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138

...even as new sales are declining. That means there's a healthy supply of used cars that people can buy meaning someone is getting rid of one. There's an untapped market of buyers that want one for whatever reason, but won't buy new, can't afford new, have some other reason, etc.

However, it also means that, while current owners may be replacing the ones they have, fewer new car sales are being made. So current owners are cycling through these, and used owners buy them. There's a very limited market for them, and if current owners stop buying them or first-time buyers quit buying them, then used owners will eventually have little or nothing to buy and the cycle will just slow itself to almost nothing.

There may always be a demand for them from both new and used buyers, but it could just be a closed loop where no new input is ever made.

...even as new sales are declining. That means there's a healthy supply of used cars that people can buy meaning someone is getting rid of one. There's an untapped market of buyers that want one for whatever reason, but won't buy new, can't afford new, have some other reason, etc. However, it also means that, while current owners may be replacing the ones they have, fewer new car sales are being made. So current owners are cycling through these, and used owners buy them. There's a very limited market for them, and if current owners stop buying them or first-time buyers quit buying them, then used owners will eventually have little or nothing to buy and the cycle will just slow itself to almost nothing. There may always be a demand for them from both new and used buyers, but it could just be a closed loop where no new input is ever made.
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[–] • 4 pts

just relax and watch how quick the "used car bonanza" dries up when the lovely used car needs any kind of repair

things get sour when any kind of item cost as much as the used car

not to mention that you will need to poy to dispose of the battery

[–] • 4 pts (edited )

I assume it's only time before an EV owner gets burnt on one - something like a battery pack fail that's not under warranty and suddenly the used car you paid $25,000 for last year needs $20,000 in repair. My current vehicle is 19 years old and gets (on average) maybe $5-600 a year in maintenance. Is an EV going to last 19 years? Probably not.

[–] • 1 pt

something like a battery pack fail that's not under warranty

This is a great opportunity for arson and insurance fraud. Look for it to be on the rise in the coming years.

[–] • 0 pt

So invest in large water tanks big enough to accommodate the cars and sell them to fire departments?