EV Sales Dropping Fast | What's Going On
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- Опубликовано: 21 май 2024
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Here's my experience.
Back in 2021, both myself and my best mate were in the market for new cars. I paid 36k on a Merc CLA (nothing fancy, just the 1.3 AMG Line) and he forked out 62k on an Audi Q4 Etron (again, nothing fancy. Just the 35 S Line).
3 years later and we're both in the market for new cars again. Both cars are in excellent condition, both cars are below average milage (mine is extremely low at just over 7k, he's on 28k) and both cars have full dealership service history. As far as creature comforts are concerned, both cars are pretty similarly spec'd, both cars carry the same number of people and whilst his car is slightly taller giving more height in the boot, mine is deeper in length. The biggest surprise though is that the 36k, 1.3 litre Merc is more powerful and significantly lighter (thus quicker... trust me, we've tested this thoroughly! 😂😂) than the 62k EV Audi.
I've not had a single offer on the Merc BELOW 26k on part ex, he's not had a single offer ABOVE 24k on his Q4. Over 3 years, I've lost 10 grand in depreciation, where as he's seen 38 grand get up and walk out of his wallet on that Q4. Neither car is going to set your hair on fire, but that Audi is a joke! 62k for a car that can't break 0 - 60mph in anything under 9 seconds and can barely hit 100mph at the top end. 62 grand!!
There is NO WAY that whatever day to day running cost savings he's seen on that Q4 come anywhere even close to offsetting the cost of fueling my car over those 3 years, once you look at how much each car has deprecated. With the amount his car has depreciated, he could literally have paid the screen price of my motor from new.
His Q4 is undoubtedly cheaper to run on a day to day basis, but over his ownership lifespan of the car, it's absolutely mugged him! Whatever he's saved each day on running it, it doesn't come anywhere close to 38 grand. Infact, nevermind 38k, I'd say that it's not even saved him 8k. I spend no more than 50 quid a month on fuel, so let's be generous and round that up to 2k over the 3 years, so even if you take the depreciation on my car AND factor in fuel costs too, I've lost 12k, bringing my real world ownership loss down to 24k on the part ex valuation and running costs outlay of the car to me today... or put another way, pretty much the same price of the best offer he's had on the Q4, which cost him 26 grand more to buy.
Needless to say, he's going back to ICE with the cars he's looking at now.
Thanks for highlighting what the EVangelists don't want to acknowledge.
@@ghunt9146 Expensive mainstream cars loose lots of money, expensive cars that were over priced in the first place and the wrong spec loose even more. EVs loose more money at the moment, great secondhand buys bad to buy new.
You’ve both just decided to flash your cash and got stung. Why would you spend so much on a badge ? You think you have a point here but you have literally just shown how foolish both you and more so you mate are. There’s a plethora of other vehicles petrol diesel and electric which would not have resulted in such a waste of hard earned money. Why would your mate not have done his homework and spent his 62k on a Tesla ? Imagine the awesome vehicle he would have got for that money and guess what! The depreciation would have been a fraction of what the Audi is. It’s just incredibly stupid to make your post here and think people are going to not think you’re a complete idiot. But I guess that goes hand in hand.
Educational, and concurs with what I have been hearing too. One slight observation: Mercedes do have a somewhat better resale value over most other brands because of the quality.
That's because his Audi was hideously overpriced when he bought it, and he's seen the depreciaton reflect that.
On the other hand, he's been thinking he's driving an Audi for 3 years and he has.
You've been thinking you've got a Mercedes and you're driving a Modified Renault Megane.
I see you baby.....
If EVs are so brilliant, why do they need government support?
...because its a newer technology which has extra costs involved so prices are higher and governments need to meet emission reduction targets in the future, also remember the foccil fuel industry already gets £B's in subsidies as well and has had for years!
@@markreed9853 EV market share peaked around 1910, before IC made them redundant. Ever since they have only existed to the extent that massive subsidies keep them on life support (and now looming mandates). Ironically the only subsidies oil companies get are for 'green energy' investments, I'd be all for dropping those also.
Why do the Petroleum Industries get subsidies and special deals?
@@JohnRoss1 Ironically the only subsidies oil companies get are for 'green' energy investments, so I'd be for cutting those also.
Hi James, greetings from Oxford. I went BEV in September 2019 with a BMW i3, still have it, still love it. I’m not convinced by the premise of your video. Just looking on the roads here in Oxfordshire I see more and more EVs every day. When I first got mine, I got excited every time I saw another EV. If I did that now I would be in a permanent state of mania! I do think new car sales are lower at the moment, but this is not specific to EVs. We have high interest rates, a recession, a war in Europe. So it is hardly a surprise that high cost items like new cars are not flying out of the showroom (or web site).
Think that's spot on Simon. The visible increase in EVs in the Warrington area where I live is dramatic over even this time last year.
The same can be said for the west coast of Scotland
There is conflicting data out there - but absolutely clear that with second hand prices for a car with few thousand miles on and less than a year old at HALF the price of new then why woudl you buy new?
But biggest drag factor (in my mind) is that excessive costs of rapid charging now make it unattractive option vs fossil fuel - at least for those that can't charge at home and/or must travel long range consistently.
Having a large number of chargers out there now is not the same as having functional working and easy to use charging network
This is absolutely a factor I can agree with, recently decided to go with a PHEV for my uses as it simply isn't economical to pay 70p/kWh (petrol costs less, you can get about 20 miles for that!), at home it is much cheaper on certain days.
If you are doing higher mileage, an EV doesn't make sense right now unfortunately due to greed of the public fast charge networks.
@@mwmmGreed you say, how much does a kW cost the Charge Point Operators? Including CAPEX and OPEX? From building it, including interest rates loans re-investment
to having it up and running, including service, folks att back-end, app, banking services and fees, all electric bills, IT programs, and so on. After that, how many kW per day and per year does a charging station sell? Do a maths experiment and calculate how many kW minus all costs and you will see that the charging industry is not a profitable business.
@@Harrythehun yet Tesla sells kwh at half the price of most rapids and they are superior charging points. I doubt they sell at a loss. Also just 3 years ago there used to be many at 35p/kwh. The price of electricity doubled ...but the baseline infrastructure didnt so why double cost? Now that electricity prices have dropped back I notice charging prices havent. They are a rip off and have stunted EV take up. Perhaps because BP, Shell...etc own so much of infrastructure this is deliberate.
So gulleys outside ones terraced house.
Very funny, have you tried parking directly outside your own property.
What world do you live in.
@@NevilleBagley I know many people who do. Everyday
Fool Cells need three times the energy to power a car.
I don't know your source for UK ev sales, but the SMMT site shows a slow in growth, but NOT a drop. There is a shift to leasing which is shown as 'Fleet' but that is also private lease deals.
We have another jabbed💉💉💉💉💉SMMT are government backed.😂😂😂😂😂
All car sales are down, it's called a recession.
I think you've found the new focus for your channel - fighting misinformation and providing balance in the debate and exploring solutions for those that cant use an EV so easily. (years ago, it was enough to talk about the cars themselves, but everyone does that now).
It is hard to fight misinformation when he is literally posting misinformation. Actual data shows EV sales are absolutely not dropping around the world, not even close.
The 'price' issue is somewhat mitigated by the current availability of used EV's, getting say a Zoe for £6-7k with a 200 mile range is now available to all.
Some new builds in and around London are not being given planning permission for cars parking spaces due to the fact that they think public transport is sufficient so no need for a car
I think the sales are less… but I’m a current petrol driver… own a civic… my wife owns a Honda Jazz… what we need is better pricing of EV’s… VW is doing this next year with the release of the ID 2… £22000 -plus a 200mile range plus.. this is what manufacturers should be doing to make this more affordable! So my wife’s getting this car once it’s launched next year.. I’m going g to get a Model 3 6 months later… to be fair to Tesla, their prices have be static… the rest of market need to produce cheaper cars… maybe follow VW way forward…
Isn't it obvious? More people now are aware of the pitfalls and they just don't work for many people. They have terrible depreciation, more expensive, outside of warranty they are a massive liability, that battery gets even slightly damaged the car is basically a right off! They aren't going to help global warming, only clean up the air a bit in our cities, but hybrids are good for that too. They aren't really less expensive to run than a good hybrid and have a load of range and charging issues that hybrids don't have. It's not about what someone's granddad drove, it's about what works for the individual. Stop demonizing people that choose a different propulsion technology that meets their lifestyle needs.
Virtually all of what you wrote here is untrue.
Used EVs aren't particularly expensive anymore and Stellantis cars are generally available with massive discounts if you look around. I rent out a flat and parking isn't allocated and there isn't enough of it so I think the answer has to be rapid chargers hitting the same convenience and cost as traditional filling stations
Not sure where you are getting this data from? January to April 2024 growth globally is a 22% increase over the same period last year. Is that a drop in sales?
You listening to government backed SMMT data again😂😂😂😂😂😂
@@jamie-hb8gy No!
Hi James I've been going to St James hospital in Leeds in my Zoe GT, the multi story carpark has ten floors and today the last few spaces were on the roof. They have 12 x charging units, they are all on but were all taped off, been like this for months. But I lost count of electric cars parked up, more Tesla but lots of MG's, Kia, Zoe and a few others! So things are changing fast! Whatever they say in the news. Just heard Tesla sales up this month by 40% in China! From electric Viking.
As an NHS worker, i can vouch that the NHS lease scheme favours EVs heavily, and many folks use the scheme as its a very simple 'no fuss' all inclusive package that was also mildly useful in reducing gross salary when pension growth could lead to random massive tax bills (less of a problem now, however, so maybe not as much of factor). BIK was also favourable back then. So an NHS car park might be a bit misleading and could over represent EVs slightly. AT my trust, the top deck is literally wall to wall Tesla, Polestar, iPace, Kia and even a few Porsches. That said, the scheme has allowed many of us the time to get used to them, and i wouldn't go back now unless i had no other choice.
EV sales slow down is related to company car market saturation of EV cars
long term the price of an EV car HAS to drop in line with a petrol car oof the same make etc.
Personally I am a fan of EVs (big fan in fact), but I am exactly one of those people living in a flat in an apartment building and I have NO way of charging at home.
Electricity prices at public fast chargers (at least where I live) are such that it's actually cheaper to drive a gas vehicle with an LPG conversion than even a relatively efficient EV...
Given all of that and the fact that I live in the poorest country in the EU, I am not very surprised that only rich people seem to drive EVs here (in my small town I can count EV owners on the fingers of my hands)
For EVs to truly become mainstream, everyone has to have access to cheap charging options which would make them much cheaper to run than ICE vehicles and cheaper to own and operate in the long run.
Apartment buildings (often with hundreds of flats each) are actually the norm in my ex-socialist country, so I don't know how we will solve that problem, but here's to hoping.
Electricity is everywhere, even road lamp posts. It’s just a case of wanting to connect chargers. Much easier than installing broadband internet for example and that happened quickly enough when the benefits were understood.
Wrong.....
Ev slovely growing 22% this year!!!
Been listening to the government SMMT again have you😂😂😂😂😂😂😂
@@jamie-hb8gy Unlike yourself, which has zero actual data to offer.... 🤣🤣🤣🤣🤣
The drop in Tesla sales is only due to updating the Model 3, Y, and building out the Cybertruck. Next year sales will spike. FSD is coming.
FSD... Dream on! Elon's been saying that more years! Probably more than a decade!
Nope. Uncertainties about Tesla due to Musk’s random behavior and his declining interest in cars is going to tank Tesla sales. EV sales in general are going to decline.
I don't know if there's an actual drop in sales, but I do know that as much as I love my EV I'm not in a hurry to get another one for a lot of reasons. One of the biggest is that I'm sick and tired of them being made into computers on wheels. That is completely unnecessary and it's a huge turn-off for a LOT of people. I want a car that just happens to be electric, not a rolling mass of bugs and half-baked "features", and the LAST thing I want to be is a perpetual beta tester. There's no reason that EVs should be more tech-heavy than ICE vehicles, and in fact they are an opportunity to make car much simpler. But they're telling us that we want all this tech just like they're telling us to buy SUVs (that aren't even real SUVs anymore, they're just heavier, less safe and less capable wagons).
The Cybertruck isn't a truck, it's an SUV, and unfortunately the EV tech is now bleeding over into all the ICE vehicles. And the only reason for it is to keep you hooked and paying through the nose for service to stuff that is dumb to be putting in vehicles anyway, and force obsolescence on you so you'll buy a new vehicle every two years like many people buy phones that are also artificially obsolete. More tech=quicker obsolescence. And no, OTA updates aren't a great thing. What is MUCH better than easy updates is something that never needs updates because it's not computerized and never gets obsolete, coupled with much more opportunity to personalize with standard components (like car stereos USED to be...)
For example, I paid for FSD on my Model S, and even have the computer upgrade, but by the time FSD actually comes around it won't even be possible to upgrade my car to it because everything will be different, not just the computer. Cameras, sensors, actuators, everything.
If Tesla is "more a software company than a carmaker" then they are a miserable failure. I love my Model S, but in SPITE of the software, not because of it. And they've gone a long, long way in the wrong direction since 2017.
My next EV will NOT come off an assembly line. I will convert an older ICE car that I already like and isn't subject to all the planned obsolescence built into current vehicles. Older than 2005, and the older the better. I'll be easily able to change, repair, upgrade and modify everything from the audio system to lighting. Anything that doesn't make the car go or stop used to be fair game for even the least mechanically minded. Now it takes a full custom shop to do the tiniest modification, like upgrading a crappy stereo that now is an integral part of the dash instead of being a standard size and shape.
I have a similar experience. From what I have read/seen (grain of salt, of course), BMW i4 might be your fit. Looking to get rid of my S for the switch.
I think the issue is misinformation and ripoff prices at fast chargers. If the price per kilowatt came down to the same price per mile as petrol or diesel cars. More people would buy an EV if they didn't have to pay £90 for about 200+ miles when on a road trip, making it far too expensive for even a seaside day trip. The price per kilowatt should drop by at least 30-40 pence😃
People are now fully aware of an EV's logistical restrictions, the achiles heel that is lithium ion battery degradation , elevated purchase price and possible extremely high repair costs with anything to do with high technology items or the battery from a very small pool of repairers, alongside a massively lower second hand retail price. The result is nobody wants them. I personally have learned my lesson with my just over 8 year old EV, that has only covered just over 40 k miles but has now suffered 42% battery degradation. Your example also, a whole new extremely expensive battery after 7 1/2 years in your model S. Who wants that ? Most people's choices are made around money and if you haven't got much to waste, you always choose the reliable, safer bet, mature product option, that is an internal combustion engined car.
Well - in contrast I have BMW i3 and a tesla Model 3 with 90k miles. No discernible or measurable degradation on the i3 and maybe a 2 or 3% on the Tesla (if I put the aero wheel hub caps back on I could recover the maybe 5 to 10miles loss in range from 300miles experienced). I'm very happy. Chances are battery will outlive me (I'm 59). That typically is reflective of the experience of most out there. Unfortunately looks like you brought a lemon.
p.s. Don't believe you can't wave the cost argument anymore. Like for like they are nearing price parity . . And if you buy a low mileage less than year old EV second hand, it will likely be half the price of a new similar ICE car and last twice as long.
EV, love the tech.. Hate the price.. Added to UK leccy prices, leccy cars are not for me.. Hard enough paying the huge leccy bill for the house 😢😢♥️🇬🇧
Easy to explain: the wealthy liberals who wanted an EV have them. It’s a poor choice for ordinary families.
EVs don't save the planet 😂😂 they save the bank accounts of those who get the green 💵
Drop government subsidies, and watch EV sales plummet.
In the US the average driver pays $567/mth to own a car.
Robotaxi should only cost about $150/mth at $0.25/mile for the average person.
Why buy a car when you can rent one for so little money?
Because not everyone is "average"?
New homes need to adjust to the times. Home solar energy and battery storage are now more common.
Electric vehicles are becoming more popular every year. Every garage should include a 220 volt outlet and electric vehicle charger.
Every new home and business should install a rain water collection and storage system along with solar panels.
Even in areas where rain is infrequent it is crazy to waste the little rain that does fall and waste it.
We need to stop planting green lawns and switch to local native plantings around homes.
It is crazy to plant lawns and build golf courses in dry desert areas. We waste too much water and electricity.
the future is electric. Wind and solar energy along with electric vehicles are the future. Stop using fossil fuels. There is a climate crisis.
Actually, Tesla sales continue to increase but have a look at used EV sales! They have massively increased! That’s why some drop in other makes New sales will be accounted for as well as other makes prices not being adjusted like Tesla’s! Most makes are charging over 9% APR when Tesla now offers 0.5% APR
Battery electric or diesel electric isn't a new propulsion tech. It's been around since the beginning.
I believe workplace charging is the key to unlocking EV ownership across a broader cross section of society.
The other factor is that car dealerships are still absolutely clueless when it comes to selling and servicing EVs. We probably have met market saturation for early adopters who are prepared to do all the research and legwork on owning an EV.
Yeah, I don't buy that re saturation. I think that's what the FF industry wants us to believe. They run that line in Australia but 84% of us live in detached houses and drive no further than people in the UK. EVs are much better than they were, charging continues to improve. As EV market grows the FF industry is going to fight back harder and harder. This is more about cost of living and maybe a pause. It doesn't help when government flip flops.
I think people are fed up to the teeth, having invested in this EV nonsense, is having to plan in detail how to get from A to B without assistance from Apps and a multitude of way of having to pay for electricity. Added to that is time wasted for charging and extra costs of coffees and food for their families. And this is just for starters!
you are right of course but people are much more aware now of the failings of EV's as well, particularly related to logistics and the achiles heel that is battery degradation. The battery degrades just being sat there, as well as when it is being used as my EV has with 42% degradation over 8 years and only 40 k miles, hopeless !
🎉arbitrarily pricing, make’s residue value next to nothing, in other words, no one can sell their old EV, SHELF life literally as warranty period😂
Nobody should buy a new car of any kind. Lease new, buy second hand, unless there is a real deal. 1-2 year old cars are available at great prices and low mileages. That's my next EV, current one is 4.5 years old and still very viable.
EV sales dropping. And the proof is that they have doubled in two years. Right!
People in the UK need to snap into reality and figure out the UK is not the "world" by any definition. In the USA,. EV sales are going UP, as is clearly shown here:'
"In 2024, electric car sales in the United States are projected to rise by 20% compared to the previous year, translating to almost half a million more sales, relative to 2023."
and here:
"The number of electric cars sold globally in the first three months of this year is roughly equivalent to the number sold in all of 2020. In 2024, electric cars sales in China are projected to leap to about 10 million, accounting for about 45% of all car sales in the country."
and here:
"Mar 4, 2024 - February saw plugin EVs take 92.1% share in Norway, up from 90.1% year on year. Following the recent tax changes, BEVs were above 90% share."
When people do zero research before posting videos, they just make themselves look like a bunch of clueless 🤡🤡🤡
Well he has grown up quick James!!
What you are saying is that Tax Payers will have to subsidise EV vehicle sales and their ultimate recycling. Insurance generally will also have to be higher - because of the tendency to write off EVs
Nonsense.
Another great common sense video. Keep up the amazing content James!
Are you in the UK?
If so your talking rubbish. EVs are outselling ICE vehicles.
😂😂😂😂😂😂😂😂stop reading media garbage and go to some dealers and ask,Most people don't want them.
@jamie-hb8gy don't need to go to dealers. The sales are recorded by the Society of Motor Manufacturers and Traders. They publish new car sales figures monthly and used car sales quarterly. I'm quoting their data.
You apparently are quoting something you smelt on your finger.
@@Burz69sales that the dealers are registering themselves perhaps, to avoid the quota fines ?
@stevezodiac491 no.
@@Burz69 SMMT is just another organization that has a price,I work with car dealers and know the staff personally and we all know who's been bought by the government,We have the proof of sales with our own eyes looking on the forecourt,you've just been taken in like most EV idiots.
Nobody will warranty the battey. The its worth more than a used car. So buying a second ev makes no sense.
Where did *that* come from?. Batteries typically gets 8 year warranty and/or 150,000 miles (ish). In reality it is know they typically do more than 200,000miles.
James here has a video showing a replacement Tesla battery at ~£10k which he got after (I think) more than 200kmiles. Expensive? yes! - but then so is a new engine for a fossil fuel car. I know from experience what these will cost when the old one has ended its days. Unfortuinately for me I had two ICE cars in my past where the engine totally croaked (seized) before 100,000 miles.
@@bbbf09 Im selling my three year old hybrid because the warranty is only three years and no third party will cover it. I don't want to be stuck with the bill if it fails.
@sounduser I wouldn't really bother with a second hand hybrid. Battery is relatively tiny so fuel savings plummet as its capacity reduces. With an ev though if u buy a car that had 200 mile range when new you are still going to get 180 miles second hand. Perfect as a second car. Typically have 8 yr warranty on ev battery too.
@@madonemt over the last couple of weeks we've been around all the major manufacturers of SUV size cars in our area. And they didn't really want to help us. They made it seem like their EVs were covered for unexpected range loss. But not total failure.
Didn't get any pushy sales men that we were expecting.
Research suggests batteries seem likely to outlast the rest of the car. Certainly tallies with our own experience of running a first gen EV - battery was in pretty good shape but one by one all the bits in common with ICE cars were wearing out.