Battery Electric Vehicle News / Enjoying the Transportation Revolution

Martyn1981

Lots of numbers for World sales for May (not June). PEV's hit 16% of sales, with BEV's at 11% (10% year to date). The list of top 20 selling PEV's is, of course, heavily dominated by the Chinese.

World EV Sales Now 16% Of World Auto Sales

Global plugin vehicle registrations were up 50% in May 2023 compared to May 2022, rising to 1,057,00 units. In the end, plugins represented 16% share of the overall auto market (11% BEV share alone). This means that the global automotive market is firm in the Electric Disruption Zone.

Year to date, plugin electric vehicle market share was up to 14% (10% BEV).

Martyn1981

Looks like VW are getting really serious about trying to sell BEV's in China.

Volkswagen cuts ID.3 price in China - now starts from £13,400

The expanding Chinese market for electric vehicles (EVs) is still in the midst of a price war with the Volkswagen ID.3, produced by SAIC Volkswagen, seeing a notable 16% price cut. The popular electric model now starts at £13,400, dropping from its earlier price of £16,000. The price reduction is part of Volkswagen's effort to combat the intensifying competition and capture a larger market share in the world's biggest EV market.

paul991

if  could buy one at that price  I would.

scubajoe

paul991 said:

if  could buy one at that price  I would.

Join the queue 

scubajoe

https://www.thisismoney.co.uk/money/cars/article-12160659/Used-electric-cars-nosedived-value-2023.html

JKenH

scubajoe said:

https://www.thisismoney.co.uk/money/cars/article-12160659/Used-electric-cars-nosedived-value-2023.html

It’s largely due to an imbalance of supply and demand according to this article from CarDealer magazine, although it has not been helped by manufacturers cutting list prices and offering discounts on new EV stock which just weren’t available a few months ago. 

Experts say the decline has come due to the market ‘still maturing’ and ‘entering a new phase’.

Whilst consumer demand for second-hand EVs was up six per cent in June, it was been unable to keep pace with the sharp increase in availability, with supply growth up 174 per cent last month.

https://cardealermagazine.co.uk/publish/used-car-prices-rising-at-fastest-rate-this-year-despite-ev-values-continuing-to-plummet-auto-trader/286455

Also due to the chip crisis used EVs had been in short supply which had driven up prices just as people were turning to them to beat rising petrol prices. Over last winter electricity prices then rose and petrol and diesel fell meaning there was less incentive to switch. Huge numbers (relatively) of EVs started coming off leases just as the demand surge reversed and we had the perfect storm for EV values. I think the market has bottomed out at last. 

I have watched the value of the 40kWh Leaf (that I sold to my son in November) fall from over £20k in October to below £10k in March but it has recently bounced back up £1k to £10,405 today. The £20,680 I was offered by WBAC in October 2022 was far more than anyone could reasonably have expected for a 2.5 year old car that originally cost £23.5k. In a normal market I might have expected around £16k last year but then again I would have hoped that the car would now be worth more than the £10.4K at which it is currently valued.

There are some real bargains out there. I was very tempted recently by a low mileage BMW i3 Rex at a local dealer that was up for around 13k.

silverwhistle

I think a sensible second hand market for EVs is necessary for them to become more mainstream. There will be winners and losers as ever if you are put in the position of having to change a car.

You're right about the bargains; if I were going EV now I'd be buying second hand, as I always did before, but ~2.5 years ago S/H value was poor and I snapped up an MG ZS. Offered £600+ more than I paid at its second service and I was rather surprised to find myself in an MG4 a week later without having to transfer from my savings account! In eight years time I may become interested in its residual value..

orrery

silverwhistle said:

You're right about the bargains; if I were going EV now I'd be buying second hand, as I always did before, but ~2.5 years ago S/H value was poor and I snapped up an MG ZS.

The MG ZS is now being discounted from new. Here's hoping that this is the start of a 'normal' new car market in EVs, where manufacturers are discounting to compete.

Martyn1981

Looks like the Tesla Cybertruck is officially being produced. I'm only being careful with the wording, in case these are early production models for testing / staff ownership / or something like that. But maybe it is for a lucky customer.

So, just another 1,499,999 to go to meet the order backlog (or something like that).

Tesla Finally Builds First Cybertruck At Gigafactory Texas

You may not believe it, but Tesla has just announced that the first Cybertruck electric pickup has been built at Gigafactory Texas.

The automaker took to Twitter to make the announcement. "First Cybertruck built at Giga Texas!" reads the tweet, which is accompanied by a photo that shows enthusiastic factory workers posing for the camera with the first production Cybertruck in their midst. Elon Musk retweeted Tesla's announcement on his profile, writing "Congrats Tesla Team!"

We can't see much of the vehicle because it's surrounded by people, with the only visible bits being the glass roof, windshield with the massive wiper resting on the left side, truck bed, and side windows. From what we can see, though, the truck looks pretty much like the latest prototypes spotted on many occasions in recent weeks.

ABrass

It's an early production test. Probably what they hope is the final machinery but they will probably need a few months refinement before they're producing any salable cars.