Electric cars depreciate 10 times faster than gasoline cars
How's it going EV evangelists ? These toy cars are totalled when the cost of battery replacement is greater than the car value in about 8 years They just belong in the trash can after that https://www.nbcnews.com/nightly-news/video/study-finds-electric-vehicles-lose-value-more-quickly-than-gasoline-powered-cars-209800261735
NBC News
OP called all Tesla drivers out for driving disposable cars. All Asians in Irvine, CA are offended.
Tesla stocks will only rise after this study if the market maintains it's usual self.
Couple points here to consider. 1. There are typically deep federal and state level incentives for these when purchased new which in turn drives the used value down. These calculations are probably not factoring in the $7500 federal tax credit when they are looking at what the original owner sold their vehicle for. 2. Technology changes fast, especially with EV’s. I’m sure part of the steep depreciation curve comes from rapid change in technology. It was just a few years ago people were actually buying EV’s with ~100 miles of range. Those vehicles are no more and of course will see steep depreciation. In addition to new technology for faster charging, more self driving features, etc. 3. Most EV’s would fall into the luxury category which typically has the highest depreciation rate regardless of ICE or BEV.
> Technology changes fast, especially with EV’s. I’m sure part of the steep depreciation curve comes from rapid change in technology. It was just a few years ago people were actually buying EV’s with ~100 miles of range. Those vehicles are no more and of course will see steep depreciation. In addition to new technology for faster charging, more self driving features, etc. This isn't the EV flex you think it is. A better way to say it: "EV technology is so immature that what you buy today is essentially a prototype that will be worthless in 8 years. Enjoy lighting your dollars one fire."
QQGGLL - what a stupid take, EVs are perfect as they are already. Faster, quieter, better tech than anything ICE or Hybrid. Only idiots think cars are investments that make you money
ICE is old technology. Apart from interface improvements, you aren't seeing significant improvements generation after generation, so overall car value depreciation is pretty linear. Electric cars are new, we're seeing significant improvements to all aspects of the technology every year, including the batteries. When things are improving that fast, the value of old cars drops much more since the newer cars are much better than old ones. This really isn't that big a deal for electric cars as a whole, you're just either dumb or a shill.
Sure ICE is old and dumb. But it all feels too 1st gen to me. We bought a tesla mylr, and I still hate charging it. On a long drive: Refuel an ICE - 5m job almost any pump/vendor. Charge this thing - min 30 minutes. Daily driving: ICE car needing refueling once every other week. Tesla - Top up daily at home, or at work. Miss a couple days? Back to 20-30m charging. It’s hard for folks like me who look at a car as a means to getting from point a - point b to digest the inefficiencies of charging. Again like I said before - 1st gen problems. Still.
Hybrids are probably the sweet spot for now if you're concerned about charging times. Hybrid plug ins are amazing if you predominantly drive locally. And ICE isn't old and dumb, it's just going to get less cost efficient over time as energy becomes less reliant on fossil fuels as a whole. I've got a sports car and I love driving it, but the hybrid minivan gets way better mileage.
Try buying a used Tesla and come back to post here
Everyone I know who bought Tesla is looking to sell it.
In things that never happened
I have an M3 as my second car and a Nissan but I’d gladly get a Tesla for my daily driver.
A lot of it is because Elon dropped new EV prices by a lot. I say give em the $46B 🤡
you will soon have nowhere to sell your ICE… the poors are going broke as they can’t afford ICE repairs
Click bait title based on market cycles. Two years ago they would have posted that they appreciate the most. Only idiots who can't understand market trends fall for this
What? It’s a comparison against gas cars in the same time frame. How do market cycles affect EVs differently than ICEs during the same time frame?
There was high demand and low inventory after the pandemic, prices surged. Used EVs were selling way above their purchase price. Now pick specially the peak and compare against a moment when there is high inventory due to circumstances like Hertz inventory fiasco. If you pick 2019 vs 2021 you will see the opposite result
Good! Make it affordable for everyone.
Think you miss point not many folks want to buy used EVs mainly because of questionable quality (see used Tesla), frequent price cuts and rapid revolving tech. Only thing right now holding up the sales of new ones is federal tax credit. Funny enough my folks sold their used 3 yr old Rav4 hybrid for 3k profit shows where the demand is..
Rapid depreciation makes it *less* affordable