EV Depreciation

EVs in general, but obviously the IDs are the biggest volume seller by far.

you’re beta testing a lot of new ‘stuff’, which car people may not mind, but Joe Public will just keep thinking to themselves that “I didn’t have to deal with this sh1t with my last car”.

Tesla and all the rest of them are no different, and yes they’ll get the creases ironed out, and no doubt someone will retort with an ICE whataboutism, but all EV drivers heretofore are beta testers, it’s just that some haven’t realised it yet :)

They are just like any other used car to a certain extent. Look at the current crop of evs that are of that age and they are not worthless. They are still useful to a lot of people for a lot of journeys and have a value as such - even with depreciated battery capacity from an already small starting point. We have an 11 year old nissan leaf - hasn't needed a new battery yet, nor is it falling off a cliff in terms of degradation. it's slowly ticking down at a predictable rate and will still be useful for most of our running around in another 5 years. So I would be certain that the a used EV of the current 40/50/60/70 kw battery capacity will be more than useful for most people in 8/9 years and will have a similar value relative to any other 8/9 year old car at the time. They may even end up with a better retained value as govt policies push more costs on to ICE to discourage continued use. I would also anticipate that when the current crop of cars are 8/9+ years old there will be a much wider network of non-dealer mechanics who will be prepared to work on them so big ticket breakages will be much cheaper to fix than at present and battery refurbishment will possibly be a much more common / normal occurrence than it is now.

For me software is the big unknown with all modern cars irrespective of propulsion. Cars are just so godamn complex now just like all electronics so their useful longevity will depend on the extent to which this software and accompanying hardware can be economically supported/repaired as cars age. The lump hammer and spanner will be increasingly less valuable in the battle to keep them on the road in the coming years. Same goes for all white goods of which cars are increasingly joining the ranks.

I got a laugh out of this, basically the dumbest class of customer and a dealer's wet dream but somehow its the EV's fault

Considering sales have flatlined after the recent price cuts to the 2 biggest volume EVs (VW ans Tesla), and additional options in the market like BYd, I think it’s fair to say that the price cuts are here to stay for the foreseeable future

Why is there, what appears to be a big drop in price for 2nd hand 2023 or older Mazda MX30 EV Suvs?

Around 50K new, then 2023 or older Mid 20K

Mileage also very low on all of them. I imagine if some one was interested in an EV right now .. while it lasts .. this is a steal / bargain. And MAZDA as a make has very good calibre. Very reliable. ( I would say that, I drive MX5s .. wife Mazda 3s :D )

They were a complete flop, in the us at least. You would be married to it, and it might be a bit like misery, as you won’t go very far.

@drunkmonkey Wont be me buying an electric :D .. Too tied to my MXes .. this is my 4th, an 08 NC. Its my daily driver. Great car. I do note the value of them is gone up surprisingly. Looks like my car has become an asset. Still flies through the NCTs. Only recent issue was driver side Caliper .. sorted & fixed. No sign of MX5s going EV any time soon though I have seen specialist car shops in UK doing conversions. Good few vids on youtube in this regard. Cost though is nuts .. 20 odd thousand plus and I think thats sterling

I would love some day to see EV conversion become far more affordable, it would definitely help the general conversion over to Electric if many people could affordably convert there existing motor.

The ID3 prices have already taken a big tumble in the last 12 months, the news headlines are only catching up now.

Have a look at look ID3 prices on Donedeal/ Carzone and compare them to the petrol/diesel Golfs of the same age.

IMO 2nd hand ID3's are good value now compared to their ICE equivalents.

Thanks for the views so far. I think if I can bargain a good deal, I’ll be tempted

Sound Advice - Model 3 prices still glacially slow to move-

It’s a supply issue.

there’s only about 50 cars for sale in the whole country, and maybe 10 that represent any kind of value.

the UK is stuffed full of 3 year old lease cars, but they’re slightly more expensive there than here, so imports of M3 are slow, even though they seem like such a no-brainer.

for all the talk about depreciation and EVs not wanted by dealers, I'm in Merlin's at the moment and there was a flurry of dealers bidding on a leaf30 with a damaged door and it sold (not provisional, so it met the reserve).

(I amn't here for another leaf, I have an eye on a v8!)

2 leaf 30 here, both sold just under 5k with cosmetic damage. The second one only had 66% SOH too. Can't imagine theres much money in it. But I have to remember, these are 8 year old cars now. Comparing with other 2015/2016 cars, they are similarly priced.

The leaf 30 was about 28k from new if memory serves. 5k/28k gives 18% of value remaining after 8 years.

If we compare that to the 2014 cashcow that Im looking at now, it sold for 7.5k today, so 8k after fees, for a 10 year old basic spec petrol car that probably cost 24k new max. That's 31% of value remaining after 10 years.

Yes, all these are trade auction prices, makes it even more remarkable and maybe shows the opposite of what I was saying earlier. More dealers wanted the qashqai than the leaf, because more customers want it, so more value remains.

I'd be cautious about assuming short term activity in a market will be mirrored in the long term.

I'd also be cautious thinking a new market or new tech doesn't come with some pain. It's not called the bleeding edge for no reason.

23k/8 = circa 3k Pa depreciation Leaf

16k/10 = circa 1.6k Pa deprecation Quashqai

EV depreciation is global, these guys (I followed them before I had an EV, they arent an EV only channel but have owned 3+ EVs so they generally give unbiased views) lost 20k on a 11 month old model 3

Isn't depreciation on everything global?

The new EV's are coming about right now. Like a ID.4 starting at circa 40k is about right but I still think it needs 0% PCP....so still a bit high.