The used electric vehicle (EV) market is collapsing across the country, and the Seattle area is not immune. The reason is simple: nobody wants to drive electric vehicles, and people who bought them regret their decision. And yet the Democrats are still pushing us toward a future that no one wants and for which we are not ready.
According to an analysis by iSeeCars, which tracked more than 2 million used EVs and gas cars over the course of a year to track price trends, a used EV in the Seattle area saw a price drop of nearly 30% — or almost $11,000. Nationally, the figure is around 35%. When compared to used car prices, it’s not even a competition. The used car dropped by just about $400 nationwide.
The used EV market is crashing for good reason. All you have to do is look at the data.
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Why is the used car market crashing in Seattle and nationwide?
The used EV market is collapsing because of basic economic principles that even an anti-capitalist activist could agree with. When you have a large supply and low demand, prices drop significantly.
After a surge in EV purchases in 2023, no doubt driven by people either falling for the false promise of EVs or hoping to get a jump start on demand (which would drive up prices) as Democrats ban sales of gas cars, there was buyer’s remorse.
A McKinsey and Co. a published survey notes that 46% of electric vehicle drivers in this country want to switch to gas cars. The report said they were “very” likely to switch to a traditional car as their next purchase.
“There’s a real stagnation that we’re seeing in the U.S. that we’re not seeing in other geographies,” Philipp Kampshoff, a principal mobility analyst at McKinsey, told Politico.
More than a quarter of dissatisfied EV owners cited a lack of charging stations and high cost of ownership as reasons for their dissatisfaction. And it’s clear they’re flooding the market with their used electric vehicles.
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We are very clearly not ready for the EV
Few people actually they want an EV. Even if they see no problem with eventually buying one and look forward to a world where they don’t rely on gas (especially when prices are so high under the Biden administration), most understand that we’re nowhere near ready for EVs .
Neither Washington state nor the rest of the country has the infrastructure in place for most people to justify buying an EV. We don’t have many charging stations for EVs, and the ones we do have require a long plug-in time to get enough juice to make it on a road trip or long drive.
EV enthusiast and so-called “climate father” Governor Jay Inslee has been trying to drum up excitement for EVs. In February, Inslee announced $85 million in grants to install charging stations across the state.
“One of the most important ways we can make electric vehicles an option for more people is by providing more charging stations,” Inslee said.
He knows you are unlikely to review the details of his plan. If you did, you wouldn’t be too excited.
Where are these new EV charging stations?
There will only be 141 public locations receiving EV charging stations, and most of those are in Western Washington. And although they are public, they won’t be of much use to most Washingtonians.
If you’re one of the few people who use a Seattle city library, you’ll have limited access to charging stations. If you love golf and live in Tukwila, you can pick up an empty charging station to use at Foster Golf Links. Like to gamble in Marysville or go back to school in Edmonds? You’ll find several EV charging stations at Quill Ceda Creek Casino and Edmonds College.
If you live in an apartment complex, think about how many charging stations you would really need if even a quarter of the tenants bought an EV. And if you live in a house, you’ll have to foot the bill (which can range from $300-$2,500) to buy charging equipment in your garage (plus installation fees in some cases and high energy bills) .
Complicating matters? City leaders like those in Seattle who are constantly giving up public parking spaces for protected bus-only bike lanes. Where should the eventual EV charging stations go? We will only have them in small parking lots for public libraries or select grocery stores.
EVs are not yet practical
If you have a short commute to the office each day and don’t use your car for longer trips, an EV might work for you if you can afford it. I think this is good news for those in the market for a used EV. But for everyone else, it’s still not practical.
I got stranded late at night after a drive to Seattle from a wedding in Cle Elum thanks to Hertz forcing an EV on me – which I didn’t order. There was nowhere to load.
Imagine how often this will happen with the current infrastructure. If you forget to plug in one night and notice on the way to work or a doctor’s appointment, imagine the hassle of not only trying to find the nearest EV charging station and praying you get there in time, but then having to wait 20 minutes before you get enough juice to make it through the rest of your journey.
Democrats don’t care: EV or nothing!
Regardless of the reality, the eco-extremist Democrats keep bashing our electric cars.
Starting in 2035, you will be forced to buy new electric cars, whether you like it or not. The new law in Washington, mirroring California’s lead, mandates that by 2035, all new cars sold must be zero-emission vehicles.
It’s a classic case of government overreach, punishing consumers and small businesses while pretending to be superheroes saving the planet. Reality? More regulations, higher costs and an infrastructure that is not ready for this green fantasy. Buckle up, folks—your driving future just got a whole lot more expensive and inconvenient.
They are ignoring public concern with this direction, not only angering voters, but creating unnecessary resentment toward environmentally conscious policy decisions that we can all get behind.
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Image Source : mynorthwest.com
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