Electric vehicle depreciation

sidimmu said:
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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Sounds like the sales model for purchasing a luxury watch :p

You know what though, that could work a treat for the market as a whole. "You want to buy a 2.0 TDi Golf Estate? OK, what you need to do first is buy two iD3's...."
 
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sidimmu said:
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....


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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So basically only for people with far more money than sense.

Also to inflate the sales figures of EVs.
 
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Nasher said:
So basically only for people with far more money than sense.
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More money than sense, but are these the same people who will go off on users on here for suggesting they wont move to an EV?

As frankly EV cars are pointless to myself and my job, I'll have to spend an extra hour out of home each day to charge the sodding thing.
 
silverblack said:
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:
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Probem is the bubble has burst on the shortage of taycans. Last month when I looked there were over 100 brand new unsold Taycans for sale at Porsche dealers all with £20k+ off list price. So that guy on youtube will have aid full retail at £120k whereas the same spec new one will now be only £95k. So he has lost £25k there for starters.

Sucks but thats what happens if you buy when there are no discounts available.
 
Chasing the market down...

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JonRGV250 said:
lol, absolutely terrifying if you’re a private owner.
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but absolutely brilliant for those looking to get on the horse now 2nd hand.
I get it it sucks for those who bought for a high price (and to a point i am sort of one of them) but there is some serious goal post moving going on here.

2 years ago "I dont want an EV, even 2nd hand they are too expensive to get something with a usable range".

today "I dont want to buy a 2nd hand EV, just look how much value they have lost from new".

I get the argument that buying a new EV outright is a mugs game (I feel the same way about ALL cars but its more so for an EV) but if you are buying 2nd hand i just dont see why that matters............. and these sweet lease deals are still available so hopefully there will still be a steady stream of 3 year old ex lease cars coming to market.

hell, if its true about the taycan prices, maybe one will grace my drive one day (though purely on looks i will be keeping an eye on the Electre to see if that does the same as I do love the look of those - the mrs can have the ipace i will take the Electre :D )
 
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bigmike20vt said:
I get the argument that buying a new EV outright is a mugs game (I feel the same way about ALL cars but its more so for an EV) but if you are buying 2nd hand i just dont see why that matters............. and these sweet lease deals are still available so hopefully there will still be a steady stream of 3 year old ex lease cars coming to market.
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There has to be a cut off point though. Lease companies won't swallow up big depreciation hits. Their model is a simple one, depreciation + expected profit = cost to end user.

At the moment for many that cost is somewhat skewed by BIK incentives so while they are still in play there will still be a demand but it doesn't necessarily bode well for the long term.

I can see why people are still reluctant to take the plunge second hand, take that Polestar for example. It's depreciated heavily yet it is still £27.5k. OCUK forum CEO's and chief swinging appendages aside, for normal folk that is serious money. Money they don't want to risk evaporating by half in a year or two's time.
 
I can see why that Polestar has never sold, even now it’s a good £5k above the market price.

Cazoo have a similar poverty spec Polesestar 2 listed for £22k, only 8k miles on a 22 plate in white.

The car was never worth the price being asked and you wonder why it is still for sale….
 
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lordrobs said:
There has to be a cut off point though. Lease companies won't swallow up big depreciation hits. Their model is a simple one, depreciation + expected profit = cost to end user.

At the moment for many that cost is somewhat skewed by BIK incentives so while they are still in play there will still be a demand but it doesn't necessarily bode well for the long term.

I can see why people are still reluctant to take the plunge second hand, take that Polestar for example. It's depreciated heavily yet it is still £27.5k. OCUK forum CEO's and chief swinging appendages aside, for normal folk that is serious money. Money they don't want to risk evaporating by half in a year or two's time.
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I am torn here... i guess i can see your point if you get through a lot of cars.

but i am 48 years old and currently only on my 7th car, and 3 of those ran concurrently

2 of them i only got rid of because were written off , one of them my wife took in our divorce settlement and one of them was a 2 seater that i didnt want to sell but had to

For those who keep their cars for a long time, it kind of doesnt matter how much it drops by, if the car is worth £25K to you now and ticks all the boxes you need it to tick then, maybe the answer is to buy then just not look at prices again.
I get it tho, my car depreciated 9k in 7 months despite me buying it 2.5 years old at half price and that does sting a bit.............. but ultimately the car was worth to me what i paid for it at the time, and the car has not changed just because its price has dropped - it just means someone else gets an even better deal than i did.

also consider, the only reason the cars are so cheap is because of supply and demand. there is currently a LOT of similar cars at end of lease flooding the market. presumably even if you do decide to sell and the car has dropped a bit, other cars around it will also have dropped, so even if you do change your car because you are bored and want a change, it means the car you are looking to buy will also be cheaper as well.

I always go into buying a car with the idea that it will be worth next to nothing when i get rid. Anything i get for my cars when i sell is a bonus.
 
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bigmike20vt said:
I am torn here... i guess i can see your point if you get through a lot of cars.

but i am 48 years old and currently only on my 7th car, and 3 of those ran concurrently

2 of them i only got rid of because were written off , one of them my wife took in our divorce settlement and one of them was a 2 seater that i didnt want to sell but had to

For those who keep their cars for a long time, it kind of doesnt matter how much it drops by, if the car is worth £25K to you now and ticks all the boxes you need it to tick then, maybe the answer is to buy then just not look at prices again.
I get it tho, my car depreciated 9k in 7 months despite me buying it 2.5 years old at half price and that does sting a bit.............. but ultimately the car was worth to me what i paid for it at the time, and the car has not changed just because its price has dropped - it just means someone else gets an even better deal than i did.

also consider, the only reason the cars are so cheap is because of supply and demand. there is currently a LOT of similar cars at end of lease flooding the market. presumably even if you do decide to sell and the car has dropped a bit, other cars around it will also have dropped, so even if you do change your car because you are bored and want a change, it means the car you are looking to buy will also be cheaper as well.

I always go into buying a car with the idea that it will be worth next to nothing when i get rid. Anything i get for my cars when i sell is a bonus.
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I'm really the wrong person to comment on car depreciation. I'm on car number 4 and have 'lost' just over £8k in depreciation in 24 years but my circumstances and buying pattern are far from the norm!

I've always bought with the mindset of zero retained value when I come to move on BUT my most expensive purchase ever was £6.5k (£10.4k in todays money adjusted for inflation). Over £20k I'd want some confidence that if my circumstances changed next week I'd be able to release a decent chunk of equity.

On the other hand, it's a bit like house prices. Everyone got excited when their car was worth loads during covid times but you only see that gain if you sell it and replace it with shanks pony.
 
Polestar is a bit of an exception (but maybe premonitory of other brands who want a slice of europe) with the questions about 'company' future funding and redundancies -
how are the polestar 3 books looking.
 
Greebo said:
Its not just EVs though. Almost every R8 on autotrader has dropped £2k per month. And they are only £40k cars now anyway so they are dropping 5% per month
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Oh I know.
I spent far too long as a salesman for Audi & Mercedes.
I've seen people go every colour of the rainbow when giving a valuation on thier cars.
 
Brand new:

MG ZS EV Long Range £33k​

I have found a 2022 model for sale for £19k on AA used for sale page: https://www.theaa.com/used-cars/cardetails/37-3373814​


Mokka-e brand new are £36k
On auto-trader there are the following: (there are many more also)

£13620 - 2021 model with 27k miles
£14657 - 2021 model with 13k miles
£15657 - 2022 model with 22k miles
£16700 - 2022 model with 4.5k miles


Kia EV6 brand new £45k
Used on auto-trader
£25k - 2021 model with 44k miles
£28k - 2021 model with 7.5k miles
£29k - 2022 model with 11k miles
£38k - 2023 model with 8k miles


This should give you some ideas.
 
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