2023 Used Electric Car market stats - how is EV demand? Plus whole year solar savings revealed.
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- Опубликовано: 7 янв 2024
- Firstly a big thank you to our staff, customers and all our RUclips followers and subscribers. We do our best and it’s always humbling to receive such a loyal following with so many kind words to say.
So in this video I share a summary of 2023 statistics for the Used Electric Car market compared to petrol and diesel market trends.
Are Electric Cars still in demand?
It’s now also a full year of our solar system so I share the detail on that. How much did we save?
We look forward to 2024 and hopefully meeting more of our followers.
Best wishes
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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Affordability in the 2nd hand market is ESSENTIAL to expand EV adoption - keep it up!
I'm a Tesla owner in Canada and have watched your channel for the last few years. If there was a dealer like yourself nearer to me, it would be my goto for purchasing an EV....Knowledgable and passionate dealers like yourself are what the industry could use more of!
Thanks for giving a clear view of the market using actual data. The world has turned.
New EV demand started ramping up significantly from 2020, which now means these cars are appearing on the used market - almost flooding the market.
I myself gave my Polestar 2 back in December, after 3 years.
In the next few months I’m going to be buying my first EV. Going to get a Model 3 (hopefully). That’s largely thanks to all your videos and information you put out. Really helped me, so if you see this, thanks a lot!!!
👍👏🤝
I just bought a Model 3! Which version are you going for?
Are you sure, when...
Missing indicator stalk (crucial on UK roundabouts)
Hits objects as no ultrasonic sensors (Richard did a good video on this)
Vision wipers that never work
No air suspension
No HUD
etc
😕
@@harmony3138vision has definitely improved since that test, I’d love to see a retest actually
I’m a 56 year old mechanic and I can honestly say my mod 3 is the best present I’ve ever bought ! It’s addictive 😊
Thanks for all the great content in 2023. Really appreciate that you are able to share your EV practitioner expertise and insight, and do it in an authentic, informative and engaging way, rather than pumping out formulaic reviews or click-bait gimmicks (mostly..). Maybe people have not had enough of experts after all?
Your road test of the Ioniq vs Leaf vs Zoe was instrumental in me getting into EVs and in particular the Ioniq 38.3kW which I LOVE!
Thanks for the 2023 round up Richard and all the best to you and the whole RSEV team for 2024
Dan G Shrops
Thanks RSEV team really appreciate the content and the good humour, nothing to serious or divisive here
Love your channel! If I lived in the UK you would be on my go to for an EV. I picked up my new 2023 Tesla Model Y on December 2023. Tesla had great discounts on Model Y's for in stock vehicles. Hence I pulled the trigger and took delivery on the last day of year. Your review of the Model Y made a difference. Thank you for your sense of humor and great insight.
what did your MY replace ?
How do you feel now ?
Thank you for all the videos. Most informative. Will keep watching as long as you make them. Wishing you and yours a healthy, prosperous 2024.
Thank you for being honest about the current EV situation. Glad you had a bumper year!
Have just bought our first ev. Delivery next weekend. It’s a small but cute Honda e Advance. Would never buy a new one and this one’s 3yrs old with 11k miles. Perfect as our third car for short local commutes. They’re rare, look cool, cheap and fun. Can’t wait.
Richard .. Best wishes to you, your company and your family.
You’ve always had undoubted integrity!
Well done for 2023!, and I wish you a great 2024! Looking forward to more videos… always fun and interesting to watch.
From what I can tell, Autotrader's "Demand" figures are based on counting clicks on car listings. A more accurate word for that number, IMO, would be "Interest". Relying on customer clicks as a measure of "Demand" seems like a mistake. This probably helps explain why values are falling even though Autotrader's "Demand" measure is rising.
I did 30k miles with my M3LR, degradation and depreciation had me switch back to a diesel. Still have an ID3 for some local duties. The hits are pretty hard if you want to cover distance and switch cars every few years. Feels great to have 700 miles range again. Total cost of ownership of an EV isn't known until you sell.
I'd say 40% depreciation in 2 years, but ICE is not much better. The best thing is to not add on bits, alloys, boost packs etc as you loose this come resale.
Quality summary. Thanks
Shouting out from Auckland
I started 2023 looking and planning to leave the year in an EV…which is exactly what I achieved. Now driving a MY RWD I love it and it’s all down to videos and information from yourselves. Thank you all and Happy New Year 🎉
Drove. M3 highland ! Wow ! utterly phenomenal
(MY LR AB owner )
Female viewer from rural Pembrokeshire 😀
Hi Richard
Really enjoy your channel and look forward to more videos. Would like to see more comparisons between vehicles, particularly those you can run for a longer period.
Brilliant, Richard, long may to keep us informed, and entertained! 😎
This month is the first time secondhand EVs on autotrader have topped 20,000 available. Every month. We currently have 20,000 vehicles available from the 90,000 sold in 2020, 2021 saw 190,000 cars sold by the end of the year I estimate there will be over 60,000 vehicles to choose from. We will see 2019 cars like the taycan fall to between £20,000 and £30,000. Any cars with a range of 200 miles will be practically worthless.
Thanks for another year of excellent content. 👏
Watched your channel for a year or more (?) now. Very informative and taken us all to “the tipping point” 👍 personally I need the used market to drop, but that’s all in the scheme of things
I enjoy your content, keep the good work.
Great to hear that all is going so well and thanks again for all of your content as I have very much enjoyed it and looking at the new Model 3 Highland for my next car!
I bought last year, as second hand values were fabulous
Like many, I really appreciate your contributions to RUclips. Proper information and legitimate opinions based on actual data and being in the industry are much needed to counter armchair blowhards with no real knowledge!
Thanks for your end of review and a mention off Sydney being one of your top viewing Cities as that’s where I’m from and have been with you pretty well from the start your doing a great job and enjoy the channel very much.
Richard can you do some reviews off the BYD EVs the Atto 3 The Seal and the Dolphin thanks.
Happy new year from Stawell, Victoria Australia... keep the content coming 👍
👋 hi, will do! Thank you for watching. 😊
thanks and happy new year uk MY owner enjoyed your videos
I bought a Tesla Model Y after watching your videos. Thanks for taking time to do what you do!
And I hope you like it 😂👍🤝
@@RSEV absolutely love it - cheers 👍🏼
Output from my smaller solar installation on the Sussex Coast in 2023 was 7% down on 2022 but about the same as 2021. So there is a possibility that you could get even more savings in 2024.
Ah I definitely found you through the self parking video lol. Just got a model 3 in December!
Thanks for the content, surprised your watch time is down
Worrying times for Fisker sadly 😢,great video guys ,bring on 2024👍😉💪
Many who now own Fisker, say far better than Tesla :)
@@harmony3138are you telling me they actually exist? I thought they were just made up 😂
@@CommunistMonsterbuggy software,poor vehicle quality,I guess sadly that’s what happens when you don’t own your own factories and get someone else to make them,I really hope Fisker pull through as I really like the Ocean.
@alancobbin fingers crossed, more competition is only good news. Tesla once struggled with build quality so maybe they just need time
@@CommunistMonster if you look at there current market cap time unfortunately is something Fisker doesn’t have ,especially when their over £1billion in debt.
Glad to see you are doing so well. Keep it up and good luck for 2024. Will be interested to see you review the Fisker Ocean. Do you know when that might happen?
they are facing bankruptcy! 😂
Happy New year!
Thanks for providing more FACTS to use to fight back against all the negative BS out there :)
Agreed, but the majority of those people are similar to the people who, if it was 40 years ago, would be adamant that they would never drive a car and would stick to travelling by bus - or simply living a life of going nowhere. Some people cannot hack change and another persons choice.
Thanks your videos Richard I watch all time specially last two months. I’ve now brought a Hyundai iconic 5 electric top spec for 18th January so very excited be first ever electric ⚡️ car for me but it’s your channel, that’s what my attention to get one because it’s going to be a lot cheaper for me, especially with the octopus nighttime rate of 7.5ph night probably save least £200 each month I reckon and got solar installed other week some people think it’s a waste of time, but I reckon it’s the perfect time, especially as cars have dropped in price in electric version and it’s like a space rocket the iconic five just a small worry is making sure I’ve always got enough charge and finding the next EV station to charge at but if I’ve got the home charger it should be okay
Thanks for 2023, very informative. Do you mind doing a video about different public chargers? Like pro and cons or the ease of use etc. I notice a lot of new ev drivers (that you meet at these chargers) are quite lost. It’s also nice to hear your opinion and experience on these chargers. Often you show already the one you use, but I bet there are some you avoid or broken once you don’t film.
I can tell you, basically unless its a Tesla supercharger the others are a rip off and don’t work very well😂 All these bp and shell fast chargers are a rip off, Cobham services where I go they charge 0.92p per kw that was before christmas so maybe over a pound now? Tesla however charge 0.42 or 0.37 off peak hours so good price and they work without fault unlike the others😂
@@n2kos I don’t disagree with your experience in these. Unless people charge most often at home, it wouldn’t matter, but I feel that too much emphasis is often given to the car itself and not the charging network. Sometimes comparing Tesla without the accompanying charging network seems kinda strange. Therefore having Simon and its team to share their experience might give a more complete picture for ev buyers.
Ok it’s not the latest generation just out now in 2024 but there are some crazy Polestar 2 deals out there, Cars that new we’re £50k now a year old with 8-9 k miles hitting around £30k. I think we will have to get used that Cars are now changing not every five years but every year with battery tech. Who wants to buy a Car only to find a huge jump in tech is coming out six months down the line.
Glasgow 😂👍 Honest second hand sales companies in a to some confusing EV market helps a lot, keep it going.
My 3 year old Polestar 2 with 30k miles is up for sale for £27k ⚡️👍🏻
Supply and Demand this suggests the EV market is becoming saturated and take up needs to be stronger to avoid a glut of used vehicles. What works for a company / lease buyer does not necessarily work for a private buyer eg tax perks. I enjoy my model Y though its a tremendous car to drive I always enjoy getting in it too, being a market leader that covers a lot of bases should help on resale if I ever decide to sell.
Getting my first EV this year I’m getting the BYD Seal Excellence,hopefully this month
I have to say putting solar on roofs is a fantastic idea! Not extra land used and from what you’re saying here, in to profit within 3years! They are very impressive numbers for solar payback.
Evening mate or guys
The auto trader market details are great , are they available publicly?
Love EV’s, but my biggest concern about buying a used one is what happens to the value of the car when the battery warranty runs out? Surely the vehicle will become worthless in the second hand market?
Why? When the time comes, the battery pack can be refurbished at around the same cost as an engine recondition..... If you are looking to buy a used EV, the battery can be tested with an OBD via the car's diagnostic socket. This can provide you with a print-out of the battery's state of health in percentage terms......
Do you as a progressive business see BITCOIN as means of purchasing what you offer to your customers? Great videos. Things have come a long way in a short period of time. Still crack up on a You Tube video some years back about a couple of guys having an EV car race England to Scotland. With the loser running out of charge not far from the end & to finish had to get a three point lead power out the back window of a small roadside takeaway to enable him to finish. All the best to you & your team for 2024. Thanks.
Do you expect the raft of 2021+ (ie, MIC and LFP) Model 3s coming off lease this year to drive the price down closer to £20k? If so, that's looking like real value. Hoping to get a M3 SR+ before Christmas this year, just hoping the value of my current ICE doesn't tank too much in that time, or at least tank slower than M3 prices!
Allways a optimist
Life is too short for anything else. 😊
The facts speak for themselves, and they are pretty positive for EVs!
Ironically, there is less room for optimism with oil. Demand is decreasing, Shell outlined their plan to cut production of petrol and diesel by as much as 40% on the lead up to 2030.....the details of which were in Shell's last business report....
Having a cheeky test drive in a BYD atto , just to compare with my mod3 😊
Let us know what you think…
👍
If I might present the other side of EV ownership.
I've 'done the right thing' and have solar power, batteries and an EV. The EV is a great car to drive, quiet and I've never recently had any problem charging publically - especially driving through France from the UK. In fact driving on the autobahns etc. is a really relaxing experience and very quiet.
My experience is that during the winter my '273 mile range' is almost halved. Public fast charging is currently around 65p per kiloWatt, which makes running an EV on public chargers dearer than running a modern petrol or hybrid car. Dealers are now taking the mickey regarding service costs, my 2nd year service cost more than my 4 wheel drive turbo Suzuki Vitara did. No plugs, oil, filters etc to change - so what did I pay for?
The depreciation is horrendous! My contract on the EV ends at the end of the year and it is worth less than I owe. In my 45 years of car ownership I have never experienced this. My model was to get a new car for three years, swap it and use the equity as a deposit on the next one.
My insurance renewal was horrifying! Nuff said!
So, while I love many aspects of EV ownership, I'll probably get a petrol car next time.
Selling after 3 years gives whoever buys from you a bargain.
Richard, Is 'Market Health' a "Trade Indicator"? It is totally useless for us. That Volvo's MH is down 66% appears to be a pointless statistic if in 2022 they simply had limited stock and 2023 they finally cleared the chokepoints and were able to increase stock availability massively. Simple increase, decrease in sales means so much more to us. Availability is interesting as well... but "Market Health", very misleading (IMO).
Anyhow, thank you and all at RSEV for another great year of informative, interesting content and we hope for more this year.
Actually market health is more informative than raw sales numbers - the difference between supply and demand is much more relevant for future sales than historical sales numbers.
A large positive number means you can sell everything you can produce , a negative number means you have more inventory than you can sell.
Great content! Just curious, how do you calculate demand??
Autotrader calculate demand using clicks and search data from their website, in addition to 'wishlist' / saved vehicles by users and actual sales data.
So probably ev owners looking how much their cars devalued?
@@decimal1815 I see. Thank you for clarifying. But I suspect this data may be slightly misleading. For example I could be browsing / clicking multiple ads or have added several brands to the wish list. Supply on the other hand is dead accurate. Not entirely convinced the “demand” percentage is accurate.
They use sales data, as well as engagement metrics such as clicks and saving wishlist. Same as for ICE cars, which have much lower demand according to all metrics.
Toh-keh-lau (lau like loud without the 'd")
Got any advice for buying a used EV from independent dealers. I am quite concerned by reliability and expensive issues. Looking at an enyaq, need something with a big boot,. Guessing PCP with warranty extended to PCP length.
Mechanical reliability for a pure EV should be way superior to a combustion-engined car - simply because an engine is made up of 100s of moving parts, plus the clutch, the exhaust, the ignition system etc etc
In comparison, an electric motor has, basically, 2 parts...!
Oh... and, of course, no clutch, no exhaust etc
So, mechanically, much more reliable - in fact, so much so that the likes of Tesla don't actually publish a 'maintenance schedule' at all for their EVs.
The main issues around EV reliability, in all honesty, is down to software - EVs are essentially 'computers on wheels'...!
Not usually software related to the EV drivetrain, however - mostly down to infotainment and ancillary items in the car's spec which is pretty much the same story with ALL cars, really... the more electrical options you have on a car, the more there is potentially to go wrong...!
Fortunately, most newer EVs now have the ability for "over-the-air" software updates, which obviously helps.
And battery reliability has been WAY better in reality than the anti-EV propaganda pedalled by the media would have you believe - yes, of course, there have been occasions of whole battery replacements at ludicrous cost... in a 15,000 EV owner study by Recurrent, only 1.5% of EVs had a replacement battery. But, as more and more battery repair companies come on board, then those instances will reduce even further.
I would love a model y, but price is still way to high for me as a carer..
Thank you very Richard, because of your thorough explanations about the tesla model S .I bought my one march 23. I was gonna buy from you but you didn't have the one I wanted. So I bought directly from tesla. Buying a Tesla has been one of yhe best decisions I've ever made. BTW I'm an uber driver in Birmingham using an EV. If I can do it why do regular commuters moan about range on EVs. I save myself over £550 a month
Because of you i just bought a LR 2019 M3 , thanks ;) love the channel
I can't ignore the effect of the government's 2030 to 2035 ICE sales change on used EV prices.
Whats your plan for the market opening up? If Manchester is watching your show, how are you monetising this (i bought a hat)? More stock at less money.. hows that paying for your big new house? Id avoid arnold clark but id travel to rs ev.. but im in the sw
I wouldn't tell me either! Good luck!
Hi Richard
With regards to prices
We have a BMW X3
all good, we did 10 months ago buy new Renault MeganE at £40k
Disappointed putting facts into the Autotrader valuation, to find the value (10 months old remember) with only 5k miles, £25k
I think I bought the wrong car
Sorry that’s i3
i have 7 3/4 year old Nissan Leaf Teckna 30 kwhr 6.6 charger in Arctic white. It has done 39k miles and has 33% and 4 battery bar degradation. The car looks in good condition but the battery is degrading fast. The Nissan warranty looks garbage, needing to have satisfied all their requirements beforehand and only at 'their discretion' returning the battery to 9 battery bars out of 12 within 8 years and 100k miles, after an expensive battery assessment paid by the customer. How would you approach this problem, would you just scrap the car or is there a cost effective solution to returning it back to a useful range and battery capacity that does not cost more than the car is worth ?
Would be more helpful if instead of using percentages you used actual car sales figures. ie. if you sold 1 EV last year and this year you sell 2 EV that's 100% increase.
Can you address EV insurance increases. Are insurance companies factoring in replacement battery costs into policied
ruclips.net/video/IPnUf5uigvs/видео.htmlsi=XTRe7XYtrxy6RDxP
Video above. I mainly blame the “Tesla approved” bodyshops having a monopoly and over charging for minor repairs. I don’t think battery costs are a factor. I think they’re cheaper than engines
Why might they do that, when battery packs can be repaired and/or refurbished, at much less cost than replacing them?
*demand for used EV’s up 53%*
wow 🎯🎯🎯🎯🎯
Anyone on here purchased a used 2020 model 3 looking at purchasing one very soon
New car EV sales going down especially private buyers. Used EV sales going up because of huge depreciation and quite a number of people switching back to ICE. Used EV car is a good business to be in.
Any comments on insurance cost for Teslas.
Richard did a video on exactly this issue a few weeks back......
Mine is £340 a year just renewed
Denmark is a city? :)
VW Audi Porsche…when you consider how dominant the Golf was .. Well they had the opportunity to dominate the EV marketplace. Sadly they totally screwed up and now face bankruptcy.
Can you tell the CPOs that electricity has come down? 🤬
Thank you very Richard, because of your thorough explanations about the tesla model S .I bought my one march 23. I was gonna buy from you but you didn't have the one I wanted. So I bought directly from tesla. Buying a Tesla has been one of yhe best decisions I've ever made. BTW I'm an uber driver in Birmingham using an EV. If I can do it why do regular commuters moan about range on EVs. I save myself over £550 a month not using diesel, adblue and servicing etc. that money is going towards my loan for the car. It's a win win for me
Would be nice to put numbers to the percentages quoted, percentages alone are meaningless.
Hi Richard what is best Tesla for towing caravan, needs to be 1800 kg at least ?
Car dealers and traders, after a sales transaction deal with customers the sales people all laugh behind the backs of their customers after they walk out the showroom with a car because they stole a big chunk from the customer's wallet
Why has the bottom fallen out Porsche?
I could, but I won't
Very limited (specialist/enthusiast?) appeal.... Not the most practical car, hugely costly to run/maintain with Porsche's hourly labour rates.....
@@Brian-om2hh can Porsche labour cost be more than Tesla £200 hour labour costs..... Have model S
we love hearing the truth, too many places seem to just say ev's are done, there are no sales. the values are dropping but its not really the truth.
you still have the Macmaster compaining so far this year put out 5 ev videos, to join the 80 plus he has. constant complaining on the value of the car is now. So do you have any idea why a Taycan seems to his figures has lost 40K in value. was this just a car Not worth the 120K start value. which does seem madness paying that much for it. with a 2 mile to a unit and what if you watch his videos poor range. and seems to have more problems charging on ev charger sites.
I'm really pleased that things are going well for you Richard but it seems to me that any growth in EV maket is largely down to the current tax incentives offered to fleets and the huge discounts being offered to shift EVs' to meet EU laws. Private punters are looking much more sceptically than before and it'll be a long while before I buy another EV . My close friend who is in a senior position in the motor industry with a very large company doesn't see things a rosily as you do I'm afraid, every time the transporters turn up he's praying for lots and lots of ICE cars. Good luck with 2024!
utter bollox !!
EV’s are so much better, even without the incentives
your friend is a 🤡
did you watch Richard’s video ? 🤦♂️
Three replies for less than a couple of dozen words Max? I've owned three EVs' and the wife one and we both came to the same conclusion I'm afraid. Tell me, how long have you been all in on them? I'm sure they work well for some but in my experience not just right for me at this point in their development.@@maxflight777
We had fallen out of love with Tesla after an idiot salesman in their Leeds depot just plain lying to our faces.
Followed you for some years and this convinced us to have another ‘go’ .
Went to Tesla in The Trafford Centre, had a good chat with an ex-mechanic and a test drive in the Y. Ordered the MYLR with the upgraded inside and auto-pilot that week….hoping to keep it for at least 10 years, 16 months in still over the moon with it !.
So keep giving out the correct information Richard it really helps to listen and learn from EV experts such as yourselves….we almost bought another Range Rover !!
Disposable cars, don't drive up a kerb
EVs have been on a Sigmoid growth curve how far up that curve is the most important thing.
Demand for electric cars is falling. Not one of the Kia Souls i am looking at currently has sold in 3 months.
Dealers will get more money from my 10 year old part exchange than they will from the 3 year old electric car i will buy. Add on the incoming recession i can see a scrapage scheme starting soon
please move from you tube to X
EV cars price has collapsed I would rather give my money to charity then lose money on a EV Vehicle
Sorry, RS these are BS statistics, spinning as all dealers do. Demand is not there. Real EV experience? My 2020 E Niro’s value has dramatically fallen from c. £22k to £14.5k in the last eight months. It’s been a highly desired car in the second hand market based on strong reliability, long warranty and economy. The UK Govt decision to delay the ban for new ICE cars has been the single biggest factor. All the industry data is showing huge backward step in EV demand. The result for us is to delay our next EV purchase until the Labour govt restores net zero commitments and interest rates fall from this recession.
No need to watch the video, ev's a brand-new technology is not as good as it will be once big manufacturers start competing, but even then the likes of ford cannot manufacture enough electric cars to fill demand as is the problem for kia and Hyundai and nissan and vw. every car they manufacture is sold fast with a few weeks waiting times in most cases.
Damn the new kid on the block, BYD has a million orders they need to fill before you can get your car. What most supposed experts forget is that people do not need the 80 000 cars , they need a comfortable cheap car that can do at least 200 miles a charge. While 97% of trips are under 30 miles for anyone, it is the very small minority that want to travel 600 miles a day towing a ton on their trailer, expecting to charge once during a trip.They are maybe at most 1% of car owners. Yet they scream bloody murder they cannot drive 600 miles in one charge with a full overloaded trailer, claiming electric cars are an absolute failure.
Dont worry ignorant men , give it a few years, buy your f350 and use that for a few more years until manufacturers start building cars you can use. Technology is changing fast it will not be long before you can buy a car with 600 miles range, tesla promised 500 miles but did not deliver, so sad but the 1% will be served up cars that they can dive 600 miles at a time, i wish not as they are a menace on the roads refuse to stop for breaks and put other road users at risk, force them to charge for 1 hour every 300 miles will make driving so much safer for everyone.
Absolute crap if this guy beleives demand for EV's is up 91%
EV pumper.
meaningingless. Talk about putting a positive spin on an electric car market which is failing. 53% rise on 100 is only +53 cars. 6% rise on 1million is +60000 cars.
The vast majority of electric cars sales are to corporate, only 15% of a tiny marker are to private buyers.