The value of gas-powered cars in ten years will depend on several factors, and the outlook is generally mixed:
Factors That Could Decrease Gas Car Value
Transition to Electric Vehicles (EVs): Many governments and automakers are pushing for a shift to EVs. As electric cars become more affordable and widespread, demand for gas cars could decrease, lowering their resale value.
Government Regulations: Countries are setting targets to phase out internal combustion engine (ICE) vehicles. For example, the UK plans to ban new gas and diesel car sales by 2035, which could lead to reduced demand and lower resale prices for gas cars.
Environmental Concerns: As consumers become more eco-conscious, the appeal of gas cars may diminish, pushing down their market value.
Running Costs: If fuel prices rise or become more volatile due to reduced demand for gasoline, owning a gas car may become less cost-effective, further impacting resale value.
Factors That Could Increase or Stabilize Gas Car Value
Classic or Niche Markets: Some gas-powered vehicles, especially sports cars, muscle cars, or luxury models, might increase in value due to their rarity and appeal to enthusiasts or collectors.
Infrastructure Limitations: In regions where EV charging infrastructure is slower to develop, gas cars may retain value longer due to practical considerations like longer range and widespread fueling options.
Price of New EVs: If electric cars remain relatively expensive compared to used gas cars, there could be continued demand for affordable gas-powered vehicles, helping to stabilize their value in the short to medium term.
Conclusion
While certain models of gas-powered cars may hold or even increase in value due to collector interest or niche markets, the overall trend is likely to see gas car values decline as electric vehicles become more dominant and regulations push consumers towards cleaner alternatives.
What’s to say that the government won’t add a carbon tax to incentive alternative fuel cars even if market rate would be quite low?
I think we can all agree that the plan isn’t for ICE to be the dominant propulsion system in 50-75 years. How fast exactly and to what is up for debate, but I see things moving in an orderly fashion. The car infrastructure is just too big for anything sudden to happen. (Barring some global mess like a war or something)
I think some cars will be worth more and some will be worth less. Exotics and other collectibles will be worth more since electric vehicles don’t really provide the same driving experience and they won’t be being manufactured any more.
It will also depend on location as certain states and cities are likely to charge tariffs or restrict entry for gas cars. Gas will also be taxed at a higher rate. If you live in one of these locations , your sales price will be much lower.
Several European cities already do this, so the writing is on the wall. Red states will probably be the last to take this approach though.
think some cars will be worth more and some will be worth less.
Yep, there will be no one blanket answer.
Desirable cars or vehicles that delivery specific utility (trucks, etc) will retain some value. Appliance cars that are abused then disposed won’t be worth much.
Once things reach larger scales of production EVs will probably be the cheap cars, ICE ones will be the fancy expensive ones.
I’m keeping my S2000 and manual Carrera S forever. I’ll put a new motor and trans in them and pay $10/gal before switching to an EV. Regular commuter cars won’t be worth anything at that point though.
Not only is the mining worse for the environment, the resources are infinitely more scarce than fossil fuels.
In addition to that, the average American can’t afford to by an EV and car manufactures are not going to let record profits dwindle especially on something so “technological” and “groundbreaking” as an EV.
Electric cars are cheap. I bought a new Model Y because it was cheaper than the used SUVs and trucks I was looking at. After government rebate, of course.
Depends on the condition of the vehicle, laws, and how available gas is in ten years. Look at an old 60s mustang. In perfect condition, it’s worth a lot more than it was. I’m bad shape… not so much.
I think there will be a market for gas cars for many years to come, but because the price of gas is going to climb steadily from now on. The demand for the big gas guzzlers will diminish significantly
EVs are turning the corner in the market, many companies are stopping even making ICE cars. The next trend is going to be refitting older ICE cars into EVs
PHEVs are going to be the way of the near future for the next while, then EVs will take over completely
I have had a Jeep 4xe for 2 years now. My mileage is 6.8l/100km. Or about 39m/Gal. I do about 2800km per tank or about 1800 miles per tank. I do most of my driving to work on full electric and I only really use gas if I go off roading or road trip
Predicting is hard, especially about the future" – Yogi Berra
So 10 years from now will be the 1st quarter of 2034. Projections put the global crossover point in sales – where EVs make up about half of the number of vehicles sold worldwide – at somewhere around 2028 +/- a couple of years The US has lagged, and will likely continue to lag, global trends, so roughly 2030 (again +/- two or three years) for sales. A vehicle is typically in service for over 12 years and 200,000 miles, so the crossover point for the vehicle fleet will be some years after the crossover point in sales.
There is a widespread expectation that as EVs increase in market share, and ICE vehicles increase in efficiency, that overall the number of fueling stations will drop significantly, resulting in fuel prices that climb faster than inflation does. While this may start by 2035, I expect that it will really accelerate towards the second half of the next decade as large numbers of combustion vehicles reach the end of their service lives.
That said, I expect that by the second half of the current decade, internal-combusion-powered vehicles will concentrate into three broad groups:
Cheap Cars – vehicles that are inexpensive to purchase but relatively expensive in terms of total lifetime costs because of ongoing fuel and maintenance costs. People who don’t have EV charging (generally low-cost housing: cheap apartments, trailer parks, and other communities on the low end of the socio-economic scale) will be forced into this market. Other folks may not be able to get the money or down payment for the more-expensive vehicles.
Enthusiasts – vehicles that are relatively expensive because they’re intended for specific markets: rally, race, off-road, etc. where electric vehicles are either not performant or are excluded from the specific competition category.
Business – vehicles that need specific advantages of petroleum fuels (very high power density and very fast refueling time) to meet their mission objectives.
The move of internal combustion cars downmarket will probably depress resale values for used internal combustion vehicles. If gas-powered Corolla-equivalents are the budget cars of 2035, then you’re unlikely to command a premium price for a similar gas-powered car.
However, if your car is in (or is adaptable to, or can supply useful parts for) one of the enthusiast markets, it may command a higher price.