Used EV Wave Incoming. Anyone Else Watching This?

[ScooterAsheville]

>> So, where did the "Slate EV Pickup Truck" get moved to?

Probably the same place the $20,000 Slate got moved to.

 

[AZFox]

Chris Barman:

The way that we've been thinking about it is, roughly 55 million vehicles are transacted every year, and about 15 are new, 40 of those are used. Our price point is targeted to be below the price point of the average used vehicle. So we're compared most frequently to new vehicles. We think a large number of our buyers are going to be used vehicle buyers, and that's a large pool that's out there.​

source

 

[AZFox]

This video from last week covered the topic with emphasis on Teslas.

Almost 1/2 million EVs will come off lease this year according to this YouTuber.

If he's correct, the Slate will have some hefty used-EV competition.

Sell Your Tesla Before May 2026 or Lose $9,000 (500K EVs Coming)

 

[danielt1263]

Turned in my leased ID.4 two years ago... A used BEV towing a small utility trailer occasionally is a solid option IMO

I see ID.4 EVs (2022-23 model years) on CarMax for about the price of a Slate... They are pretty much off the 5 year warranty of course...

If I needed something right now, I would probably go that route. My expectation though is that I can buy the Slate for the same price and it will last twice as long, so cost of ownership will be less in the long run.

 

[jmcarter]

I see ID.4 EVs (2022-23 model years) on CarMax for about the price of a Slate... They are pretty much off the 5 year warranty of course...

If I needed something right now, I would probably go that route. My expectation though is that I can buy the Slate for the same price and it will last twice as long, so cost of ownership will be less in the long run.

As one of the ID.4 early adopters in 2021 I’d encourage you to investigate ownership experience in their forum (https://www.vwidtalk.com/). VW has already slowed production at their Chattanooga plant and they’ve already cut back the ID Buzz as well.

 

[ScooterAsheville]

So many unknowns. And all of us making up stories about how the future is going to unfold.

After 70 years, I know one thing about the future. It's not going to unfold the way you or I predict. It's stubborn that way.

 

[KevinRS]

EV sales surged as the EV incentives were expiring, and once they did they slumped. Yes we are coming up on a wave of leases expiring, but that also means a wave of those drivers needing something to drive. If only around 10% will go back to ICE, the other 90% will either buy out their leases, buy or lease a new EV, or buy a used EV.
That combined with the mix of cuts and new models scheduled for release makes it really hard to predict where the balance of the market will end up. There could be a glut, or there could be a shortage.
A family member who it turns out bought an EV Denali last year suggested that F150 Lightings being discontinued would be dropping in prices at the dealers, to Slate ranges: I looked them up, and the cheapest in 750 miles is over 60k. Yes they are stopping production, but there are still people buying.

 

[beatle]

With the residuals being higher in almost all cases, you'd be pretty foolish to buy out your lease. When mine is up in June of 2027, I'll be walking away from it. There will be some churn as those go to auction and are put back in, but the overall prices will be depressed. Many of those people bought/leased new based on the federal incentive, and budgets generally aren't getting any bigger these days. If dealers want to sell, they'll have to lower the prices.

 

[cadblu]

There are NO small EV TRUCKS coming off lease. Those that might be interested were not primarily interested that Slate is a small EV truck. Mostly likely they just want a cheap EV.

Affirmative. And it’s going to remain that way as long as Slate maintains its position not to offer leases on its truck.

Predictably, if demand for Slates as fleet vehicles takes off, they are likely going to reverse their decision.

 

[KevinRS]

With the residuals being higher in almost all cases, you'd be pretty foolish to buy out your lease. When mine is up in June of 2027, I'll be walking away from it. There will be some churn as those go to auction and are put back in, but the overall prices will be depressed. Many of those people bought/leased new based on the federal incentive, and budgets generally aren't getting any bigger these days. If dealers want to sell, they'll have to lower the prices.

Some people buy out leases even if it might not make much sense. If the vehicle is working great for them, and still in near new condition, that's a push towards keeping it. If there is going to be a glut, dealers and financers might work out some other deals. Maybe they offer to close out the lease and immediately sell the vehicle to the driver at a price that is lower than the buy out.
And again, everyone coming to the end of their lease and not buying it out is going to need to drive something, and with incentives gone, prices rising, and multiple vehicle lines cut, used EVs may be where they have to turn.