The automobile industry has been hit harder than almost any sector by the pandemic-led upheaval in the global supply chain. For more than a year, automakers have been forced to scale back production because of shortages of chips, lithium-ion batteries and other parts, leading most recently to steep drops in revenue and their share prices. One segment of the market has famously benefited, though: sellers of used electric vehicles, which have commanded unusually high prices. But until now I hadn’t looked closely at one segment of the used market—what you might call used-new EVs.
Like, how about $125,000 for a 2022 Rivian R1T pickup, factory sticker price $73,000)? Or $225,000 for a Lucid Air Grand Touring (sticker: $139,000), sold last October? Or $225,000 for a 2022 General Motors Hummer pickup (factory price $110,000)—a price the seller refused last week because she wants $250,000?