They Should Tell You That:' Georgia Woman Pays $58,000 for Mustang EV. She Can't Believe What It's Worth a Year Later

"When I tell you that I owe $48,000 on this car, and the resale value is like 20,000 I don't know what I'm gonna do, she said in the clip that's been viewed more than 6,000 times. Taylor says she paid roughly $58,000 for her 2023 Mustang Mach-E, including taxes, fees, and an extended warranty. That number isn't far off from typical transaction prices last year."

"That aligns with a broader decline in EV resale pricing, as analysts reported in mid-2024 that used EV prices had fallen by more than 30% year-over-year, one of the steepest drops recorded for any vehicle category. Those price shifts didn't happen in a vacuum. Tesla triggered a wave of across-the-board price cuts beginning in early 2023, a move that forced other automakers, including Ford, to follow suit."

Morgan Taylor, a Georgia-based owner, paid about $58,000 for a 2023 Mustang Mach-E including taxes, fees, and an extended warranty. Taylor currently owes $48,000 while estimating the vehicle's resale value at about $20,000, producing roughly $28,000 in negative equity. Transaction prices for many 2023 Mach-E models were in the mid-$50,000s, with buyers often paying above sticker amid limited inventory. Used 2023 Mach-E listings commonly range $22,000–$28,000. Analysts reported used EV prices fell more than 30% year-over-year by mid-2024. Price cuts by Tesla in early 2023 prompted similar reductions across other manufacturers.

Read at insideevs.com