Residual Value Analysis of Plug-In Vehicles in the U.S.

With the sales of plug-in vehicles increasing over the past few years, the used market for plug-in electric vehicles (PEVs) emerges. Understanding the residual value of PEVs is critical for both consumers to make vehicle-purchasing decisions and decision makers to make PEV policies. In this study, the authors investigate the residual value of plug-in vehicles comparing with other vehicle powertrain technologies considering the federal incentives using True Market Value (TMV) data from Edmunds.com. Statistical models are developed to quantify the effects associated with powertrain technologies on residual value while controlling other key factors, including vehicle size classes, brands, market segments, and locations. The authors find that (1) Tesla Model S holds the value the best comparing with other vehicle models and types, (2) in general plug-in hybrid electric vehicle and battery electric vehicles do not hold the value as well as the comparable conventional models even after taking off the federal tax credits from market price; (3) larger size classes have higher residual values; (4) insignificant locational variance is observed for residual value from Edmunds’ TMV data.

• Supplemental Notes:
  • This paper was sponsored by TRB committee ADC80 Standing Committee on Alternative Transportation Fuels and Technologies. Alternate title: Residual Value Analysis of Plug-In Vehicles in the United States
• Authors:
  • Guo, Zhaomiao
  • Zhou, Yan
  • Campbell, Russ
• Conference:
  • Transportation Research Board 97th Annual Meeting
  • Location: Washington DC, United States
  • Date: 2018-1-7 to 2018-1-11
• Date: 2018

Language

• English

Media Info

• Media Type: Digital/other
• Features: Figures; References; Tables;
• Pagination: 17p

Subject/Index Terms

• TRT Terms: Automobile ownership; Decision making; Electric vehicles; Incentives; Market value; Plug-in hybrid vehicles; Pricing; Statistical analysis; Transportation policy; Used cars; Used vehicle industry
• Identifier Terms: Tesla automobile
• Uncontrolled Terms: Residual value
• Subject Areas: Economics; Finance; Highways; Planning and Forecasting; Vehicles and Equipment;

Filing Info

• Accession Number: 01657508
• Record Type: Publication
• Report/Paper Numbers: 18-03879
• Files: TRIS, TRB, ATRI
• Created Date: Jan 24 2018 9:24AM