Used electric car market update Q1 2024 plus solar production ramps up!
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- Опубликовано: 18 апр 2024
- Sorry for delay but it’s time for a used car market update - how is EV demand, are used electric cars selling, are prices falling and are we keeping busy?
Some data shared from Autotrader market insights and it’s looking better than ever.
Also how is our solar production going? The long cold dark days are behind us and the sun is starting to shine a little more!
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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I drove 2 or 3 miles through the backroads of my West Sussex home town the other day (in my Tesla). Saw over 15 BEVs, mixed brands. Clear to me people are buying them as non Tesla prices fall and used EV market grows. Very same as would have occured at start of ICE vehicle revolution. Plus more and more chargers being installed. Great video btw, very down to Earth.
As always, and informed updated on the EV market, I have two EVs, been driving them for three years now and would never go back to ICE. This is a great channel for anyone thinking about their first EV.
Great update and fantastic to hear how healthy the EV sector is, despite everyone trying to tell us that the EV market is dead. The only thing that is dead, is the fuel they use in their ICE cars!
Also good to hear that the solar is picking up again, as is ours at home and the powerwall.
I've just picked up my M3LR last week from Tesla. 21 plate, couldn't be happier, first EV. Goes like a rocket! 13k miles on the clock!
Welcome to the "Oh hello officer, I couldn't hear the engine so didn't realise how fast I was going!" club. ;)
Same here. Can’t imagine driving anything different now.
How much did you pay for it?
I just got a 2020 3, rwd, 46k miles, only 23k, traded in my equinox, I’ll never buy a gas car again, I love it!
Bought same thing and best choice I ever made all the bmw I used to have don’t even come close to Tesla :D
ordered my Model 3 RWD today, info from the channel has helped massively.
Feel sorry for you mate, you’ll regret it very soon I’m afraid
3,000k miles in and loving it.
I really appreciate these updates. The solar update reflects the poor weather in this parish also. Wishing us all more sun in the coming months. ☀️
Well done! Have been driving a Nissan Leaf for 3 yrs , changed 99% at home by my DIY solar that powers my home & greenhouse & 5 other homes that buy power from me. All of the solar equipment costs were recouped within 2.5 yrs.
In Vermont, USA. So I couldn’t agree more that solar is a very good investment!
Cheers
Amazing!
Great to see the updates and some real and honest news.
Thanks, Richard.
It's not honest it's what they want you to think and you obviously swallowed it🤦♂️🤦♂️
@@jamie-hb8gy, I think you have swallowed the BS, I know this to be honest, end of.
@@highmoorash7638 💊💊💊
Picked up a dream 2022 Red Tesla model 3 SR+ with 18k miles for £25k from a used car dealership. Few scruffs inside but otherwise perfect 😍…
I don’t understand the ‘ hate ‘ for EV’s no one is forcing anyone to buy one it’s a preference. For every Ev on the rd air quality is improved.
Just think about the where the power lies in the western world… it’s been oil and gas powered. Those industries don’t really want change and they’re very closely aligned with the regular press.
Yes they are forcing you to buy one. By taxing petrol off road
@@mattx4253 petrol is same price it’s always been. They say how much and we pay! If you’re fortunate enough have solar panels you are your own boss with an EV. They can have their free oil we can have free sunlight
Taxation is unfairly biased to EV. Not available to all, due to availability of home charging. Tail pipe emissions only, the manufacture of any car and especially batteries have an impact on the environment
Most people are fearful of change, so they lap up all the media misinformation to feed their confirmation bias.
The media knows this and feeds it, because they know it sells newspapers and increases clicks.
Simple!
Top content as always. Looking forward to the wider range of EV and PHEV manufacturer reviews!
Just picked up a 21 Model 3 Standard Range to keep my RS4 company. Great car.
Sorry, points deducted for the humble brag.
@@nealm1814 that’s what car people do you know, talk about their cars, as boring as it might be to others.
Just checked Autotrader and seen quite a few Model 3 2021 from £20K....
I think the issue with EVs is not that demand isn't strong, but that depreciation is horrific.
just the same as ICE cars, you would have to be rather army to buy a new car really because as soon as you drive it off then goes 15% min (ICE or EV).
Those used model 3 are holding value too well, I wish they were cheaper
@@jsanders100 indeed and lower second hand values will be a natural thing as the first lot of 3 year leases, PCP's and Company cars start to come through. Now they are cheaper it will spike demand which helps everyone out.
As 90% of new car purchases in the UK, are leased the depreciation is no one’s problem but the lender. What a terrible shame.
@@ouethojlkjn and EV equilivants seem to be cheaper leases suggesting car companies are offering discounts on top
Great to see the data 💯⚡️👍
Great update, Richard.
Great video👍
I'm just constantly seeing more and more EVs on the road, they're not going anywhere and people will keep wanting them, a used tesla is a great car, great prices, very low maintainance costs and extremely low running costs if you charge at home on a smart tarif, honestly my car almost pays for itself, wasn't expecting it to be so good.
Don’t mistake demand for tax incentive driven forced adoption via company schemes. As soon as pay per mile comes down the road the demand will dry up but by then everyone else will be forced in to them by government.
😂😂😂😂😂😂😂😂😂
Brimmed my tank with Octopus 🐙 £4.40 for 58kWh thats about 240miles for less than a chip barm.
@@ftb2772 brimmed my 6 cylinder twin turbo with v power. Sounds amazing. Faster than an EV. Don’t care what it costs as smiles per gallon is worth it. Bragging you can drive cheap like bragging your 1.9 tdi gets 70mpg. Nobody cares. That’s why people want Porsche 911 and not a Tesla.
Cheers chaps👍
I hope insurance companies will reduce their prices now. They have been soo high.
I just renewed my model Y long range insurance today and it cost me £50 less than this time last year. Okay, it’s anecdotal but don’t assume what you read in the media is true. Use comparison websites!
@@ouethojlkjn - you are trolling me. Every insurance for the same vehercal (EV or not) has gone up. If you want me to believe your nonsense show me the proof. Last years premium and than this years that your got. I simply do not believe you for a second. I also do not believe in father Christmas.
Cheers Richard
You seem to haunt every EV channel saying "Cheers x" lol
Demand will always be high when depreciation is so horrific. Good for the buyer. Terrible for the seller. No doubt explains why sales of new electric cars have fallen off a cliff. Vast majority of new cars are bought as company cars for cheap BIK rates. Very, very few new Bev cars are bought by private buyers. Will be interesting to see what the big manufacturers do when they all miss the wildly optimistic targets for Bev vehicle sales the government has set.
I'm in a niro and thinking about a smart #3, any thoughts?
Hi Richard do you have any info on fitting just batteries at home ? What sort of cost is it etc ?
Already have a model Y and we've just bought a year old Volvo C40 twin 402bhp for my wife. Absolute bargain compared to new price with a great google interface. Looking on the sales sites the last month the Volvo EV don't seem popular and seem to hang around. Shame as they are a superb EV. Worth a test/review Richard along with the new EX30?
interesting, looking at xc40... at just over 25k they seem like a bargain, but I think the lower range than competitors might put people off
Hi Richard
Keen follower
( in fact my daughter bought the black Mini from you a couple of months ago)
We are based in Barnstaple, and run an i3 and a Megan E
When will independent garages start to service EV’s
We can currently only use dealer servicing.
Your thoughts
Bryan
Can you post a link for market health ? I can’t find it in auto trader.
More Cowbell, I mean batteries more batteries! Lol
You answered your own question, demand up 64% BUT the amount coming off lease to the market is probably up 400% at a conservative estimate therefore ergo, demand is actually FALLING
Interest rates coming down? Are they? Ys are still well overpriced and the market will be flooded in next 12 months, lots of 2 year lease deals ending the 3 year lease deals will start coming off in early new year, Ys will go mid 20s by this time next year. Can see a number of M3LR with average mileage at £18k by September. Currently get a MY standard range for £399 a month as private rental with £3.5k deposit, be lots of stock around in next 2-3 years.
Blimey the data an Cupra Born worried me a bit. Can I get to that data myself from Auto trader or is this spread sheet something your tram put together itself? Looking at changing our Cupra for a model Y when the PCP is up for no other reason other than space. Keep looking at your stock for pricing examples and finance terms. Love your outlook on EVs Richard Thank you
😱 You have sold your Tesla Model 3 (Highland)! But you told us it was an excellent car !!!!
Where do you find the best deals for commercial energy. Do you have to go through brokers.
Are there any deals where you get cheap overnight leccy for commercial properties.
EV’s drop 60%…lol….. great deal now to buy if you don’t mind hanging around 4tmin to charge.
I’m not surprised the used EV market in the first quarter of this year has spiked, due in the main to the massive price drops in EV’s over the last 12 months and in particular the last 6 months. On average they are losing 50% of their original inflated values over the first 2 years of their life. So this sales uplift is completely distorted. I do agree that Tesla’s are a little more immune to the volatile EV market, but this has always been due to their charging infrastructure, which is very good indeed. Think of that poor Taycan driver who likely paid £120K plus for the privilege, to find you can buy a 2 year old one for around £50-£60k. It’s a shocking loss. I’ve just owned an EV for 2 years and I have just gone back to a petrol hybrid. OMG I am so relieved to be able to drive where I want without the quite terrible and expensive public charging network. It will take us at least 10 years to get this where it needs to be as we are so bloody slow in the UK to invest in this going forward. We are a laughing stock compared to France for charging infrastructure. So much more to discuss on the EV front, but it is not the sole answer to our future propulsion options.
You have to consider that putting petrol in a vehicle is far from cheap either. Or replacing the clutch or gearbox or exhaust pipe or spark plugs or injectors or oils or filters or any of the other things that keep them on the road.
@@ouethojlkjn I totally agree, but based on the huge difference in price between a petrol version within a vehicle range and an electric option, the price can easily be £10k. You won’t spend that difference on servicing the petrol car within a normal ownership period. In top of that the loss on residuals as I mentioned is greater than it is with a petrol vehicle and then the cost of replacing the batteries at some point after 10-15 years makes the whole argument of having an EV currently is still a false economy. E-fuels are the best way forward. Porsche have developed one and it just needs scaling up in production to make it affordable for all. It would go straight in the current fleet of tankers, who could then distribute this throughout the current network of petrol stations. No need for a completely new infrastructure, which has fallen flat on its face to date and the carbon emissions of Porsche’s E-fuel is about the same as it is to create and dispose of batteries front end and back end of their life.
Those 120k Taycan would most likely have been bought through a Ltd company knocking around 40% off the purchase cost taking vat and CT into account. They will be just fine.
@@richardcorns8553 Hi Richard. That may well be the case for some Taycan drivers, but I know 3 people who have privately purchased either a Taycan or a GT, so it’s not a given that all Taycan will be purchased by Ltd Companies.
@@simonrussell6372 You need to add up the cost of petrol for 15 years of driving for a fair cost comparison, plus servicing and maintenance of the vehicle, replacing at least one exhaust system in that time and possibly a turbo, at least one clutch. Possibly a gearbox, filters etc that I have mentioned. Believe me, I am not new to ICE cars - I have been driving a variety of diesel, petrol, EV, motorbikes for over 40 years. I know how much they cost to maintain and keep on the road.
All you do is go to autotrader and see for yourself, don't take mine or anyone else's word for it. A brand new 2023 Corsa GS EV is £19k and a brand new Corsa GS Petrol is £18k. The TCO (Total Cost of Ownership) varies with use and driver but in general, an EV and in particular a Tesla (with no service schedule) is much cheaper. And they are nearing price parity when comparing LIKE for LIKE. No comparing a runty little 3 series beemer 1.6 petrol with a 300+ horsepower Tesla Model 3. That beemer needs to be knocking out 300 ponies and somehow doing 60+ mpg at the same time. It is a shame that manufacturers except Tesla persist with this daft servicing model - I guess they have to keep those stealerships happy.
There are many documented Teslas that have covered well over 650,000km [400,000 miles] on their original battery. How many Petrol engines can manage that? They would be trigger's broom engines by 400k. I am not knocking Diesel or Petrol, God knows I have enjoyed various ones but I am afraid it is EVs all the way for me from now on. Finally, even if a battery does need to be replaced beyond a typical 8 year warranty, CATL themselves state that a 60kwh LFP battery will be less than $3k dollars to buy by the middle of 2024. This year.
I don't know about Porsche bio fuels but alternatives such as hydrogen (made with natural gas and electricity anyway) is a non starter. It is possible this might catch on IF Porsche is prepared to finance the rollout of the infrastructure to carry it's new fuel [as Tesla did and is continuing to do with superchargers]. Assuming this bio fuel is compatible with existing motors? Note that in the 60s Petrol was not all the same petrol and a car jetted for one would not necessarily work with another. We used to have 5,4,3,2 star petrol - not sure about 1 star. Though to be fair, diesel pumps did arrive fairly quickly once the auto industry had manged to fraudulently convince governing bodies that their emissions were not an issue. That whopper cost VW $35 billion. Others are still going through the Courts. The same thing is about to happen with PHEVs now the European Union has established the Auto industry has been lying about those too. I guess they will never learn.
👍👍
Evening
Home vid coming?
Wow…if ev selling up, your business must be doing well. Glad you’re rolling in the money again and profit is up. We do not need to worry and can go in hard with bargaining EV prices down.
Please show a little of your home battery stats, I’m thinking of doing the same. Ta
With six west facing panels are averaging 10kwh a day in April. Would strongly recommend Givenergy battery with solar. We generate most of the days output in 4-5 hours and usually make enough for the day in 4-5 hours. In the winter you can charge the battery at night, on an overnight rate it will cost about one third of the day time rate. Make sure you get an LFP battery. Love my Givenergy system
I have 6.14kW worth of panels with a power wall. I have to go back to March 5th to see an electricity cost above 4p. The 5th was a whopping 69p 😮. Most panels are south facing with x4 NW facing. I am on the south coast, hope that helps.
I am finding myself tempted by a year old IPace as they are looking very cheap. Are they as much of a gamble as people say?
I had an Ipace for a year.It was a fantastic car the only thing that let it down was the range ,it was anything between 180 and 200 miles in the real world. I now have an ID5 ,which gives me between 280 and 320 miles real world range. It's just as funky as the IPACE.
@fsr170409 Thank you for your reply. I don't think i am brave enough for a used Jag. Glad you are enjoying the ID5. Realistically, I think it'll be an Enyaq or Scenic but it depends on the deals at the time.
@@fsr170409 whilst the I pace did have reliability issues it was a great car. Range was not strong though. So i changed it for a kia EV6. 328 range when the weather is good most times 300 miles
Always good to see the positives, amongst all the talk of depreciation
Thanks for giving us an idea on the market to us!
Be interesting to see how the market is once good EVs get to 10K, for the average buyers!
Good to see the solar keeping its end up, even with the constant rain!
Thanks, always enjoy the videos they have a nice even tone. Just part-exchanged to my second EV after 6+ years with a LEAF. I've had an idea (for you) for some merchandise. How about an RSymons branded tin foil hat with "Arhh yes but what about .........." printed on it. For the people who think it's all a conspiracy. Just remember me when you became an apparel millionaire.
UK fleet BIK has another year I think then even that will be stopped
Wow your overheads must be well low now. Hoping your selling those’d ev’s cheaper and passing on the savings
I like your vids but statistically you are looking at demand being up by 61% on a product that only equates to a total of 4% of car sales. When you are dealing with such small numbers it’s not hard for the increase or decrease to appear relevant when the difference is actually minimal. That being said, if I were to buy an EV - you’re the guy I would buy one from.
4% of a very big number will still give good stats. We're not talking about a few hundred here, but many thousands.
By the same token the massive amount of petrol cars only went up 2% ish. So, which sector is growing rapidly and which is starting to decline?
@@geoffersvoiceofreason2534 I think you’re missing the point. On such tiny numbers the increase should be hundreds or even thousands of %. I just knew this video was going to start %’s. Totally misleading.
@@johnmansfield3317 so, what would you rather have as a salary increase year on year; 2% or 61%? One man has a wage of £5,000 per month and receiving a rise of 2% and one has £1,000 per month rising by 61% per year. Clearly it’s obvious that eventually there will be parity.
I’m thinking of selling my low mileage 71 reg Mg ev on your site for a Tesla, but I’m 130 miles from you.
Why does 130 miles bother you unless the battery so badly degraded lol
The anti EV lobby always talks about feelings more than fact.
I actually think a debate with you Vs the usual propagandists would be a fun watch
I saw this and this works day and night
A small change turbo-charges vertical-axis wind turbine efficiency 200%
The Electric Viking
As usual, if you are rich, you can afford this "cheapness" - solar, battery storage, EV, home EV charging...
Just a thought, who is buying an EV now? Fleet?, Cash rich, retired? If you look at the people driving them I don’t see many young drivers except fleet/ company types. And let’s be realistic, please tell me how people who live in terraced houses that front straight onto the pavement, people in blocks of flats and rentals in houses are ever going to get a charging point, let alone the National Grid being able to cope. They are not the future, pity the early adopters.
Richard you are a YT star now lol - you need to stay on here & delegate the actual work to someone else lol
when naysayers got on about anti electric then are talking about an immature market segment still. In terms of age EV's are still babies and as more people get one, tell their friends and family it can cost zero to charge up and range is not an issue then guess what ? even tonight on Octopus agile it will only cost me 12p/kwh if I needed to charge.
But you lose thousands in depreciation and TCO is huge due to crazy insurance, home charger cost etc
@@johnmansfield3317 well you it is lower than an ICE car so thats positive ?
@@johnmansfield3317 and I should add the thing about insurance is dependent on car. However lets remeber for most new car buyers, they are either PCP , Leases or Like myself company cars. the costs therefore the issues you mention are not so great.
I like how you dont mention how mich prices have absolutely dumped for electric cars, a 70k new car like i pace etron, e mustang are 20k
He just did. He did a whole section on the Porsche tycan and how the drop loads as they are good value when new due to the tax benefits but then get left in a awkward place in the market. There's also the massive discounts available for new which give a false deprecation figure but that's happening industry wide
Fossil cars give you freedom. As soon as battery cars become the norm the government will impose geofencing on them . They will decide when you can drive and where.
That would require a standardised system for tracking, which would require every manufacturer to comply with and retro-fit. It would also require significant changes to global data sharing laws. Never going to happen.
The only way you would find me in a ev is if it was the only vehicle left on the face of the earth meanwhile I will stick to my diesel s class from 2002 as they are bomb proof
Well, there is no demand for burning batteries in cars like the Porsche Taycan or Audi E-tron GT. or other cars from Volkswagen / Audi with LG batteries, which are still not replaced since cars with LG packs are well known as dangerous in 2021. Jaguar EV, too. But they started their actions much earlierer.
🥱🤥😴
17k ev cars sold in all UK in 4 months compared to 140k petrol.. 61% of 10k ... vs 3% of 130k
Nobody cares about EVs, plus all the co2 produced just to make EV batteries can run diesel engine for an entire life time with much less co2 and less expensive battery replacements
Really? Na.
Its only tax incentive thats selling EVS
And they can write it of for scrap.
But public cannot afford to
Waste good money on a throw away EV
Buying an electric car is suicide. The government have distorted the market by giving tax breaks to businesses and salary sacrifice buyers which is flooding the market with 2,3,4 year old cars with shit specs because that’s the how the lease market works. This crashes the market with a deluge of cars nobody wants in the used market. Think Porsche taycan with the ugliest wheels and lowest spec for its model. I’ve decided that as much as I’d save a few hundred a month on fuel I’d lose all that in depreciation. Tesla is a weird one because options are limited but they are all ugly so it kind of has less impact
If you leased from new, then the depreciation is for the leasing company to concern themselves with. They cover that when they buy hundreds of new cars in a single hit, at probably £10k + less than the list price, per car....
@@Brian-om2hh you pay the depreciation in the lease cost 🤣 if you buy today you will have your arse hole stretcher by them in monthly costs
Only ONE EV in the top ten worst depreciating cars in the U.K. in 2023!
@@geoffersvoiceofreason2534 that’s because 2024 is the year they went to shit
@@mattx4253 Strange, people in 2023 reacted to something that didn’t ‘happen’ till 2024. I assume the other 9 ICE cars went to “sh*t too?
So, EVs are 5% of the market, can only sell to company car users due to taxpayer handouts and have plummeting used values…where’s the healthy market!?
Spot on;
Sorry Richard, your stats must be wrong! I have watched 3 vids on RUclips over the last few days which insist used EV sales are tanking because “no one wants to buy them” “they won’t buy used EVs because they will have to pay thousands to replace the battery in a couple of years.🙄
And they crush car parks too! 🤣😂🤣😂🤣😂 gotta love the Daily Fail opinion pieces and not actual facts! (E-golf owner loving it for 4 years and keeping it..)
I had a Nissan leaf for 4 years 40k miles never put a foot wrong only needed a set of front tyres still had 98% batt health. Don’t believe the propaganda only comes from people who don’t like change!
Don't forget they catch fire if you look at them and make 4 foot deep pot holes every time they pass by.
@@BarryMakariou Which is why I call them Luddites.
@@stulop 😂 I’m sure there was some BS daily mail about brake dust being double from EV’s lol even though after 4 year my leaf has only 25% wear
Nonsense Autotrader data. Telling fibs for years, just want you to keep you subscription going. Robbers.
So where are what you believe to be the genuine figures? Where can we find those?
@@Brian-om2hh Any RUclips anti EV clickbait grifter channel.
I bet you’re a Daily Mail reader lol.
Does the SMMT also “tell fibbs”?
You would say this because ur in the business selling 2nd hand EVs I wouldn’t touch a 2nd hand EV if it was the last car on earth bad enough buying new car dealers here in Australia won’t touch 2nd hand EVs they don’t want the expense in changing batteries it will be years before infrastructure and quicker charging will improve V8 combustion for me every day
😂I see what you did there…on “earth”. Ha ha, on an EV channel….❤
If you like V8s you owe it to yourself to try a model 3 performance. You can get really good deals on 2 year old ones, which are practically new with loads of battery warranty left. People have got spooked by all the EV negativity, so second hand they're amazing value.
Huge depreciation on used Evs. Check the battery Soh before buying - everyone wins
Have you a race mate!
1- To mine the cobalt and lithium to make your batteries produces more co2 than your petrol car in your entire life.
2- To recycle your batteries after going bad, again either you polute the ground and nature or release again more co2 to burn them.
Uneducated people is the only reason why buying an eletric when using the air quality and co2 excuse.
You could drive a w12 diesel everyday for a lifetime and still couldnt even get close to how much co2 it takes to produce and recycle your EV batteries.
Air quality in your town? Sure by a small margin compared to the cars of today.
Air quality and co2 of the planet? No, EVs are worse than petrol.