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☆ Fisker's woes are another reason to consider leasing an EV over buying
▼ + stars: | 2024-05-01 | by ( Graham Rapier | ) www.businessinsider.com time to read: +4 min

There are several reasons to consider leasing an EV over buying. To be sure, the vast majority of EV owners don't have to worry about the maker of their vehicles imminently going out of business. AdvertisementUsed EV prices are a huge question markThere's limited data on EV resale prices. Pre-owned EV prices have fallen in line with new EV prices. EV leasing is growing in popularityLeasing an EV is no longer a niche concept.

Persons: —, Fisker, Cox, Polestar, Paul Jacobson Organizations: Service, EV, Leasing, International Energy Agency, American, Tesla, Cox Automotive, Electrek, Lease

☆ You can get a crazy good deal on a used Tesla from Hertz right now — but know these risks
▼ + stars: | 2024-04-25 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Screenshot of used Tesla listing from Hertz Car Sales website. Hertz Car SalesIt's a screaming deal for shoppers in the market for a used Tesla or any budget-minded EV shopper, a demographic slowly making up most of the electric car market. AdvertisementMileage and battery usageA used Tesla that has been in a rental fleet is likely to used much more frequently than one that's been personally owned. You can see that in the difference in mileage when you look on Kelley Blue Book for a used Model 3. Screenshot of a used Tesla Model 3 listing on KBB Business InsiderAnother $20,125 Model 3 we found on the Hertz website in January, a 2021 model, was listed with 92,789 miles.

Persons: —, Hertz, Kelley, Tesla, iSeeCars Organizations: Service, Hertz, Business, Tesla, KBB, EV, quicken Locations: Southeast Michigan

☆ How car buyers thinking hybrid over EV should make the decision
▼ + stars: | 2024-04-07 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +8 min

And what would the upfront costs be to upgrade your system to allow for faster charging, if desired? Do the math on upfront cost, EV vs. hybridIf it's still a toss up between an EV and a hybrid, next consider upfront costs. By contrast, the average starting price for a hybrid car is $33,214, according to iSeeCars.com, a car search engine. Search for available auto rebates and incentivesIf you're leaning toward an EV, but still find the upfront cost daunting, look for possible rebates. He points to a study by Argonne National Lab that shows scheduled maintenance costs per mile are significantly lower for an EV versus a traditional hybrid or plug-in hybrid.

Persons: you've, Aston Martin, Sandeep Rao, there's, Rao, Steve Christensen, Maxwell Woody, Woody, Albert Gore, ZETA Organizations: Ford, General Motors, Mercedes, Benz, Volkswagen, Jaguar, Rover, Gallup, New York, EV, Chevrolet, Department of Energy, Battery Coalition, Progressive Casualty Insurance Company, of Michigan, University of Michigan, Argonne National Lab, Honda Locations: U.S, California, Florida, Texas

☆ Poor resale values of EVs threaten adoption, warn some experts
▼ + stars: | 2024-04-05 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

Jeff Gritchen | Medianews Group | Getty ImagesA car loses value as soon as you drive it off the lot, but electric vehicles are taking this adage to a new level. That's becoming a major barrier to wider adoption, according to some industry and investment experts. While lower used EV prices could increase their desirability to some buyers, they can also reduce demand for new electric vehicles, according to Karl Brauer, executive analyst at iSeeCars. Kuo further argued that the software and computing capabilities of used EVs may become outdated and incompatible with updates by the time they are sold or even beforehand. According to iSeeCars, dramatic drops in used electric vehicle values in the U.S. have largely been driven by aggressive price cuts by Tesla amid a broader price war in the EV market.

Persons: Jeff Gritchen, Karl Brauer, David Kuo, Kuo, EVs, iSeeCars, Tesla Organizations: Medianews, Getty, iSeeCars.com, Smart, Industry, Bloomberg, VW, Toyota Locations: Fountain Valley , California, U.S

☆ Hertz dumping 20,000 EVs is a warning to electric-car owners everywhere
▼ + stars: | 2024-01-12 | by ( Graham Rapier | Nora Naughton | ) www.businessinsider.com time to read: +4 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The car-rental firm said it's selling 20,000 EVs — about one-third of its electric fleet of Teslas, Volvos, Polestars, and more — partly due to repair and maintenance costs. AdvertisementIt's also a warning about the cost of EV ownership to drivers thinking about switching from gas to electric. Mitchell, which supplies data for insurance and repair companies, has found EVs — and particularly Teslas — are more expensive than gas-powered cars to repair. Among all EVs, Tesla's Model 3 has the best resale value, falling by only 42.9% in five years.

Persons: Hertz, —, Adam Jonas, Morgan Stanley, It's, Jonas, Mitchell, Kelley, Power, iSeeCars Organizations: EV, Service, Automotive, Energy Innovation, Insurance, quicken Locations: West Coast

☆ Why experts say falling EV prices could actually hinder widespread adoption
▼ + stars: | 2023-12-08 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +1 min

Prices of used electric vehicles are down roughly 30% year over year, according to market research studies using data from September and October. The cheaper prices might bode well for buyers, but they raise concerns that low resale values could hurt EV adoption among mainstream consumers. The falling prices also add fuel to a debate over whether EV demand is faltering. "The mainstream appeal of these cars is still not there," said Karl Brauer, executive analyst for iSeeCars, a search engine for used cars. Edmunds, which provides a range of automotive data services, said in its Q3 2023 Used Vehicle Report that "the low resale values for used EVs could become a major deterrent to new EV purchases and EV adoption more broadly."

Persons: bode, Karl Brauer, They're, they've, Scott Case, Edmunds Organizations: iSeeCars

☆ Every type of used car is getting cheaper except trucks
▼ + stars: | 2023-10-10 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

The used car market took off during the COVID-19 pandemic. As of last month, used pricing had declined nearly 4% year-over-year, according to Cox Automotive's latest Manheim Used Vehicle Index, with one exception: Trucks. Overall, despite slight improvements in the used car market from 2020 and 2021, supply remains tight for used cars today, according to Cox, and is tighter than this same point both last year and pre-COVID. Used car dynamicsThe pandemic broke the used car market, and there is no "normal" for this market to return to. The ongoing UAW strike could also eventually threaten used car prices.

Persons: —, Cox, That's, It's, Chris Frey Organizations: Service, Manheim, UAW

☆ The pandemic broke the used car market — now shoppers are screwed
▼ + stars: | 2023-09-30 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

Used cars are still expensive, like they've been for years. Slow car production from 2020-2022 slammed the supply of lightly used cars in 2023, a study shows. AdvertisementAdvertisementRidiculously high used car prices are lingering like the last guest at the dinner party. During the pandemic, used cars got incredibly expensive for a couple of reasons. "There's really no factor contributing for used car prices to go down," Brauer said.

Persons: they've, —, iSeeCars, that's, that'll, Karl Brauer, Brauer, There's Organizations: Service, Toyota, Honda

☆ Used cars are older, pricier. 3 things to think about when shopping for a previously owned vehicle
▼ + stars: | 2023-09-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

As recently as 2019, used car shoppers could find a 3-year-old vehicle for about $23,000. Pandemic-era manufacturing issues have since increased the average age of used cars sold to 6.1 years, up from 4.8 years, according to car-shopping site iSeeCars.com, which analyzed more than 21 million used cars sold in 2019 and 2023. The average price for all used cars sold increased 33% between 2019 and this year, rising to $27,133 from $20,398, according to the site. To that point, 58% of sales from used vehicles came from 3-year-old or newer used cars in the second quarter of 2019. While prices cooled slightly, used cars overall are still expensive; sticker prices are 46% higher than the second quarter of 2018.

Persons: Karl Brauer, Edmunds Organizations: Finance Locations: Edmunds

☆ EVs are running out of customers — and some dealers don't want them anymore
▼ + stars: | 2023-08-23 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +5 min

AdvertisementAdvertisementMore electric vehicles are being pumped out of car factories than ever before – but some dealers don't want them. Electric car inventory has been piling up on dealership lots this year as companies up their EV production, leading some dealers to say enough is enough. Some are telling automakers they don't want any more until they can sell what's sitting, several dealers told Insider. AdvertisementAdvertisementIn the EV plateau, dealers are left in the lurchIn this round of growing pains for the electric car market, dealers are set up for the most trouble . "Dealers know in real time with real-time feedback what the market is doing," Karl Brauer, an automotive analyst for iSeeCars, previously told Insider.

Persons: Scott Kunes, Kunes, It's, Sam Fiorani, Fiorani, EVs, Tesla, Adam Lee, he's, Lee, Karl Brauer Organizations: Morning, Kunes, RV Group, Nissan, Mitsubishi, AutoForecast Solutions, Coast Ford, Midwest, Hyundai, Lee Auto, iSeeCars Locations: Detroit, West Coast, Maine

☆ Tesla's Cybertruck is Elon Musk's toughest gambit yet
▼ + stars: | 2023-08-21 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Musk is making further moves to thrust Tesla into the mainstream by entering the US market's lucrative pickup truck market. It's also a tough time to release any new product, especially an electric pickup truck. While Cybertruck is poised to go after a more unique set of pickup truck buyers, the company could face more trouble than it's used to converting existing truck buyers to the brand. Cybertruck will also face a tightening new vehicle market, with customers who are spending less on unnecessary purchases and gravitating toward more practical vehicles. "The nature of trucks is to work within this network of aftermarket companies out there – it will be interesting to see if Elon plays along."

Persons: Tesla, Elon Musk, It's, Cybertruck, it's, Karl Brauer, Brauer, Elon Organizations: Ford, GM, iSeeCars, Elon

☆ Cybertruck fans are nitpicking Elon Musk's final design as Tesla gets ready to deliver the long-awaited truck
▼ + stars: | 2023-08-11 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

The Cybertruck likely still has enough juice to rock the EV truck segment. As the Cybertruck gets closer to launch, photos of the vehicle have circulated on Tesla enthusiast blogs and forums. The video made rounds on Tesla CEO Elon Musk's social media website X, formerly known as Twitter, earlier this month. Tesla's take on the truckDespite comparisons and nitpicks, industry experts believe the Tesla Cybertruck still has the juice to disrupt the truck market as we know it. Do you have an order in for the Tesla Cybertruck?

Persons: Elon, Cybertruck, Ford's, Jim Farley, Tesla's, Karl Brauer, Ivan Drury, Edmunds, Tesla Organizations: Tesla, Ford, iSeeCars

☆ The EV plateau is coming. It's bad news for companies like Ford and Tesla.
▼ + stars: | 2023-08-10 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Current EV market growth "cannot be sustained," analyst says. The cap for rapid EV growth appears to be around 7% of the market. After years of rapid growth, the electric vehicle market is heading for a plateau. The states with the biggest share of electric vehicle sales are also the slowest to grow sales at the moment, according to a recent study from iSeeCars. California, Oregon, and Washington – where EV sales account for between about 7% and 10% of the market – are currently among the slowest-adopting states, the study found.

Persons: Tesla, Ford, It's, Sam Fiorani, Fiorani, Karl Brauer Organizations: Morning, EV, GM, Ford, AutoForecast Solutions Locations: iSeeCars . California , Oregon, Washington

☆ These 20 cars have the highest dealer markups over their sticker price
▼ + stars: | 2023-08-08 | by ( Alexa St. John | ) www.businessinsider.com time to read: +1 min

Average new car sticker prices have risen 7.4 percent from $39,712 last June to $42,645 this June. Here are the vehicles priced the highest above sticker, ranging from between 17% and 30% more. It's no secret that many cars aren't exactly affordable today, as new vehicles had an average sticker price of $42,645 in June. Dealers tacked on an average of $4,000 in markups to vehicle Manufacturer's Suggested Retail Prices in June, bringing the average price up 8.5% to $46,265, according to automotive research firm iSeeCars.com. See the 20 vehicles priced the highest above sticker price, per iSeeCars:

Persons: there's Locations: Edmunds

☆ Only 6 cars are selling for below their sticker price as dealer markups remain high
▼ + stars: | 2023-08-07 | by ( Alexa St. John | ) www.businessinsider.com time to read: +2 min

The pandemic brought on a supply crunch that's seen vehicles sell for way above their sticker prices. The COVID-19 pandemic brought on a car-supply crunch that normalized dealers selling vehicles well above sticker price. Though massive upcharges are becoming less common, there are still very few vehicles today that car shoppers can find for less than the Manufacturer's Suggested Retail Price. Just a year earlier, cars were going for $39,712 (sticker price) and priced more than 10 percent higher, around $43,717. See the six vehicles listed below sticker price, as well as the next six cars priced the closest to sticker price (albeit above), here:

Persons: iSeeCars.com

☆ Ford is going to miss its original EV production goals. Tesla's price war is to blame.
▼ + stars: | 2023-07-28 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Ford needs more time to hit its EV production targets as demand changes. Tesla's price war has made it harder to make money on EVs. The EV price war is forcing Ford to adjust its electric vehicle timeline. Ford confirmed during its earning report Thursday that EV pricing is one of the biggest hurdles to meeting their original EV production goals. "We expect the EV market to remain volatile until the winners and losers shake out," he said.

Persons: Ford, Jim Farley, Farley, Karl Brauer Organizations: Ford, Dealers, Tesla, GM Locations: Dearborn , Michigan, Tesla's

☆ New, used EV prices have dropped, but don't rush to buy: 'It's not a consumer-friendly market,' analyst says
▼ + stars: | 2023-07-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

New EV prices also fell nearly 20% from their peak of $66,390 in June of last year due to inventory growth, found a study by Kelly Blue Book. A year ago, demand for electric vehicles due to high gas prices from the war in Ukraine sent prices on an upward swing. "We've never had a used EV market; it's only beginning to develop," said Krebs. How to shop for a used EVThere is a tax credit for used electric vehicles worth up to $25,000, but only a handful of used EVs have depreciated to cost under the ceiling price. To that point, car shoppers looking into used electric vehicles should be cautious about their battery life and utility, experts say.

Persons: Sean Gallup, Joseph Yoon, Kelly Blue, Yoon, Krebs, We've, Edmunds Organizations: Getty, What's Locations: Edmunds, Ukraine

☆ People put down deposits for every electric truck in development, leaving dealers in the lurch when they eventually cancel all but one
▼ + stars: | 2023-07-22 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Dealers lose in the race to get an electric truck in consumers' driveways. Dealers have more to lose than manufacturers, who book revenue once the truck leaves the factory. In an electric truck market where buyers are placing bets on what will arrive first, dealers are likely to be the ones left in the lurch. Listening to dealers about where the demand pendulum is swinging will be crucial for car companies as they roll out more and more electric models in the coming years. Car companies that use dealers book revenue on a car once it leaves the factory (that's one of the biggest advantages legacy car companies have over startups that use a direct-to-consumer model).

Persons: Cybertruck, Tesla, Karl Brauer, Brauer, they're, Ford, EVs, Jessica Caldwell, Edmunds, Caldwell Organizations: Dealers, Ford, GM, iSeeCars, EV, Car

☆ Buying anything but a Tesla makes no sense right now
▼ + stars: | 2023-07-20 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Several car companies say their EVs will be built with the Tesla charging standard starting in 2025. Otherwise, buying an EV other than Tesla now means its charging tech will soon be in the minority. It's supposed to be a huge advantage to non-Tesla car companies that they're switching to Tesla's charging tech. With automakers, charging providers, and more moving to Tesla's tech, CCS will be far less popular in the coming years. The EV buyers in five to 10 years will be buying tech that's more advanced and stabilized.

Persons: Tesla, Elon, Karl Brauer, Brauer, NACS, Loren McDonald, McDonald Organizations: Morning, Ford, GM, Volvo, CCS Locations: America

☆ Ford's electric Mustang Mach-E is piling up on dealer lots as the automaker confronts an EV-inventory problem
▼ + stars: | 2023-07-12 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +6 min

But the automaker is having a hard time moving its inventory of Mach-E and Lightning EVs. Ford dealerships are selling fewer Ford EVs than they were this time last year, per Cloud Theory. Erich Merkle, Ford's head of US sales analysis, said EV sales were up nearly 12% through June. He also said the unsold Mach-E inventory wasn't just sitting on dealer lots because it spent more time in transit. The EV market is having its first growing painsFord is not alone in its struggle to match EV production with demand.

Persons: Ford, It's, Erich Merkle, Ford's, it's, they've, We've, Merkle, Tesla, Hummer, EVs, Karl Brauer, Brauer Organizations: Ford, Theory, EV, Coast Ford, East Coast, GM, Lightning, astjohn Locations: EVs, East, Midwest

☆ Elon Musk has a big learning curve ahead of him with the Cybertruck
▼ + stars: | 2023-07-01 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Tesla CEO Elon Musk has a learning curve ahead of him later this year when the Cybertruck finally hits customers' driveways. Musk is making further moves to thrust Tesla into the mainstream by entering the US market's lucrative pickup truck market. It's also a tough time to release any new product, especially an electric pickup truck. While Cybertruck is poised to go after a more unique set of pickup truck buyers, the company could face more trouble than it's used to converting existing truck buyers to the brand. "The nature of trucks is to work within this network of aftermarket companies out there – it will be interesting to see if Elon plays along."

Persons: Tesla, Elon Musk, It's, Cybertruck, it's, Karl Brauer, Brauer, Elon Organizations: Ford, GM, iSeeCars, Elon

☆ Tesla is removing one of the last barriers to EV ownership
▼ + stars: | 2023-06-22 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

The Tesla Supercharger network could remove the last barrier to EV ownership. Long-standing barriers to EV ownership like battery range and price are finally being addressed, leaving one last obstacle for many would-be EV-owners: access to public fast-charging stations. Tesla has the largest fast-charging network in North America, with about 20,000 Superchargers that previously only connected to Tesla vehicles. A recent study of EV infrastructure done by iSeeCars found that of the 150,000 EV chargers in the US, only about 30,000 are fast chargers (including the Tesla Supercharger network). Only about 11,000 of those fast chargers are non-Tesla chargers so opening up the Supercharger network does make a difference – but doesn't solve the problem.

Persons: Tesla, Long, Karl Brauer, We've, Brauer, iSeeCars, Rivian, Dan Ives Organizations: EV, Morning, Ford, GM, Tesla EV, Tesla Locations: North America

☆ The sneaky way automakers are keeping car prices high
▼ + stars: | 2023-06-05 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Throughout the height of COVID, carmakers got used to getting high prices. Car companies have a new way of keeping prices up: limiting options on the dealer lot. Since recovering from COVID-related plant shutdowns and an extended shortage of chips required for today's tech-laden cars, companies like Ford, General Motors, and Stellantis have finally seen more cars head to dealer lots. But they got used to selling vehicles for high prices with minimal inventory on their lots. But shoppers shouldn't necessarily see some automaker's low inventory as a signal of high demand for a vehicle that they'd have to pay big dollars to compete on.

Persons: carmakers, that's, Karl Brauer, We've, Brauer, Kelley, Ed Kim, Kim Organizations: Morning, Ford, General Motors, Deutsche Bank, Fort Locations: COVID, Fort Wayne

☆ Tesla's Cybertruck is finally coming. It's going to rattle rivals and transform the EV market as we know it.
▼ + stars: | 2023-05-21 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

The futuristic-looking truck is going to redefine what a pickup truck can look like. Tesla’s entry to the pickup truck market could be exactly what the segment needs. Tesla is finally ready to enter the most lucrative vehicle segment in the US: pickup trucks. The Cybertruck's arrival is expected to shake up the electric pickup truck market – and the entire stalwart truck market – with its arresting design and high-tech features. "This is going to be Tesla's take on the pickup truck, which is enough on its own, and competitors should be very wary of that."

☆ Automakers are pausing factory lines to help keep inventory low and prices high
▼ + stars: | 2023-05-03 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Throughout the height of COVID, carmakers got used to getting high prices. But some carmakers might limit their inventory to keep supply down and prices up. Since recovering from COVID-related plant shutdowns and an extended shortage of chips required for today's tech-laden cars, companies like Ford, General Motors, and Stellantis have finally seen more cars head to dealer lots. But they got used to selling vehicles for high prices with minimal inventory on their lots. But shoppers shouldn't necessarily see some automaker's low inventory as a signal of high demand for a vehicle that they'd have to pay big dollars to compete on.

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