The winter sale has just begun. And the next few months will really pick up speed. It hurts the price of electric cars, a new report shows.
A new report from Sweden shows that car prices plummet in winter, and electric cars are the worst hit.
The end of the year is traditionally a good time to buy a used car, as prices often fall. Statistics from the Swedish car broker Kvdbil confirm this trend.
– We see a clear seasonal variation, similar to that in the housing market. Right now is an excellent time to strike, says Daniel Odsberg, sales manager at Kvdbil.
According to the Used Price Index (BPI), which is based on data from sales on kvd.se, prices for used cars typically fall in the last quarter of the year and then rise again in January.
In the past three years, the price drop during this period has been between 1.6 and 5.3 percent. In 2023, the price drop was particularly significant and reached 5.3 percent.
– Last year the price drop was greater than usual, probably because the economic situation was at its toughest at the time, explains Odsberg.
However, the price development varies depending on the car's fuel type. Last year, prices fell the most on electric cars by 7.7 percent, while in 2022 it was plug-in hybrids that saw the biggest drop by 6 percent.
– If you look at the difference between different fuels, you can draw the safest conclusions from the past two years, and then it is the rechargeable supply that has shown the weakest development," says Daniel Odsberg.
The lower demand in the winter months particularly affects the more expensive car models, where the majority of electric cars are found.
– So for anyone considering a rechargeable car, this is a perfect time to act, concludes Odsberg.
The brand new electric cars are also currently rattling down in price, because the dealers have to clear their stocks. For example, the Danish Kia importer has cut almost a quarter of a million off the price of the huge Kia EV9. And at Audi in Denmark, they have lowered the price of the A6 e-tron, even before the first cars have reached Denmark.
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