EV Discussion thread

JKenH

Auto Trader: Used car prices UP AGAIN in February but EV prices continue to tumble

Comparing February prices to January, Auto Trader saw petrol cars go up by 3.3 per cent and diesel by 1.4 per cent.

However, the worrying drop in used electric car prices has continued with average used EV prices down -9.1 per cent.

Commenting on the drop in EV prices, Walker said this was largely down to a ‘huge overbalance’ of supply in the market.

Demand for used EVs has remained pretty stable, says Auto Trader, but at the same time the market has been flooded with electric cars.

For example, the volume of Mercedes EQA models has increased by 823 per cent year-on-year while the number of MG5s is up 918 per cent.

Walker added: ‘What’s happening in used EV prices is a natural consequence of a sudden and sharp increase in supply. 

‘Consumer demand has been dampened slightly by high energy prices in the last few months, but contrary to what some reports may suggest, consumer appetite for electric has far from fallen off a cliff. 

‘Availability and affordability have been major drivers in the success of some brands in the new EV market, so this increase in stock and the slight reduction in prices may well encourage more used car buyers to make the switch to electric.’

https://cardealermagazine.co.uk/publish/auto-trader-used-car-prices-up-again-in-february-but-ev-prices-continue-to-tumble/280076

Edit: More detail on this story

Used electric vehicle (EV) values are down -9.1% is £17,880 in mid-February year on year due to Tesla price cuts and oversupply.

The EV decline is in sharp contrast, to petrol and diesel cars up 3.3% and 1.4% to £16,266 and £16,326 respectively.

According to Auto Trader the EV decline is “heavily influenced” by the premium end of the market.

Premium EV brands have fallen by -13.1% to an average £43,762 compared to volume brands which have fallen -3.7% to £26,309.

Whilst demand levels for used EVs on Auto Trader remain stable – up circa 40% YoY – the rate of stock growth has rocketed, with current supply up 303% YoY.

https://www.motortrader.com/motor-trader-news/automotive-news/stock-surge-tesla-cuts-see-premium-used-ev-values-fall-13-february-20-02-2023

JKenH

Nissan Ariya EV price drops following Toyota’s massive electric vehicle discount in China

Nissan’s joint venture in China, Dongfeng Nissan, is showcasing the promotion on the front page of its website. The limited-time discount is good for up to 60,000 yuan (roughly $8,700) with a new starting price of 224,800 RMB (around $32,800).

The move follows Toyota, which dropped the price of its flagship electric SUV by 20,000 RMB ($4,300) last week, or 15% with a new starting price under $25,000.

https://electrek.co/2023/02/20/nissan-ariya-ev-price-drops-in-china-following-toyotas-recent-cuts/

Grumpy_chap

JKenH said:

Toyota’s massive electric vehicle discount in China

So, from that linked article, the BZ4X is from $25k in China.
How come it is from £45k in UK and has a horrendous wait time?  My brother ordered his in August and is currently hoping for April delivery
Even allowing for taxes and shipping costs, that is being sold at a significant uplift in UK.  You'd think that if they can sell at such an uplift in UK, the UK orders would be priority.

JKenH

Falling prices boost demand for used EVs in January

The massive price fall helped reduce Market Days’ Supply (MDS - Indicata’s measure of marketability, the lower the better) levels by approximately one third to 117 days in early February.

https://www.am-online.com/news/used-cars/2023/02/21/falling-prices-boost-demand-for-used-evs-in-january

JKenH

Should you buy an electric car? Owners reveal the REAL advantages and pitfalls of owning an EV – and what they wish they had known

https://www.thisismoney.co.uk/money/electriccars/article-11779683/Owners-reveal-REAL-advantages-pitfalls-owning-electric-vehicle.html

I am posting this as comments from 2 of our regulars (@Grumpy_chap and @Petriix ) feature in this This is Money article.

JKenH

Hyundai's low-cost, long-range sedan is shaping up to be a major pain for Elon Musk

For $45,500, buyers can get an impressive 361 miles of range, more than Tesla's Model 3 offers. 

https://www.businessinsider.com/hyundai-ioniq-6-price-range-versus-tesla-model-3-2023-2

JKenH

Volkswagen Group increases in-house development of EV components 

https://www.fleetnews.co.uk/news/latest-fleet-news/electric-fleet-news/2023/02/22/volkswagen-group-increases-in-house-development-of-ev-components

Looks like VW are developing their own version of the Octovalve.

Petriix

JKenH said:

Should you buy an electric car? Owners reveal the REAL advantages and pitfalls of owning an EV – and what they wish they had known

https://www.thisismoney.co.uk/money/electriccars/article-11779683/Owners-reveal-REAL-advantages-pitfalls-owning-electric-vehicle.html

I am posting this as comments from 2 of our regulars (@Grumpy_chap and @Petriix ) feature in this This is Money article.

Of all the things I've posted, they've really cherry picked a random point, totally out of context. Hardly surprising for that far-right publication. 

Grumpy_chap

JKenH said:

Should you buy an electric car? Owners reveal the REAL advantages and pitfalls of owning an EV – and what they wish they had known

https://www.thisismoney.co.uk/money/electriccars/article-11779683/Owners-reveal-REAL-advantages-pitfalls-owning-electric-vehicle.html

I am posting this as comments from 2 of our regulars (@Grumpy_chap and @Petriix ) feature in this This is Money article.

Well, that is quite incorrect to attribute the comments to Owners in the case of my comment.  I wonder how the other comments were validated?

JKenH

Petriix said:

JKenH said:

Should you buy an electric car? Owners reveal the REAL advantages and pitfalls of owning an EV – and what they wish they had known

https://www.thisismoney.co.uk/money/electriccars/article-11779683/Owners-reveal-REAL-advantages-pitfalls-owning-electric-vehicle.html

I am posting this as comments from 2 of our regulars (@Grumpy_chap and @Petriix ) feature in this This is Money article.

Of all the things I've posted, they've really cherry picked a random point, totally out of context. Hardly surprising for that far-right publication. 

Interesting that you perceive the Daily Mail as far right rather than simply right wing or right of centre. The Daily Mail is widely regarded as the most right wing of the dailies and the Guardian as the most left wing. Does that make the Guardian “far left”? 

People tend to read newspapers that reflect their broadly represent their own views. The Daily Mail has roughly 10 times the circulation of the Guardian.  Some might argue, therefore, that the Daily Mail is more representative of public opinion than a limited circulation newspaper like the Guardian. 

Have a look at this YouGov survey.

As part of the survey, we also asked Britons to say how left or right-wing they are themselves. Whatever their ideology, the public were broadly in agreement about whether a paper was left or right-wing, the main difference being that left-wingers tended to see right-wing papers as more right-wing than right-wingers did (and vice versa).

https://yougov.co.uk/topics/politics/articles-reports/2017/03/07/how-left-or-right-wing-are-uks-newspapers

It is quite normal to regard one’s own views as centrist and views that differ from one’s own as being extreme. Realising you are doing that is not always easy, particularly if you seek out and spend most of your time in environments that favour your views. I find it really interesting to hear alternative points of view. I may disagree with them but I can’t dismiss them out of hand simply because they don’t reflect my views. I also try not to put people into boxes. I may agree with you on something and disagree on something else. We can’t expect to have the same point of view on everything. You may even find some Daily Mail comments you agree with sometimes.