Used Electric Vehicle Depreciation:

• Used EVs face unsustainable depreciation rates, with values dropping 23% per year.
• After 2-3 years, the vehicle is worth less than half of its original value.
• This is one of the reasons why Hertz sold all their Teslas from their rental fleet, losing too much on depreciation.
• Source: AutoTrader tracks these values.

EV Efficiency Ratings & Misrepresentation:

• Recent revelations show that the government’s efficiency ratings for EVs may not be accurate.
• Some EVs are rated six times more efficient than they actually are.
• For example, a vehicle that achieves 65 miles per gallon equivalent is often rated at 430 miles per gallon equivalency—without any factual basis.
• The Department of Energy artificially inflates these ratings, which could impact how electric vehicles are viewed regarding their efficiency and environmental impact once the new ratings are issued.
• Source: Wall Street Journal.

Stay tuned for more on these evolving issues!