That’s irrelevant Gareth, I’m just looking at prices of vehicles for sale on Autotrader.Originally Posted by Gareth-W
Your assertion is that EVs depreciate at an alarming rate, I’m just pointing out that thru are no worse than ICE in general.
You mentioned Kia so I compared an EV6 with a BMW 520d and found very little difference.
Ok, so someone who has 2 businesses in this exact automotive sector for almost 19 years is making an "irrelevant" statement. Right, ok..............back to "just looking at Autotrader" on line for you then!
Isnt that the same logic as being a 'watch specialist' having read TZ!
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On the other hand, regardless of your previous experience, Autotrader is where many people buy and sell their cars, including professionals. So the figures quoted by Dave+63 support his assertion when yours isn't really backed up.
If your business experience is relevant, by all means share your knowledge but please back it up, as it translates in the real world.
'Against stupidity, the gods themselves struggle in vain' - Schiller.
My own professional experience is current, past and wholly relevant. We have access to all the relevant Trade pricing platforms that the industry work with and see the changes and trends every single day and in actual transactions completed in the retail and auction sectors. Autotrader is a fine customer facing website for looking at cars/retail asking prices but it has no relevance to the wholesale or Trade pricing trends I have referenced. We also have access to the Autotrader Trade side (the "rear" of the on-line site you would look at) where a wealth of data is available for industry only subscribers.
And as for the figures quoted by Dave+63 I'm afraid they are not relevant without factual context and specifics. The list/asking price for a car seen for sale on-line vs. it's retail asking price (be that privately or with a Trade reseller) some years later is just not an accurate metric. Also that Autotrader on line "comparison" offers no commentary on any specific trend and an asking price is, obviously, not a selling price.
Here are a few Trade insight links to read, should you feel the need to broaden your knowledge on the EV market per se;
https://cardealermagazine.co.uk/publ...t-month/288053
https://www.am-online.com/news/deale...uptake-plummet
https://www.am-online.com/news/used-...-auction-sales
https://www.motorfinanceonline.com/f...ices-inflated/
Thank you. It makes for a much more informative thread.
'Against stupidity, the gods themselves struggle in vain' - Schiller.
I don’t disagree with any of what you’ve said, without enough data, it’s not possible to state anything as absolute. My example shows two points on two possibly very different depreciation curves.
That said, those reports you’ve linked to also need context, certainly the Autotrader one. Yes, EVs may have the highest depreciation over the past eight to ten months or so, but what was happening before that? If EVs held value much better than ICE then the current high depreciation should level out somewhere close to ICE values? Certainly, as consumers, we all like a bargain and if EVs become too cheap they will be snapped up and prices rise again.
Whilst it’s your job to predict future trends and values in order to operate a profitable business, as a consumer that isn’t so important for me as I don’t change my cars regularly.
At the end of the day though, two fifty grand cars will both depreciate down to scrap value over time, where on the curve you enter and leave the vehicle will determine what it ends up costing you.
Last edited by Dave+63; 13th October 2023 at 10:16.
I never said that your experience is irrelevant, but my business activities are in this instance.
I see that you work in this sector so presumably you are looking at trends and predicting future massive depreciation of EVs compared to ICE?
I can only look at the current prices and have commented on what I see. If you have insider knowledge on how things are going then I’m sure we’ would all be keen to hear about it, especially if it could save us all money in the long run.
Last edited by Dave+63; 12th October 2023 at 12:27.
We work in the asset finance (Automotive and Aviation/Marine as well) and leasing market where predicting future residual values are core to the financial make up. These are, typically, over a 1-4 (sometimes 5 years as well) year window into the future. Plus we also work on the absolute true "live" values (EV's and ICE's) as well and that experience has shown the huge drop off in the EV market specifically since Q4 2022 and has not abated this year at all.
The best free advice anyone with this experience and knowledge could do is (as I had posted earlier in this thread) ensure that if an EV (any BEV) suits your lifestyle and purpose that it is purchased in a "protected" financial way i.e. funded, and not bought outright, with a guaranteed residual value, so via a PCP (where the GFV is shown) or PCH/BCH agreement (where the end life value is not seen by the agreement holder)
Or buy a couple of year old used EV. Someone else has taken the massive depreciation.
Not directly related to any EV but to charging. If anyones on octopus and charges at home, theres a great app called octo-aid. Once download you can add your MPAN number which pulls over whatever account you're on. For me its Agile, you can see all the usage data and lots more. I have however noticed a charge calculator. Input your battery capacity, state of charge and target charge level and its will go off and calculate the best and cheapest time to achieve the level of charge you require. I know some are on overnight tariffs but if you're on variable its a very handy tool.
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