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13th March 2024, 11:21 | #1 |
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EV depreciation
Hi,
Just read this in "This is Money". Interesting but I haven't found what depreciation is for each model in year 1, year 2 ect., ect. It may be similar to ICE vehicles but I'm not investigating that . The article states that dealers are more reluctant to take in EV models in p/e at the then time (?). Dunno if this has changed. BIGGEST USED EV PRICE FALLERS OF 2023 (30 to 11) 30. MG ZS EV (2019-present) - down 31.3%/£8,056 =28. Audi e-tron GT (2021-present) - down 32.4%/£30,529 =28. Audi Q4 e-tron (2021-present) - down 32.4%/£16,683 27. MG5 EV (2020-present) - down 34%/£8,125 26. BMW i3 (2013-22) - down 34.3%/£10,028 25. Kia e-Niro (2018-23) - down 34.5%/£10,888 24. Hyundai Ioniq 5 (2021-present) - down 34.7%/£14,845 23. Honda-e (2020-present) - down 35%/£9,600 22. Hyundai Ioniq (2019-23) - down 35.9%/£8,650 21. Polestar 2 (2019-present) - down 36.1%/£15,995 =19. Fiat 500 Electric (2020-present) - down 36.1%/£8,150 =19. Audi e-tron Sportback (2019-23) - down 36.1%/£20,792 17. Volkswagen ID.3 (2020-present) - down 36.4%/£12,409 16. DS3 Crossback E-Tense (2019-pres) - down 37%/£9,175 15. Peugeot e-208 (2019-present) - down 37.1%/£9,295 14. Hyundai Kona (2018-present) - down 38%/£11,275 =11. Mini Electric (2019-23) - down 38.4%/£10,842 =11. Citroen e-C4 (2020-present) - down 38.4%/£10,013 =11. Peugeot e-2008 (2019-23) - down 38.4%/£10,720 =10. Lexus UX (2020-present) - down 38.7%/£13,463 =10. Renault Zoe (2019-present) - down 39% 9. Vauxhall Corsa-e (2019-present) - down 39.3% 8. Mazda MX-30 (2020-present) - down 40% 7. Nissan Leaf (2017-present) - down 40.2% 6. Jaguar I-Pace (2018-present) - down 40.4% 5. Vauxhall Mokka-e (2020-present) - down 40.8% =3. Mercedes-Benz EQA (2021-present) - down 41.2% =3. Mercedes-Benz EQC (2019-present) - down 41.2% 2. Volkswagen e-Up (2013-2022) - down 42.7% 1. Seat Mii Electric (2019-2022) - down 45.6% The article author provides confusing information. Take the Leaf as an example:- Average used price start of 2023: £24,775 Average used price end of 2023: £14,861 2023 price fall: £9,914 But the used value of a Leaf has fallen dramatically than most other EVs. At the beginning of 2023, a year-old model with average mileage would have cost £24,775 but fast-forward to December and the used prices for a 12-month-old example have slipped to just £14,861 - deflation of 40.2 per cent, or almost £10,000. So, does that mean the car is one or two years old? I say this as the author is saying the car is 12 months old at December 2022/January 2023 and the depreciated price is based on a vehicle 12 months old at the end of 2023 (December?). Is it just me that is somewhat confused? Of course these figures and stats may be an aberation an I'm not believing that it is for always. However, just shows the consumer is forever being shafted. Kev https://www.thisismoney.co.uk/money/...half-much.html Last edited by torque2me; 13th March 2024 at 13:09.. Reason: missing text |
13th March 2024, 12:08 | #2 |
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Your last comment........... how true. The manufacturers are screwing those who buy ‘new’ vehicles as they have always done. My motto has always been...... to-never buy a new car. I would love an Aston Martin, but even if I won millions on the lottery, I would not buy new. Waste of money, and an’ I am better than you’ jibe towards us second hand lot. Long may we rein.
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13th March 2024, 12:28 | #3 |
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Early adoption of technology!
The dynamic associated with EV depreciation applies to all early adoption of technology and of course luxury car depreciation in general.
Anyone interested should take a look at price dynamics of early digital cameras, OLED TV etc. This is nothing new. Also, as someone who does indulge in early adoption of some technologies, and comes from a family that is on its second high-end EV, I have to say that none of us regret any of our buying decisions. Do we feel that we are in some way better than the scrap-value banger brigade? Yes, all the time, but only because my 75 is worth a little more in scrap than many others of a similar age because of how it has been looked after and my other scrap value car, the Omega estate, is now over 20 years of age. Anyone wanting to get a feeling for how EV owners appreciate their purchases should join an EV forum!
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13th March 2024, 12:30 | #4 | |
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14th March 2024, 10:33 | #5 |
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The used car market is set for a huge change in the upcoming years, This report by CoxAutomotive is an interesting read of the changes ahead. https://www.fleetnews.co.uk/news/fue...in-three-years
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14th March 2024, 12:51 | #6 | |
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14th March 2024, 13:05 | #7 | |
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20th March 2024, 14:04 | #8 |
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I'm not a political animal so don't shoot me, watching Fox news this morning, it seems the Chinese are buying vast tracts of land in the USA to build plants to manufacture batteries for ev's. A township (I forget which) has refused planning permission and so the company is suing them. Or trying. The proposed EV take up in the US is 67%, the actual take up is 7% . Americans aren't buying the stories. Makes one wonder how much Chinese influence is involved in our government decisions?
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20th March 2024, 19:19 | #9 | |
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21st March 2024, 07:35 | #10 | |
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