EV Depreciation: Luxury EVs Hit Hard

Electric vehicles (EVs) are experiencing significant depreciation, with some models losing value at an alarming rate. Previously popular cars are now available at incredibly low prices, making them an irresistible option for buyers. Luxury EVs, in particular, are facing the brunt of this depreciation trend. One brand that exemplifies this is Lucid.

The Lucid Example

Lucid Motors serves as a prime example of the drastic depreciation luxury EVs are facing. The value of their vehicles has plummeted, making them an attractive option for buyers looking for a bargain.

In an article by Lawrence Hodge, it is highlighted that the depreciation of electric vehicles has been so severe that low-mileage used EVs are now available at incredibly affordable prices. This trend has hit luxury EVs the hardest, with Lucid being a prominent example.

If you’re in the market for an EV, now is the perfect time to consider purchasing a used luxury model. The depreciation rates have made them an excellent value for money proposition.

Consider Used EVs

Instead of buying a brand new EV, it is advisable to explore the used market. The depreciation rates have made it possible to find luxury EVs at prices that were previously unimaginable. Don’t miss out on the opportunity to own a high-end EV at a fraction of its original cost.

For more information on the depreciation of EVs and the availability of affordable luxury models, read the full article here.

Source: jalopnik.com