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No one wants used EVs, making new ones a tougher sell too
The Strait Times ^ | December 25, 2023

Posted on 12/25/2023 7:19:12 PM PST by Oldeconomybuyer

BERLIN – The shift away from cars with dirty combustion engines is running into a new hurdle: Drivers do not want to buy used electric vehicles (EVs), and that is undermining the market for new ones, too.

In the US$1.2 trillion (S$1.6 trillion) second-hand market, prices for battery-powered cars are falling faster than for their combustion-engine cousins. Buyers are shunning them due to a lack of subsidies, a desire to wait for better technology, and continued shortfalls in charging infrastructures. A fierce price war sparked by Tesla and competitive Chinese models are further depressing values of new and used cars alike, threatening earnings at rivals like Volkswagen (VW) and Stellantis.

Because most new vehicles in Europe are sold via leases, automakers and dealers who finance these transactions are trying to recover losses from plummeting valuations by raising borrowing costs. That is hitting demand in some European markets that were in the vanguard of the shift away from fossil fuel-powered propulsion. Some of the biggest buyers of new cars, including rental firms, are cutting back on EV adoption because they are losing money on resales, with Sixt dropping Tesla models from its fleet.

“When a car loses 1 per cent of its worth, I make 1 per cent less profit,” said Mr Christian Dahlheim, who heads VW’s financial services arm. The issues with second-hand EVs, he added, have the potential to destroy billions of euros in earnings for the broader industry.

The problems are expected to intensify in 2024, when many of the 1.2 million EVs sold in Europe in 2021 will come off their three-year leasing contracts and enter the second-hand market.

(Excerpt) Read more at straitstimes.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; Politics/Elections
KEYWORDS: chat; evs; evssuckinthecold; firetraps; theydrovewithpride; yousweetsummerchild
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To: wjcsux

Gator is a rat troll, a connected democrat party member. His EV BS is just a small part of his act


21 posted on 12/25/2023 8:24:59 PM PST by gibsonguy
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To: dayglored

#21.


22 posted on 12/25/2023 8:26:05 PM PST by gibsonguy
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To: Oldeconomybuyer

I don’t think the admission for a worn-out EV to get into a junk yard is going to be cheap.


23 posted on 12/25/2023 8:26:18 PM PST by FlingWingFlyer (They've begun dismantling Arlington Cemetery, next comes diggin up white solders and dumpin' 'em.)
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To: Oldeconomybuyer

Solyndra on wheels.


24 posted on 12/25/2023 8:35:04 PM PST by PJ-Comix (Yes, I am the Toxic Troll Terminator)
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To: Oldeconomybuyer

I guess they’ll need to get buried wherever all the useless old wind turbine and solar panels are sent to die.


25 posted on 12/25/2023 8:37:07 PM PST by 9YearLurker
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To: gibsonguy
Oh, I know, I find his screeds just as obnoxious as everyone else does. If his trolling meets the bar for getting zotted, he'll get zotted. Until then, he's just another annoying troll. We tolerate scores of them.

But one of the better aspects of FR is that for the most part we are cognizant of and respectful of the FR traditions (as well as the rules), one of which is that you ping any FReeper you mention by name (even sarcastically).

26 posted on 12/25/2023 8:51:49 PM PST by dayglored (Strange Women Lying In Ponds Distributing Swords! Arthur Pendragon in 2024)
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To: SquarePants

Good move. Who wants the fuss and irritation one would have with this drain on the power grid?


27 posted on 12/25/2023 8:53:54 PM PST by Wdempsey (Democrats and slinkys.. Both useless but fun to push down stairs.v v ely)
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To: Oldeconomybuyer

cause whoever will buys one secondhand, is STUCK WI IT...

because nobody, and i mean NOBODY will a third owner stuck wi an unsalable lump of dead/dying batteries...


28 posted on 12/25/2023 8:54:26 PM PST by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
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To: Oldeconomybuyer

This should be applied to 2nd and longer term Democrats as well. Once they prove their incompetence/malevolence, set them free to pursue an alternative existence!


29 posted on 12/25/2023 9:18:41 PM PST by Rembrandt (-a sure sign a Dem is lying - his lips are moving.)
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To: Republican Wildcat

“..Imagine after a major winter storm knocking out your power for several days,..”

I got out of the Navy in 12/70, returned to college in 1/71. In 1/72, southern Illinois (I was at the Univ of ILL), experienced a 5 day period when the high temp was -20 def F. A tow truck pushed my VW bug 3 times before I got one cylinder to fire intermittently; took 5 minutes before the engine was running regularly.


30 posted on 12/25/2023 9:25:39 PM PST by Rembrandt (-a sure sign a Dem is lying - his lips are moving.)
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To: Oldeconomybuyer

Honestly, I don’t want a used car newer than 2011. It seems that most cars after 2011 started replacing simple circuits with computer modules. And they’re very expensive to diagnose and replace. I also don’t want a newer used car that has integrated LED bulbs/fixtures. Maybe a replaceable LED bulb, but if they’re manufactured into the fixture? No way.


31 posted on 12/25/2023 9:34:26 PM PST by IYAS9YAS (There are two kinds of people: Those who can extrapolate from incomplete data.)
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To: Republican Wildcat
What if you have a long term power outage?

Well, unless you had the forethought to store gasoline or diesel, you would be in the same boat as the EVs. No power, no pumps either. Some stations do have generator backup in some areas, but none around me do. At least there is nothing to indicate they do. No exhaust pipes for generators or anything other than normal looking buildings. And when the power goes out, they close down, too.

32 posted on 12/25/2023 9:39:25 PM PST by IYAS9YAS (There are two kinds of people: Those who can extrapolate from incomplete data.)
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To: wjcsux

they make wonderful lawn ornaments

bit expensive though


33 posted on 12/25/2023 9:51:47 PM PST by joshua c (to disrupt the system, we must disrupt our lives, cut the cable tv)
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To: Oldeconomybuyer

There is no ‘second hand’ market for electrical vehicles... Period!


34 posted on 12/25/2023 9:54:21 PM PST by jerod (Nazis were essentially Socialist in Hugo Boss uniforms... Get over it!)
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To: wjcsux

I wonder if an EV could be used as an energy source when power is out? A generator noise could draw attention. Just a thought.


35 posted on 12/25/2023 10:13:34 PM PST by healy61 (.)
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To: healy61

“I wonder if an EV could be used as an energy source when power is out? A generator noise could draw attention. Just a thought.”

I’m sure that the typical EV battery holds enough kilowatt hours of ‘tricity to do that, but I don’t think a single EV is configured with the capability to output to a home electrical system. So, for now, “yes” in theory, but “no” in practice.


36 posted on 12/25/2023 11:53:32 PM PST by irishjuggler (I)
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To: healy61
I wonder if an EV could be used as an energy source when power is out? A generator noise could draw attention. Just a thought.

The F150 lightning is capable of doing it. However, the home hookup system is very expensive. For the cost, one might as well buy a natural gas generator such as a Generac..

37 posted on 12/26/2023 1:42:44 AM PST by EVO X ( )
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To: Oldeconomybuyer

GM to investors: “Buy our stock...Just because”


38 posted on 12/26/2023 2:35:00 AM PST by equaviator (If 60 is the new 40 then 35 must be the new 15.)
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To: Oldeconomybuyer

Regardless of what is being written and said here, the reason EVs are flopping is that Americans have looked at them and said NO! The reasons vary a bit but we know EVs are just another way to try to restrict our freedoms.


39 posted on 12/26/2023 3:26:21 AM PST by jmaroneps37 (Freedom is never free. It must be won rewon and jealously guarded.)
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To: Oldeconomybuyer

I like they way they start out with the “dirty combustion engines” lie. No bias there.


40 posted on 12/26/2023 3:30:39 AM PST by Fresh Wind (Soros on assisting the Nazis with the Holocaust: "That's when my character was made.")
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