The used electric vehicle (EV) market is collapsing across the country, and the Seattle area isn’t immune. The reason is simple: no one wants to drive EVs and the people who purchased them regret their decision. And yet Democrats are still pushing us into a future no one wants and one we’re not ready for.
According to an analysis by iSeeCars, which tracked more than 2 million used electric vehicles and gas-powered cars over a year to track price trends, a used EV in the Seattle area saw a price drop by nearly 30% — or almost $11,000. Nationwide, the number is around 35%. When compared to used car prices, it’s not even a competition. The used car dropped by only about $400 nationwide.
The used EV market is crashing for good reason. All you have to do is look at the data.
Why is the used EV market crashing in Seattle and around the country?
The used EV market is crashing because of basic economic principles that even an anti-capitalist activist could agree with. When you have a large supply and low demand, prices plummet.
After a surge of EV purchases in 2023, undoubtedly pushed along by people who either fell for the false promise of EVs or hoped to get a head start on demand (which would raise prices) as Democrats ban gas-powered car sales, there has been buyer’s remorse.
A McKinsey and Co. survey published notes that 46% of EV drivers in this country want to go back to gas cars. The report said they were “very” likely to switch back to a traditional car as their next purchase.
California Electric Company Announces It’s Turning Off Power for Thousands of Residents Amid Heat Wave and Raging Fires.
PG&E has explained that about 12,000 customers in eight different Northern California counties will be affected by this possible Public Safety Power Shutoff (PSPS) this week.
This potential PSPS is set to officially begin early this week on Tuesday morning.
So , how has those wind turbines and solar panels working out for you all ?