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EV Depreciation

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Comments

  • Registered Users, Registered Users 2 Posts: 2,232 ✭✭✭waterwelly


    It's down to a perceived saving really. The tech. will become bog standard soon.

    An easier drive but I drive both EV and manual diesel and while I'd pick a EV I wouldn't pay extra for one.

    Automatic cars were always available but very few wanted them.

    There was a big benefit for a while of charging for "free" off solar PV but that's largely gone now.

    Then again petrol could go back over €2 quite easily and the goalposts shift again.



  • Posts: 2,768 ✭✭✭ [Deleted User]


    I had a perfectly good Lexus Is300h and I wanted a new car. I spent 44k on it, and it wasn't to save money obviously. I love technology, but the main reason I went Ev was for the benefit of the environment. When I say environment what I really mean is local air quality. Unless my circumstances change drastically I'll never go back to petrol. Couldn't give a shlt about depreciation, I'll worry about that when it comes to changing as the market will have changed again.



  • Registered Users, Registered Users 2 Posts: 60,596 ✭✭✭✭unkel


    @waterwelly - "Automatic cars were always available but very few wanted them."

    Everybody always wanted them. If they weren't way more expensive, slower, used far more fuel and were more expensive to fix. Rich people didn't care about any of that, so pretty much all high end cars were always bought with automatic anyway 😂

    Not that it matters much anymore, the majority of new cars sold are automatic now, very soon all of them are. My teenage daughters have all decided they won't bother learning to drive in a manual. And interesting enough, the majority of teenage boys I have spoken too or heard of around me, are pretty much the same. Almost all of them have far less interest in cars than the previous generation.

    "Make no mistake. The days of the internal combustion engine are definitely numbered" - Quentin Willson, 1997



  • Posts: 2,768 ✭✭✭ [Deleted User]


    It's funny you should say this as I spent some time with my Nephews during the week, 10 and 12. I asked what they and their buddies were interested in car wise and they said it's still petrol cars. They don't lust after electric at all. My general experience is different though and young kids seem to love the Tesla.



  • Registered Users, Registered Users 2 Posts: 2,232 ✭✭✭waterwelly


    I'm persisting with manual training for now, although I think the manual wheels we have will be the last.



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  • Registered Users, Registered Users 2 Posts: 60,596 ✭✭✭✭unkel


    So why are you persisting then? To spend extra time and money teaching your children a skill that they will never need?

    I can only think of one reason to do so: if your children were interested in older / classic cars. I discussed that with mine and they weren't 😁 And don't get me wrong, I love driving manual cars. It was sad to see my Boxster go. And then last year I got a MINI Cooper S, but sold that too.

    "Make no mistake. The days of the internal combustion engine are definitely numbered" - Quentin Willson, 1997



  • Registered Users, Registered Users 2 Posts: 16,615 ✭✭✭✭Flinty997


    I've found it useful to have the choice when hiring or borrowing a car. You don't always get an auto.

    Also it gives you the choice if you get tired of ai self driving and flying cars in the future.



  • Registered Users, Registered Users 2 Posts: 60,596 ✭✭✭✭unkel


    That's an old argument that used to be valid alright. One that I used myself years ago to encourage people to learn to drive in a manual.

    But it's nearly impossible to rent a car until you are 25. So the first time today's teenagers will be able to rent a car is 6-7 years from now. By then rental cars will pretty much all be electric / automatic

    "Make no mistake. The days of the internal combustion engine are definitely numbered" - Quentin Willson, 1997



  • Registered Users, Registered Users 2 Posts: 4,562 ✭✭✭sk8board


    The rental argument was one I used to use too.

    You’ll get more rental EVs in future in Europe, maybe, and it’s only a maybe - fleets buy to massively tight margins and EVs are currently causing huge unexpected balance sheet write-downs which will mean they’ll be very hesitant to buy more

    the news from the past few weeks alone suggests the big rental companies are giving EVs back (Hertz and Tesla e.g), and are not ordering more



  • Registered Users, Registered Users 2, Paid Member Posts: 21,995 ✭✭✭✭Cyrus


    Once there is self driving you won’t be allowed drive yourself I’d imagine .



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  • Moderators, Home & Garden Moderators Posts: 7,502 Mod ✭✭✭✭graememk


    For the vast number of people once they do go automatic, they'll never go back.

    I do like that I'm able to jump into almost anything and be able to drive it, (although never tried a flatbed or lorry)

    My experience is more agricultural. While they can be in an automatic mode, there's usually a clutch (even though it's basically a switch). Having the gearstick to the right (on tractors) did make driving a manual in Europe almost feel natural.



  • Registered Users, Registered Users 2 Posts: 16,615 ✭✭✭✭Flinty997


    The vast majority of rentals are usually the base model. That is never an EV. You're also latching on to the current market which is in flux as if it's normal. It's not. That applies to EVs and ICE cars. You tube is full of it.




  • Registered Users, Registered Users 2 Posts: 16,615 ✭✭✭✭Flinty997


    There's been a huge shortage of cars then a oversupply then the start of interest rates rises. Like a broken clock that's right twice a day. Every prediction will be right at some point. But it will be wrong most of the time.



  • Registered Users, Registered Users 2 Posts: 16,615 ✭✭✭✭Flinty997


    True for me twice this summer. I went expecting to rent in a big city an EV or at least an automatic. None available both times.

    If a young driver wants cheap, and simple and slow it will be manual. Because they won't be buying a new car. They'll be buying an old car. I doubt "many" are buying a 1st gen leaf to drive to college or their first job, they are either renting close to work or college or commuting a long way to it.

    Noticeably in London how many small petrol cars (manuals) are so popular, because people are parking on the street and in ulez zones. Ireland and Dublin is only going to follow in that trend.



  • Registered Users, Registered Users 2 Posts: 16,615 ✭✭✭✭Flinty997


    Might depend where you are from. In my youth autos were seen as old man's car.

    Theres a whole new culture of drifting, Fast and Furious. So it's not gone.

    The numbers all show theres been a shift in Ireland to Auto. It will keep going. No denying that.



  • Registered Users, Registered Users 2 Posts: 7,826 ✭✭✭maidhc


    They should get the manual license anyway; even if they need to rent a motorhome or removal van they will be at a disadvantage.



  • Registered Users, Registered Users 2 Posts: 2,232 ✭✭✭waterwelly


    It will be a while yet until it's all electric though. It's as easy do the full test now and be ready for whatever eventualities life brings.



  • Registered Users, Registered Users 2 Posts: 408 ✭✭Eleusis


    Thanks for this tip, Managed to get this car, (Emailing and sending voicemail even though is was bank holiday helped, as I got a reply). Seems a few on this thread were interested after your tip. Very happy so far!!



  • Registered Users, Registered Users 2, Paid Member Posts: 6,818 ✭✭✭Buddy Bubs


    Best of luck with it, there's a decent thread going with a few of us that own one. Well it used to be decent it's quiet now!



  • Moderators, Society & Culture Moderators Posts: 42,075 Mod ✭✭✭✭Gumbo




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  • Registered Users, Registered Users 2 Posts: 408 ✭✭Eleusis


    Picked it up yesterday. Funny how almost nobody knows what a Cupra is. Each time have to explain it's basically basically an id3, basically Seat, basically VW cause of VAG. I'm sure Il have lots of questions, Il put into Cupra Born thread.

    Out of curiousity does anyone have what the GFV offers they are getting with new Cupra Born with no packs? I was surprised to get a GFV of 20.5k (15km P/A) offer on this near 1 year old car. I think it is reasonable. Was only 16k ish IIRC on 241 LR MG4. Also recently had GFV offer of 18k on an ID3 43k brand new. I had no intention of going PCP until I seen the offer. For spending a bit more overall it gives me many more easier options in 3 years.



  • Registered Users, Registered Users 2, Paid Member Posts: 6,818 ✭✭✭Buddy Bubs


    Yes the only cupra models are the born and Formentor, everything else is an offshoot of SEAT. They are not that well known yet.

    We have all been through it.

    What colour did you get?



  • Registered Users, Registered Users 2 Posts: 408 ✭✭Eleusis


    Raleigh red. Wouldn't be my first choice, but I still like it.



  • Registered Users, Registered Users 2 Posts: 4,966 ✭✭✭joe1303l


    Well done, sounds like you got a great deal. I presume it’s a 58kWh version ?



  • Registered Users, Registered Users 2, Paid Member Posts: 6,818 ✭✭✭Buddy Bubs


    There's a red outside my dealer it's lovely suits the car well. I got the expensive aurora blue, lovely when it's sunny and clean but not worth it at all.



  • Registered Users, Registered Users 2 Posts: 7,254 ✭✭✭MojoMaker


    Same. Wasn't concerned about depreciation - yes I'm sure it will be painful, but as we've said all along it only crystallises when you're at a selling/changing point.

    The primary motivation was to move to a cleaner form of urban transport. Second in line was the much more pleasurable driving experience. Third in line was the abundance of up to date technology (which contributes to #2). Last in line was cost of ownership, which I treat as a bonus (although that cost of ownership advantage is receding in small cuts here and there).



  • Registered Users, Registered Users 2 Posts: 4,562 ✭✭✭sk8board


    “Model Y sales in Europe dropped in every quarter of 2023. It's unclear why this happened. Supply was not an issue.


    • 73,386 in Q1 2023

    • 65,511 in Q2 2023

    • 62,399 in Q3 2023

    • 53,663 in Q4 2023

    Model Y supply was not an issue. Europe finished December with 33,000 Model Y in inventory. Giga Berlin stopped production for a week because of too much inventory.”

    https://x.com/TroyTeslike/status/1743417925019619585?s=20



  • Registered Users, Registered Users 2 Posts: 16,615 ✭✭✭✭Flinty997


    Competition and interest rates.



  • Registered Users, Registered Users 2 Posts: 4,562 ✭✭✭sk8board




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  • Registered Users, Registered Users 2 Posts: 60,596 ✭✭✭✭unkel


    Q4 is always lower total car sales than in Q1 in Europe. In Ireland the figures would be way more skewed again towards Q1 than those figures.

    Funny enough, in China it's the other way around with Q4 traditionally being the best quarter. That's how BYD sold more EVs than Tesla (worldwide) for the first time in Q4, 2023. Overall for the year, Tesla was higher. 2024 could possibly be the first year that BYD wins, but it would be close. Obviously the average value of a BYD EV is far lower than a Tesla EV.

    "Make no mistake. The days of the internal combustion engine are definitely numbered" - Quentin Willson, 1997



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