Electric Car Price Crash Starts

[@EzekielOluwafemiBabajide]

It's being a long time Sir, hope you are well?

[@Midnightwards666]

Hi, it's been a while since any upload, is everything all good?

[@als6226]

Very relevant topic. And you are correct, they appear to be crashing. But its not just that, the resale values have historically not been similar to the traditional vehicles. That tells you something. It should be left to the consumers as to what they prefer and would like to purchase.

[@dtc_uk]

Hello Al 👋 Thanks for commenting. Yes, it SHOULD be left to consumers BUT as always, it's not. The government has to interfer

[@als6226]

​@dtc_uk agree with you.

[@edidiongekang5809]

If these prices don’t begin to compete with routine petrol & diesel cars...electric cars will not still replace them especially as their range doesn’t encourage us to buy

[@talhamurs3279]

Falling EV prices are not due to economies of scale but rather, lack of demand and surplus supply. Consumers were purchasing EVs because of government rebates and subsidies. Once the incentives dry up, there's no charm left in EVs. Car manufacturers are struggling to shift their EV stock, which no one is buying. Nowadays, one will find EVs such as Polestar, Tesla, and kia being driven by private minicab drivers, that too, on lease. Fact is that EVs are super expensive to manufacture, hence the high markup. They depreciate at the rate of a falling stone. This can be checked by going on auto trader. The depreciation rate is almost 50% for a 2-3y.o. second hand. Then we have the issue of repair, they are almost impossible to repair and have to be written off in an event of a light accident. Because of this, the insurance for all of us has gone up due to the fact that EVs need need to be written off and replaced. At present, the way the EV technology stands, if I had to take an EV from London to Manchester for a football match, I'd need to charge it for couple of hours mid-way the journey, whereas it would take me less than 5mins to fuel up my tank. If the govt thinks almost all cars will be EV by 203, it is simply being optimistic. Post-2035, we will see EVs taking at max 30% of the market share. They rest of the 70% will consist of Hybrids, PHEVs, Hydrogen Cell and Synthetic Fuel. With the advent of Synthetic Fuel I can use my existing petrol car, which performs perfectly fine for me. There are around 40 million cars on the roads today in the UK. If each year 1 million cars are replaced, you can do the maths to figure out the internal combustion engine will still be around for another 40 years. We also have the deeply troubling issue of EVs catching fire. Few months ago a brand new consignment of 100s of EVs on a shipping vessel caught fire. The entire vessel together with the all the EVs was written off. You can Google this but you won't find it on mainstream media. We also had the Stansted Airport carpark fire caused by EV. If you got a neighbour who has an EV it's highly likely your home insurance will skyrocket. There have been numerous causes where TfL EV buses have caught fire. Due to the volatile nature of the batteries, it can take up to 10 hours to put the fire out.

[@jeffmtitanium1]

So true, people don't want to be forced into something they don't really need and can't afford. Too much green washing going on.

[@dtc_uk]

Hello, Talha 🖐Firstly, Thank you very much for sharing your thoughts with the community. You are correct to say, "The fact is that EVs are super expensive to manufacture, hence the high markup. " BUT this is changing. Evs are now getting cheaper to produce. Secondly, you say, "They depreciate at the rate of a falling stone." At the moment, it is correct as the market is flooded with second-hand eclectic cars but once again, this will shortly change. Like like or hate them. They are here to stay

[@vascularlab]

Please check your facts, the stanstead fire was caused by a diesel not EV car. Having an EV does not increase home insurance. Yes EV used cars are depreciating due to people opting to swap their cars as their lease ends. New EVs are too expensive for the average.

[@dtc_uk]

👊

[@EzekielOluwafemiBabajide]

Are electric cars more of automatic gears or more of manual gear box

[@dtc_uk]

Hello Ezekiel 🖐ALL electris cars are AUTOMATICS - no manuals

[@EzekielOluwafemiBabajide]

​@@dtc_uk Long time sir, I have not seen your new video recently, since after this electric car video. Hope you are doing well?

[@mehboobahmad506]

How much

[@dtc_uk]

Hello 👋 you need to negotiate with garage