Technology

The Chevrolet Volt’s Terrible Resale Value Explained

One essential issue within the poor resale worth of the Volt is market circumstances. While the hype round electrical autos dominates on-line discourse, statistics present that hybrid-electric autos (HEVs) far outnumber their plug-in-electric (PEV) and plug-in-hybrid (PHEV) compatriots, and it is not a development that is slowing down both. According to The Bureau of Transportation Statistics, in 2021 there have been virtually twice as many HEVs offered than PEVs, which outsold PHEVs by a large margin. 

Variety, not curiosity, killed the cat. According to a report by EVAdoption [PDF], in 2020 there have been solely 55 PEV or PHEV fashions to select from, which rose to 80 in 2021, and was projected to rise to 165 by 2025 — a marked enhance in client alternative on the subject of each PHEVs and BEVs. With new EVs just like the Chevrolet Bolt EV beginning at $25,600, it is easy to see why no person needs to pay very a lot for a used PHEV. After all, PHEVs signify the worst of each worlds — they endure typical EV battery degradation, restricted electrical vary, and elevated weight, mixed with the added complexity and value of an inner combustion engine.

As PEVs are commoditized, there’s little motivation to purchase a used PHEV except the worth is low, which is certain to push the Volt’s value down. Combine the modifications within the market and client angle with the already-low demand for the Volt, and you’ve got an ideal recipe for extreme car depreciation. 

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