example is about $50,000 with around 2,000 M on it and this car hasn’t been out long enough and

You know you’re saving roughly 12,000 I can’t imagine what it’s going to be in a couple years so that may not be the best deal right now but something to look at and the the kind of the sister car to that is the Hyundai ionic 5cl all-wheel

Drive that is about 260 M range uh that’s a $53,000 ask the used market around 2022 is are about $30,000 with about 15,000 mi that is a very strong uh price if you’re looking for one of those uh and typically they their warranties are pretty good too if

They fix them so that that might actually be a good deal the next one is the Kia Soul E I want to go back to one of their first or kind of second gen products um and this kind of shows you where the EV landscape was back then so

2019 the soul only had about 100 m of range on it and it was a $36,000 car and of course it’s another one of those where they say oh look we have an EV but they didn’t sell it everywhere you can only buy it in certain States so after about five six

Years you can get one for $177,000 with around 24 M 24,000 miles on it again that’s a car with about 100 Mil range so it’s essentially like a golf cart for most people but again it’ll be interesting once they get closer to the $10,000 price point in a couple years

The next one is the Lucid air touring and this is a little bit unfair because there’s not a lot on the used market so the price are relatively high this is a vehicle that’s advertised with 411 M of range about $90,000 new a one-year-old example are going for about $83,000 on

Average uh with about 8,700 miles so you’re not saving a lot of money on the used Market on those yet the next one is a very interesting one and this is for Tesla Vans the model 3 extended with auto ADV enhanced autopilot which isn’t the full self-driving package um that’s a$ 53,000

Vehicle uh with about 341 miles range now the interesting part about that guy is Herz just dumped their entire electric car fleets that they had they flooded the market with it and what it’s done is it’s absolutely obliterated the used Market values of model 3s and I’m

Finding them like all over the place for about $28,000 or less with about 29,000 miles on it on average and I’m sure um it’s going to you can probably find one lower so if you’re really looking for a cheap model 3 on the used Market again I don’t

Know how the warranty works on that now is the time to really look at those because you could probably get a great deal on one uh the next one is the Nissan Arya evolve plus all-wheel drive that’s a 272 mile range vehicle for about 55 grand a one-year-old example is

Going for on average about 39,000 with about 2,000 miles on it so you’re saving you know again you’re looking at over a $10,000 savings on that if you’re really sold on an Arya for whatever reason um that hasn’t taken a big of his hit as I thought but I think that’s another one

To look at next year uh the next one is an oddball the the Mini Cooper EV I wanted to see where that was at but you can’t even find them that was a $36,000 EV with 114 m range on the used Market a couple years old they’re about $21,000

Now uh with about 40,000 mil so that’s definitely not a good deal at all the next one is the pstar 2 the dual motor long range version which started at $51,000 for about 276 miles a range the used Market is pretty crazy on that one uh that’s 40,000 or less for a

One-year-old version with about 21,000 miles on it so if you’re you know this is again Volvo was funding them which they just pulled funding so now it’s going to be funded by G or gie so I I’m not quite sure what’s going to happen to

P Star as a brand but again if you if you really like the pstar 2 now it might be a good time looking at it used uh the next one is the VW id4 Pro all-wheel drive um and this is a vehicle we also did not release videos on we made them

And didn’t release them because we hated the car so much um this is a $49,000 car with about 255 M range a 2021 model year so 2 years old are going for $30,000 for about 12,000 miles on it and you can find it for a little bit

More a little bit less depending on which trim you get but that’s again you know you’re roughly looking at $20,000 off off for a couple year old model um with virtually no miles on it that also might be a very good deal if you’re looking for a used electric car

The last one was the Porsche tyon uh 4S which we knew had ridiculously bad resale value along with the uh Audi rron same problem because they’re essentially the same car um a tyon 4S with no options brand new um is roughly $113,000 with A2 6 mile range which is

Pretty accurate that the range is what it says and maybe a little little bit more uh but a 2-year-old version of that car is worth about $65,000 with again if you’re looking at like an Audi rron or RS rron or uh a tyon you might be able to find one of

Those for an absolute steal and I’m sure it’s one of those you can talk down they do not hold their value like the 91s and the 718s so again these are interesting price points that I saw um and I think the the the takeaway from it is I think

Like anx after like two or three years once it gets done like a $50,000 price point I think would be an incredible bu right now if you jump on a a model 3 um if you’re able to find one in like the mid 20,000 range I think you’d be really

Happy with that car um depending depending on what spec you get so there are some some really good values and after this year’s over we’re going to go back and revisit some of these cars and see if you could really steal some of them I I just have the feeling that if

You’re having trouble selling the new versions and you’re having to discount them can you imagine what the used car prices are going to be um so be very careful if you’re buying a new electric car right now that you’re getting it heavily incentivized if you’re financing it or just lease it just absolutely

Lease it so you don’t lose your ass as much but that’s it for this video we’ll continue our normal routine

A brief look at the downward trend of used electric car prices and how it plays into the future of EV sales. It becomes a hard sell to push certain ecological agendas when these vehicles become lease-only products designed to be flushed away in favor of short-term ownership. We compare prices on the Toyota BZ4X, BMW i4, BMW iX, Mustang Mach E, GV60, Ioniq 5, Lucid Air, Tesla Model Y, Nissan Ariya, Polestar 2, VW ID4, and Porsche Taycan.

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00:00 Intro
1:15 Toyota BZ4X
1:40 BMW i4
2:00 BMW iX
2:40 Ford Mustang Mach-E
3:12 Genesis GV60
3:45 Ioniq 5
4:18 Kia Soul EV
4:55 Lucid Air
5:22 Tesla Model 3/Y
6:11 Nissan Ariya
6:38 Mini Cooper EV
6:55 Polestar 2
7:33 VW ID4
8:25 Porsche Taycan and Audi E Tron