10 Nov 2023, 13:25
Benjamin Wehrmann

Market for used EVs growing fast in Germany – motorist club

Clean Energy Wire

The market for used electric vehicles (EVs) is growing fast in Germany, the country's most important motorist club, ADAC, has found. Second-hand EVs are becoming “a true alternative” for buyers looking for a cheaper option than a new vehicle. Prices have “noticeably declined” thanks to a rise in the number of  second-hand EVs for sale, ADAC said. Cars from VW, Tesla or Hyundai saw prices drop between 13 and 22 percent in the past months. Thanks to low operational costs, which are partly due to tax rebates, used EVs could encourage drivers to switch to electric driving. ADAC advised potential buyers to carry out a battery check to verify the car’s core component still is performing well.
The motorist club said that new e-car sales in Germany stabilised in October, after seeing a drop in September due to the end of certain subsidies for commercial buyers. About 37,000 new EVs were registered in October, 5,000 more than in the previous month. However, October's figures were dwarfed by August's 87,000 new registrations.

The second-hand car market is regarded as hugely important for increasing the adoption of e-cars, as most private cars are bought there. The fast development in EV technology in the past years has meant that older models quickly became unattractive due to lower ranges and other outdated stats. However, given ongoing progress in electric mobility, analysts said that, in the long term, the residual values of e-cars will be even more stable than those of comparable combustion engines.

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