The future of EV sales & resales

With only 13 EVs/PHEVs now qualifying for the full IRA Federal incentive of $7,500 due to sourcing requirements, it is clear that EV/PHEV leasing, with the 45W rule that grants the commercial user the full credit with no sourcing requirements, will inevitably be the preferred “sale” of choice for many OEMs and finance institutions. However, as values of used EVs have dropped (and continue to drop) dramatically over the last 18 months, it has become increasingly difficult to forecast a residual value, vital to any finance organization's lease planning. During this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C., a trio of experts explored the wide-ranging ramifications of the substantial loss in value of used EVs, the continuing evolution of the used EV market, and how technology and digital marketplaces will affect the future of the new and used EV market. The panel included: Elena Ciccotelli, host and producer, The EVs for Everyone Podcast John Possumato, founder and CEO, DriveItAway Jimmy Douglas, founder and CEO, Plug