Used Electric Car Market Update May 2024
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- Опубликовано: 5 июн 2024
- How is the used EV market at the moment..? Is demand good? Are used electric cars bad? Have we been busy? Do electric cars depreciate more than petrol or diesel? Why have new premium EVs dropped in value so much?
Plus a quick solar update… how off grid are we after installing 62 solar panels plus two Tesla Powerwall Batteries?
Thanks for watching.
Richard Symons
R Symons LTD "RSEV"
EV Specialist based in New Milton, Hampshire on the South Coast near Southampton and Bournemouth
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![Tesla Taxi FULL HEALTH CHECK: Is The Battery RUINED After 430,000 Miles? [Episode 4]](/img/1.gif)
The Chinese have shown how overpriced EVs in Europe are even the second hand prices make no sense - ID4 is 17K in China and 43K in Europe
People are clueless honestly… MYP is an amazing car that got me completely healed from German car fever I was born into lol… since I’ve got it, my issues with cars finished. It’s reliable, extremely fast and super practical. It can take in so much cargo it’s crazy. How can people even have second thoughts… there is literally no ICE car that comes close… best package on the market with best value/price.
And a great nationwide service network 😅
M3P all day. No fuss, no drama, just a great car.
Tesla model Y is the best car I've ever owned in nearly 40 years, Tesla again for me ❤ thanks Richard
Never had a descent car in 40 years thats quite sad, luckily tax incentives make EV's almost worth having enjoy the Tesla.
Ioniq 5N or Tesla 3 Performance?
In Australia the choice is made more easily.
M3P = AUD$89k on the road (~46kGBP)
Ioniq5N - AUD$122k on the road (~63kGBP)
5N is about 37% dearer. The M3P is an absolute bargain in Australia.
Did not know Tesla are so expensive in the UK. In the Netherlands (and most of the EU) the M3P is €13k / £11k cheaper than in the UK. The Hyundai is also a bit cheaper but not so much. Over here the 5N is 30% more expensive than the M3P.
@@rutger1101 it's because of tax incentivises which he mentioned. 100% first year allowances for LTD - makes perfect sense. Private market suffers though but plenty of bargains in second hand market as those same LTD are no longer interested.
Fleet cars have ended their contracts meaning thousands of EVs have flooded the market. That's a good thing
@@mikewallace8087 for the longest of times the press and many people refusing to get EVs have been saying they are too expensive and there are no "affordable" 2nd hand decent ones. I dont get offered any of the tax dodging incentives to get a new EV, and as such getting used ones 3 years old still with plenty of warranty left on the battery (and likely still qualifying for manufacturer extended warranty) is brilliant. Yes some of them are higher milage but really, 50k miles on a 3 year old EV is nothing. (note i am biased as my EV i bought at 2.5 years old with 43k on the clock and is now 3.5 years old with 50k on)
@@mikewallace8087brings prices down and makes them more affordable
Buyers market
And sellers are foooked
Another great video Richard, keep them coming. Also thanks for the time you gave me when I popped in to see you the other week.
Just got my 2024 M3P yesterday and it’s absolutely one special car! Can’t wait til you get yours!
Many thanks for the update. Your energy performance is wonderful to observe and most motivating to others in a similar position. I had a quick look on our local market sites for used Tesla cars: Tesla have no used or new 3 or Y inventory. Leading site for used cars had just 3 or 4 older Model 3 at lower prices, the rest of the range far higher priced. Bizarrely, some proceed above a new car price? Thanks again.
Another great video Richard good luck on your model performance
Really interested to see how the Model 3 Performance with the LG pack goes. Some RUclips videos and dragy times out now from the US with the Panasonic pack. It’s doing 0-60 (1ft) in 2.8s and 1/4 mile in 10.9s @124mph. Personally I’d be most interested in the active dampers than the performance uplift.
Teslas are everywhere now in the UK😊😊😊
Usually see them going 60 in the left hand lane.
@@lloyd.8272exactly! Oh I don’t have range anxiety, I just want to arrive later than everyone else.
Funny you should say that but some EV haters insist that they are forever being overtaken and cut up by Teslas on the motorway!
Strange old world isn't it!
@@lloyd.8272
@@lloyd.8272 You should look to the right hand lane as they silently zip past you. 😁
Seriously though, I've never been one to hang around on the motorway, but a BEV does beguile you with its smoothness. So, if I have the time, I sit in the left lane and do 55-60 too. (ID3 driver).
I just bought our first EV the other day. A used 2022 M3 LR for less than half the original sticker price! It has 70K miles but the car is super clean. I can't wait to get it and drive it. All the hype about EV demand is just that hype, every car I tried to look at got sold before I could go and see it. I feel this is going to be a long game which is good too, slowly the infrastructure is going to improve which will ease the skeptic's feelings about EV's wont work for them. Eventually these people will try their friends EV and see the light lol. Thanks for the great content!
Funny it's alwasy the same thing Politically point out all the Good Benefits and NOT discuss any of the concerning issues. Glad it's working out for you though. I know logically we look at the Bell Curve for failure stats and feel if a car fails at the beginning or end of the curve is fine. It's how spacticularly they Fail and the FACT you can't put the damm fire in these things OUT ! the Fire will spread to everything around it. I know cause it happened in my own town. An entire lot of batteries ignited when an EV caught fire. Took them a week almost to put it out. Again glad to hear stories like yours that its working out for you. Your like the few Boat owners out there that love there boats. Where everyone else only love them the day they bought it and the day they sell them !
We bought an i3S which came from you via a friend. It's been absolutely fab, especially as we run solar panels connected to a 13.5kwh battery. We are almost off grid now that the weather has improved. On the other hand, our long term BMW 325i convertible has exhaust issues which is going to set us back a few quid and we are wondering if our journey with this car is coming to an end what with servicing, exhaust repairs, fuel costs and road tax.
The used car market is stabilising, back to the 40-50% deprecation in 3yrs as it has generally been.
Seen some reviews on the Ioniq5 N, looks amazing, the noises look like fun!
Hoping eVan prices follow the usual trend, so I can afford one with a decent range soon!
Great to see your solar doing so well!
Fun noises? I don’t drop 10s of thousands and take fun noises into consideration!
Cheers Richard
Another balanced, sensible vid. Thanks
Great video once Richard, looking forward to model 3 performance review
Just bought a model 3 to keep my RS4 company. It’s a fantastic car. I think the new M3P will be a better daily than the 5N.
For anyone interested too, that's watching in Scotland. I live in Musselburgh, East Lothian and my figures from Solar + battery (only 5kw storage) but get 15p/kw Export.
Most of the import too is the 00:00-05:30 on the 7.5p/kw too and then daytime on 30p/kw
May 2024
Generated 396kw
Export - 105kw (15.75)
Import - 423kw
Consumed - 714kw
April 2024
Generated - 361
Export - 103 (£15.45)
Import - 431
Consumed - 689
March 2024
Generated - 238
Export - 49 (£7.35)
Import - 283
Consumed - 472
Ahhh, Musselburgh...Caprice pizza, best ever!
🍕😋
On Teslas from China to the UK - or not. Either today, yesterday or very recently, Tesla Berlin produced the first RHD Model Ys for the UK.
Excellent news, thanks for passing it on.
I don’t know if it is relevant, but I have noticed the range has changed for model Y on the UK configurator? It now says 351 miles on 18 inch rims for the model Y long range.
shame, i've never seen a bad China made one in the uk
@@jolive3743 Nor have I for that matter. But the Berlin ones do come with an excellent reputation too.
My model 3 Performance Highland is also getting deliverd on June 14. But in Hamburg 😅 im so Happy 🎉❤
Just brought a i3s a week ago as my first ev absolutely loving it.
Great channel.. thanks!
Hi Richard, great video as always. I had the pleasure of speaking to you on the phone a few weeks ago about buying a used model 3, I’m now finally in a position to buy one. Been looking on your website for the last few weeks, but there doesn’t seem to be too many new ones advertised, is this because you sell them too quickly to waiting customers before you even get chance to advertise them ?
I can't see the problem.... Stellantis BEVs have stupidly high rrp.... yet a 2yr old Stellantis BEV (with a nice warranty) can be grabbed for a realistic £12,000 to £15,000. In most households a Citroën E-C4, Vauxhall Mokka, Peugeot 3008 fit their needs perfectly well. Cars about £20,000 are really not the average working man's car (especially with the current bank rates).
I'm sure the Model 3 Performance will be great.... but it'd be the IONIQ 5 N for me!
I have a secret yearning for a cyber truck, but they’re never going to come to the UK…
@@ouethojlkjn Definitely not in its current guise, but who knows what the future brings. Although if Tesla can't manage to make a RHD Model S or X, I don't see a RHD Cybertruck ever happening!
Probably already thought about this, but you should test the new M3P max efficiency with as small and light wheels as you can find and fit
new performance looks sick with the airo caps offf❤❤❤❤❤
If I sold 1 car one year and 2 cars the next my sales would be up 100% percentage means nothing without actual sales amounts of cars sold ?
Absolutely and a one percent drop in petrol vehicle sales could be over 50,000 units. I see Toyotas year on year sales in the UK or down 13%. Again it looks nasty, but who knows?
M3p for me over the i5n but would happily take either!
Having owned a m3p I would go for the ioniq 5N, crammed with technology.
What tech?
Richard, thanks for your insightful videos. I have a question about the highland M3 standard range. Do you think it can do 200-250 reliable miles considering it's only got a 57.5kWh battery? I'm considering replacing my 520i with a EV but I'm not sure the extra range on LR is worth extra £10k
Hyundia kona's m/y 2020-2021 are now £15-£16K from Hyundia dealers, at less then 40,000m, older cars can be had for around £13000, for a real world range of 230m. Tesla M3 standard range 2021 facelift model are around £20-£21k for a low mileage example. Plus its lfp battery means it can be charged to 100% all the time, plus the use of the Supercharger network.
And Dacia have just started selling their new little spring for £15,000 on the road. There really is no excuse any more not to go electric.
I'm quite surprised by the prices of Teslas in the UK. I didn't realize they were so much higher than in the EU. In the Netherlands, the Model 3 Performance costs €13k / £11k less than in the UK, making it 23% more expensive in the UK.
We’ve always had our pants pulled down on new cars here.
@@emjbee101 In the Netherlands, we've always had additional taxes on cars. Nowadays, these taxes are based on CO2 emissions, making EV's relatively less expensive but some ICE cars very expensive. For example, the Ford Focus ST is £18k more expensive than in the UK.
Tax
I don’t know what the VAT is elsewhere, but in the UK, it is a crippling 20% which is charged to every buyer buying any car including Tesla…
@@ouethojlkjn over here in the Netherlands it’s 21% VAT plus the extra BPM tax that is based on CO2 emission.
Great video
Hi Richard and team
Great update and good explanation re the buying new issue for business owners.
Are you able to give me an idea of the RWR difference I could expect moving from a 2021 M3 LR to a brand new 2024 MY LR?
Dan
What would you recommend for a used EV by about 2-3 years (2020 at the oldest) 400km range but most importantly for a family, couple car seats, stroller/pram, bitta shopping and every now and then a wee holiday (with all the luggage to go with it) ?
Another cracking vlog.
Many thanks for your info on solar & battery storage/use and off-grid benefits. Why doesn't every business owner with a large roof area get into solar/battery?
Because you have to invest a substantial amount of money and have the risk of probably worthless warranties on batteries to build into the suns. It is absolutely not as cut and dried as it seems.
There is an Asian spices company near me and they have over 1600 panels on their south facing roof.
A most interesting video as always. I have a March 2022 TMYLR, which I love, but your update on solar PV is also very interesting. I've had a 6kWp PV plus Powerwall installation at home for over three years. In March home consumption from grid was 29.7kWh, but I exported 171.3kWh. April was 0.8kWh import vs 349.5kWh export. May was 1.8kWh import vs 519.2kWh export. Pretty much all the import was at night rate to charge the battery. I export during the day and charge the car overnight from the grid at cheap rate. My export rate is a tad higer than night rate import, so car charging is cost neutral. December is the worst month for PV generation, but Powerwall does a very neat job of optimising overnight cheap rate top up so that I use alsmost no peak rate electricity.
Just leased a Skoda enquyaq via nhs 60kw
Would love a model 3 but unfortunately have a dog and a baby - the saloon isnt practical!
Weighing up whether to get an i pace or wait a year for the MY to go down in price - thoughts?
Why has the PCH price for the base RWD model y jumped today?
Hi, I've owned a tesla model 3 performance since 2021, I've noticed I can't watch RUclips 1080p or above in the car or even connected to my 5g phone with full signal or WiFi, tesla say there is no fault..
Can anyone watch RUclips 1080p or above in the car or WiFi without constant buffering? Thanks
Do you use Octopus Intelligent Go with the Powerwalls at home? I think you said you used similar to me in energy- what size Powerwalls did you get and how much are they? What is ROI? Cheers.
I think ROI is return on investment
@@mikeforwarduk yes I meant what is the ROI in years- how long for the return on investment I wasn’t meaning what is ROI albeit I can see why you thought that.👍
We need more Cowbell! I mean powerwall!
What spec is your M3P order and when did you order? I ordered on 24th April and still don’t have a delivery date!
They are available now on the Tesla inventory
M2P will be amazing. I have the new M3 highland and its night and day better than the older version.
Tesla M3 P is 31% cheaper than the Ioniq 5 N next door here in Ireland 🇮🇪.
Ioniq 5N €80k and Tesla €61k
If €5k was the difference I’d pick the Ioniq 5N every time.
What is a ball park figure for having 2 tesla batteries installed in a house?
The idea of running a house at 7.3p per kw/ h sounds great, but as always it depends on the break even and then save point.?
all the answers on 'gary does solar' yt channel
Visiting the UK, I found the charging infrastructure not particularly good. It needs more fast chargers
Solar power economics in CA is completely different here as the markets adjust to new regulations.
Do Tesla offer the acceleration boost for UK Model 3 long range vehicles?
They certainly do for the model Y and so I expect the model three would have the same. For a model Y the 0 to 60 time drops from an already ridiculous 4.8 seconds to 4.2..
8:00 Model 3 Insane has many upgraded components in suspension and drivetrain... noise...etc...
Thanks, yes Solar, let the good times roll until about mid October, OK make hay/electrons while the sun shines comes to mind.
Tesla apart from the fact I do not like the touch screen, they just look so plain and boring, so yes EV6,Ioniq,Audi, Porsche BMW and a few others will appeal. Yes I know superchargers and efficiency etc but some drivers want something a bit special.
Taycan is a nice car BUT there are issues with cooling fan failures and cabin heaters (it might have been replaced with the original heater under warranty) that can set you back £4000 if you are the second owner. Not all the warranty passes to the second owner. Why is it all about Performance when you can't drive above 30, 50 or 70 mph ? How have used lease ev's been charged loads of rapid charging ? Why is it that ev's can mainly only be fixed by the manufacturer costing you twice the labour rate per hour ? What dealer will buy a 6 or 8 year ev off you.
Recently test drove a BYD seal. It was so much better in every way than the Tesla Model 3.
I can't afford either, but Ioniq 5N >>> Model 3 Perf for me. But I think Hyundai still have a big brand image issue to overcome for many people at that price.
Tesla UK just launched free supercharging for 15k miles on all new vehicles ordered and delivered before June 30th
Richard - quick question if I may? What do you think is the market value of a 2019 Model 3 Long Range, white exterior, black interior, 19 inch sports wheels, FSD? Approx. 44K miles on the odometer. Thanks
Miles is probably an important factor
@@Lewis_Standing Thanks - you're obviously right. Added above
There are 5 on Auto trader for sale at around £20K.
Approx 3:01 minutes:
Demand is up 56%
and supply is up 16%.
Therefore prices are lower.
Now I've heard everything, I can die in peace 😂
Im convinced it's not %, if you add his previous videos up the demand is probably 100000x up
When or are you going to set up a battery repair/replacement service? 😊
Richard probably won't, as there are a number of already established independent EV specialists in the UK who carry out this work.....
So I'm strongly considering picking up a used Audi E-Tron 55, one that is a 2022 plate with less than 10k miles on the clock. In 2022 when it was new, it was £85,000! today it is £35,000. Too good to be true? I barely do any mileage, about 6k miles a year and I know the E-Tron batteries can do well over 150k without needing any servicing, so not an issue. Also the battery has an 8 year warranty on it.
Just wondering is there anything else I should be concerned about? yes it'll continue to depreciate, but It can't go much lower surely? it's a giant, luxury, high-end Electric SUV with over 400bhp, ride quality better than a GLE or X5, if it had a petrol motor in it, it would be pushing £100,000.
I've had my model 3 since last November and it's been very reliable and low running costs with overnight charging tariff. But without my own driveway and charging facilities I'd have not bought an ev.
I charge at work for FREE. I don't have my own driveway.
Unless you meet this criteria it's not really worth considering. That's the main reason EV's will never really work until we're at the point they can be charged at the same speed an ice is filled with similar range. Probably will never get there and if it does it's not around the corner.
@@huwsparky175303 It doesn't need to be refuel time compatible because there are currently enough potential owners that DO have home charging or can install it to provide sufficient demand.
I’m not sure how much research you did but even public supercharging your diesel 500 hp all wheel drive monster would need to return about 45 miles per gallon to be price competitive. I went for a trip to the Scottish borders earlier this year up and down the A1 and you couldn’t move for superchargers. What I do accept is Tarry time waiting for the charge to complete. You then make savings on no servicing and no maintenance. No more exhausts clutches spark plugs, injectors filters, oils, cam belts, cam chains or anything else…
@@ouethojlkjn Exactly. Opposing BEVs is like arguing to be poorer.
Hi Richard, I would be interested to know how much it cost to install the Tesla power walls at home. Thanks.
Fully Charged did a video a couple of years back, with Robert Llewellyn installing 2 in his garage......
Tesla Powerwall 2 around £6-8k installed in UK
Waiting on the Renault 5
Model 3 Performance, not even a challenge.
Richard, why oh why can't you put the camera on a tripod for these stationary pieces to camera. With all the subtle rocking, they make me seasick. Please.
I bought an M3P from RSEV in November on a PCP. Should I be worried? Or just ignore the fake news until I near my decision date?
If tesla are ever added to the motorbility scheme,it would add another 300'000 units sold per year in a pen stroke .
Percentages mean nothing without numbers of cars sold.
All the numbers can be found for the UK on the SMMT website. Fill your boots.
Basically the reason taycan is struggling is it's overpriced and the crash is just the adjustment..
In addition to the price premium, I think there were many speculators looking to flip for a profit. Like they do with the 911 GT3 et cetera.
As always , Market dictates the Price
Tesla Model 3 LR with 240,000 miles, who said the batteries wouldn’t last!
nice
I just saw an auto trader video on a model S with 430,000 miles on the original battery…
@@ouethojlkjn I believe my Model 3 has the highest mileage in the UK for a Model 3
@@stephenbrown3249 I know there are MG5s with north of 200k and still going strong - and they are used as work horses.
I thought the one i did a video on was the highest, its done 230k now. Have you done a battery test or simply whats your 100% range?
Hello mate
The retail prices of both EV and Hybrid are dropping like stones they are absolutely not holding their values.
I know I've got one and it's lost 10k in 2 years I'm now in serious negative equity on a PCP.
I am looking to move fully electric.
Tesla, Polestar 2, Mégane E-Tech
I'm picking up a 3 year old Hyundai IONIQ 38 kWh Premion SE on Friday. For less than a third of its original price.
I was told by a leasing company person who evaluates new cars that there are fields of EVs all over the place.
Utter nonsense, ask them to direct you to one?
That's a falsehood sprinked with a little fact.
Chinese makers don't run from their own dealers in europe, so they don't send the cars anywhere when they get off the boats.
Chinese makers aren't doing well in Europe due to European buyers not to crash hot on unknown brands.
It's a problem clogging ports......
This story has been twisted into something it's not, ev,s everywhere in new car graveyards because no one wants them.
Why don't you just get a used f150 lightning with V2H?
In the UK?
So who is prepared to lose a fortune on the new price and who can afford one in the first place, let alone trade it in for another after 3 years ? It is good to read all these letters from satisfied customers but I simply couldn't afford one or afford to replace a battery, let alone the frequent replacement of tyres etc etc !
Very interesting, thank you. Visited a JLR dealer at the weekend to discuss trading in my model 3 against an F-Pace PHEV to be told that they were not taking Teslas as trade ins apparently because of the nose dive in prices due to the ban on petrol and diesel cars being pushed back to 2035. Doesn’t seem to be borne out by your figures. Hmmm.
Dealer talking down a competitor trade-in…surely not!
Too risky for them as Elon just randomly changes new Tesla prices on a whim.
Tesla sales in Aus are down a massive 64%. So Elon dropped the price another 5K. That's over 10K price drop in 12ish months. Ford did this to their customers back in the late 90s early 00s and ruined any resale value and loyalty.
@@edc1569 to match demand with production you mean.
Why would you do such a downgrade?
I’m 47 years young and when I suggested to my wife I was looking at the Hyundai N she said it screams of a mid life crisis !! Performance model 3 it is !!!!! . I was surprised she said it as I’ve had Golf Rs RS6 , M3s etc .
Absolutely a midlife crisis. You are in the correct age bracket, so go for it!
@@javelinXH992😂
So that's the Used EV market. Nice one Richard. Funnily enough, I'm hearing that the new BEV market has taken a big upturn. so, the rate of growth is increasing again. That means people were never NOT buying increasing numbers of BEVs, it was just that the increase was slower. It's now speeding up again. I do hope a BEV hater/denier is reading this. 😁
Also a factor may be the European Union deciding hybrids were not as environmentally friendly as the auto industry told them they were - dieselgate 2.0?
Wait for the electric gate when everyone realises digging for chemicals to feed heavyweight BEVs is just as bad as fossil fuels
@@MarcusOliver2006 But we dig them once per car. Not forever, as in buying polluting fuel. Plus, there's no waiting needed. All the data shows that, from ore to operated vehicle, BEVs end up being cleaner.
👍
Great news and more and more EV's are coming on our roads!
More ev's are coming to sit at the port unsold You're deluded😂😂😂😂😂
We have an ionic 5 on lease great car but would never use my own money on these, I would not buy a used electric EV as the warranty is a must our ionic has been a frequent visitor of the dealership
Rich u gotta get the Tesla please
Performance is pointless because it's fast enough already
Tesla P3D is such an incredible deal even here in the UK.
Ioniq 5 N is way overpriced for a Hyundai no matter the noise gimmicks
Richard, the last couple of videos you've mentioned about solar, and the potential for businesses to save a fortune by putting solar on the roof, I know of a not for profit who will put solar on community project or businesses for Zero capital outlay, and then share the savings, the aim is to spread as much solar as possible, I'd love to discuss this with you so you could consider giving them some free publicity on your channel, if you are interested reply to this message I'll call you to discuss next week, thanks.
The cayanes are cheap partly due to the end of the business tax deals but more because they dont work 😂
I would much prefer the Tesla Model 3!
When are you getting a solar panel for your head 😘
Tesla Model 3 Performance all day. Apart from the aesthetics, which is absolutely subjective, TM3P excels in every other department. With the capability of the car joining the robotaxi fleet and the considerable increase in value the asset will command it’s an absolute no brained to any rational, car loving individual.
Brand new Nissan leaf……..£13000 off savings 😂😂😂
Hyundai Ioniq 5 N over the Tesla... but then, because of Elon, I wouldn't buy a Tesla unless it was the only EV on the market (and I loved the Ioniq 5 from the first time I saw it).
Ioniq 5N, anyday
Indeed a great car, but it’s way too expensive for what it is. Once it comes down in price, they will be hot property!
You say “demand is up 56%”, but you give no explanation for what this means. If it’s just clicks on a website … people aren’t going to take that very seriously. It’s very noticeable that you never explain what it means.
I'd like to take an Ioniq 5 N and dress it up in standard Ioniq 5 clothes.
Sleeper-tastic. :D