EVs decline in value faaster then petrol vehicles.

Posted by $ TomB666 1 year ago to Economics
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As people begin to see the drawbacks of EVs we lose what little interest we had in owning them. The very same conditions that killed
EVs 100 years ago still exist. They will only survive if government forces us into them.
SOURCE URL: https://www.climatedepot.com/2023/05/03/study-electric-cars-losing-value-twice-as-fast-as-gas-vehicles-survey-growing-portion-of-us-shoppers-are-rejecting-evs/

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  • Posted by Grantus 1 year ago
    I've heard there isn't enough Cobalt in the world for even just the UK to go fully EV let alone the world. Surely the markets will reflect this fact in good time. Unless I've heard wrong that is.
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  • Posted by freedomforall 1 year ago
    Easy answer for the rational: Don't buy a new car, neither ICE nor EV.
    Instead, actually save some funds out of every paycheck and after a couple of years use it to buy a good used car for cash.
    What an astounding idea!
    Don't make the banksters and the GM and Ford traitors rich.
    Make yourself rich by not paying interest.
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  • Posted by $ BobCat 1 year ago
    Same with the hybrids. Most folks I knew who owned a Prius, made sure to trade it in (usually around year 4) on a NEW one before the batteries croaked . I can’t see an EV being much different. It’s a product of our “disposable” society.
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  • Posted by mccannon01 1 year ago
    I'll bet an EV will need a battery replacement long before an ICE needs a new motor and it will cost a lot more.
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    • Posted by $ 1 year ago
      Right on both counts. Gas engines today go a long time - I currently have a 2002 Lexus with over 214,8xx miles that still runs great, uses no oil and doesn't leak. And it can be 'recharged' in less then 5 minutes ;-)
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  • Posted by VetteGuy 1 year ago
    With the high cost of battery replacement, a used EV is a bad risk. Add to that the reduced range as the battery ages, and you have a vehicle with much less usefulness, which will be reflected in the price. And the more EVs there are out there, the more people will be painfully aware of their limitations and flaws. And thus less willing to buy one, and the downward demand spiral continues.
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  • Posted by $ AJAshinoff 1 year ago
    Considering they are expensive and disposable it's really not that surprising. I think their batteries have a 10 year life, and a piece of work to swap out, and expensive to replace. Shocker.
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