in hindsight or at the time?
Most of the 0% deals are on hp which is a larger monthly commitment usually. I think I got 2.9% on my PCP which isn't to bad
As part of changing to my new Born last year my 2 Yr old ID3 was valued at 33k eur approx in exchange. Effectively I had eur 4k depreciation on the ID3 bought new for 37k approx in 2021 - or 2k per year. I think this will be a positive offset to whatever resultant depreciation I will see when trading the Born in - probably in 2026. So far the only "additional depreciation" beyond standard depreciation is about eur 2k reflecting the current price drop in the new Born.
FYI - Germany already doing geothermal lithium - one of the largest deposits in Europe and one of the largest geothermal deposits too.
https://www.reuters.com/business/energy/vulcan-energy-starts-its-first-lithium-chloride-production-germany-2024-04-10/
plenty of 0 percent pcp
https://www.kia.com/ie/purchase-guide/offers-and-promotions/242-offers/
Tesla have been doing it on and off aswell
Sorry should have said VW
Obviously cheaper car prices would drive some new car sales, but it’s hard to see it having a large effect, considering we’ve had huge price drops to the top 2 selling EVs form 2023, the model Y and ID4, and they are -47% and -58% respectively.
It heavily suggests price is not the problem.
0% pcp when the cost of money is 4,5% means someone is cutting a cheque for cost of the credit, or giving a discount without calling it a discount.
Clearly at the time. When you were probably saying EVs are amazing and petrol cars will be unsalable in x years she wasn’t so easily led. Hindsight has proven her view correct.
what's your point, that's blatantly obvious.
I was probably saying?
So you predicted the current ev depreciation curve? You are rare sages.
That's not necessarily true. There's a FUD led perception that EVs are expensive. People with no real interest won't bother checking to see if that's true or not. That's how FUD works.
I wonder if the depreciation we are seeing now is more a factor of unrealistic price increases EV's for in second half of 22, back then demand outstripped supply so the manufacturers could get away with it. Covid made things nuts as well. People were able to trade in 2 year old cars in 2022 and get nearly as much for them as they paid new.. never saw that before and dont think we will again for a while.. a lot of folks must be coming to the end of pcp deals on evs bought in 2021/22 in the next 12 months and I'd say most will want another EV. Is there any numbers of people going back from EV to ICE? or hybrid. Unfortunately the combination of factors has really added fuel to the fire for the doubters or slower adopters..Im the only one in my close family with an EV and they were all shocked when i was able to change again into another id4 without a substantial loss. They were all lined up with a big 'told ya so' All i ever see in the media is the downsides of owning an EV.. i never see much about stories of owners where they can do cost to coast journey's and still have 50% batteries left, that you can save substantially on fuel costs with home charging etc.. and that people are able to trade in cars without incurring huge losses. Its not all a bed of roses.. i do think the home charger situation can be a big gotcha for folks in older homes.. having to upgrade wiring is something ive never heard a car dealer mention and its a considerable additional cost.
I think it presents a distorted picture when you show that the ID.4 has seen 58% price cuts, if you go back to the prices people will have paid in 2021, they've not seen anywhere near as high a price cut.
It's funny how quick people are to forget the rapidly escalating car prices and only remember the late '22/early '23 prices. The 204HP ID.4 Life was listed as €45,001 in 2021, and €56,435 in 2023, the refreshed entry ID.4 Pro for 2024 is now listed as €43,010. Has the car seen a €13,000 price cut or a €2,000 one?
June 2021 ID.4 Product Guide
May 2024 ID.4 Product Guide
it’s not just EVs that have seen the massive price hikes .
My OH bought a Skoda Karoq for €29k in 2021 . The same spec car now sells for €42k . That’s a near 45% increase in 3 years .
The only good thing is that she got a very good price in trade in for her new EV this week
My point is a cash buyer may (or may not) get the same savings, which means the 0% pcp shouldn’t be taken at face value.
that's all conjecture, only way to find out is negotiate both and see what works out better, even so it won't become apparent until 3 years later.
I mean that sales are down 58% not the price.
I suppose what I’m getting as is that this year there is a very strong ‘perception of value’ on the Y and ID4 and yet sales dropped hard.
People are allowed to keep their hands in their pockets when it’s very clear there’s been a lot of scalping going on, and the industry is clearly still in flux. It’s a lot of money buyers are spending.
No one likes a bad deal, whether it’s at the supermarket, or a €50-80k car.
I was in leafy Dublin today for a quick meeting and I parked next to a blue 212 M3 LR (€66/67k?) and all I could think about was the absolutely terrible value that car was for that buyer. No FUD, no ‘mainstream media bias’ - just a bad value purchase. The owner mightn’t give a toss, but I’ll bet that they do, and they have the “cost to change” argument well rehearsed.
Ahh I get you. From a PCP point of view, I think 2021 ID.4 owners who have reached the end of their term are in a decent position, they're looking at trading a car they purchased starting from €45k for one that's now starting at €43k.
As to your experience parking in Dublin, I focus on whether a person has enough room to open their door without dinging mine. My sympathy for people who take a hit on the purchase of a new car is non-existent, I just can't feel sorry for the people who can afford to buy a new car who then lose money if they choose to switch to another car because other people can now buy that car for a lower price.
What I find interesting is the move to phev which seems to be coming in a fair bit more expensive than EVs.. for example the Tiguan phev coming will probably be 60k? You can get a nice id4 for 50... I get they remove range anxiety and potential EV running costs for commutes etc but if you are paying so much more than an EV I can't see the long term value.
that’s cos there isn’t any value in them. I can see them collapsing in value second hand when the penny drops with people.
The value people see in PHEVs is undoubtedly linked to the idea of still having the comfort of an ICE engine when needed.
Never needing to charge on a trip and refuel as normal - ie fill up with petrol.
Charge only when convenient - ie at home and/or the workplace while doing normal other stuff.
People often focus heavily on a journey they might only do 5 times a year.
And they see the PHEV as been able to operate as an ICE vehicle for those journeys.
But they can run in EV mode for local journeys in the comfort of knowing that they won't run out once there's petrol in the tank.
A lot of folks buying new PHEV’s because they can’t get diesel’s anymore in a particular model or the premium for the diesel version is too much of a price jump.
Stayed in a friends holiday home in France. There is a charging area with 10 or 12 chargers about 300m down the road from the holiday apartment. It is locked with only access to the people from his complex. He told me there was a charge added on to the apartments to buy the field and put in the car park and chargers. Everyone had to pay this and each person can then get a card for access if they want it and they then pay with that card when they charge. Those who use it have to pay an annual fee to get the card. The price doubles after a certain time or amount of energy consumed he said so people arent just leaving cars in the car park blocking it. A few hundred meters down the road there is another one, presumably for another group of apartments.
We were using go car for a while as one of us was using our car all the time. Found that there werent enough of them tbh. Otherwise they would have been great. Usually when i wanted one there was none available. Not always, but enough that it stopped me using them. If they had enough gocars that there was always one available when you needed it then it could easily replace having your own car.
Most likely a reflection of the growing interest in hybrids and electrics cars. . By the way, speaking of convenience, I recently found an article listing the best coupon sites. It might help save some money when shopping for different essentials!
Eamon Ryan was ridiculed for suggesting this but he was somewhat right. Might not work in rural villages but might work in an urban setting better.
Occam's razor.
pretty much more of the same in July - here’s the whole year so far:
EV market share of 13%, overall volume down 24% (also down 24% for July alone).
Electric cars by month: 2024 v 2023:
By manufacture, all of 2024 v 2023:
Falls across the whole market really, the only ones with gains are ones with new models released.
by model:
There’s a number of car models from last year that have disappeared, or large drops in sales this year, such as the Zoe, Corsa, Mini, Honda E, 2008, 208, eTron GT, Mokka, EQS, MachE, iX, Taycan, ID5 and some others.
Do you mind me asking what she traded the Karoq against? We are in the same boat with a 222 one and thinking of going electric.
