Posted on 09/24/2023 10:21:05 PM PDT by fireman15
The average cost of second hand electric cars is plummeting by a “phenomenal amount” as they sit for “months on end” without any buyers. Research by online motor marketplace, AutoTrader, revealed the average price for a used EV has dropped by 21.4 per cent this month, compared to a year ago. Marc Palmer, the head of strategy and insights at AutoTrader, told MailOnline: “The used market will now be slower to mature. There will be fewer new EVs registered and fewer used cars coming to market. “There will be sections of the public, especially those who are sceptical, who will want to wait.” The expert explained that used cars are the “biggest” section of the industry, however motorists are likely to “take longer” in the switch to electric.
https://www.thesun.co.uk/motors/24099905/second-hand-ev-prices-falling-driver-lose-confidence/
According to the Mail:
Mid-month figures for September released by AutoTrader – the largest online marketplace for cars – reveal that the average price of a used EV has fallen by 21.4 per cent to £32,463.
Premium sector EVs, including Tesla, BMW, Mini and Mercedes-Benz, were hit hardest – with values falling by up to 24.1 per cent year-on-year.
The data, reported by The Times, showed that prices of second-hand premium sector EVs peaked at £51,704 last August and have since plummeted by more than £10,000 to £39,268.
https://www.dailymail.co.uk/news/article-12551439/used-electric-cars-price.html
The second hand EV is between a rock and a hard place!
Increasing numbers are now coming onto the market, corresponding to the increasing number of new sales in recent years.
Yet at the same time, there seems to be little appetite ffrom buyers. Most new EVs go either to Business/Fleet purchasers, or rich, virtue signallers. Neither sector is interested in buying second hand EVs.
(Excerpt) Read more at wattsupwiththat.com ...
"Acronym Finder" has 46 definitions! Wow. I liked "Plenty of Freaks," "Plenty of Fakers," and "People Over Fifty."
Your link is a deadend. Here's the correct link to The Free Dictionary - POF. It's got 51 meanings.
I always crack up when I read the dating site "Plenty of Fish." That really nails it.
My wife has an older lady that works in her department. Her two “medical professionals” daughters a dentist and doctor pushed her and her husband to buy a hybrid and they did. Well it’s time to replace the battery on a four or five year old car and the cost is $20K otherwise the car is fine and well taken care of but not worth $20K, so they are trying to trade it and they are offering them near nothing for it.
The lady told my wife, no more hybrids and no electric cars and those stinking covid shots are done as well, the girls can get over it, they were so wrong.
It could be that his employer is subsidizing the cost. If so, he can eventually expect the IRS to impute that as 'income', and he'll have to pay taxes on the difference.
Unfortunately, too late — they were all trashed.
That is too bad. I have tools for testing various types of sensors, and components. Most of the time you can find instructions on how to test them with multimeters and power supplies. but often the easiest way to figure out if a sensor is causing problems is to swap it with another that you have on hand. Chinese replacements often have a high percentage that provide inaccurate readings. I consider my collection of old sensors, relays, sockets and other electronic automotive tidbits to be important trouble shooting tools.
As an example, I had a weird problem where a car would not start after it was warmed up. I found that if I plugged an identical coolant sensor that wasn’t actually installed in the warm car it would start right up.
Ironically the problem began after I replaced a bunch of other sensors after my nephew had been fooling around with the car and it started getting bad fuel economy. He was unable to tell me what he had done to it that caused the problem. Both coolant sensors gave identical readings at the same temperatures so neither was the problem. I went back and started swapped out the other sensors one by one to try and figure out which one(s) were causing the problems. After farting around with this for a while I just put all the old sensors back in the car and it started running right again, but still with poor fuel economy. So, I went ahead and replaced the O2 sensors with different ones than I had installed previously, and it started getting better fuel economy once the computer adjusted the fuel trim correctly according to the new data it was receiving.
Frustrating and maddening, but you can see why it was good to have extra sensors on hand. You can easily test to see if an O2 sensor is bad, but determining if they are out of spec is more difficult.
Revolting.
Testing used lithium based battery packs is more complicated than you believe. I have many types of lithium based batteries. I have equipment for testing them. Sometimes it can be hard to tell which ones are close to failure. Meticulous record keeping is important, but even then cells just sometimes go bad. Depending on the architecture of the battery they can sometimes be repaired, but not always.
Even my phone has on board battery diagnostics. Surely an EV will as well? Can those be manipulated to show a good battery when in fact it's weak?
And most people would have a pre-purchase inspection (PPI) done by a dealer or reputable mechanic one should hope. Of course, there are always some really dumb ones out there, ripe for the taking. It's like Darwin in action.
Not arguing the point, but at least as far as degradation, I cannot see how a 80 kWh that has degraded to 55 kWh could ever put out more than 55 kWh if tested properly.
...of course your point is that if you get 78 kWh out of it, that does not necessarily mean that you’ve got a battery that will last many more years.
So testing buys you something, but not everything.
Holy cow. I knew exactly who you were talking about, but l looked it up. Wow.
Plus...you could open the hood, look down thru the engine compartment...and see the ground.
That's nice. However, it isn't that simple. If someone were to run a stop sign and total your car, their insurance will only be required to pay the current used value for your make, model, and year. Assuming you don't die a horrific death in the resulting lithium fire, these extremely low used market values mean that you will receive a much lower settlement. Lucky for you, you won't have any problem replacing it with another used electric car with a fully depleted battery.
If the battery has been improperly stored usually meaning that they have been left sitting and individual cells have become deeply discharged... sometimes they begin to give you more capacity after they go through a few charge/discharge cycles. But the rate at which they can be discharged or charged can also be affected. And often older batteries especially can just start having a greater number of cells going bad.
I was trying to find words to describe the intelligence of an EV owner, and was thinking along the lines of, “An EV owner is dumber than an empty sardine tin”, but my Christian charity prevented me from saying it.
4 l8r
True...but one must start somewhere!
You have a good idea... the only detail that you may not be aware of is that the data necessary to assess the condition of the battery is typically stored by most electric cars already. Batteries keep a record of the date their cells were manufactured that can be read by the device that is using it, a record is kept of charge/discharge cycles, the amount of power was used to charge the battery, etc... These records are important for assessing the condition of the battery.
You can see an example of this on your Windows laptop by following the steps below.
Perform a Windows Search for CMD or Command Prompt. You’ll see Command Prompt appear and the search results. Open it. Alternatively, you can find Command Prompt listed under Windows System in the Windows Start menu.
Once open, you’ll see a command line starting with C: and ending with the name of your user account. A blinking cursor will appear at the end of this command line. Type powercfg /batteryreport and press Enter on your keyboard.
If successful, the Command Prompt will tell you a battery life report was saved to your user folder.
This report does not tell you the date that your battery was manufactured but another tool in the UEFI (Unified Extensible Firmware Interface) OR BIOS (basic input/output system) usually does. The problem is that these records and tools can be altered by people with malevolent intentions.
Most modern electric cars have systems similar to a laptop with more advanced tools to monitor the condition of their battery. Of course, the cheap Chinese glorified golf carts may or may not have these types of monitoring systems.
If you want to provide the type of service that you have proposed, you would want to learn about all the tools that are available to you.
Very true. I’m not an expert on those batteries, but I’d certainly get some help if I did do that...but I won’t! Thanks for the info, and I did follow your steps to get a battery report on my computer - worked perfect, and the battery is still holding up fine!
Sounds to me that you have
zero intentions of visiting
the grandkids in Minnesota,
for Christmas..../s
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