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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: 38special

>If you want to drive one, just lease it

Ha; came back to the thread ‘cause it occurred to me that this is how the stealerships are getting hosed.

Driver 1 leases, has fun with the EV, drives it hard, charges it fast, maybe leaves it out in cold or hot, turns it in. Or maybe he’s a super gentle driver and keeps it safe in the garage charging overnight. Who knows?

Still a lease on a $50k, $80k, $100k *anything* seems dumb to me whether EV or Porsche.


61 posted on 12/26/2023 6:43:35 AM PST by No.6
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To: Oldeconomybuyer

62 posted on 12/26/2023 6:47:52 AM PST by CodeToad (Rule #1: The elites want you dead.)
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To: ProtectOurFreedom

Prejudicial is right. Same way they use “gas-guzzling.” Heard someone on radio point this out and say we should start calling EVs “electricity-guzzling.”


63 posted on 12/26/2023 6:48:30 AM PST by Señor Presidente (Tyranny deserves insurrection)
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To: Oldeconomybuyer

I don’t buy an over priced or used battery drill so I’ll never buy one on wheels either. It’s funny they call them Electric cars when they are really Battery Cars.


64 posted on 12/26/2023 6:50:58 AM PST by JimDaniels1867 (Gun Control: Better to have and not need than to need and not have)
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To: roving

YOU COULD NOT GIVE ME A NEW ONE.


65 posted on 12/26/2023 7:36:44 AM PST by ridesthemiles
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To: CodeToad

That is absolutely hilarious!


66 posted on 12/26/2023 7:55:01 AM PST by ProtectOurFreedom (“Occupy your mind with good thoughts or your enemy will fill them with bad ones.” ~ Thomas More)
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To: Oldeconomybuyer
That is hitting demand in some European markets that were in the vanguard of the shift away from fossil fuel-powered propulsion...

LOL...in their fevered delirium! Then they got a cold, wet slap of reality upside the head. "Vanguard" my arse.

67 posted on 12/26/2023 7:56:51 AM PST by ProtectOurFreedom (“Occupy your mind with good thoughts or your enemy will fill them with bad ones.” ~ Thomas More)
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To: wjcsux
"I haven’t seen TeslaGator for quite some time."

You're right! It's been a whole month. Last seen wandering the halls on November 25.

EEGator

68 posted on 12/26/2023 8:14:08 AM PST by ProtectOurFreedom (“Occupy your mind with good thoughts or your enemy will fill them with bad ones.” ~ Thomas More)
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To: Alberta's Child
After you’ve used it for 3-5 years it is so technologically obsolete that you can’t even give it away.”

With computers, it's largely a perception problem. It used to be true, that newer computers were a lot more powerful than computers that were only a few years old. Most people with even an older I7 would see a massive improvement in perceived speed my replacing the hard disk with an SSD, or just replacing MS-Windoze with a real operating system.

When I build a new computer, I fully expect to use it for a decade. In the past, I might end up upgrading to a bigger disk, but these days, I don't even have to do that. A modern CPU has boatloads more raw computing power then the average person will ever use. Heck, I've got 16 cores on mine and the only time I really max out the CPU is when I rip DVDs, so I can copy the file to my media player. It really is cool seeing my load average go to 11 or 12, but that really doesn't happen much.

With electric cars, the batteries really do degrade over time even if they are not used much. So while the comparison might have once been true, it is not so much anymore.

69 posted on 12/26/2023 9:18:22 AM PST by zeugma (Stop deluding yourself that America is still a free country.)
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To: EVO X

I think I could tolerate some noise if I was going to be getting power when others are not.


70 posted on 12/26/2023 6:05:07 PM PST by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: FoxInSocks

Then they’ll haul it to YOUR house and place it out front!


71 posted on 12/26/2023 6:05:52 PM PST by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: No.6
... makers sealed them right back in ‘for protection’...

If you don't mind a little bulk...

72 posted on 12/26/2023 6:08:29 PM PST by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: ridesthemiles

I’d take it!


73 posted on 12/26/2023 6:09:41 PM PST by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: Elsie

The neighbors may not like it. I suspect HOAs can dictate what kind of generators can be used.


74 posted on 12/27/2023 12:22:18 AM PST by EVO X ( )
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To: EVO X

I’m 2.5 miles away from the nearest HOA.

(Cue Green Acres theme song)


75 posted on 12/27/2023 4:10:26 AM PST by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: EVO X

When your whole subdivision is dark; let them bitch about YOUR generator!


76 posted on 12/27/2023 4:11:41 AM PST by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: Elsie

That would be my take as well. Beg for forgiveness later if the subject comes up.


77 posted on 12/27/2023 4:47:59 AM PST by EVO X ( )
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To: No.6

Or so that you can’t remove them to avoid being tracked _or_ to sell more Faraday bags lol


78 posted on 12/27/2023 10:00:27 AM PST by kneedragger111
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To: irishjuggler

I did just see an ad showing an ev pick-up(ford?) powering a house after a black out.


79 posted on 12/27/2023 11:28:46 AM PST by mdmathis6 (A horrible historic indictment: Biden Democrats plunging the world into war to hide their crimes!)
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To: mdmathis6

Thank you. I stand corrected. Apparently, yes, the Ford “F-150 Lightning” can power a home with some add-on equipment that costs about $5,000.


80 posted on 12/27/2023 12:48:13 PM PST by irishjuggler (I)
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