Demand dropping / asking price dropping?

[Rhino]

I looked at the prices for used Mach E GT PE recently and for a 2022, they are now going for 65-70k on auto trader. Back when I bought mine (April), they were asking 90k for the same used. Is this already the decline of the Mach e overall value with so many other EVs coming out?

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[MachKet]

Market is in decline for cars in general and orders are not closed anymore

 

[generaltso]

The prices of used cars are dropping across the board.

 

[RickMachE]

So to answer your question directly, not really.

 

[Guy]

Interest rates are way up. When your mortgage goes up $800/month I guess that shiny new car is not so tempting anymore.

 

[Rhino]

The prices of used cars are dropping across the board.

You would think, but when I look up the Taycan you have to pay almost new price for a 2020 still.

 

[RickMachE]

Coupled with your car payment going up if you buy that new car, and the absence of Options rebates and lower rates on that.

 

[generaltso]

You would think, but when I look up the Taycan you have to pay almost new price for a 2020 still.

I don't think you can consider any Porsche pricing indicative of the market as a whole.

 

[gryphon]

My local dealer still holding out strong, adding $8k+ to their 22’s, which aren’t exactly flying off the lot.

 

[dbsb3233]

Used Car Prices Drop For Fifth Consecutive Month, According to Government Figures


https://www.thedrive.com/news/used-...ecutive-month-according-to-government-figures

 

[4sallypat]

Depends on the demand.
Lightnings are still going over MSRP - both new and used - at least here in So Calif.

 

[Logal727]

Interest rates are way up. When your mortgage goes up $800/month I guess that shiny new car is not so tempting anymore.

If you’ve got a variable APR, you prob shouldn’t be buying a new car

 

[MMENJ]

If you’ve got a variable APR, you prob shouldn’t be buying a new car

Exactly, anyone who had an existing mortgage isn’t paying any more unless it’s an adjustable, which is terrible in this climate.

 

[Phil Martin]

I looked at the prices for used Mach E GT PE recently and for a 2022, they are now going for 65-70k on auto trader. Back when I bought mine (April), they were asking 90k for the same used. Is this already the decline of the Mach e overall value with so many other EVs coming out?

Yes. The federal reserve will keep financial conditions tight until unemployment raises to about 4.5%.
This means that items/things that were in high demand will fall like a rock. Manufacturers will have to adjust prices down to compensate for the fall in demand. The Fed will win, they have to tools to make this happen and it's already started. This isn't some two month thingy and all of a sudden demand shots back up, that's the last thing in the world the Fed wants.

In addition and this is my opinion the EV mania is coming to an end. Morgan Stanley put out a note recently that also stated a similar expectation.
I also believe the novelty of owning an electric car is waining, and couple that with the pathetic state of DC fast charging, demand expectations will only fall.

 

[Ride_the_lightning]

I sure hope used prices drop to below the new prices. It’s been ridiculous and there was no way that could last forever.

As for the Taycan, Porsche has always been unique and those buyers are not very price sensitive. New ones always are custom orders…it’s not like dealers ever had 30 Porsches (EVs or not) sitting on the lot. Not surprising that used ones stay valuable, as the cost of “skipping the line” for those that are impatient.

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