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 ...
Out and out lie. Defies the laws of physics.
I’m not “skeptical, who will want to wait”. I know EVs are enslavement and not in my best interest and I never want one. I will keep our gasoline vehicles as long as possible. The limiting factor will be when the government bans the sale of gasoline.
Nice thing about gasoline is if 20 years in the future there are fewer gasoline stations, I can carry a bunch of 5 gallon cans to augment my range.
Assuming we used the Southern California Edison time-of-use Prime rate plan, a 2022 Ford Mustang Mach-E RWD with the extended battery, which is rated at 35 kWh/100 miles, would cost as little as $3.85 for 50 miles’ worth of power if home charging started at 11 p.m. Or it could cost nearly three times as much, $9.45, if the car charged during peak hours.
Hey maybe go of courses can use them as the glorified golfcarts they are. Sound systems, infotainment systems, air conditioning. A little heaven for the grass though.
Given the massive subsidies to the Climate Change™ movement and its idiotic "zero carbon" and "zero emissions" claptrap, one is seeing "the market" -- thousands of "free" individual buying decisions -- setting the reality of the EV market, used and new alike.
From the metaphor of moral philosopher Adam Smith forward, the notion that an "invisible hand" may be seen at work in a marketplace has a long history of proving notions of free market and market corrections, when confronting enforced markets and skewed values.
It is important to recall that liberty is, in part, about markets and consumers as well as other modes of societal interaction. Ergo, moral.
Who wants to buy a phone with a weak battery?
You are a smart man, run it til the battery dies.
It’s wonderful that you can self sustain your home and your EV. It’s also nice that you can afford to install solar, buy an EV and an ICE vehicle and I assume install a charging station? Most folks can’t. People would have to go into huge indebtedness to do all that. How about those that live in the country? Also how about an EV in say a hurricane? We were without power for a week after Hurricane Idalia. The nearest charging station to us is like 25 miles away. Wouldn’t do us any good unless we wanted to use the power of the EV battery to keep running to the charging station. Not feasible. If folks in a city want their EVs...they should go for it. If someone doesn’t, especially in the rural areas, they should have to or be forced to.
Read an article about EV battery fraud. Some people are changing out good batteries for weak ones, then selling the car to unsuspecting buyers.
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You might be referring to this... posted a few days ago.
https://freerepublic.com/focus/f-chat/4184539/posts
I see EVs as having two primary, and critical problems, with other serious problems as well.
1. They pollute the planet, and massive megabillion dollar SuperFund cleanup projects will happen within a few years.
2. Once the monopoly of electricity is a primary energy source for transportation, prices will skyrocket.
Of course, there is the silly inconvenience charging thing, the fire problems of not being able to put them out, the electrical hazards in crashes, and other issues.
Here's what the #'s look like for me, pretending for a minute I don't have solar.
In my last power bill I was charged 16.69¢/kWh. This is after my power utility added in the riders on top of the stated 12¢/kWh amount, plus 4% state tax. In other words, for every extra kWh my EV added to my power bill it cost me 16.69¢/kWh (pretending I didn't have solar providing most of my power). This is higher than the average over the past 12 months, but I'll go with it anyway.
Our EV crossover gets 3.4 miles/kWh with our driving habits and A/C use. It actually gets more miles/kWh than that for local driving (charging at home) because the 3.4 miles/kWh includes interstate driving 80mph (road-side charging, which doesn't add to my power bill). But I'll go with the 3.4 miles/kWh.
We drive 26K miles per year in the EV, with about 22K to 23K of those miles charged at home. I'll go with 22K miles charged at home.
Thus, to charge the EV to drive 22K miles it cost $1,080: which I derived from (22,000 / 3.4) X $0.1669. With gas at $3.30/gallon that $1,080 would buy 327 gallons of gas. Even if a new ICE crossover gets the stated 30mpg, that'd cost $2,420 in gas: (22,000 / 30) X $3.30. And these are with my pessimistic EV numbers (my EV gets more miles/kWh for local driving, my power rate in the past month was higher than the average for the past year) vs optimistic ICE numbers (do ICE crossovers really get 30 mpg?).
Now obviously these are Alabama #'s for power rates and gas. I don't know about rates in other areas. And this doesn't get into things like if you're single (read: need just one car) it's probably unwise to depend solely on an EV. Or if you live in an area with lots of cold weather. Or if you can't charge at home. Or if most of your road trips are in areas with poor charging (which would mean taking your ICE car, which in our case is an old pickup we'd rather not take on long trips unless it involves pickup chores), or if both of your cars are in good shape and it's a bad time to spend money on a car, etc. But if someone meets all the personal parameters above and drives at least 15K miles per year (assuming we one day go back to Trump's good gas costs of year 2019) or at least 12K miles per year for today's stupid Dim gas prices, then an EV is worth looking into.
you plug it into a 220 volt outlet at night
How many of those do you have? I only have 2. One for the stove and one for the dryer.
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You buy a 30-40ft extension cord that is suitable for 220volts. When you are not charging your plug in hybrid, you unplug that extension cord. Just to be safe. Or you hire an electrician to extend your 220 volts to an outdoors, weatherproof socket.
220 volts is a slow charge for hybrids and EVs so will extend battery life. Fast charging wears down batteries quicker. Fast charging is what you find ai public charging stations, and in home charging stations, which probably have a slow charging option too.
MythBusters would have great time with EVs , lots of explosions
You win the thread's Best Post of The Day!
“I payed $3,200 for my 1997 ford ranger ten years ago. Runs like a top, i can do most upkeep myself. I think i’ll keep it.”
But what would you buy if you were given 30-50 thousand dollars that you could only spend on a truck or car? These new huge double cab pickup trucks I see everywhere are minimum $50,000. Most are on payments 5-8 years. Plus your wife won’t have sex with you if you buy and come home with a single cab truck. Which for all I know, you can only buy used these days.
It’s wonderful that you can self sustain your home and your EV. It’s also nice that you can afford to install solar, buy an EV and an ICE vehicle and I assume install a charging station? Most folks can’t. People would have to go into huge indebtedness to do all that.
If you want details on how I avoided most of the up-front costs it's at https://freerepublic.com/focus/news/4127577/posts?page=51#51. The numbers are a bit out of date. For example, instead of being out of pocket $3,200 I'm now at the point where's the net savings in my cash flow is $2,900 (which means $2,900 more that has stayed invested in our Roth IRAs). When the EV is paid off 3 years from now, my net cash savings will be $6,600 (assuming 3% inflation rate in gas and power rates). At that point the solar tax credit refunds will be done, but the $850/month I was paying anyway in year 2019 (for power bill + natural gas bill + gasoline at the pump + $400 to a car savings account) will quickly pay down the HELOC.
3 years after that I'll resume putting $400/month into the car savings account for eventual car repairs (most notably battery replacement not that I have an EV, which in today's prices would be $11K for my EV, I'm sure inflation will make it more). Thus I'll be using only $450/month to make the HELOC payment + tiny power bill. And that'll easily keep paying down the HELOC because the HELOC balance will be low (which means payments will be low too). The $450/month (or $850/month during the years I'm using the $400 car budget) is basically my energy costs from year 2019. I basically have protected our budget as though the past few years of stupid energy price inflation from the Dims doesn't exist and replaced them with fixed costs equivalent to my Trump era energy costs. Instead of asking how I can afford it, the question is how could I afford not to do it? (For those of us in a good climate for solar and EV.)
The poster claimed for $6/month he can drive 1,000 miles in his EV.
LOL
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