EVs are holding value better than expected – and it has a lot to do with Australia’s cost of living
News Source
•Fri, 16 Oct 2026 14:00:15 GMT
📰 What Happened
Second-hand electric cars in Australia are worth more than many experts expected. In late March, auction house Pickles sold 40 BYD cars, and thousands of buyers rushed to bid. Written-off EVs sold for 16 per cent more than petrol cars. Repairable electric cars brought a huge 71 per cent price premium.
🔍 The Backstory
For years, people feared used EVs would lose value fast and become worthless. Pickles has tested more than 2,750 used batteries. It found that five-year-old EVs keep about 93 per cent of their battery life. Even cars driven over 230,000 km still score about 89 per cent. High fuel prices from the Iran conflict and a flood of cheap Chinese brands pushed more buyers toward electric cars.
🎯 Why It Matters
A used electric car can now be a smart money choice for families. Cheaper running costs and strong resale value help with the cost of living.
Second-hand electric cars in Australia are worth more than many experts expected. In late March, auction house Pickles sold 40 BYD cars, and thousands of buyers rushed to bid. Written-off EVs sold for 16 per cent more than petrol cars. Repairable electric cars brought a huge 71 per cent price premium.
For years, people feared used EVs would lose value fast and become worthless. Pickles has tested more than 2,750 used batteries. It found that five-year-old EVs keep about 93 per cent of their battery life. Even cars driven over 230,000 km still score about 89 per cent. High fuel prices from the Iran conflict and a flood of cheap Chinese brands pushed more buyers toward electric cars.
A used electric car can now be a smart money choice for families. Cheaper running costs and strong resale value help with the cost of living.