this post was submitted on 07 Dec 2023
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Electric Vehicles
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This article is more about how insane the EV market was during covid than anything else.
They're discussing how a Tesla ordered in 2022 has had its price cut by 30% in the last year. Most people here are probably aware of Tesla's massive discounts since their covid peak.
EV depreciation is also a weird topic on the whole. I bought an EV in the last year and received a 7500 tax credit. To make the numbers round let's say I bought a 50k ev. That's the price that gets reported. If I were to sell that car today I'd get around 45k for it. That's a 10% depreciation in the first year
However, with the tax credit I effectively paid 42,500. If I sold the car today I would make 2,500. The sales records don't include the tax credit in either of those transactions.
Tesla cutting their prices massively did hurt companies or people who paid pandemic prices. That said, arguing EVs should be more expensive is ridiculous. They should be as cheap and as plentiful as possible.