ELR Values: Why?

"For Sweden" (rallybeetle)
08/02/2019 at 11:15 • Filed to: None

Why has the Cadillac ELR held onto so much value, while comparable Volts continue to crater deeper into depreciation?

DISCUSSION (31)

facw > For Sweden
08/02/2019 at 11:18

The ELR looks good instead of being a boring econobox? The market for EVs is much stronger among the wealthy?

TysMagic > For Sweden
08/02/2019 at 11:19

weird Cadillac-ness? I’ve pondered the same thing actually because I thought these might be a good electric luxury value.

For Sweden > facw
08/02/2019 at 11:21

But it doesn’t look good! It looks worse than the Volt!

Snuze: Needs another Swede > For Sweden
08/02/2019 at 11:21

Weren’t those like $60k+ MSRP? I’d call that a pretty big crater, relatively speaking. Same era (1st gen) Volts around me are in the $10k range, so 30k to 10k, 60k to 20k, both took about a 66% hit.

Wheelerguy > For Sweden
08/02/2019 at 11:22

Because it’s got a Cadillac badge on it and therefore it must be worth something more than a Chevy.

For Sweden > Snuze: Needs another Swede
08/02/2019 at 11:22

It is a huge percentage hit. I just can’t imagine anyone wants to spend $20,000 on an ELR.

facw > For Sweden
08/02/2019 at 11:23

Looks good to me. Better than most Cadillacs certainly, and definitely better than the Volt (which has to be one of the worst concept>production transitions, not that I was a huge fan of the concept)

benn454 > For Sweden
08/02/2019 at 11:24

I disagree.

benn454 > facw
08/02/2019 at 11:25

The concept was basically an electric mini Camaro, and would have had atrocious aero.

For Sweden > benn454
08/02/2019 at 11:25

I’m not going to imprison you for being wrong

benn454 > For Sweden
08/02/2019 at 11:26

Because it's much nicer on the inside than a Volt? Why do luxury marque buyers do anything?

Snuze: Needs another Swede > For Sweden
08/02/2019 at 11:27

Its hard to say this without having sat in one, but Id consider it. A used 2nd gen Volt is still close to $ 20k, and if I were looking for that kind of car, I’d cross shop the 2. There’s an Oppo whose name escapes me that bought one new for some drastic discount and seemed to really like it. I remember him saying it was arguably Cadillacs best interior ever.

But n o matter how you cut it they are all just fancy Cruzes.

benn454 > For Sweden
08/02/2019 at 11:27

VIVA LA REVOLUCION

I like cars: Jim Spanfeller is one ugly motherfucker > For Sweden
08/02/2019 at 11:29

ding dong your opinion is wrong

For Sweden > I like cars: Jim Spanfeller is one ugly motherfucker
08/02/2019 at 11:29

no u

facw > benn454
08/02/2019 at 11:32

Absolutely, but the fact that the concept wasn’t really workable doesn’t change the fact the production model is pretty boring.

ranwhenparked > For Sweden
08/02/2019 at 11:33

I've never understood it either, it has the windshield and front end of a '90s dustbuster minivan and the front wheels take up like 95% of where the fenders would be. The proportions are bizarre, it looks like they tried to force fit a luxury coupe body onto the hardpoints of a FWD economy car platform.

sm70- why not Duesenberg? > For Sweden
08/02/2019 at 11:53

I’d consider one at 18k. Good looking electric luxury car with some modern features. They were C P at $60k but NP at 1/3 of that.

Gerry197 > For Sweden
08/02/2019 at 11:59

c ompared to MSRP that’s a pretty big hit.

I think you are comparing ELR vs Volt pricing directly instead of deprecation off of original MSRP.

Though you should factor in incentives as well to get an actually idea how much of a difference it actually was.

JMordu becoming “savethemilanos” > For Sweden
08/02/2019 at 12:08

Because they are an absurd value and have absurd presence. I can’t think of another modern car I would spend $20k on, anything else and I’d be getting so much less for my money. Prove me wrong please, I am kinda ready to sell my ELR but literally can’t find anything else that doesn’t cost twice as much or feel like a step down. I’m 100% serious, thought I would have sold mine by now but can’t find anything else I want more in my budget

JMordu becoming “savethemilanos” > Snuze: Needs another Swede
08/02/2019 at 12:09

Even worse, the 2014s were $75k, and $84 with the one major option (tech package). 2016s had everything from the tech package and more for ~$65 MSRP though. And volts were $34k+ in 2014, so really they have both lost around 75%!

JMordu becoming “savethemilanos” > Snuze: Needs another Swede
08/02/2019 at 12:11

It is an amazing interior for a Cadillac ! That’s exaclty how I ended up with my ELR last year, I wanted features that were only in the 2nd gen volt and a CPO ELR was not only way cooler and fancier but cheaper than any used 2nd gen volt. It was a no brainer once I was in the market for a range-extended car

JMordu becoming “savethemilanos” > For Sweden
08/02/2019 at 12:13

That’s an absurd take. I mean you are of course entitled to your opinion, but a 2014 volt looks like a worse version of an early 2010s chevy. Just dumpy and sad, while people constantly compliment my 2014 ELR and think I just bought it new.

JMordu becoming “savethemilanos” > ranwhenparked
08/02/2019 at 12:21

That’s very fair and the most apt description I’ve ever heard. It is awkward from a lot of angles. I think it all comes down to whether you see the design as “a fit guy in a shirt two sizes too small” or “two kids stacked in a trenchcoat.” In other words, does it coalesce in your mind’s eye as the luxury coupe or the economy car. Lots of us, myself included end up seeing it as the luxury coupe, even though we know it’s not really quite right, and are left with a generally positive impression. But if you see the economy car then I would assume the whole thing just looks absurd and stupid

Sammyno55 > benn454
08/02/2019 at 12:24

I drove one in January. The seats are so much better than the Volt seats. The dealer had that particular 2014 ELR on the lot since November. The salesman called me every other week since to come buy it. I just looked on their website and t hey have only knocked $800 off since January. In January, I offered $19,100 because it wasn't the color combo I wanted but meet all the other requirements. It's still sitting around at $23,800 none months later.

gmporschenut also a fan of hondas > Snuze: Needs another Swede
08/02/2019 at 12:40

Also a big factor is the 7500 tax credit which hurts the optics of the depreciation value.

benn454 > facw
08/02/2019 at 14:13

Eh, so are the Prius and Leaf. Such is the tyranny of Cd.

Snuze: Needs another Swede > gmporschenut also a fan of hondas
08/02/2019 at 17:08

Interestingly, my neighbor bought a used Volt recently. I have no idea about his finances but he is married with 4 kids. H e says he did the math and in his case used was the cheaper option.

gmporschenut also a fan of hondas > Snuze: Needs another Swede
08/02/2019 at 17:23

With 4 kids, and the corresponding tax deductions, it may mean he couldn’t collect the full value. So used would make sense.

pip bip - choose Corrour > For Sweden
08/03/2019 at 06:26

rarity perhaps?

Forrest > For Sweden
08/04/2019 at 01:22

I think I read that the ELR’s EPA MPG rating is 35 hwy / 31 city.

My VW Golf is rated at 34 hwy / 25 city, but it does 30-35 MPG in stop and go traffic. And, there are plenty of non-hybrid cars that getter MPG.

What is actually gained by the ELR being a hybrid?