The Shocking Truth Behind EV Price Crashes: Why They Depreciate So Fast! Electric Vehicles Worth it?

[@PistonPundit]

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[@scottbullock3045]

Not sure it'll do either honestly.🤔

[@carlkuss8300]

Battery condition is the big issue. I use many battery tools,.if I buy second hand, I'm only willing to pay the value of the tool(Regardless of whether it comes with batteries or not). Reason being , I have no way of knowing how good( or not the batteries are) . Conclusion, if you can't afford a new ev then you can't afford a used one. Example £50 000 car has £18 000 Battery. You buy the car at 2yrs old for bargain price £20 000. If The battery fails your bargain now owes you £38 000. (And has resale value of £20 000 or less) or don't replace the battery and its worth scrap value(if your lucky enough to find a scrap man who'll take it, let alone pay you anything)

[@stephenvelden295]

You missed the main reason EV's are depreciating. No one wants the frigging things!

[@Evo836]

Here here!

[@paveldrechsler2620]

i have one and I am happy with it

[@TronJockey]

LOL. You probably wonder why more erudite people are quick to distance themselves from your opinions.

[@stephenvelden295]

@@paveldrechsler2620 Until you have to sell it!

[@stephenvelden295]

@@TronJockey You're wrong! I don't care!

[@nicop2423]

There’s no standerd in EV batteries, like the old lead batteries. Replacement is the bottleneck for the future of EV.

[@chriswasniowski3149]

nobody can afford them and they are a fire hazard

[@crm114.]

Most EV batteries will outlast the car.

[@scottbullock3045]

Those batteries people! I've been saying it since jump and will continue to do so.☢️💥😡🤬

[@VeryOldSaint]

What concerns me even more is when in another few years "home mechanics" start trying to do repairs to clapped out batteries. I foresee a major rise in destruction of lives and property.

[@Jrenatomqs]

EV…a complete disaster.

[@bobfuhr4520]

If you get stuck with one, you are going to have to pay thousands to get it to get it towed away, and legal problems for danger ect.

[@ddyeo503]

You know where parking is a big problem in big cities and cars get towed, if the EV life is about over, you could just let it get towed and then let the government and the tow company deal with the disposal of the EV battery,,,,,,,,,,,,

[@robertkubrick3738]

@@ddyeo503 I would say brilliant except for, just because they usually sell your vehicle for Towing and storage fees, they don't have to do that. They could just let the charges roll and when they do dispose of it you have all the charges plus the disposal fee, court costs and they seize your assets. Maybe they charge you with criminal dumping.

[@PoesRaven73]

“Etc” NOT “ect”.

[@patrickchubey3127]

This whole " save money on fuel " thing is a joke. The difference between my economy ice car's yearly insurance cost and the yearly insurance cost of the cheapest Tesla is $1,357 which is more than what I pay per year for gasoline on average, which essentially means that I'm getting free gasoline plus money back in my pocket, how about that for a saving? The " no range anxiety " thing is just gravy at this point.

[@adamhero459]

And with electricity prices increasing faster than gas, that “savings “shrinks quite fast.

[@sr76pablux]

It like a cellphone

[@nicop2423]

You buy a EV for your life! Second hand was never a option.

[@sgketocxrd4335]

I don't like a cellphone on the wheels.

[@the369truth]

Battery cars are disposable items.

[@newtonlee7849]

Think changes in cellphone technology was quick years back? Why would anyone buy old tech when EV's are currently going through such rapid change.

[@davebarron5939]

Just like .10 cent returnables, ALL battery manufactures should be responsible for taking back empty batteries of ALL kinds. This will / is a huge environmental concern that UN-like C02, is a REAL problem.

[@richardguyer3383]

An ev is companionable to an i phone. Will rapidity depreciate and get quickly out dated as tech is jumping ahead quickly and rapidly depreciating the units. It is wise to lease and not owm them as the cost to service or replace batteries is astronomical. Also lease is less then half the cost to purchase.

[@Peter-y5y9i]

I wish it was true in Australia. I'd have one in a heartbeat.

[@RacerX1971]

I will have to upgrade my electrical panel to handle the added 40 amp, 220 v receptacle. This will cost me $7k but before this i will need to get approval from my HOA, cuz technically, the garage is theirs. The panel to the garage is about 60 ft. Therefore, the cert. electrician, will need to route conduit and wires. Then, i would be anxious about plugging in my EV every night..no thanks.

[@paulgibson490]

What will happen is like a Microsoft software operating systems not compatible with older computers the car won't be able to update therefore obsolete.

[@DennisCamp-bv2uo]

Tis is a issue. You will see this after owning one. Be aware.

[@actualfacts1055]

Cars are not an investment.

[@anticorporatists9959]

The answer to the thumbnail question would be because the automotive industries that sell EVs want to make money faster through cheaply made vehicles

[@ThorTyrker]

If a product will worth dogshit in ten years, it already worths dogshit.

[@TheBandit7613]

They have no survivability long-term. Running for 5 years and scrap them You'll never see a classic EV at a car show. They have so many complicated systems yet they don't carry parts for them. No aftermarket is going to make parts.

[@jamesnasmith984]

A show of hands for anyone owning a ‘worthless EV’ that they therefore got for free. Behind the times guys.

[@vekaterava-jd2ui]

They do.....not.

[@8052royc]

It's not worth polishing an EV, it will be worthless by the time you've finished.

[@jec_ecart]

They start worthless.

[@alasdairfinlayson]

Because they are worthless! Silly question.

[@Barry-l1x]

EV batteries come with 100,000 mile 8 year warranty many batteries have reach 400,000 miles with 20% reduction in mileage. That’s the truth. Depreciation is substantial, but that has increased the sales as second hand prices now put these cars within people’s reach.

[@robertkubrick3738]

That is not the truth according to the latest Australian studies. UK people find that it costs more to fix just the charging port of a battery car than the car is worth, that's not even the battery.

[@crm114.]

The two fastest depreciating cars in 2024 were ICE cars. Meanwhilw Teslas are holding their value well.

[@euphegeniadoubtfire1364]

Of course EVs in America cost more and far more in terms of maintenance because of the simple fact that decades earlier Corporate America decided to export America's manufacturing capacity to other countries, China in particular, because they saw big profits for them regardless what it might do to Americans at home in the future which is today. China is able to produce EVs and most especially ev battery packs that are significantly less expensive compared to that is sold in America because they own the supply chain. Moreover, EVs are like commodities such as smart phones which get better and better every 6 months or so. Notice how EV charging times, in China, are getting shorter and shorter and range is getting farther and farther? Sodium Ion batteries, which are 50 times cheaper manufacture ( compared to Lithium Ion) and package for EV use is on its way for mainstream ev integration. These realities are fast approaching and will make it possible for EV manufacturing , in China, to sell EVs at prices lower that internal combustion engine cars and battery and electric motor replacement cost cheaper than replacing traditional internal combustion engines.

[@MikeJones-mz5ig]

It's a myth. Send me a link to a cheap one.

[@franknew9001]

The Hertz rental car company is dumping thousands of EVs and replacing them with ICE vehicles. Look on their website if you want a cheap EV.

[@GWAForUTBE]

EVs are the good future.

[@kokehri]

EV cars make no sense and destroy the environment. They will disappear soon. Also will be banned due to fire risk.

[@robertkubrick3738]

Battery cars are toxic waste with FOREVER CHEMICALS that can poison the ground and water for 10,000 years, today, tomorrow, next year, they will end up toxic waste.