Well one of the selling points of EV was they held their valve. Now you not only have normal depreciation but can find its value has dropped another 30-40%. That is a lot of money.
That's not what's happened though, they didn't have normal depreciation and then drop another 30-40%. They had almost no depreciation prior to 2022.
When I bought my Model 3 in late 2021, I could have bought a 2019 used model for over £38,000 or a new one for £42,000. Those 2019 Model 3's cost £37,500 to buy thanks to a government grant available at the time. Owners were literally selling them for more than they paid for them, for a mass produced car, that's not normal. I feel sorry for the people who bought them, they got screwed but I don't see how you think 0 depreciation is sustainable.
The above was replicated across the range of models available and that's why it looks like used values have crashed, its because they crashed from near zero depreciation to what a 3/4 year old used car probably should cost. Ev's are not exactly cheap either, hence the large drop in real £.
Well, the Porsche Taycan is a good example. Loads on Autotrader at 4-years-old around the £40-50k mark. That's one hell of a drop from the £80k+ they cost when new.
If you take an equivalent Porsche Panamera. We're looking at around £60-70k for a 2020 model V6 which cost £80k when new.
Tycan's are a bit of an oddity but normal for a new car to drop 40-60% in the first 3 to 4 years. Perhaps it is not normal for a Porsche but its, a normal every day 3 series rep mobile (which is what most EV's on the market represent), certainly.
R what’s the point. Doesn’t look the sort of house for 100k car buyer.
