EV Resale Value 50% Less after 2 years
EV Resale Value 50% Less after 2 years
.
Second hand EV prices are going through the floor, as nobody wants to buy them.
.
'The Telegraph has the story:
EVs are losing more than half their value in the first two years of ownership amid a wave of heavy discounting by carmakers.
A typical EV now retails at 50% of its value after 24 months, a sharp decline from 83% as recently as 2022, according to Cox Automotive.
.
For a new car bought for $40,000, this would translate to a value of just $19,600 after two years.
.
This compares with an average of 30% for diesel and petrol cars.
Full story here.
.
Certainly, heavily discounted new car prices must push down second hand prices, but that is a long way from being the whole story.
I have made some checks on the Vauxhall Mokka prices via Carwow.
They come up with the following current prices for the basic electric and petrol versions:
Electric Mokka:
List – £32255
Discounted – £25747
Second Hand, 3 Years Old with 30,000 miles – £10995
Depreciation from Discounted Price – 57%
Petrol Mokka:
List – £25740
Discounted – £22572
Second Hand, 3 Years Old with 29,000 miles – £15640
Depreciation from Discounted Price – 31%
.
The prices broadly back up the Telegraph’s, which are set against 2 year old cars.
The second hand prices are also the buyer price, not the trade in value.
.
But what is astonishing is that drivers would rather pay £5000 more for a second hand petrol car than the electric equivalent.
That has nothing to do with “discounted new prices”, as the new electric remains more expensive in that regard.
.
There is obviously a glut of second hand EVs beginning to come on to the market, which will depress values even further. But there is little appetite amongst potential private buyers.
.
Obviously there is the longer term issue of battery life, but surely this won’t be in the minds of people buying a 3 year old car.
.
On the contrary, it is pretty obvious that very few drivers actually want an EV.
One particular issue for the second hand market is that many lower income drivers have no off street parking, meaning they cannot charge at home.
.
All of this is a huge, flashing warning sign for anybody considering buying a new EV – don’t expect to get much money back for it when you trade it in!!
.
!!!!!!YOU HAVE BEEN WARNED!!!!!!
Views: 8
Comment
-
Comment by arthur qwenk on Sunday
-
Go Woke, Go Broke.
EVs, a bad Idea whose time has passed.
Maine as Third World Country:
CMP Transmission Rate Skyrockets 19.6% Due to Wind Power
Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.
Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT
******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********
(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/
Not yet a member?
Sign up today and lend your voice and presence to the steadily rising tide that will soon sweep the scourge of useless and wretched turbines from our beloved Maine countryside. For many of us, our little pieces of paradise have been hard won. Did the carpetbaggers think they could simply steal them from us?
We have the facts on our side. We have the truth on our side. All we need now is YOU.
“First they ignore you, then they laugh at you, then they fight you, then you win.”
-- Mahatma Gandhi
"It's not whether you get knocked down: it's whether you get up."
Vince Lombardi
Task Force membership is free. Please sign up today!
Hannah Pingree on the Maine expedited wind law
Hannah Pingree - Director of Maine's Office of Innovation and the Future
"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."
https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/
© 2025 Created by Webmaster.
Powered by
You need to be a member of Citizens' Task Force on Wind Power - Maine to add comments!
Join Citizens' Task Force on Wind Power - Maine