Electric Cars Suffer Worst Depreciation
Discussion
Oh dear..... and who thought they were the new future.
Punters are not stupid. They are pups:
http://www.telegraph.co.uk/motoring/green-motoring...
According to CAP’s figures, when broken down into fuel types, electric cars were worth on average just 20.2 per cent of their list price after three years, compared with diesel and electric cars, which retained 44.7 per cent and 43.6 per cent respectively.
DEPRECIATION BY FUEL TYPE
Fuel type/average retained value after three years:
Petrol/electric hybrid 45.3%
Diesel 44.7%
Petrol 43.6%
Electric 20.2%
Punters are not stupid. They are pups:
http://www.telegraph.co.uk/motoring/green-motoring...
According to CAP’s figures, when broken down into fuel types, electric cars were worth on average just 20.2 per cent of their list price after three years, compared with diesel and electric cars, which retained 44.7 per cent and 43.6 per cent respectively.
DEPRECIATION BY FUEL TYPE
Fuel type/average retained value after three years:
Petrol/electric hybrid 45.3%
Diesel 44.7%
Petrol 43.6%
Electric 20.2%
Other than the Tesla, surely the only other 3 year old all electric cars on the market are either the G-Whiz or Renault Fluence, considering the G-Wiz is crap and other is French, 20% retained value is pretty generous imo, I imagine Teslas are keeping the overall percentage up quite a lot.
Apart from the G-Wiz are there any 3 year old electric cars, or has he extrapolated the figures?
edit: "CAP analaysed the prices paid for used cars up until the end of October 2013" - what of, the G-Wiz and the odd Tesla roadster?
The Fluence and the Leaf seem to be available at about 50% list price from nearly new, so perhaps the latter, and with battery lease costs on top...
If I can have an i3 or Tesla at 20% of list in 3 years I'd be delighted.
Wonder what the disparity in value will be between the i3 EV and the Rex, you think they'll be at at 20% and 45% respectively at 3 years?! If I was buying new think I'd hedge my bets with the latter however.
edit: "CAP analaysed the prices paid for used cars up until the end of October 2013" - what of, the G-Wiz and the odd Tesla roadster?
The Fluence and the Leaf seem to be available at about 50% list price from nearly new, so perhaps the latter, and with battery lease costs on top...
If I can have an i3 or Tesla at 20% of list in 3 years I'd be delighted.
Wonder what the disparity in value will be between the i3 EV and the Rex, you think they'll be at at 20% and 45% respectively at 3 years?! If I was buying new think I'd hedge my bets with the latter however.
Edited by danp on Thursday 28th November 13:02
steviegunn said:
Other than the Tesla, surely the only other 3 year old all electric cars on the market are either the G-Whiz or Renault Fluence, considering the G-Wiz is crap and other is French, 20% retained value is pretty generous imo, I imagine Teslas are keeping the overall percentage up quite a lot.
I don't know which cars they used. I can't think of a 3 year EV that was worth about 26.5k and is now worth about 5k. Synchromesh said:
Great success! For once "Technomatt" has something positive to say about electric cars!
Many Thanks....Give it a few years and dealers will be paying you to take their used stock.
Also note:
'Figures showed that councils across the UK have spent £7.2million on electric car charge points and that many are hardly used.
Data obtained under a Freedom of Information Act request by BBC Radio 4's You and Yours programme reveal one in six councils had at least one point not used once at all over the past year.
Less than a third of authorities had a charging point being used on average more than once a week'
This may well prove to be a good thing for electric cars. If 2nd hand they become cheap enough to be worth buying, then usage may well pick up.
I'd never pay £25k for a Nissan Leaf just to save £50 a week on fuel, but since they're about to dip under £10k, then financially it becomes a more appealing proposition.
I still wouldn't, cos they look crap.
I'd never pay £25k for a Nissan Leaf just to save £50 a week on fuel, but since they're about to dip under £10k, then financially it becomes a more appealing proposition.
I still wouldn't, cos they look crap.
Terminator X said:
Afaik people are getting round that by leasing them, pity the poor fools who buy instead 
Leasing doesn't make depreciation miraculously disappear. The actual owner of the car still gets hot by it. That will flow directly through to the lease costs (unless somebody decides to subsidise customers). Ozzie Osmond said:
Terminator X said:
Afaik people are getting round that by leasing them, pity the poor fools who buy instead
Leasing doesn't make depreciation miraculously disappear. The actual owner of the car still gets hot by it. That will flow directly through to the lease costs (unless somebody decides to subsidise customers). TX.
SSBB said:
"The figures don't take into account the Government's plug-in car grant of up to £5,000 towards the price of an electric car, or any discounts on list prices..."
In other words, it is treating a 20k car which includes a 5k subsidy as being a 25k car which has already depreciated by 20% when the first owner buys it. Has Matt not noticed this, or is he just being disingenuous?
Technomatt said:
Oh dear..... and who thought they were the new future.
Punters are not stupid. They are pups:
http://www.telegraph.co.uk/motoring/green-motoring...
According to CAP’s figures, when broken down into fuel types, electric cars were worth on average just 20.2 per cent of their list price after three years, compared with diesel and electric cars, which retained 44.7 per cent and 43.6 per cent respectively.
DEPRECIATION BY FUEL TYPE
Fuel type/average retained value after three years:
Petrol/electric hybrid 45.3%
Diesel 44.7%
Petrol 43.6%
Electric 20.2%
Maybe if you bury your head in some sand then it will all go away and you can forget your irrational "hatred" of electric cars???Punters are not stupid. They are pups:
http://www.telegraph.co.uk/motoring/green-motoring...
According to CAP’s figures, when broken down into fuel types, electric cars were worth on average just 20.2 per cent of their list price after three years, compared with diesel and electric cars, which retained 44.7 per cent and 43.6 per cent respectively.
DEPRECIATION BY FUEL TYPE
Fuel type/average retained value after three years:
Petrol/electric hybrid 45.3%
Diesel 44.7%
Petrol 43.6%
Electric 20.2%
;-)
Any new tech, that has a short life time due to continual development will be a) initially expensive and b) depreciate heavily. How much are mobile phones, for example, worth 2nd hand.
To date, most electric cars have been niche products with a vanishingly small market share, (G-Wiz anyone) so of course they have limited second hand value. But, that is changing, and changing fast. Cars like the i3 are moving the goal posts. In another 3 years, i suspect the situation will have reversed tbh, as the cost of gasoline/diesel continues to rise, and owners start to realise how reliable and maintance free an EV is (compared to say a modern diesel engine)
Fast Bug said:
Hi Matt 
I do like the fact that the Fluence is the main picture, and it wasn't around 3 years ago
So the G-Whiz loses a truck load of money? No shock there! The Fluence hasn't got class leading residual values either, show me a saloon car in that sector that does!
Hi Renault Salesman I do like the fact that the Fluence is the main picture, and it wasn't around 3 years ago
So the G-Whiz loses a truck load of money? No shock there! The Fluence hasn't got class leading residual values either, show me a saloon car in that sector that does!
Please direct all concerns to CAP Automotive.
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