Electric cars

[Jocko]

The world is full of naysayers.

[Westy36]

According to new data released by CAP Hpi, some people are suffering some major depreciation on their EV's.

Source: Cap HPI, August 2023 - Depreciation over the last 11 months!

    Seat Mii – down 50.3%
    Renault Zoe – down 44.2%
    Nissan Leaf – down 42.7%
    Volkswagen Up electric – down 42.5%
    Hyundai Ioniq electric – down 40.8%
    BMW i3 – down 39.9%
    Mazda MX-30 – down 39%
    Vauxhall Corsa electric – down 37.7%
    Hyundai Kona electric – down 37.6%
    Peugeot e-208 – down 37.1%
    Volkswagen ID.3 – down 36.3%
    Peugeot e-2008 – down 35.9%
    Citroen e-C4 – down 35.9%
    MG5 Electric – down 35.7%
    Fiat 500e – down 35.5%
    Vauxhall Mokka electric – down -35%
    Kia e-Niro – down 35%
    Jaguar I-Pace – down 34.4%
    Polestar 2 – down 34.3%
    Mini electric – down 33.9%

In £ terms, the figures are eye watering.

    Audi e-tron GT -£27,629
    Mercedes EQC -£20,275
    Audi e-tron Sportback -£18,929
    Jaguar I-Pace -£18,470
    Audi Q4 e-tron £17,363
    Tesla Model Y -£17,300
    Mercedes EQE -£17,175
    Audi e-tron -£16,158
    Mercedes EQS -£15,888
    Tesla Model 3 -£15,538
    Mercedes EQA -£14,808
    Volkswagen ID.3 -£13,328
    Ford Mustang Mach-E -£13,308
    BMW i3 -£12,739
    Volkswagen ID.4 -£12,053
    BMW iX3 -£11,600
    Kia e-Niro -£11,588
    Volvo XC40 electric -£11,550
    Hyundai Kona electric -£11,388
    Audi Q4 e-tron Sportback -£11,010

Ouch. Safe to say the bubble has well and truely burst. My wee Jazz is worth more than I paid for it 3yrs and 40k+ miles later. Lovely stuff. 

https://cardealermagazine.co.uk/publish/worst-offenders-which-used-electric-car-prices-have-crashed/289145

[Kremmen]

Similar story :

https://principia-scientific.com/do-we-have-a-major-problem-with-ev-depreciation-case-studies/

[Jocko]

The problem with these figures is the % numbers use one set of cars and the £ another. There are only a couple of cars on both lists. To me that shows an agenda at play.

[Jocko]

Depreciation sites state that the Jazz loses 50% of its value in 3 years. We know it doesn't. So how accurate are the rest of their figures?

[Jazzik]

Whatever the depreciation may be:

In August, 27,825 new passenger cars were registered in the Netherlands. How many of them had an electric powertrain? And how much a gasoline engine? And which EV registered the most units? AutoWeek dived into the numbers.

Of the nearly 28,000 new passenger cars that were registered in our country in August, 9,174 had a fully electric powertrain. This means that one third of all newly registered passenger cars in that month were EVs. This means that after cars with a hybrid powertrain, electric cars account for the most registrations. In August, 10,316 hybrid cars were registered, accounting for a share of 37 percent in the registration figures.

Source: https://www.autoweek.nl/autonieuws/artikel/een-derde-van-nieuwe-personenautos-is-elektrisch/
For the rest of the article: Google Translate is your friend

[richardfrost]

Depreciation vs common sense.

If you are buying an electric vehicle, with a view to helping reduce vehicular impact on the environment, you are missing something if you are considering replacing it at one year old!

Having said that, I notice that Jazz owners particularly seem keen in replacing their cars between 12 and 24 months!

My Jazz was registered in 2005 and my RAV4 in 2016.

[Jocko]

Depreciation is something I never worry about. I buy a car and run it till it dies. So every car I have ever bought has lost almost its total purchase price during my ownership.

[peteo48]

Depreciation vs common sense.

If you are buying an electric vehicle, with a view to helping reduce vehicular impact on the environment, you are missing something if you are considering replacing it at one year old!

Having said that, I notice that Jazz owners particularly seem keen in replacing their cars between 12 and 24 months!

My Jazz was registered in 2005 and my RAV4 in 2016.

I've been guilty of changing my cars too often although, this current one apart, the majority have been used. For a longish period at work I got paid to use my own car for some trips and I used this to fund frequent changes.

Nevertheless my approach was, quite simply, financially illiterate. I'll be clear - I regret doing it. The pleasure in having a new/different car was always quite short lived. The approach adopted by Jocko and Richard is far better both financially and environmentally. I also agree that people who buy new electric cars for environmental reasons are, as Richard says, spectacularly missing the point if they change these vehicles frequently.

Too late I have learned the errors of my ways and I am determined to keep this current vehicle for as long as I remain competent to drive.

[John Ratsey]

https://www.wnd.com/2023/09/evs-just-biggest-scam-modern-times/

Those are good examples of people not doing their homework before buying an EV. If, for 11 months of the year, an EV is charged at home using cheap electricity and used for daily driving well within the range of the battery under the worst conditions then that benefit might be worth the charging hassle incurred on the occasional longer trips.

[Westy36]

Read this today re Stellantis and electric vans. Such good news for the Ellesmere Port area, and a sign of Stellantis commiting to both the UK and Vauxhall.

https://www.smmt.co.uk/2023/09/electric-van-production-begins-at-ellesmere-port/

I do see a lot of DPD electric Nissan vans about. Perfect solution for short range delivery vehicles.

[Lord Voltermore]

Range is still the main obstacle for me.  Recent trip kent to Northumberland was about 350 miles.  We often drive further than this in a day.  Most EV's would need to make a significant  stop en route for a recharge.  By chance the historic  Inn we stayed at did have an EV charging point for 1 possibly 2 parking spaces.  It had Northumberland tourist board logos on it. 

During dinner  the overnight guests at an adjoining table were asked to move their  car off  the charger.  Mid meal,and having drunk some alcohol.    Inconvenient for him. the staff, and whoever needed the charger  . 

But one day.....

[Jocko]

During dinner  the overnight guests at an adjoining table were asked to move their  car off  the charger.  Mid meal,and having drunk some alcohol.

Anyone who leaves their car on a charger and then has a drink is a numpty.

[Jocko]

[John Ratsey]

According to new data released by CAP Hpi, some people are suffering some major depreciation on their EV's.

The lesson is that if you want an EV then look for a recent 2nd hand one.