I was looking at used Evs and I keep seeing 1 or 2 yr old VW id4s with very little miles for like $25-30k. Is there a reason why they lose their value so quickly? I even saw a 2022 Pro S with 2k miles for $28k. Someone basically lost $20k driving it off the lot 😓
Used market is back to normal, Tesla was eligible for tax credits when basically no one else was and Tesla also did large price cuts to the point that it just made more sense to go Tesla.
I traded in my EV6 Light back in May of this year right before values took a huge nose dive and the dealership actually lose money on it, they had it for 3 months and ended up lower the price to slightly under what they paid me for it. They may have made money on the financing I guess but usually a used car does not sell at or below what they paid for it.
Some people still owe $50k+ on their EV6 and trade value are at like $30k.