KTTH OPINION

Rantz: The used EV market is collapsing in Seattle, nationwide. So why do Democrats keep forcing them on us?

Jun 27, 2024, 9:20 AM | Updated: 12:28 pm

used EV...

An EV charging station in Seattle. (Photo: Jason Rantz, KTTH)

(Photo: Jason Rantz, KTTH)

The used electric vehicle (EV) market is collapsing across the country, and the Seattle area isn’t immune. The reason is simple: no one wants to drive EVs and the people who purchased them regret their decision. And yet Democrats are still pushing us into a future no one wants and one we’re not ready for.

According to an analysis by iSeeCars, which tracked more than 2 million used electric vehicles and gas-powered cars over a year to track price trends, a used EV in the Seattle area saw a price drop by nearly 30% — or almost $11,000. Nationwide, the number is around 35%. When compared to used car prices, it’s not even a competition. The used car dropped by only 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 EV market crashing in Seattle and around the country?

The used EV market is crashing because of basic economic principles that even an anti-capitalist activist could agree with. When you have a large supply and low demand, prices plummet.

After a surge of EV purchases in 2023, undoubtedly pushed along by people who either fell for the false promise of EVs or hoped to get a head start on demand (which would raise prices) as Democrats ban gas-powered car sales, there has been buyer’s remorse.

A McKinsey and Co. survey published notes that 46% of EV drivers in this country want to go back to gas cars. The report said they were “very” likely to switch back to a traditional car as their next purchase.

“There’s a real stalling we’re seeing in the U.S. that we’re not seeing in other geographies,” Philipp Kampshoff, a leading mobility analyst at McKinsey, told Politico.

More than a quarter of the unhappy EV owners cited the lack of charging stations and the high cost of ownership as reasons for their unhappiness. And it’s clear they’re flooding the market with their used EVs.

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We’re very clearly unprepared for EVs

Few people actually want an EV. Even if they see no problem with eventually purchasing one, and look forward to a world in which they don’t rely on gas (particularly when prices are so high under the Biden administration), most realize 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 purchasing an EV. We don’t have many EV charging stations 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 commute.

EV enthusiast and so-called “climate daddy” Governor Jay Inslee has tried to gin up excitement over EVs. In February, Inslee announced $85 million in grant dollars to install charging stations around 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’re unlikely to review the details of his plan. If you did, you’d not be very excited.

Where are these new EV charging stations?

There will only be 141 public locations getting EV charging stations and the majority of them are in Western Washington. And though they’re public, they won’t be very useful to the majority of Washingtonians.

If you’re one of the handful of people who use a city of Seattle library,  you’ll have some limited access to the charging stations. If you love golf and live in Tukwila, you might get an empty charging station to use at the Foster Golf Links. Love gambling in Marysville or going back to school in Edmonds? You’ll find a few 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’d realistically need if even a quarter of the renters purchased an EV. And if you live in a house, you’ll have to split the bill (which can range from $300-$2,500) to purchase the charging equipment in your garage (plus pay for installation in some cases and sky-high energy rates).

Complicating matters? City leaders like ones in Seattle who are constantly removing public parking spots for bus-only or protected bike lanes. Where are the eventual EV charging stations supposed to go? We’ll only have them in the tiny parking lots for public libraries or in select grocery stores.

EVs are not yet practical

If you have a short commute to the office each day, and you don’t use your car for longer trips, an EV could work for you if you can afford it. I suppose that’s good news for those in the market for a used EV. But for everyone else, it’s still not practical.

I was stranded late in the evening after a drive back to Seattle from a wedding in Cle Elum thanks to Hertz forcing an EV on me — that I didn’t order. There was nowhere to charge.

Imagine how often this will happen with the current infrastructure. If you forget to plug in one night and you notice on the way to work or a doctor’s appointment, imagine the inconvenience of not just trying to find the closest EV charging station and praying you’ll get there in time, but then having to wait 20 minutes before you get enough juice to make it the rest of your journey.

Democrats don’t care: EV or nothing!

Despite the reality, eco-extremist Democrats continue to foist EVs on us.

Starting in 2035, you’ll be forced to buy new EVs, 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 they’re superheroes saving the planet. The reality? More regulations, higher costs, and an infrastructure that’s not ready for this green fantasy. Buckle up, folks — your driving future just got a lot more expensive and inconvenient.

They’re ignoring the public’s discomfort with this direction, not only angering voters but creating unnecessary resentment towards environmentally conscious policy decisions that we all could get behind.

Listen to “The Jason Rantz Show” on weekday afternoons from 3-6 p.m. on KTTH 770 AM (HD Radio 97.3 FM HD-Channel 3). Subscribe to the podcast here. Follow Jason on X, formerly known as TwitterInstagram, and Facebook.

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Rantz: The used EV market is collapsing in Seattle, nationwide. So why do Democrats keep forcing them on us?