Rising interest rates, a strained financial situation for many and big price cuts on new electric cars have all affected today’s electric car market.
Electric cars are also generally more expensive than their conventionally powered counterparts, especially if you look historically.
Now many are selling their electric cars in desperation, says Blocket’s business developer Marcin Stepman The evening paper.
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Owners of electric cars are afraid
According to Martin Stepman, many people are now afraid to keep their electric car for too long as they feel uncertain about the resale value.
This, he believes, is largely due to the fact that it is unclear which brands may come up with price reductions next, which in turn affects the prices of used cars. The brand that has cut the prices of its cars the most over the past year is Tesla, but Nissan, Ford and Polestar have also cut their prices.
According to Stepman, a clear indication of electric car owners’ fears is an explosive increase in advertisements for used electric cars on Blocket. In 2023, the supply of used electric cars on the block increased by 74 percent, which is, however, to some extent explained by increased sales of new electric cars each year.
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Odd brands are hard to sell
According to Aftonbadet, the models that dominate the range of electric cars on the Block are volume cars such as Volkswagen ID.3, Volkswagen ID.4, Skoda Enyaq and Tesla Model Y.
Despite the large range, however, it is not these cars that take the longest to sell. In fact, Tesla, along with Polestar and Volvo, is one of the fastest-selling brands.
It is worst for the Chinese brand Maxus, as well as Stellantis-owned Opel and Fiat, whose electric cars take an average of four months to sell.
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The experts call for calm
However, the fact that the electric car you own quickly loses value is not a good reason to sell, instead it is better to keep the car for a long time. That’s what Carl-Erik Stjernvall, technical expert at M Sweden, tells Aftonbladet.
Stjernvall believes that the most economical thing is to keep a car for eight to ten years, and that this also applies to electric cars. Marcin Stepman agrees, and emphasizes that the market can turn quickly.
However, both Carl-Erik Stjernvall and Marcin Stepman are aware that the current situation may be a good time for those who want to get an electric car to take the plunge, but Stjernvall does have a warning.
– It is buying mode if you have the budget for what an electric car costs. But keep in mind that interest rates are still high. An electric car is much more expensive to purchase than an equivalent fossil-powered car. You must include that in the calculation, says Stjernvall to Aftonbladet.
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