{"id":1486048,"date":"2024-08-26T17:45:00","date_gmt":"2024-08-26T21:45:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1486048"},"modified":"2024-08-26T17:45:00","modified_gmt":"2024-08-26T21:45:00","slug":"teslas-price-cuts-put-a-charge-into-used-ev-sales","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/teslas-price-cuts-put-a-charge-into-used-ev-sales\/1486048\/","title":{"rendered":"Tesla’s Price Cuts Put A Charge Into Used EV Sales"},"content":{"rendered":"

Tesla’s Price Cuts Put A Charge Into Used EV Sales<\/span><\/p>\n

\n

The used EV market is finally starting to catch a bid, thanks to Tesla’s trendsetting in lowering prices during the last two years of major ongoing EV competition.<\/p>\n

The change in the market has been evidence at\u00a0CarMax Inc.\u2019s superstore in Fremont, California,\u00a0according to a new Bloomberg report<\/a>.\u00a0<\/p>\n

General manager\u00a0Henry Melendez told Bloomberg about the results of the falling prices:\u00a0\u201cWe\u2019ve seen a really good amount of interest. They\u2019ve always wanted to get into an electric vehicle, but it just wasn\u2019t quite as affordable.\u201d<\/p>\n

<\/a><\/p>\n

Bloomberg writes<\/a> that a growing trend across the U.S., including in Tesla’s hometown of Fremont, shows used EV sales jumping 70% in the year’s first half, according to Cox Automotive.<\/p>\n

In June, iSeeCars.com reported that the average price of a used EV dropped below $30,000, making them cheaper than typical gas-powered cars.<\/p>\n

The GM of\u00a0Axis Motorcars in Jersey City, New Jersey told Bloomberg:\u00a0\u201cTesla is driving the market by lowering the prices.\u00a0<\/strong>Used EVs are sold more quickly than gas cars, almost in a week.\u201d<\/p>\n

<\/a><\/p>\n

Increased supply is boosting demand for used EVs, with inventory now four times higher than in 2021, according to Recurrent. And Edmunds notes that, overall, used EVs take longer to sell than gas-powered cars.<\/p>\n

However, for models priced between $20,000 and $30,000, used EVs sell faster\u2014within 30 to 36 days compared to 39 days for gas cars, the report<\/a> says.\u00a0<\/p>\n

Government incentives are also helping. The Inflation Reduction Act offers $4,000 tax credits for used EVs costing $25,000 or less, making them more affordable. Jessica Caldwell from Edmunds adds that Tesla’s limited updates to its models, like the Model 3 and Model Y, make used versions appealing since they look similar to new ones.<\/p>\n

Those incentives are, of course, up for discussion come November’s election.\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nMon, 08\/26\/2024 – 13:45<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/teslas-price-cuts-put-charge-used-ev-sales<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Tesla’s Price Cuts Put A Charge Into Used EV Sales The used EV market is finally starting to catch a bid, thanks to Tesla’s trendsetting…<\/p>\n","protected":false},"author":0,"featured_media":1486049,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1486048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6eAw","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2024\/08\/tsla208241-fGcDoX.jpeg","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1486048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1486048"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1486048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1486049"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1486048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1486048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1486048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}