Random EV thoughts.....

I thought it was going into the car park across from the shopping centre. This seems a much better location.

Another planning permission this time SSE in Rahtcoole. 5 Raption 150 units each with 2 plugs. The location is a bit interesting

https://planning.agileapplications.ie/southdublin/application-details/64211

VW have plug and charge. Hyundai meant to be coming as well later this year.

It was game changing 11 years ago when Tesla did it, now it's expected.

Well ****

Sales are down across all model types, EV as well as combustion, pointing to a general downturn in interest for the brand

Meanwhile Tesla and MG registrations are going up, so I'm guessing the competition is eating up EV sales

Customers are understandably wary of spending more money on a car during a period of high interest rates and inflation, particularly when that brand doesn't seem to particularly offer better value than the competition

I guess they're just going to have to cut prices like they said they wouldn't 😏

I think you're right, although I've no idea how they're going to manage that in the next year without either taking a loss or cutting something significant

They're still working on cutting costs on the battery production and I think the target for their in-house production is 2025

Normally they could use the combustion cars to subsidise the EVs, but if sales are down there as well then that's out

Maybe they'll start releasing a lower spec version with less junk on-board to bring the price down

VW are already lower spec compared to their competition. Their base models are pretty bare bones as it is.

Looks like our neighbours across the pond are getting some very good news.

Summary

I was listening to a pod cast last night with an MG dealer (they sell other brands too but it was an MG owners podcast) and he said the flip in supply, interest and sales is having a big impact in the last few months.

That over the last two years around 30% of all inquiries were for EVs, but their supply was around 8% so there was huge demand.

Now interest in EVs has dropped to about 10% of all inquiries, but supply is 20%. With so much supply the wait times of a year ago that were 12-18 months are now 3-6 weeks.

I see it myself, Tesla, VW, polestar all with inventory you can buy today.

But on the flip side second hand value is tanking. Which is driving up PCP finance rates too. They also have to deal with the loss of the grant (UK) and the rise in electricity. Making it more expensive to make to step up.

So for VW who have an under spec'd, over priced car I'm not surprised interest has dropped. Tesla really shook up the market with the price drop.

Exactly this, tired of people saying the EV market is tanking because after 2 years we're starting to see secondhand models at a reduced cost rather than the new RRP for a year old car. If people are so concerned with values then stick to brands that have good equity.

APR reaching a sky high 8-9% certainly didn't help people jump at buying.

People need to stop acting like cars are the stock market. I'd be more concerned about the high cost ICE being worth something in 3 years when EV sales have been increasing rapidly year on year. We know not everyone can afford €50-60k+ family size EVs, there's going to be a lot of demand for secondhand over the years, the cost to change has increased in recent years so people will be holding onto their cars a bit longer or more likely going secondhand. There will still be plenty of new cars bought.

If people are that concerned with values then keep your deposit at 10% and hope you get it back in equity for trade-in time...

I'm sure this story will be far more popular that the Turbridy shenanigans when it comes before the PAC🤔

From my resent experience of trading in a 3 yr old id3 I can’t say I noticed tanking in 2nd hand prices I got €26k for it, cost me 33/34k 3yrs ago(normal enough depreciation) I also wouldn’t consider them under spec’d, probably over priced but what isn’t at the moment. 12 to 14 week wait for factory spec’d which is what it always was pre 2020.

I can't access this article as it's behind a pay wall. I heard a few weeks ago from.a contact in Dublin bus that the chargers were ready to be installed but they did not realise planning was needed, and are only now applying. That's third hand gossip. My understanding is NTA normally procure all the busses, and in this case maybe the chargers too.

Assuming it's only a planning timeline it should not take too long. ESB networks grid upgrades can take 1+ years so hopefully the grid can handle the demand.