Dear MEL Topic Readers,
The used electric vehicle market could tempt EV-curious drivers
It was late 2017 when Tesla started selling the Model 3 at $44,000 in
the US market. In 2023, a little over one million new EVs were sold in the US. However,
EVs are still more expensive than their gasoline-powered competitive models. For
example, while the starting price of the best-selling sedan, the Toyota Camry,
is $27,600, the best-selling EV, the Tesla Model Y, starts at over $43,000. Now,
as Hertz, a rental car giant, is selling 20,000 EVs from their fleet, the prices
of secondary EVs are going down significantly to become competitive with gasoline-powered
new vehicles. Since electricity is more economical than gas to drive the same
distance, more people may be interested in trying their first EV even though
there are concerns about higher repair costs, uncertain battery life, and limited
charging access. It is certainly the time to watch out for the secondary market
for EVs.
Read the article and learn about how used EVs might drive the US EV
market this year.
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