Electric vehicle depreciation

Electric vehicles depreciate as fast as driving off a cliff. Its the reason why businesses have been dumping Teslas and going back to petrol

Future lease deals will reflect this too as I do not think manufacturers were expecting them to tank as much as they have. EV's have to be dirt cheap and cheaper to buy than their ice alternatives which will just never happen as the car companies expect the government to foot the bill.

I guess this is why companies like Toyota/VW have been rightfully cautious as they are already top of the tree whereas more fringe companies like Volvo and JLR have gone all in.
 
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Electric vehicles depreciate as fast as driving off a cliff. Its the reason why businesses have been dumping Teslas and going back to petrol

Part of that is charging them too. If you have an office with a shared or public carpark (most businesses I guess), you can't simply slap charging point in it. Time is money.
 
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This is the typical response who totally lets the negatives of owning an EV completely fly over their head. Is an EV in its current state a better proposition than an ICE car for a private buyer? The simple answer to that is no. Whatever you save on fuel costs is completely wiped out by depreciation and an ICE car will do everything that an EV can do without the negatives.
We’re talking about used cars. You say they deprecate like crazy, that’s absolutely fantastic for a private buyer looking at a 3-4 year old used car.

3-4 year old used EVs are retailing for roughly the same amount of money as a similar used ICE car. Your augment that essentially in another 3 years the used EV will be worth substantially less than the used ICE car. Thats not born out in the used market, they appear to be deprecating at roughly the same rate from that 3 year old point e.g. Zoe vs Clio.

Your response is typical of someone who hasn’t actually looked at the used market :p
 
We’re talking about used cars. You say they deprecate like crazy, that’s absolutely fantastic for a private buyer looking at a 3-4 year old used car.
The ev relatively high insurance premiums, which reflect the repair cost (parts availability, expertise) still don't bless that opportunity,
even if you are ready to take a gamble that further depreciation will match ICE, to make the all-in running cost/mile superior.
(e: all in running cost is the most important - yes that include insurance)
 
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It’s the same thing….

Well yes, but a greater focus is on charging now. As people have rightly pointed out, not many people regularly go long distances, but you don't want to arrive somewhere and then find you're stuck. Much less likely in an ICE vehicle.
 
The ev relatively high insurance premiums, which reflect the repair cost (parts availability, expertise) still don't bless that opportunity,
even if you are ready to take a gamble that further depreciation will match ICE, to make the all-in running cost/mile superior.
(e: all in running cost is the most important - yes that include insurance)
I am not going to lie and say I am not a little worried about the seemingly random insurance cost increases for some people..... BUT that said some homework is needed by prospective buyers rather than just taking the FUD spouted by some of the gutter press.

after reading about the supposed horrific increases to EVs i (with great trepidation) got a quote for my car as if i was going to get one now. it had increased but by less than £200........ which to be fair is no more than what a lot of owners are seeing across the board regardless of fuel type.

I agree there are things to think about with EV ownership but I do wonder how much of the "fear" of buying one is actually created by the constant bombardment of negative "news" from the press......... and then of course it is as jonnycoupe said a self fullfulling prophecy.

1) Improvements in infrastructure needs to happen.
2) The parts shortages (for all cars) needs to get sorted (and the B word has some of the blame for that apparently)
3) More mechanics need to be trained in EVs (and indeed the garages which refuse to do so i fear may have problems long term - which may not be an issue if its a smaller company and the mechanic just decides to wrap it all up i guess.

But also imo these news sites need to be bought to task on their constant FUD imo and indeed possibly face charges if it can be shown that they continually print objectively incorrect / biased crap.

if a newspaper printed a story saying I was an arsonist setting fire to carparks or boats without any facts to back it up, I could sue .

however they get a totally free pass to accuse EVs of that every time there is a fire involving a vehicle, which in turn can cost businesses their trade and could theoretically send them under......... how is that not something they should be liable for?...

You still see some parroting that car batteries are fit for the skip after a handful of years, despite IF that was the case they would still be under warranty these days. Even the mark 1 nissan leaf with the worst battery of any modern EV has shown to have better battery longevity than that.
or the whole "Rare Earth metals" in batteries which is, and always has been a lie, combined with rare elements, which does have some truth, but that is now fast becoming optional (and is recyclable) , and also ignores the rare earth elements used in refining or in catalytic converters and the like.

I support freedom of the press but at the same time they have a responsibility..... They should have their credentials revoked if they abuse that privilege, they are meant to report the news, not create it.
 
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And the petrol/diesel new car ban will probably end up being pushed back to 2040, the original target.

It is completely irrelevant though, as the zero emissions mandate on new car sales will mean even if you want a petrol car, you'll find it very difficult to buy one long before any date for a ban.
 
It is completely irrelevant though, as the zero emissions mandate on new car sales will mean even if you want a petrol car, you'll find it very difficult to buy one long before any date for a ban.
do you think the government will honour that tho? i expect them to backtrack on that as well TBH
 
do you think the government will honour that tho? i expect them to backtrack on that as well TBH

It started this year? So yes.

You can already see manufacturers responding - do you want a BMW 4 Series Coupe that isn't an M4 or an M Performance version? You can chose from a range of... 1. A 2 litre 4 cylinder with less than 200bhp. The rest of Europe gets the full range though...

New Mercedes E Class Estate - only available with a 2 litre engine with 200bhp. Again, elsewhere in the world a full range of engines is available...
 
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They would have canned the EV mandate already if they were going to do it.

The EV mandate also exists on the continent so I’m not sure we can attribute the above example to the UK mandate.

Being a RHD market is bound to have an impact.
 
Whilst nothing is necessarily set in stone forever, it's far more of a work up to actually change something that's been passed into law and impacts manufacturers from now (as the ZEV mandate was in January) than to change your mind on pledged dates that are 10-20 years away.
 
Being a RHD market is bound to have an impact.

The other engine versions are still available in other Right Hand Drive markets, so no.

To clarify, I am not talking about the date for the ban on the sale of petrol cars, which also exists in Europe. I am specifically talking about the UK requirement for an increasing percentage of vehicle sales to be zero emissions, which started this year.
 
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I can't see there not being some kind of concession made against the ZEV mandate. If not a complete pause / removal then a reduction in the percentage ramp up.

EDIT - or a continuation of allowing up to 75% of their credits being bought from other manufacturers.
 
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The other engine versions are still available in other Right Hand Drive markets, so no.

To clarify, I am not talking about the date for the ban on the sale of petrol cars, which also exists in Europe. I am specifically talking about the UK requirement for an increasing percentage of vehicle sales to be zero emissions, which started this year.

The EU also has a similar policy to cut fleet emissions by 50% by 2030 compared to 2021 and a total ban by 2035.

You can argue that they may not need 80% EV sales to hit that 50% target and you are probably right but in reality, they can only do that with some fairly chunky EV sales in Western Europe because other countries in the block are probably not going to be adopting EVs at the same rate as those in France, Belgium, Luxembourg etc.

I can't see there not being some kind of concession made against the ZEV mandate. If not a complete pause / removal then a reduction in the percentage ramp up.

EDIT - or a continuation of allowing up to 75% of their credits being bought from other manufacturers.
Norway is 89%, Sweden is 58% and Iceland are 56% so it’s not like it can’t be done.
 
The EU also has a similar policy to cut fleet emissions by 50% by 2030 compared to 2021 and a total ban by 2035.

You can argue that they may not need 80% EV sales to hit that 50% target and you are probably right but in reality, they can only do that with some fairly chunky EV sales in Western Europe because other countries in the block are probably not going to be adopting EVs at the same rate as those in France, Belgium, Luxembourg etc.


Norway is 89%, Sweden is 58% and Iceland are 56% so it’s not like it can’t be done.
Those are plugin numbers though. I thought ZEV had to be full EV? If so you can knock about 40% off that value for Sweden and about 45% off the (miniscule) value for Iceland.
 
I watch a guy on Youtube who has a Porsche Taycan he bought brand new in Oct 21 for 120K
He tried to trade it in at a Porsche garage for a 911 but they refused as they already had a few Taycans in stock.
They did however give him a current value on his car £42000 :eek:
 
Cars with questionable fuel system are now being questioned due to lack of range and lack of holding their price given they need a new system every 10 years.
Who would have thought....

I watch a guy on Youtube who has a Porsche Taycan he bought brand new in Oct 21 for 120K
He tried to trade it in at a Porsche garage for a 911 but they refused as they already had a few Taycans in stock.
They did however give him a current value on his car £42000 :eek:
Mark McCann did a video on porche dealers lately, to get a GT3 RS, he had to buy 3 of the super pricey Taycans, all of them losing 75k just driving them off the forecourt.
 
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