As electric vehicles (EVs) become more popular and mainstream, it's no surprise that some early adopters may be feeling a sense of buyer's remorse. A recent trend has emerged in which more and more people who previously purchased EVs are looking to sell them and switch back to traditional gasoline-powered cars.
One way to measure this trend is by looking at the number of low-mileage used EVs for sale on the market. A low-mileage vehicle is one that has been driven fewer miles than the average for its age. Typically, a low-mileage car is considered to have been driven less than 12,000 miles per year.
According to recent data, there has been a significant increase in the number of low-mileage used EVs for sale. In fact, some reports suggest that the number of used EVs for sale has increased by up to 50% in the past year alone. This is a strong indicator that more and more people who previously bought EVs are looking to sell them and switch back to traditional gasoline-powered cars.
So, why are people who previously purchased EVs looking to sell them and switch back to traditional cars? There are a few possible reasons for this trend.
First, there is the issue of range anxiety. Although the range of EVs has increased in recent years, it's still not as convenient as the range of traditional cars. People who previously bought EVs may have underestimated how much they rely on the ability to drive long distances without needing to stop and charge their vehicle. For some, the hassle of finding charging stations and waiting for their car to charge has become a major inconvenience.
Another factor is the cost of EVs. While the price of EVs has been dropping, they are still more expensive than traditional cars. Some early adopters may have been willing to pay a premium to be among the first to own an EV, but now that the novelty has worn off, they may be less willing to pay the extra cost.
There is also the issue of maintenance and repair costs. While EVs have fewer moving parts than traditional cars and are generally more reliable, they can still be expensive to repair when something goes wrong. Some people who previously owned EVs may have been surprised by the high cost of repairs and maintenance, and are now looking to switch back to a more familiar and affordable type of vehicle.
Finally, there is the issue of resale value. While EVs are still relatively new to the market, it's unclear how well they will hold their value over time. Some early adopters may be concerned that their EV will depreciate more quickly than a traditional car, and are therefore looking to sell it while it still has some value.
Despite this trend, it's important to note that EVs are still a promising technology with many benefits. They are more environmentally friendly than traditional cars, can be cheaper to operate in the long run, and are becoming increasingly convenient to use as charging infrastructure improves.
That being said, it's also important to recognize that EVs are not for everyone. They may not be the best fit for people who frequently travel long distances, have limited access to charging infrastructure, or are on a tight budget. It's important for potential EV buyers to do their research and carefully consider their individual needs before making a purchase.
In conclusion, the trend of people who previously bought EVs looking to sell them and switch back to traditional cars is a notable development in the automotive industry.
Don't believe us? Jump on Auto Trader or Car Gurus and search Lightnings, Wrangler 4xe's, Audi e-Trons, etc. It's plain and simple. Real-life ownership doesn't meet the hype in so many ways.
10 years from now, maybe. But 2023 will be the year the NON-Tesla market is flat, if not in decline.