2024 Irish EV Sales

Just got this to my inbox. How much were they before? 57 or something outlandish like that?

EVs will sell when they are 1) consistently cheaper to buy and own than an ice and 2) convenient. People are pretty straightforward.

a huge increase in petrol prices will do it. I am sure an oil crisis coupled with good grants for pv generation would do it.

as of 2024 the sums don’t favour evs.

No, the actual loss is 22k. That's the amount of cash they fronted, less the value of their car.

If they trade up to a €45k car they will have spent €29k more than the combined value of both cars.

If they had bought a Tiguan for similar money, that car would be worth €10k more than the ID4 today.

Of course you are correct that the senior manager's loss was 22k over 2 years but it does bear more analysis. The 1st thing to say is as has been mentioned here already is that anyone buying a new car needs to be able to accept normal depreciation levels over a number of years. On high cost cars then depreciation costs will be high in actual cash terms. In this case 30% would be normal for 2 years which means an expected 16.5k loss plays against an actual loss of 22k. So now we have an unexpected additional loss of 5.5k. The car has higher than normal average mileage of 30k- with 20k being normal. This drops the car's value by at least another 1k. So we are now down to an additional loss of 4.5k. What would be his fuel savings over the 2 years? - assuming that as a senior manager he is reasonably smart he would have a smart meter at home and hence would benefit from cheaper electricity? In any event it would not be beyond the bounds of possibility that he could have fuel savings of 0.5k per 10000kms - so 3k savings in total. So now we are now down to an unexpected loss of 1.5k in an original 60k cost car. Still not good and he is obviously emotional when he makes the idiotic comment about instantaneous fires - if he really believed that he wouldn't have got the car in the 1st place. As regards the 2 year old diesel with little depreciation- good luck with going into a dealer with a 2yr old diesel and expecting that trade in value. Carzone is chocker block with well overpriced used cars with too little depreciation.

I agree with you- why did the manager not avail of the very generous BIK benefits and buy the car through the business? this does not make sense without further explanation. Maybe he was expensing his considerable mileage bringing the cost of running the car to a minimum? I was responding Maybe somewhat tongue in cheek to the facts as reported- that he bought the car outright with his own cash. Even in this scenario I was trying to make the point that he lost very little more than normal depreciation. He also had the benefit of driving a very comfortable,smooth and quiet car for 60000km. Stories like this which are light/economical on the facts are more suited to the daily mail/ the sun newspapers.

Per your maths the manager is sitting on a 10k loss by buying the ID4 rather than the diesel Tiguan (for example). Depreciation on Tiguans seems to be significantly lower than normal and I'm not going to speculate why that is - maybe someone with market knowledge might enlighten me. In the meantime a Tiguan owner would not have gained the significant savings of EV BIK or tax allowances or mileage expenses (take your pick which the manager had because I don't believe for a moment that he didn't get some significant monetary benefit). Also you as an EV owner will have some experience of the additional savings that accrue from much reduced fuel costs especially bearing in mind the relatively high mileage of 60000km. If you do your own maths on these 2 factors then I think his loss on paper will be a lot less than 10k. That being said the manager did make an unexpected loss due to bigger depreciation/price reduction on the ID4 - maybe just not as big as was claimed. FYI I traded my 2 Yr old ID3 last year for a new Born. I got a 33k trade in value which was a ridiculously low 10% depreciation off the new price for an ID3. The ID3 has been on Carzone for a long time now and is currently asking 27k. I think it will need to drop another 2k before it will sell. The new Born has dropped in price by 2k which of course will reduce the trade in value of my car when I go change it - probably in 2026. Ultimately I went in with my eyes open and I am not unduly concerned that my Born may be worth less than I thought at that time.

Good response. Just to add to your point on some people taking a hiding. Eddie Cunningham in the Indo today- woman bought a new ID5 last year for eur 62k. Of course the car doesn't suit her now and wants to change. Car now valued at eur 40k. Yikes!!

Just saw that.

Jan EV market share was 13.0% (4,100 EV sales), versus 13.4% in Jan 2023

Feb EV market share was just 11.3% (1,860 EV sales), versus 16.8% in Feb 2023, which is quite a fall in share, when a hockeystick adoption curve was probably expected.

the year on year share would’ve been truly awful if it wasn’t for Tesla & BYD delivering 413 & 575 cars respectively, versus zero in 2023.

Big drops for all of the 2023 stalwarts - VW, Kia, Hyundai, BMW, Nissan, Renault, Cupra, etc etc.

only MG, Mercedes & Volvo bucking the trend, which is a surprise to me

2024 v 2023: by manufacturer

2024 v 2023 by propulsion:

Again, Tesla and byd really saving the blushes here

Too many EV models are untouchable at the moment due to price uncertainty.

Anyone that has a comparable offering to the Tesla model 3 and y and id3/id4 and hasn't dropped prices to those levels must be selling nothing. I think it will change but they've missed a couple of prime selling months there.

I'll have a good look at the breakdowns by model later.

The dealers are just waiting on boardroom decisions I suppose.

Kia and Hyundai were the 2 I was thinking of alright. They have great EVs in the Ioniq 5 and the ev6 but too pricey just at the minute.

BMW will be back in the running when they get some new models out and price differently.

Audi are a funny one, for all their talk about becoming an electric only brand they haven't really kicked off. Q4 never sold in big numbers, the price gap to an id4 is now huge. That should be their volume seller. Q8 and GT are range topping models that won't ever sell in big numbers.

PCP’s are geared towards moving to another new car at the end of the 3 years - given the flux in the 2nd hand market around range, warranty and everything else, I’d fully expect owners of ID4’s to simply move into another one and kick that can down the road once again.

there will be absolutely no one paying off the balloon on an ID4 that they overpaid for

Tesla, VW,BYD and others have all price certainty. Who do you think doesn’t ?