EV Depreciation 2023

gammon199

https://www.boards.ie/discussion/2058327241/ev-depreciation-2023

Your EV has depreciated by half its value in 2 years, why that's a good thing 😂, most of the replies here lol

But in all seriousness as a non EV owner, that's hoping to be one that is a good thing, not for you OP of course. If you have to sell that car tomorrow for cash you've just lost the bones of €20,000 in less than 2 years, its a kick between the legs for sure, but your taking one for the team in the long run as we all move onto EV's, only advice I can give to you OP, is to look into extended warranty insurance maybe, as you'll be keeping it for a while I would think.

ID5 77kWh 174bhp is now available for 42k after scrappage from dealers, that's insanely good value, that car is still advertised on the VW website for 60k. I can honestly see something coming from BYD or a lesser Chinese brand coming with a similar size 80kWh blade battery with 400km range for 30k in the next 3-4 years, gonna be fun trying to trade in a small battery 45k 2024 50kWh Peugeot e308 in 2027.

Progress that has been made in the last 12 months on EV affordability has been staggering, a real price war is coming, great to see

MarkN

https://www.boards.ie/discussion/comment/121510331#Comment_121510331

Depends on the car. You try driving a Subaru Solterra for example and come back to me. Add in a motorway and it’ll be worse again.

I’ve driven upwards of 50 EVs this year and I see plenty of variables whether it’s range, efficiency, charging curves, motorway range etc etc

Buddy Bubs

https://www.boards.ie/discussion/comment/121511045#Comment_121511045

I won't have to sell it, keeping it for the long haul now and giving it to the wife she will keep it forever I'd say.

Currently on the hunt for something good value in the used market and taking advantage of the falls, Etron GT or something maybe with 50k off new price when the time comes. Although realistically a BMW i4 is going to come into a price range I like first so we'll see what happens. I'll see how long we are happy to be a 1 car household, going ok at the moment so no rush.

Either way back to used market for me from now on which I'm fine with.

Jackben75

yikes, reckon they were crashed? Huge depreciation, I am still on the fence but concerned about this aspect for quite a while

https://youtu.be/1K1Er_KVw1M?feature=shared

Ubbquittious

I am just after buying a 2022 e208 for 20k. Must have cost close to 40k for who ever bought it new

waterwelly

https://www.boards.ie/discussion/comment/121510785#Comment_121510785

"They understand if you go faster you use more fuel."

I'm not sure about that, whether it's EV or ICE I think lot of people don't get this.

Neither do they get that driving faster leads to more wear and tear, jamming on the brakes wears tyres and brakepads faster etc. etc.

Gumbo

https://www.boards.ie/discussion/comment/121512091#Comment_121512091

About €37k new?

So €15k in 1 year. It’s a lot but I would say not unusual for the brand. I had a 5008 for a time and actually liked it.

Casati

https://www.boards.ie/discussion/comment/121510258#Comment_121510258

Those of little faith...

VW Tiguan : 221 New RRP €49000 (Inc Met / On the road).

Trade In Offered (45,000km) : €43500 - so actually 11% depreciation

VW Tiguan : 224 New RRP €51500 (Inc Met- same spec)

Cost to Change: €8000 (4k per annum)

Skoda Octavia : 202 New RRP €26500

Trade In Offered : €20000 - so 25% depreciation

Skoda Octavia : 224 New RRP €32000

Cost to Change : €12000 (€3428 per annum)

To be clear these are real life trade-in values for new factory order for delivery 2024. Potentially I might do better selling privately but I'm busy enough without having loads of idiots low balling or asking me to take a swap etc.

I would highlight that not all Skoda or VW dealers offered the same- one VW dealer in Fermoy offered me 6k less for my car, so my strong advice is to shop around near and far when trading in fresh cars into main dealers.

Ubbquittious

https://www.boards.ie/discussion/comment/121512097#Comment_121512097

Ya around that. Knowing my luck it will probably be worth 10k or less next year.

Gumbo

https://www.boards.ie/discussion/comment/121512131#Comment_121512131

Nah, first year is always the steepest jump. Safe motoring 👍

Cyrus

https://www.boards.ie/discussion/comment/121512127#Comment_121512127

Ah you are trading against the same car, same as the lad trading his mg against a mg, that doesn’t mean that’s the value of the car, if you were selling privately I doubt you’d do nearly as well.

Gumbo

https://www.boards.ie/discussion/comment/121512127#Comment_121512127

The Tiguan is a very desirable car in fairness. Some 2022 cars are still asking 49-50k, RLine models of course. Cheapest is 39,450 but very basic.

User1998

https://www.boards.ie/discussion/comment/121512397#Comment_121512397

Trade in values don’t change depending on what car you are buying. Different dealers will give you different prices. They shopped around and found a good trade in offer. Lots of people get the best trade in offers from dealers that don’t even sell that particular make of car.

Cyrus

https://www.boards.ie/discussion/comment/121512560#Comment_121512560

Of course they do, if you want a new Tiguan you’ll do better than if you want a Range Rover or a bmw x5. Or trade it against a byd or a Tesla see how it differs.

User1998

https://www.boards.ie/discussion/comment/121512572#Comment_121512572

Not always true. Plenty of posts here over the years of different brands giving better trade in prices. For example Windsor gave us a better trade in price than BMW did on 1 year old BMW X1.

finbarrk

https://www.boards.ie/discussion/comment/121511045#Comment_121511045

I don't see any iD5 for €42k.

Casati

https://www.boards.ie/discussion/comment/121512572#Comment_121512572

Obviously trade in by different dealers varies massively but the value of any car is the highest bid you can get, not the lowest. Cost to change is the key consideration for most people, including Adrian in the article. His 15k to get a new ID3 compares v unfavourably with my cost to change.

Trading for a Range Rover would likely have got me an artificially high trade in value as RR’s dealers have a lot more room to play with on a 200k car than my VW dealer has - buying straight you might get 1500 off a new Tiguan but your RR dealer might go 10k or more - especially in the current market.

Trading against a Tesla basically would yield the lowest trade value as Tesla won’t retail my car - they will farm it out to the trade (sight unseen) and then stick a Tesla margin on it. The wholesaler they trade it to will likely sell it to another trader and it could make it way back to a VW dealer to retail - with everybody getting a nice cut, leaving me shafted.

FYI I ended up not taking the VW offer and traded it to another make and for the same trade-in value

Cyrus

https://www.boards.ie/discussion/comment/121512874#Comment_121512874

the value isnt the highest bid you can get. the value is what you would sell it for privately or directly, trades ins have far too many variables. If you are trading in against an outgoing model youll get a much better trade for example but it may end up costing you further down the line.

Glad you are happy with the value you got but you are being selective.

E30M3

I think anyone trading in an ICE Car now and getting a reasonable cost to change for an ID4 costing 42-43 with a 241 plate should experience 'normal' depreciation as the market settles and matures.

I can see other makes having to adjust prices down in line with Tesla and VW and this will of course be painful for all owners who purchased prior to the recent Tesla and VW Price adjustments.

Additionally new Entrants or new cars will need to launch at a competitive price point relative to Tesla and VW to gain any traction.

Hopefully for current owners the market will settle and cost to change won't be too painful if they decide to continue on the EV path, however I think some people may thing once bitten etc. and revert back to ICE

Cyrus

https://www.boards.ie/discussion/comment/121512581#Comment_121512581

youve already gone from dont change to not always true. generally you are always getting shafted its just that sometimes you dont realise it.

vimalandrew

Next year, chinese company NIO is coming with solid state battery. Then the current EVs surely will have 25 percent of the value after 4 years.

Rusky rusky

Was in VW showroom in Cork in the morning. It seems they forgot to adjust their prices. ID.3 had a SOLD sign affixed to the windshield.

Gumbo

https://www.boards.ie/discussion/comment/121513193#Comment_121513193

God help the poor soul if a VW Dealer sold them that car at that price!

josip

https://www.boards.ie/discussion/comment/121512983#Comment_121512983

And if they revert to ICE, there's a risk that they'll get bitten a 2nd time when they try to offload that car into an ever-decreasing market in a few years time.

Rusky rusky

https://www.boards.ie/discussion/comment/121513204#Comment_121513204

Yep, the ID.3 price tag was the price I paid for MY in march (even €500 cheaper than that).

gammon199

https://www.boards.ie/discussion/comment/121512865#Comment_121512865

VW dealer in Cork and Kerry have the deal, it includes scrappage which is 3.5k, they also have have ID4 77kWh for 41k.

It's not been advertised, they are trying to keep it quiet for some reason.

I really hate that sneaky dealer model, the Tesla way of the price is the price is so much better and transparent, like the example from the post above from Gumbo. VW could easily catch some poor sod for 61k for an ID4 when the same garage is selling it for 41k to someone else, it should be illegal in this day and age

Casati

https://www.boards.ie/discussion/comment/121513212#Comment_121513212

No sign of increase in new EV sales negatively impact the value of used petrols and diesels - if anything less new petrol/ diesels cars is making the market for good second hands tighter, but as with buying an EV you need to chose well - the likes of the Rav 4 is well priced and depreciates like a glacier.

staples7

https://www.boards.ie/discussion/comment/121513240#Comment_121513240

The cork dealer are notorious bad pricing. Couldn't deal with them when I was buying my Tiguan or ID4. The Kerry dealership are miles ahead & don't employee your typical Car sales man Kn@bs.

Between the dealerships If I recall there was over 6k of a difference between trading in a Tiguan and buying the same ID4.

jonnygee

https://www.boards.ie/discussion/comment/121513193#Comment_121513193

The 44,498 rotr price for the id3 as shown includes the rear camera. So is this the same car that is now 38112 including 1000 for the camera.

I am trying to find out how much exactly that the price of this car has dropped by.

ELM327

https://www.boards.ie/discussion/comment/121513145#Comment_121513145

believe it when you see it. most "coming soon" or "next year" things don't arrive.