EV Depreciation 2023

Competition and interest rates.

Q4 is always lower total car sales than in Q1 in Europe. In Ireland the figures would be way more skewed again towards Q1 than those figures.

Funny enough, in China it's the other way around with Q4 traditionally being the best quarter. That's how BYD sold more EVs than Tesla (worldwide) for the first time in Q4, 2023. Overall for the year, Tesla was higher. 2024 could possibly be the first year that BYD wins, but it would be close. Obviously the average value of a BYD EV is far lower than a Tesla EV.

You literally said

"...It's unclear why this happened. Supply was not an issue..."

It's not unclear.

Be interesting to see how the shipping issue effect it.

What it means it's every car is selling less. So it's not outlier its literally the best selling car.

If we're are looking it at manufacturing point of view sweeping generalisations aren't that useful. Because VAG group is entirely different to Tesla is different Toyota.

By that I mean each manufacturer is very different position financially.

by that logic Toyota have a demand issue for their many models then?

if the rav is the answer to everyone’s needs why isn’t that the best selling car

It depends what is important to you. I think the Born is much nicer inside and with general better quality materials. IMO the Cupra is likely to be more robust also with less wear and tear with ageing. Will be easier to trade as well I'd imagine. If its all about cost - then the MG4 probably wins out.

Born seems to be €36,695 with an option of either €2,000 off or 0% PCP in their sales event from 12th-20th advertised on their website. I'm now torn between that and a Model 3, which I've had my eye on for some time.

Asking prices for the Born's on DoneDeal have lots of catching up to do if they ever want to sell.

I looked at both MG4 and Born (and ID3) early last year.

MG4 was 35k (Exclusive LR), Born was 43k at the time, don't remember the name of the spec but it was a slightly smaller 58kw battery IIRC.

I couldn't make any reasonable case for spending 8k more on the Born. Exclusive trim of MG4 has all the bells and whistles I need, 360 camera, electric heated seat, heated steering wheel, etc. Basically seemed to have all the same gadgets as the Born.

We have a Born in work now that I use a few times a month, and I can't see where the extra 8k goes tbh. Both cars even have some similar software "quirks"/irritants.

The ID3 was even less worth the difference imo.

What difference does it make if Toyota has 27 models? You're not comparing Toyota vs Tesla.

Simply looking at whats selling. Its nonsense argument that the best selling car is struggling to sell.

Though tbh I'm not sure what point some people are trying to make.

I was quoting the tweet.

the point that the tweeter was making (a massive Tesla fan), is that if theyre producing far more of a car than they are selling, and stock is piling up, and the Berlin factory stopped for a week, it’s a pretty obvious demand problem.

it doesn’t mean they can’t sell them at all - it just means the huge number of sales is not as huge.

being the biggest selling car is immaterial - tesla make 2 cars, and the Y outsells the 3 by about 2 or 3:1, so it can’t really afford have a demand problem in Europe ever

There's not enough information on that post to deduce much. The European car market registration is loaded towards the front of the year, with the most registrations in March. The fact that Tesla's sales slide across the year is not that surprising in that context.

The other thing to consider is that the model y has a refresh incoming, so this will impact sales.

The only real problem that has been identified is the resultant excess inventory. If they are holding half a quarters worth of stock, there are obviously missed sales expectations. The interest rate environment has to have played a significant part in this, but you can't dismiss emergent fears around EVs: their range and long term value proposition as having not also played a part too.

Its been reported that Tesla were chasing the same rate of sales growth. They didn't achieve it. But then many didn't.

For sure it seems they’ve the same over-production issues all car manufacturers have for EVs.

It's not just EVs...

While all the media is focused on EVs you can see in UK sales it's hitting UK market across ICE as well.