“Reselling a barely-owned car works differently for different cars. “Anecdotally, we’ve heard of many owners who sold pretty new cars to dealers and made back more than their purchase price, and the numbers show this makes sense,” Recurrent said. Citing what it called “the new normal, inflated prices are here to stay,” Recurrent said that the used EV sales trend was skewed heavily toward the most recent model years available. On average, it said, a 2021 Mustang Mach E was selling for 60% more than it was last year.
The Seattle startup found that used EVs had climbed 25% in price since March 2021. Recurrent, which tracks the used EV market and provides car shoppers with independent reports on EV performance and battery life, noted in its most recent market evaluation that 2021 used EVs “make up a surprising 17.5% of inventory.” Or, as Gribust put it in his video, after expressing regret about giving up the Tesla, “I have a simple rule: If somebody places profit in your hand, all you have to do is close that hand and walk away.”
(Ann-Sophie Fjello-Jensen / Associated Press) When prices change significantly for scarce goods, some buyers realize that the item has a greater value to others than it does to them, and they will sell to the people willing to pay more than they would, and profit from it.” “We’ve seen this in all kinds of markets.
“When supply and demand are not in alignment, you get these opportunities where clever people can take advantage,” Harris said. From there, it was taking advantage of simple economics.”įormer Securities and Exchange Commission Chief Economist Larry Harris teaches that exact lesson to students at USC’s Marshall School of Business. The delivery times were nine months to a year, and that would obviously signal high demand, and therefore, low supply. “I was about to order a Model X and the Cyber Truck. Business Meet overlanding, the love child of off-roading and #vanlifeĮager to escape claustrophobic pandemic life and take advantage of newly remote jobs, increasing numbers of Americans are taking to remote places in rugged vehicles that are also homes.
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