EV Depreciation 2023

Sweet divine. Your sharp wit has me beat. I admit defeat, you win. Fair play. Let’s now move on.

I agree. I assume if I went onto a religion forum and gave logical reasons why there is no deity the feedback would be the same.

i assumed with this was a thread about the market, market forces rather than religious fervour would be discussed.

It’s clearly also a Hybrid forum by the way!

And no one feels strongly about a Camry.

Electric F150 are not the barometer of demand. Model Y was the best selling car in the world this year. Not best selling EV and not best selling car in EU or something. Best selling in the world. No car sold more than the model Y. Even more than the US favorite Camry and Corolla too I might add.

Only back here now - I was the OP about the rights or wrongs of asking/giving a charge at someone’s house - thanks for all the perspectives, I just still maintain it’s an early adopter mindset, and not a mass market one. Of course you’d all gladly let someone else use your charger, it’s the nature of early adopters of anything to help each other.

This whole thread is predicated on the fact that EVs are struggling to convince the mass market buyers to follow the early adopters, and ‘domestic destination charging’ is one such obstacle I think.

(that, or maybe I go to too many high society candlelight suppers and don’t want to be running a granny charger in the window of their gate lodge 😛😀)

Sorry, increasing at a lower than expected rate. It’s still a demand issue that’s the point.

Credit to Tesla mind you, but they do have a demand issue or else there would not have been price cuts.

You dont have to buy an EV and try it to know the network isn’t great - just read posts here and on Facebook etc or talk to other owners- however I’m not sure that the network is responsible for the high depreciation:

High depreciation is down to imo:

Cars originally costing too much - ie overpriced priced for early adopters. Cars priced well new hold their value well used (eg Ioniq 28)

Other issues impacting to lessor extent:

Concern (right or wrong) over the huge cost of battery or motor replacement on an out of warranty

Quality issues with many EV’s rushed to the market originally

Buyers expecting further price reductions on new cars

Dealers general disinterest in EV’s. Few dealers will accept EV’s made by other brands

Buyers not willing to buy expensive EV’s privately - but tonnes of private buyers trying to sell privately

Perception that charging network isn’t good enough

High cost to charge in public

I would buy a Tesla Model 3 (in white) or a new ID4 facelift and expect both of them to hold their value really well as they are both good value for money now. Megane or E-Tron will see big depreciation as they are still overpriced

I can see in 2030 all the big car manufacturers putting pressure on the EU to push the 2035 deadline out. We have already seen VW saying they can't make a profit from EVs... I hope I'm wrong of course

I agree completely- but again we’re back to the problem of almost all EVs available today needing to charge ‘somewhere’ for what is only 350km/3-3.5hrs of total driving, 90% easy motorway cruise at 120, and a nice long break in the middle. That’s early adopter stuff - there’s no way the mass market would swallow it.

let me put it this way - imagine all garages selling EVs were advertising the real world Irish winter ranges for city, rural and motorway - how would sales go? (Purely hypothetical of course, but e.g there’s a lot of 3-4yo cars in the 2nd hand market advertising their (brand new) wltp summer urban range, when clearly ‘battery science is a thing’.

that’s the juncture we’re at now. Early adopters have their cars, and all the mass market are hearing is that those cars aren’t getting close to their advertised ranges.

Take the base model 3. 40k new and real world range of 300-350km winter to summer.

I don't think we will have many cars that don't need to charge after 350km of real world motorway driving. Most people don't drive those trips.If you did that every day, you are spending one full 24hr day per week driving. Simply not realistic apart from edge cases.

The cost to add more batteries to give the model 3 (or other cars) enough battery to do 600-700km of real world driving simply doesnt make sense. The best range currently available is the 500-600km of the Mercedes EQS (as well as Lucid and cadillac models not available here) and all 3 are well north of 3X the price of the model 3.

The model 3 can do 300km on the motorway, stop for 15-25 minutes and do another 200-275. I know, because I do it. In mine, very occasionally and in all weathers. I'd much prefer 1-5 stops per year with 60k plus not spent on a bigger battery!

This thread is about the mass market adoption of EVs in Ireland, not the sales to early adopters world wide.

toyota don’t seem to be doing too badly at the moment either, and seem happy that their early call on EVs struggling to go from early adopter to mass market (for the time being), was the right one.

indeed, production cuts for virtually every EV on the plant would seem to back that up.

People here have also predicted the ‘fall of the OEMs’ for about a decade here btw - I’m not being a d1ck, but let’s at least have an honest debate that EVs have gone from the hottest new thing, into a definite state of flux - which brings us back OT regarding EV depreciation of 2nd hand EVs and the fact that the mass market 2nd hand buyers very clearly don’t want to pay the piper, and a lot of early EV adopters are left holding a car which they love but has cost them far more than expected in total cost of ownership.

Absolutely - but what’s that phrase about “common sense not being common”.

we always forget that this is a motoring forum, representing the perhaps 2-5% of drivers who would considering themselves ‘car people’.

everyone else just wants a car to do what they require and couldn’t care less about what propels it

but the car will do what they require if they stood back and thought about it 😁

i disagree, you could be correct if our straw person is opting out of the car market at the end but if they are going into another car then i could well be correct.

@sk8board - "This thread is about the mass market adoption of EVs in Ireland, not the sales to early adopters world wide."

Indeed. Ireland is as always a bit behind. But not that far behind. It is a certainty we will catch up. But it might take a year or two.