First Look at the Plug-in Vehicle Secondary Market
- Author(s): Tal, Gil;
- Nicholas, Michael A.;
- Turrentine, Thomas S.
- et al.
In most markets in the world there are very few used PEVs. California is one of the first markets to have a significant secondary market - about 5-8% of the almost 200,000 PEVs in California are being used by a second owner. Looking at the market for conventional vehicles, used vehicle sales comprise the clear majority of all transactions while the new vehicle buyers are a small share of the households, making used PEV sales potentially very significant on the market as a whole. As the number of used PEVs grows, the secondary market for PEVs will have an increasing effect as used PEV buyers join new buyers in adopting a new technology. 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 vehicles? Do the subsidies provided by State, Federal and local authorities pass to the second owner and by how much? This report explores the used PEVs in the market and the motivations behind their purchase and use.