EV Discussion thread

1961Nick

A 1-2 year old iPace looks like a lot of car for the money.

MeteredOut

1961Nick said:

A 1-2 year old iPace looks like a lot of car for the money.

I'd like to see some real life examples of 2nd-hand cars with those specs selling for those prices.

From a quick search, the price for 22 plate I-PACE on autotrader were around £35K-£37K, compared to the £31K on that article.

But, these falls are great for those looking to get an EV.

michaels

It is sort of interesting but not that relevant for any potential buyer who would want to know the depreciation of a like for like car over the year - ie how much have the cars lost from new to 1 year old and from 1 year old to 2 years old ideally compared to equivalent ICE cars?

Magnitio

The VW e-up and Seat Mii are amazingly good value. Excellent for ULEZ if you have charging facilities and really cheap to run.

1961Nick

MeteredOut said:

1961Nick said:

A 1-2 year old iPace looks like a lot of car for the money.

I'd like to see some real life examples of 2nd-hand cars with those specs selling for those prices.

From a quick search, the price for 22 plate I-PACE on autotrader were around £35K-£37K, compared to the £31K on that article.

But, these falls are great for those looking to get an EV.

I went straight there after reading the article. I found an approved used 71 plate for £27,900.

MeteredOut

1961Nick said:

MeteredOut said:

1961Nick said:

A 1-2 year old iPace looks like a lot of car for the money.

I'd like to see some real life examples of 2nd-hand cars with those specs selling for those prices.

From a quick search, the price for 22 plate I-PACE on autotrader were around £35K-£37K, compared to the £31K on that article.

But, these falls are great for those looking to get an EV.

I went straight there after reading the article. I found an approved used 71 plate for £27,900.

Yes, great value for a 2 year old car. But not £31K for the one year old/72 plate cars mentioned in the article.

Grumpy_chap

JKenH said:

All you Tesla owners will be pleased to see that Tesla has managed to escape the list of most depreciating EVs. The biggest faller has actually gone down 45%, not 50% as the headline suggests. Prices provided by CAP HPI are for one year old examples at the start of the year compared to one year old now. 

Are those cars with the plunges in value compared to new car list prices or new car actual selling price after any discount?

Is a comparison between January 2023 and December 2023 pricing for used cars particularly appropriate?  Is there any seasonality to take into account?  I understand that used car prices tend to bottom out in December and then peak in January.  Perhaps this is a sign of some normality returning to the car market.

Netexporter

I think the "adjustment" is mainly to do with the resetting of new EV prices, by the likes of the MG4 and the new Citroen EV. I think in a few years there will be a similar adjustment for ICE models, when EVs become the normal choice and manufacturers will become desperate to offload old-fashioned technology.

1961Nick

Grumpy_chap said:

JKenH said:

All you Tesla owners will be pleased to see that Tesla has managed to escape the list of most depreciating EVs. The biggest faller has actually gone down 45%, not 50% as the headline suggests. Prices provided by CAP HPI are for one year old examples at the start of the year compared to one year old now. 

Are those cars with the plunges in value compared to new car list prices or new car actual selling price after any discount?

Is a comparison between January 2023 and December 2023 pricing for used cars particularly appropriate?  Is there any seasonality to take into account?  I understand that used car prices tend to bottom out in December and then peak in January.  Perhaps this is a sign of some normality returning to the car market.

It's the drop in value of a 1 year old car that's covered 10,000 miles so it depreciation is factored out of the comparison. 1 year old cars are pretty rare on the used market as most new cars are retained for at least 2 years.

Historically, 35% first year depreciation is quite normal so it's actually the January 2023 values that are the outliers. There were also plenty of vehicles that would routinely exceed a loss in value of 50% or more after 12 months - Alfa 164, VW Phaeton are 2 that come to mind - so the used market for EVs has now normalised with the ICEV market.

JKenH

Something different (or maybe not) to pass your time while charging your EV in Lincolnshire 

Electric car charging station refused planning permission as locals fear it would become a hotspot for crime, sex work and doggers

Stuart Bremner, member of the Tinwell Rd Residents' group, said locals were mainly concerned about antisocial behaviour, 'particularly after dark' with fears of 'car doors banging, loud music, and undesirable behaviour in an unstaffed toilet block'.    

https://www.dailymail.co.uk/news/article-12874431/electric-car-charging-station-rejected-hotspot-crime-sex-work.html