Its looking even worse (Or better for a buyer) for electric cars. A cursory craigslist search shows a 2014 Fiat 500e for ~7.5k @33k miles and Nissan Leafs for as little as ~5k @42k miles. All with clean titles.
A used Model S 60 (2013) can be found for ~40k @60k miles, which I think is good but not great, especially considering the quality issues early on.
I'm waiting to pounce on 1st generation electric cars that will be hitting the used market when the Model 3 is mass produced. The reason I haven't bought yet is that my current hybrid is fine and I expect used electric car prices to drop even further.
From my understanding, a lot of it has to do with a combination of the subsidies that are being offered and with the rapid increase in range of newer models.
For example, my buddy in Boulder, CO bought a brand new Nissan Leaf for ~$12k (MSRp ~$30k). In addition to the state/federal credits, the local utility was offering $12k rebates or something like that.
Combine that with the fact that some of the early models had really low range (I think the early Leafs were below 80 miles) and I could see why the used market is behaving the way it is.
Potentially. But I think it's also the fact that dealerships are leasing out the 500e at $99 or even $59 a month for 3 year deals. So why even buy a used 500e when you can get a brand new one for <$100 a month or $1200 a year.
All other articles and GM comments say that the extended summer shutdown is to increase Bolt supply, not because there is too much supply already. The Bolt outsold both of Tesla's vehicles last month. The Sonic has weak sales, so during the shutdown they're reconfiguring the plant to make 1 Bolt for every 1 Sonic, where it was 1:2 before.
>The Bolt outsold both of Tesla's vehicles last month.
The article says GM sold only 7,592 Bolts in the first six months of this year. Tesla sold way more, and it makes a much higher profit per vehicle.
I don't know why Bolt sales are so low. When it came out the reviews were all very positive, and they said it would be strong competition for the Tesla Model 3. But the Tesla already has several hundred thousand pre-orders, whereas the Bolt is basically going no where.
I was responding to "I don't know why Bolt sales are so low"
The reason is that people don't really want electric cars per se, but they do like the idea of owning a Tesla. And yes, the Model 3 is a status car still, because of the Tesla name and relative rarity, even though it's more mainstream in pricing.
If people wanted electic cars, Bolts would be selling better. Chevy sells tons of regular cars.
>The Bolt wasn't even available in most states for the first six months of the year.
It's been nearly a year since it was released. If they still can't ramp up production, then the whole project is pretty hopeless.
Besides, the article says they are halting production because it isn't selling.
In any case, are you predicting that in another few months it will be selling tens of thousands a month and finally be a real success? Well, we will see.
Do you have a link to support this? My comment/link wasn't a dis of EV's, it was pointing out the glut of inventory GM are sitting on, including EV's.
If you are interested in a Bolt now would be an excellent time to bargain for one at the dealership...
Wow. I wonder how much of it has to do with the Model 3 (supposedly) being right around the corner. My wife's next car will likely be electric; we haven't looked at the Bolt YET but when the Model 3 hits of course we'll be shopping all of the competition.
A used Model S 60 (2013) can be found for ~40k @60k miles, which I think is good but not great, especially considering the quality issues early on.
I'm waiting to pounce on 1st generation electric cars that will be hitting the used market when the Model 3 is mass produced. The reason I haven't bought yet is that my current hybrid is fine and I expect used electric car prices to drop even further.