Why are the prices of used electric cars rising?

Sales of used passenger cars and SUVs fell 8.6% in September to 153,927 units, representing an eight-month negative. By contrast, registrations of electrified vehicles (100% electric + plug-in hybrids) of all types (cars, two-wheelers, commercial and industrial vehicles) rose by 12.6% in September,
up to 9,164 units, according to data from the Business Association for the Development and Promotion of Electric Mobility (Aedive) and the National Association of Vehicle Sellers (Ganvam). This year they have collected a total of 71,776 units so far, which is 28.2% more.

Although pure electric cars still represent only a small percentage of registrations and
Spanish car parkthe trend is clear, and the wider range of zero-emission vehicles and current and future restrictions on combustion mobility are gradually tipping the balance.

Among the problems of the electric car, the high selling price stands out, which means that:
many potential buyers Set your sights on the second-hand market. But the news is not good, as the average bid price of the used electric car in September was 39,001 euros, 45.8% more than a year ago.

According to Ganvam, it is a time of high demand and low supply. Specifically, inventory has declined by 37% over the past year and demand, although it has declined due to inflation and the loss of household purchasing power, continues to rise. In this way, according to the latest edition of the
report Electricar VO, sales of used electric vehicles increased 25.8% through September, with a total of 8,673 units sold; albeit a smaller increase than until June, a period in which sales grew by 44% compared to the first half of 2021.

According to age groups, electric models less than a year old are the ones that registered the highest sales volume in the first nine months of the year, accounting for 41.9% of the total. Relatively speaking, however, it was those between 1 and 3 years that grew by more than 43.3% and now represent a third of the market.

The data from the Electricar VO report shows that the difference in the average bid price of
battery powered vehicles it is especially important between autonomous communities. In the Canary Islands, the region with the highest price offer in Spain, it rises to 43,591 euros, followed by the Basque Country, whose price also exceeds 43,000 euros (43,246). At the other end of the scale is Navarra, the cheapest municipality, where the average price of a second-hand electric vehicle is halved to 22,533 euros, according to coche.net.

An analysis by vehicle type shows that registrations of new 100% electric passenger cars closed last month with an increase of 13.6% compared to September last year, with a total of 3,323 units. So far this year, these models
accumulate an increase of 43.7%reaching 21,625 units.

Electric mopeds, for their part, registered a 46.6% drop to 236 units in the past month; although they remain stable so far this year, at 3,775 units. In your case,
motorcycle registrations zero emissions, which have promoted electric mobility through shared vehicle initiatives, increased by 63.1% in September, to a total of 892; while so far this year they have an increase of 71.9%, with 7,943 units.

Electric vans, increasingly common in last-mile deliveries, grew 31.9%, reaching 2,537 registered units through September. During the past month,
turnover increased by 134.4%with a total of 382 registered units.

For his part,
plug-in hybrid vehicles recorded an increase of 5.9% in the past month to 4,190 units, 99% of which are passenger cars.

Source: La Verdad

Ida

I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.