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EVs have a used car problem. They absolutely get decimated by depreciation. So total cost of ownership is higher than would otherwise be And California's EV sa

EVs have a used car problem. They absolutely get decimated by depreciation. So total cost of ownership is higher than would otherwise be And California's EV sales requirements means that manufacturers have been dumping bad/unprofitable cars into the market for years. Many of these cars barely function in colder weather, so they don't propagate out to other parts of the country.

thebruce87m 3y ago
> EVs have a used car problem. They absolutely get decimated by depreciation. I see this narrative pushed a lot, but never with any numbers. When I look at the depreciation of Teslas they seem to be 50% after 3 years, which is absolutely standard in the UK for any vehicle. What are “decimated” numbers?
- genocidicbunny 3y ago
  My 8 year old ICE is still worth about 60% of what i paid for it, and that's with quite a lot of miles on it.
  - thebruce87m 3y ago
    I’m sure there are outliers, but yours is far from the norm in the UK at least. > The average car depreciation will hit hardest in the first year of ownership. Generally, the drop will be around 15-35% in the first 12 months. And that will continue to rise up to 50% or more over three years. > Year 1: 15-35% depreciation. 65-85% of the original value. > Year 3: 40-60% depreciation. 40-65% of the original value. > Year 5: 60-70% depreciation. 30-40% of the original value. > Year 8-10: 80% depreciation. 20% of the original value. https://motorway.co.uk/sell-my-car/guides/car-depreciation-guide https://motorway.co.uk/sell-my-car/guides/car-depreciation-g...
    - genocidicbunny 3y ago
      Perhaps, but mine is just a high-trim Mazda 6, so nothing particularly exotic or special. Perhaps Mazdas hold their value better, or this is more of a US situation.
- Gibbon1 3y ago
  Lot of EV's are basically lux cars. And those always have a sharp drop in price. When I look at the non lux Chevy Bolt the used price doesn't seem that much off the tax and incentive adjusted price of a new one.

thebruce87m 3y ago

> EVs have a used car problem. They absolutely get decimated by depreciation. I see this narrative pushed a lot, but never with any numbers. When I look at the depreciation of Teslas they seem to be 50% after 3 years, which is absolutely standard in the UK for any vehicle. What are “decimated” numbers?

genocidicbunny 3y ago
My 8 year old ICE is still worth about 60% of what i paid for it, and that's with quite a lot of miles on it.
- thebruce87m 3y ago
  I’m sure there are outliers, but yours is far from the norm in the UK at least. > The average car depreciation will hit hardest in the first year of ownership. Generally, the drop will be around 15-35% in the first 12 months. And that will continue to rise up to 50% or more over three years. > Year 1: 15-35% depreciation. 65-85% of the original value. > Year 3: 40-60% depreciation. 40-65% of the original value. > Year 5: 60-70% depreciation. 30-40% of the original value. > Year 8-10: 80% depreciation. 20% of the original value. https://motorway.co.uk/sell-my-car/guides/car-depreciation-guide https://motorway.co.uk/sell-my-car/guides/car-depreciation-g...
  - genocidicbunny 3y ago
    Perhaps, but mine is just a high-trim Mazda 6, so nothing particularly exotic or special. Perhaps Mazdas hold their value better, or this is more of a US situation.
Gibbon1 3y ago
Lot of EV's are basically lux cars. And those always have a sharp drop in price. When I look at the non lux Chevy Bolt the used price doesn't seem that much off the tax and incentive adjusted price of a new one.