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First Look at the Plug-in Vehicle Secondary Market

Author

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  • Tal, Gil
  • Nicholas, Michael A.
  • Turrentine, Thomas S.

Abstract

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.

Suggested Citation

  • Tal, Gil & Nicholas, Michael A. & Turrentine, Thomas S., 2017. "First Look at the Plug-in Vehicle Secondary Market," Institute of Transportation Studies, Working Paper Series qt22p191zs, Institute of Transportation Studies, UC Davis.
    • Handle: RePEc:cdl:itsdav:qt22p191zs
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    References listed on IDEAS

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    1. Jiawei Chen & Susanna Esteban & Matthew Shum, 2013. "When Do Secondary Markets Harm Firms?," American Economic Review, American Economic Association, vol. 103(7), pages 2911-2934, December.
    2. Majid, Kashef Abdul & Russell, Cristel Antonia, 2015. "Giving green a second thought: Modeling the value retention of green products in the secondary market," Journal of Business Research, Elsevier, vol. 68(5), pages 994-1002.
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    Cited by:

    1. Hardman, Scott, 2019. "Understanding the impact of reoccurring and non-financial incentives on plug-in electric vehicle adoption – A review," Transportation Research Part A: Policy and Practice, Elsevier, vol. 119(C), pages 1-14.
    2. Piotr Wróblewski & Wojciech Lewicki, 2021. "A Method of Analyzing the Residual Values of Low-Emission Vehicles Based on a Selected Expert Method Taking into Account Stochastic Operational Parameters," Energies, MDPI, vol. 14(21), pages 1-24, October.
    3. Canepa, Kathryn & Hardman, Scott & Tal, Gil, 2019. "An early look at plug-in electric vehicle adoption in disadvantaged communities in California," Transport Policy, Elsevier, vol. 78(C), pages 19-30.
    4. Guo, Zhaomiao & Zhou, Yan, 2019. "Residual value analysis of plug-in vehicles in the United States," Energy Policy, Elsevier, vol. 125(C), pages 445-455.
    5. Hardman, Scott, 2019. "Understanding the Impact of Reoccurring and Non-Financial Incentives on Plug-in Electric Vehicle Adoption – A Review," Institute of Transportation Studies, Working Paper Series qt7v13w987, Institute of Transportation Studies, UC Davis.

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