But after a short 36 months, it seems to fizzle out on the value-end of things.
That's right, it's been estimated by Kelley Blue Book that after just 36 months on the road the Volt's $41,000 price would drop to a mere $17,000. That's just 42%. Is anyone else shocked by this? Since electric cars have fewer moving parts, there should be fewer mechanical issues over the years, therefore maintaining the car's value on the road as less will be “wrong” with it.
What it really comes down to is convincing secondhand buyers that an electric vehicle is a good buy when battery lifespans are known to be shorter than that of a traditional engine.
Of course, if you take into account the fact that in the US you get a $7,500 federal tax credit when you purchase the Volt, bringing its sticker price down to $33,500, then the residual value jumps to 51% putting it above much of the competition (Toyota Prius at 46%), but KBB won't have statistics on the Nissan LEAF (the Volt's assumed nemesis) until later this year.
Source: Automotive News
That's right, it's been estimated by Kelley Blue Book that after just 36 months on the road the Volt's $41,000 price would drop to a mere $17,000. That's just 42%. Is anyone else shocked by this? Since electric cars have fewer moving parts, there should be fewer mechanical issues over the years, therefore maintaining the car's value on the road as less will be “wrong” with it.
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| Photo: Michel Deslauriers/Auto123.com |
What it really comes down to is convincing secondhand buyers that an electric vehicle is a good buy when battery lifespans are known to be shorter than that of a traditional engine.
Of course, if you take into account the fact that in the US you get a $7,500 federal tax credit when you purchase the Volt, bringing its sticker price down to $33,500, then the residual value jumps to 51% putting it above much of the competition (Toyota Prius at 46%), but KBB won't have statistics on the Nissan LEAF (the Volt's assumed nemesis) until later this year.
Source: Automotive News