Global S&T Development Trend Analysis Platform of Resources and Environment
The $6,000 Electric Vehicle: The Power of the Used Car Market to Bring Electric Vehicles to Everyone | |
admin | |
2019-08-12 | |
发布年 | 2019 |
语种 | 英语 |
国家 | 美国 |
领域 | 气候变化 ; 资源环境 |
正文(英文) | Transportation is the fastest growing source of carbon dioxide emissions and fossil fuel demand worldwide. That makes zero-emission vehicles a prerequisite for a sustainable future. But while our glittering electric future is often defined by the sci-fi innovations of companies like Tesla and Rivian, the reality is that 70% of all car sales in the United States – the second-largest market for electric vehicles (EVs) – are for used vehicles. New cars are exciting and tend to occupy headlines, but used cars are what actually occupy the streets. Nevertheless, manufacturers, policymakers and the general public have given almost no attention to used EVs. To ensure a clean vehicle transition for everyone, regulators can and should adapt established techniques for promoting new EVs to the used EV market. A Nascent Secondary EV Market Ramps UpMost cars sold in the U.S. today are not only pre-owned—they're also driven longer. The typical U.S. driver possesses a car more than 11 years old, with the average age of a car increasing 2.5 years between 2000 and 2017. For the moment, sales trends for electric cars run opposite to those of conventional cars: 66% of electric cars are bought new and only 34% used, according to a 2017 CarMax survey. This is not surprising for a new technology without a well-developed secondary market. Electric cars also buck another conventional procurement trend: 80% of new EVs are leased, while only 30% of conventional vehicles are leased. People tend to lease EVs to protect themselves from the acute depreciation and perceived obsolescence these cars often face as a result of the rapid pace of improvements for battery range, powertrain performance and other technologies. As these electric cars come off leases, they typically enter the used market. A dedicated parking lot for electric vehicles in Oslo, Norway. Flickr/mariordo59 As a result of these factors, the supply of used electric cars sometimes dramatically outstrips the demand to buy them. This imbalance has flooded the used EV market with older models with sub-100-mile ranges, such as the early-generation Nissan Leaf and Fiat 500e. These EVs were often originally priced above $30,000, but now start around $6,000 for a model that is typically only three or four years old with under 40,000 miles. Secondary EVs tend to depreciate sharply in value since they appeal to a limited clientele, given their short ranges and unproven longevity. However, as we continue to see improvements to battery range and performance, the market for new EVs should expand swiftly, pulling along the secondary market at a similar, yet slightly delayed, pace. As new EVs become better, so will the used ones. In turn, used EVs will likely be exposed to less price depreciation. This is already being seen with high-end EVs, which have above-average battery ranges and performance specs. Tesla's Model S, for example, not only holds its value three times better than the average electric car, but also two times better than the typical gas-powered car. As future mass-production EVs reach the range and power of current high-end models, the used EV market will ramp up. The Power of the Secondary MarketAs used electric car options expand, the growing secondary market for EVs could be instrumental in ensuring the air quality benefits of EVs can be experienced by more people. The impacts of trading an old gas car for an EV may be particularly impressive. One recent study found that 25% of the oldest and least maintained cars on the road account for roughly 90% of all vehicle-related pollutants. The used market shows great potential to knock down steep purchasing prices for EVs, which still tend to run higher than their conventional drivetrain counterparts, at least upfront. While future EVs in the used market may not provide the staggering depreciation they do now, they will still present a cheaper option than buying new. How to Expand AccessThe second-hand market will likely be the best opportunity to bring EVs to a large client base, but only if people are willing and able to buy used EVs. Policymakers have a critical role to play in supporting and growing this market. Here are three actions policymakers currently use to increase new EV access, which could be adapted to boost the used EV market too:
The newest, flashiest EVs will undoubtably capture the attention of the public and of policymakers. Nevertheless, we must not forget the role of the used vehicle market in supporting the EV transition for everyone. |
URL | 查看原文 |
来源平台 | World Resources Institute |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/220034 |
专题 | 资源环境科学 气候变化 |
推荐引用方式 GB/T 7714 | admin. The $6,000 Electric Vehicle: The Power of the Used Car Market to Bring Electric Vehicles to Everyone. 2019. |
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