The Dynamics of Plug-in Electric Vehicles in the Secondary Market and Their Implications for Vehicle Demand, Durability, and Emissions
Until recently, there were very few used plug-in electric vehicles (PEVs) on the market. However, when looking at the secondary market for conventional vehicles we see that it comprises a large percent of vehicle sales per year making its impact very significant on the market as a whole. Similarly, the secondary market for PEVs will have a large effect on the entire market including on the sales of new PEVs.
Can these used vehicles provide environmentally friendly choices to those who do not buy new vehicles? Is range degradation an important factor in the use and purchase of the vehicle? Do the subsidies provided by the State, Federal and local authorities pass to the second owner and by how much? To what extent do the subsidies distort the used market for vehicles? This study will investigate the benefits of used PEVs in the market and the economics behind their valuation and purchase. Barriers and opportunities identified in the secondary market can be incorporated into the policies for the primary market to make PEVs a more robust and sustainable transportation solution.