Mach-E now second best selling EV SUV in the US

[ericNdfw]

Just go to Carvana or some other site and see what they will offer. My 2021 GTPE, 2 years old was $70k new. Carvana offered me $30k. 40k loss in 2 years is painful. Normal depreciation is 40% in 5 years. I'm at 60% in 2 years. They just aren't selling...

That's a gut punch but I think it has more to do with where you are getting the quote and the fact that you're in the most expensive model.

The days of Carvana and Carmax paying top dollar on trades are long gone. If, for example, you check the KBB estimate for your model, w/ 24k miles it is at about $40k for private party, and $37k for trade-in)

Also, remember that all BEVs (and many PHEVs) have an automatic $7500 depreciation baked in because of the IRS rebates that new ones can usually get. (Yes, I know that dropped to $3750 for MMEs but 2021 models still had it available and competing models still do too). That means your net depreciation (using KBB numbers) is more like 36-40% (private party/trade-in)

36% is still a fair bit for a 2 year old car, and to be sure, EVs are taking a hit due to Tesla's aggressive price cuts, but you also have to account for the fact that the GTPE is the top-spec model and those almost always take a harder depreciation hit because there are fewer buyers looking for them on the used market. Especially at high volume dealers like Carvana, Carmax, etc. Case in point: my 2021 Premium AWD+ER w/28k miles is getting a $29k trade offer from Carvana right now and $37k-$32k from KBB. (it was $56k new, before IRS rebate) That's about 24-34% depreciation for my lesser-spec'ed trim.

 

[DevSecOps]

That's a gut punch but I think it has more to do with where you are getting the quote and the fact that you're in the most expensive model.

The days of Carvana and Carmax paying top dollar on trades are long gone. If, for example, you check the KBB estimate for your model, w/ 24k miles it is at about $40k for private party, and $37k for trade-in)

Also, remember that all BEVs (and many PHEVs) have an automatic $7500 depreciation baked in because of the IRS rebates that new ones can usually get. (Yes, I know that dropped to $3750 for MMEs but 2021 models still had it available and competing models still do too). That means your net depreciation (using KBB numbers) is more like 36-40% (private party/trade-in)

36% is still a fair bit for a 2 year old car, and to be sure, EVs are taking a hit due to Tesla's aggressive price cuts, but you also have to account for the fact that the GTPE is the top-spec model and those almost always take a harder depreciation hit because there are fewer buyers looking for them on the used market. Especially at high volume dealers like Carvana, Carmax, etc. Case in point: my 2021 Premium AWD+ER w/28k miles is getting a $29k trade offer from Carvana right now and $37k-$32k from KBB. (it was $56k new, before IRS rebate) That's about 24-34% depreciation for my lesser-spec'ed trim.

The problem is that selling private party is going to be a long shot. If they are averaging 100 days on used lots right now who the heck has the time and effort to compete against that? Your only option with these vehicles is trade in or sell to a company like Carvana, Driveway, Carmax etc.

Also, not all of us qualify for the rebate. I don't and therefore it's a bigger hit for me.

 

[ericNdfw]

The problem is that selling private party is going to be a long shot. If they are averaging 100 days on used lots right now who the heck has the time and effort to compete against that? Your only option with these vehicles is trade in or sell to a company like Carvana, Driveway, Carmax etc.

Also, not all of us qualify for the rebate. I don't and therefore it's a bigger hit for me.

Totally get that argument. Have you tried getting quotes from local dealers? (not sure if you're actually selling or just making an observation about the resale number)

For 2021 models the only way we wouldn't qualify is if your IRS tax was < $7500 (there were no income or car price caps back then) or you had some kind of AMT related scenario that messed with it. The market values BEVs like ours as if they started $7500 cheaper than MSRP. It sucks for anyone that wasn't eligible but that is the way it is.

I think our resale values will settle out as Tesla hits whatever pricing floor they finally find - I don't think the investors are going to put up with too much more of the big cuts TBH. Especially if the CyberTruck doesn't start printing money for them. I'm not convinced it will be the massive hit the Tesla fans think it will be. ...but I could be wrong.

 

[DevSecOps]

For 2021 models the only way we wouldn't qualify is if your IRS tax was < $7500

This is what happens when you don't do your own taxes. I guess I got it then. I thought that the income requirement was back then as well. Im obviously mistaken.

I haven't tried getting local dealers to quote it. I'm not actively looking to sell it. I'm waiting on some other things to finalize before I make a decision.

 

[lwilliams0514]

Or, with the high likelihood of a UAW strike this year would you be better off with high inventory, or low inventory...

https://www.cnbc.com/2023/08/25/uaw-strike-vote-to-authorize.html

I think that is why they are increasing production...... In case there is a strike, they have a pipeline to get some of the popular units out before it happens so lots are over filled temporarily.

 

[superdave80]

The Mach-E doesn’t even make it into the top 20 EV’s sold in Europe in the first half of ‘23. This chart suggests they sold less than the 17,035 Kia EV6’s sold in 6 months (how much less I don’t know).
https://autovista24.autovistagroup.com/news/tesla-lead-europes-ev-market-first-half-2023/

Looking at this graph, I think we all have the same question in our head: What in the holy hell is a 'Ford Kuga', and who named it?

 

[Blue highway]

I think that is why they are increasing production...... In case there is a strike, they have a pipeline to get some of the popular units out before it happens so lots are over filled temporarily.

I'm sure demand isn't as high as they hoped, but having product in the pipeline is a concern they are addressing.

 

[Blue highway]

Looking at this graph, I think we all have the same question in our head: What in the holy hell is a 'Ford Kuga', and who named it?

a Kuga is an Escape.

I bet in a year or two they stop considering Plug in Hybrids as electric cars. The tide is turning on this fairly quickly.

 

[bdaughtry]

Has anyone ever seen a Mach E commercial? I owned a Chevrolet Volt and a Honda Clarity and never saw a commercial for either of them. Marketing is job one for most companies.

Ford has been running 2023 MME TV commercials in the NYC/Metro market for a couple of months now. I posted about it in August.

 

[bdaughtry]

Has anyone ever seen a Mach E commercial? I owned a Chevrolet Volt and a Honda Clarity and never saw a commercial for either of them. Marketing is job one for most companies.

https://abancommercials.com/ford/20...ee-it-drive-it-own-it-apos-commercial/220621/

 

[mkhuffman]

The problem is that selling private party is going to be a long shot. If they are averaging 100 days on used lots right now who the heck has the time and effort to compete against that? Your only option with these vehicles is trade in or sell to a company like Carvana, Driveway, Carmax etc.

Also, not all of us qualify for the rebate. I don't and therefore it's a bigger hit for me.

I have private sold all my old vehicles after I purchased the new one. And you are right - they sat in my driveway and on Cargurus for months. But eventually I sold all of them for significantly more than the trade in value. I think I will probably do the same thing when it is time to replace my MME.

On a side note, I have always used Cargurus because it is so much cheaper than Autotrader.

 

[ericNdfw]

I haven't tried getting local dealers to quote it. I'm not actively looking to sell it. I'm waiting on some other things to finalize before I make a decision.

I hear you. I also pull resale values occasionally just to see where I stand on it but I have no intention to sell. There's just no other EV on the market right now that is even tempting to me at anywhere near the price point. Now, if money were no object, I'd probably go test drive an Audi eTron GT and/or a Taycan and get one of those, but they are way too overpriced IMO.

 

[DevSecOps]

I hear you. I also pull resale values occasionally just to see where I stand on it but I have no intention to sell. There's just no other EV on the market right now that is even tempting to me at anywhere near the price point. Now, if money were no object, I'd probably go test drive an Audi eTron GT and/or a Taycan and get one of those, but they are way too overpriced IMO.

I looked at both. The range was what killed both for me. That's why I went with Rivian. More range and even better performance in a few categories, from a truck no less.

 

[SaintPaulMustangMach-E_GT]

Has anyone ever seen a Mach E commercial? I owned a Chevrolet Volt and a Honda Clarity and never saw a commercial for either of them. Marketing is job one for most companies.

Okay let's just think that through a little... Supply and demand.
When you can't meet demand why in the world would you try to increase demand?
Perhaps Ford would increase marketing if they thought it would matter in total sales.
But until they can supply more than the current demand, why market.
Also ads? Are you all way older than me?
They've done an excellent job doing social marketing.

P.S. I'm not a FORD corporation lover they have plenty of issues, customer service is my pet peev.

 

[azerik]

I'm still not convinced Ford knows how to sell this car (or BEVs in general). I do BEV shows all the time, talking to prospective buyers. No one, I mean no one asks me about 0-60 times.

Oddly 0-60 is one of the first things I check when shopping for an EV. Because who wants a 8 to 10 second 0-60 vehicle in this age?

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