USED ELECTRIC CAR PRICES (2022) - IT'S ALL HOPELESS

EV Channels Review

The used electric vehicle market in 2022 is described as 'crackers' and 'off the charts bonkers' due to unprecedented price increases. The video highlights a significant surge in prices for nearly all used EVs compared to previous years, with some models seeing a 50% increase in just 18 months. This is attributed to high demand driven by long lead times for new EVs (6-18 months) and a low supply of used vehicles. The reviewer finds very few used EVs to be of decent value, with even older, lower-range models like the Renault Zoe and Nissan Leaf commanding high prices, often with additional battery lease costs. While the Skoda Citigo is identified as a rare exception offering reasonable value, most other options, including the BMW i3, VW e-Up, Kia Soul, and MG ZS, are deemed overpriced. The Tesla Model 3 and Kia Niro are noted for holding their value exceptionally well, almost retaining their original purchase price. The overall outlook is bleak for used EV buyers in the short to medium term, with stabilization not expected for at least two to three years.