Why Used EV Values Are Dropping Like Crazy!

Рет қаралды 1,069,883

Ай бұрын

Sell your car for free with Carwow: bit.ly/Sell-Your-Car-For-Free...
Thanks to Solera and CAP HPI for providing the data used in this video:
www.solera.com/solutions/vehi...
Every car loses value as soon as you drive it off a forecourt. Unfortunately, depreciation is just something you have to accept when buying a new car.
However, some cars seem to be more susceptible at losing value than others, and in this instance, we’re taking a closer look at electric cars!
We’ve teamed up with cap hpi to take a look at some of the newer electric cars to hit our streets, and we’re finding out what the top 10 worst electric cars are when it comes to losing value after one year of ownership.
From affordable to high-end cars, it seems no car is safe from depreciation! For example, we found a Porsche Taycan Turbo S from 2023 that only had 20 miles on the clock, and the value had dropped from £150,000 to £113,000 - that’s a loss of around £1,800 for each mile the car had travelled!
However, some cars have seen a much steeper decline in their value. But which do you think will claim the top spot? You’ll need to stick with Mat and see for yourself!

Пікірлер: 3 800

@carwow Ай бұрын

Sell your car for free with Carwow: bit.ly/-Sell-Your-Car-For-Free-1605

@zoyuu Ай бұрын

I prefer getting money for my selling my car

@God_emperor_Doom Ай бұрын

Bugatti Bolide vs Koenigsegg Jesko absolut Or Bugatti Chiron supersport 300+ vs Koenigsegg Jesko attack

@MohanSinghRajasthan Ай бұрын

Most of us are not from uk so we can't even sell our cars via carwow

@evalonious Ай бұрын

For sale: Used laptop Boasts the incredibly powerful Windows 98 OS. Im also selling a used 2023 Tycan with only 20 miles. Willing to trade. 😂

@USUG0 Ай бұрын

// in other news for a 2020 Taycan 4s performance+ (was from 90k new) are asking from 45-50k for a 2020 Panamera V6 (was from 101k new) are asking from 55-60k //

@obk1404 Ай бұрын

The person with the Taycan who did 20 miles in one year should have just ordered a Taxi instead.

@MI-qx4lc Ай бұрын

it is a Demo car from the showroom...

@douglasb.5601 Ай бұрын

@@MI-qx4lc With that mileage I doubt it was even a demo. They've just had to pre reg. it to get their quota up. There's just not enough organic demand for EV's as the vast majority of the public do not want EV's.👍🏻

@sookainian Ай бұрын

@@MI-qx4lca demo car will have way higher millage

@CaptainFishy69 Ай бұрын

@@douglasb.5601 I don't think the vast majority doesn't want EV's, they just cannot buy them, because it still isn't financially as viable.

@dariusdareme Ай бұрын

He had to buy 3 Taycans to get a GT3RS. Couldn't do miles in it.

@Huw77 Ай бұрын

That Porsche Taycan with 20 miles on it smacks of someone trying to got onto the list for a 911 GT3 RS

@l39clicky51 Ай бұрын

Mark McCann did a video about it and it’s true

@CuongNguyen-kz4lv Ай бұрын

Would've just pay over msrp for the gt3rs

@Huw77 Ай бұрын

@@CuongNguyen-kz4lv You'd still need to get onto the list by giving them business and still pay overs

@br0432 Ай бұрын

Or you could just pay overs on a used one? And then you wouldn’t have to buy anything else

@DontReadMyProfilePicture566 Ай бұрын

Don't read my name!

@thewho9112 Ай бұрын

A 15-min video which could be turned into a bar chart and read in 15-seconds

@diogotavares5823 Ай бұрын

5 seconds of my time wasted reading this comment + a few more swipes to swipe away from it

@Fosten12 29 күн бұрын

its a misleading and stupid video and title

@davidp7571 26 күн бұрын

@@Fosten12 Which electric clown car do you have on your driveway?

@Paul-gu2lv 25 күн бұрын

Matt does go on a bit😂

@Fosten12 25 күн бұрын

@@davidp7571 Subaru Legacy and Nissan March K10. I just don't like the video, that's all.

@robtt997 Ай бұрын

I have just sold our car through Carwow. Be aware the dealer takes the car and V5 away and payment is promised as soon as it gets to the dealers premises. Well, that didn’t happen to us . In fact it was just a day short of a week before we saw our money . We went though a lot of hassle chasing our money and a load of worry.If that dealer had gone bust in that week we were going to be in a world of pain either chasing our money through the liquidators or trying to recover our car. Lawyers would be needed. Car wow were useless chasing the dealer . Very disappointing.I won’t use them again it’s too risky .

@user-do2pb5pu3x 25 күн бұрын

Bad news!

@cdexplain1926 23 күн бұрын

A week ?? I would understand if it were a month but 5 days like 😂

@PeterTheGreat-wn2qf 22 күн бұрын

@@cdexplain1926 If payment is promised on delivery they have a valid complaint. Your comment is childish.

@unperdants 22 күн бұрын

We used Motorway I think it was called and they were great. Dealer transferred the money before they drove the car away and we made it clear this was a necessary part of the deal.

@JonathanMorris777 21 күн бұрын

@@unperdants Same for me. Money was in the account while the pick-up guy was with me.

@yeahitskimmel Ай бұрын

I took a shot every time Matt said "1 year old with 10,000 miles" and died

@See_more.... Ай бұрын

R.I.P.

@saywhat8819 Ай бұрын

Literally could've just wrote it in the corner of the screen lol

@H20-Paul Ай бұрын

😂😂😂

@DontReadMyProfilePicture566 Ай бұрын

Don't read my name!

@purwantiallan5089 Ай бұрын

Literally also happened to almost any kind of car.

@samatwesu Ай бұрын

Number 0 on List: Fisker Ocean. Last Year $44,000 this year 1 Fig Newton.

@sorinstefan6038 Ай бұрын

People paid 70k+ for oceans lol

@drunkenhobo8020 Ай бұрын

@@sorinstefan6038 Doug DeMuro's site had a couple for sale last year that were bid to over $60,000... and didn't meet their reserve. Wonder how the owners are feeling about that decision.

@robinok1406 Ай бұрын

💀

@jamesead9095 Ай бұрын

That depreciation is inconvenient and dangerous, but I do love Fig Newtons.

@bytesandbikes Ай бұрын

I think I'll keep the Fig Newton thanks 😆

@hkad6252 22 күн бұрын

Journalists: EVs are too expensive! Also journalists: EVs are getting too cheap! 🙄

@Umski 16 күн бұрын

Current headline is "shortage of good value used EVs" - can't make it up 🙄

@thoos192 12 күн бұрын

They are too expensive because you only get problems with EV:s. And they are too cheap because nobody wants them.

@aeronYTco 9 күн бұрын

They are computer on wheels. Expect depreciation to be real fast and huge!

@ColinFox 8 күн бұрын

@@thoos192 Whenever someone on the internet says "nobody wants them", what they mean is THEY don't want them, but it doesn't sound so impressive to say "*I* don't want an EV". That just sounds like whining, which it is.

@thoos192 8 күн бұрын

@@ColinFox Ok, a few Elon bootlicking fanboys want them. Normal people don´t, hence the market collapse for BEV:s

@grahamsmith6443 Ай бұрын

The fact that car manufacturers dropping the new prices regularly will certainly not be helping the second hand prices

@virtualcircuit 24 күн бұрын

Yep I got a new electric car and negotiated a pretty substantial discount from RRP (Which seemed insanely high) and the negotiated price was more in line with similar model ICE cars just a few thousand pounds higher. Best car i have ever owned, and glad i got it but wish manufacturers would stop playing games and just start listing them for realistic RRPs.

@KS-tz9sg 19 күн бұрын

@@virtualcircuit EVs have huge tax reliefs compared to regular cars. Therefore the vast majority of EVs are actually purchased through company car schemes which offers the employee up to 45% off in income tax saved. The employer only needs to pay 2% of MSRP in NIC as opposed to up to 37% for Diesel & Petro. When situations like this happens what companies do is to hike up the pricing so the discounted price is the real market price. The citroen C4 is the best example where inflated MSRP quickly converged with its petrol equivalent.

@kj8491 Ай бұрын

Moral of the story, Only buy second hand cars

@valentinabukal716 Ай бұрын

Only buy them on carwow😂

@billyskoda6839 Ай бұрын

Or more realistic.. never buy an EV...

@jasonpoole6284 Ай бұрын

If every one just brought 2nd hand then how would they become 2nd hand if no one brought brand new. say the same about pretty much every thing you buy.

@sinenomine4540 Ай бұрын

@@billyskoda6839 Actually, the price inflation of the cars killed it. Small EVs for short range trips and charged at home preferably from solar is just brilliant. A small EV like that should cost 20K at max, new with ~300km range. also, ICE car prices went up too significantly.

@blazzz13 Ай бұрын

@billyskoda6839 Speak for yourself. Bought an EV and I've saved thousands in fuel, and the servicing is much cheaper. Still under warranty as well.

@rafaelsays175 Ай бұрын

I think it’s the market speaking and rather than a drop in value, it is a price adjustment to what it is really worth. These manufacturers are milking the EV market until the cheaper Chinese manufacturers come en masse and force them to drop prices to reality.

@rytiskurcinskas7179 Ай бұрын

yesterday, biden(us) has applied 100% tarriff on all chinese cars. EU will do the same to kill the competition

@alexandruilea915 Ай бұрын

That's what I was thinking, where's Tesla on the list? Traditional auto makers making half baked EVs was a sign that the cars were clearly going to get depreciation a lot as it's their first gen model. And as smart people say: never buy the first gen of anything.

@Iceeeen Ай бұрын

@@alexandruilea915 I can't speak for everyone but the reason my interest has doped for new cars and people you talk to has everything to do with how especially the American brand does things. The stupid touch screens for everything kills new cars. I wouldn't mind a Electric if they where like early 2000s cars inside. A car without stupid beeps, bongs and apps for everything. Traditional auto makers in the older versions from bmw, fiat and nissan are the only electric cars that interest mildly. Cause it's a car, not a ipad on wheels

@DontReadMyProfilePicture566 Ай бұрын

Don't read my name!

@G82Watts Ай бұрын

@@alexandruilea915tesla should be on this list. He failed to mention the 2 fastest depreciation cars ever! The tesla model s plaid and model y performance literally dropped over 40k in value in just ONE YEAR! I get that ur doing over longer time periods but that fact is pretty crazy. The person that bought a brand new model s plaid literally paid 140k and in less then a year they were and are selling for 89k brand new and trade in value/used value is in the mid to low 60s in the USA. The model y perfromance was 87k brand new and now is going for 37k.

@damianpoole2933 Ай бұрын

33k trade in on a etron gt yet the average price for one with those miles is just short of 60k. Someones being shafted here ...

@jannek5757 Ай бұрын

Did he mean the value, when car is sold to a dealer? Dealer then sells it for 60K no prob...

@damianpoole2933 Ай бұрын

@@jannek5757 doubling the value of the car on resale is the problem, I get they have to make money but that is taking the piss out of people

@jannek5757 Ай бұрын

@@damianpoole2933 I have a feeling, that a good % of people who want to get rid of their new/almost new EV _really_ need the money OR really don´t care about losing as long as they get another new ride, so the dealer knows this also... OTOH I have zero facts behind my claims :D

@jamesx2703 Ай бұрын

Yh it doesn't seem quite right. On a 12k car a dealer probably has 1500-2k markup. Sometimes Cap values have to be taken with a pinch of salt!

@dannypembroke2372 Ай бұрын

@@jannek5757 Dealers just won’t buy them. Porsche dealer offered HALF back for my colleagues Taycan after 4 months.

@sunseeker-yb5qt Ай бұрын

The good thing is if you simply buy and enjoy the cars for 8-10 years you do not have to worry about depreciation.

@geoffdundee Ай бұрын

@sunseeker-yb5qt ....or buy a volvo and keep it 20 years like i have..........im sure it,ll last another 20

@joshuatk59 Ай бұрын

You’re right, but unfortunately we live in an increasingly materialistic society where people get bored of new stuff after 1-3 years.

@sunseeker-yb5qt Ай бұрын

@@geoffdundee thats good but after around 10 years there are usually some improvements which I think its worth having. If not I keep mine of course longer. In the last 15 years there have been huge improvements regarding autopilot systems (active lane keeping, cross traffic warnings) and lightning systems which I considered as safety features which I wanted to have as I do get older and these systems make long travels a lot easier and safer. Lets see how things develop in the next years😄.

@davidwestwater2219 29 күн бұрын

Then the battery is dead and it's junk

@harambae7014 29 күн бұрын

With the exponentially increasing reliance on electronics and infotainment systems, good luck.

@PresidentJackBauer Ай бұрын

Trading in a car within a year is always dumb. Just lease at that point. Even trading within 3 years is a waste.

@n3gi_ Ай бұрын

Doesn't change the fact that EVs depreciate way faster than ICE cars.

@Thor6398-jt4mb Ай бұрын

I'd rather buy that 1 year old car and keep it for 5+ years myself. Or even until it breaks down.

@QuarkBoy12 Ай бұрын

I got rid of a 24 civic SI in 4 months with 6K miles, went from 31k which is what I paid to 30k, Also got rid of a 23 Corolla GR which didn't lose any value and was offered exactly what I paid. So it's not always dumb. Generally though, yes.

@CallumRoberts17 Ай бұрын

The point Matt’s making is the EV’s are depreciating rapidly. Regardless of whether you’re trading in or keeping, the car’s worth whatever it books at.

@nismoa5728 Ай бұрын

In five years it will be worth as scrap metal 😅

@richards6367 Ай бұрын

This would have had more context if Matt had also added the % drop from purchase price

@phiiz3r Ай бұрын

And the 10,000mile running cost of both vehicles.

@AntonHu Ай бұрын

@@phiiz3r Petrol for my car would cost me about £1100 for 10000 miles - trivial compared to depreciation.

@somealias-zs1bw Ай бұрын

Absolutely right. The numbers behind this video are poorly conceived and likely held hostage to the fact this video is just an infomercial for the company providing the "data." People care about how much their car is going to depreciate compared to what they bought it for. "What is the % change in depreciation this year compared to an identical case last year" is a question no individual car buyer ever even thought about, let alone cares to know the answer to.

@Fosten12 29 күн бұрын

The overall theme and numbers are really poor

@mook16v Ай бұрын

I bought a 2007 Honda Civic 6 years ago for £2,500, stuck over 100,000 miles on it & it has never missed a beat. I plan to run it until I see 250k. Pretty much zero depreciation, the thought of losing that much money in a year makes me physically sick 😅

@MM-tl3pg 21 күн бұрын

Shud of bought an ep3 - would appreciate in value

@stefanweilhartner4415 18 күн бұрын

you only lose that money if you sell it.

@Mizzkan 9 күн бұрын

But you’re driving a piece of 💩. ?.

@matthewcornfield2150 3 күн бұрын

I did a similar thing - bought a high milage Mondeo a few years ago, put 80,000 miles on the clock and the only thing that's needed doing was an engine mount, as well as regular maintenance items. It's on 180k now, and my aim is to get it to 400k!

@butchmeister80 2 күн бұрын

Only lose it if you sell it

@ObiePaddles Ай бұрын

I’ve owned a few new cars and have kept them for at least 8 years. I buy 1 year old cars, not sell them!

@troll3497 Ай бұрын

Thats what they said till they are bored of driving the the same old car and want to sell the car for some cash..lol

@alexandruilea915 Ай бұрын

@@troll3497 if you consider the car a tool and not a toy then there's no reason to get bored of it. The only reason I change cars is because they get too costly to maintain.

@ObiePaddles Ай бұрын

@@troll3497 saying I’m lying? Lol.

@DontReadMyProfilePicture566 Ай бұрын

Don't read my name!

@purwantiallan5089 Ай бұрын

@@alexandruilea915one car in particular terms of maintenance even costed $4.000 per maintenance.

@28Ace82 Ай бұрын

£33k for a 1 year old e-tron gt with 10k miles? Thats 20k less than they are all advertised for, one hell of a mark up by dealers if true.

@ianevans7608 Ай бұрын

My thoughts exactly. Cheapest 22 plates roughly £48k at the moment. There’s a video in whether a 45% markup is justifiable or profiteering if those trade in values are accurate.

@badhairday_247 Ай бұрын

It’s got FA range, huge but with no space or infotainment.

@raymondboyd2780 29 күн бұрын

If etron GTs are going for 33,000 pounds in the UK someone send me a link and I’ll buy several and import them. There’s no way this car is going for a fourth of the price of the Taycan or the same price as the Volvo. It’s easily the best looking EV on the market and one of the best driving as well. Even with below average range at this price the car is beyond a steal

@thelifeofbatteries2603 27 күн бұрын

@@raymondboyd2780 This video is utter garbage, i put my 21 Etron GT into WBAC and it came back at 41k, no idea where they get 33k from

@dmac4097 16 күн бұрын

Bollocks an etron is £44 k on auto trader

@pqvid 13 күн бұрын

As a private person, it's amazing news! Getting "certificated pre-owned" at such a high discount seems like the deal of the century!

@michaelbelcher7942 21 күн бұрын

I feel we need a reset with out relationship with car value. I buy almost anything, use it for a year, i would expect it to lose significant value. But cars we magically want to stay the same value??

@Tschacki_Quacki 4 күн бұрын

The reason why this narrative is present is because of the price spike from the corruption pharma years. Since it's back to normal, they can parrot that the value has gone down big time.

@harrywilshere4989 Ай бұрын

Dealer before trade-in: "your car is a year old, has 10k miles and there's a new model out, $20k. Dealer after trade in: "this car is only a year old with only 10k miles, practically the same as the new model, $27k"

@rogerdodger1790 24 күн бұрын

"People prefer the older model to the new one"

@backgammonbacon 21 сағат бұрын

Sell privately if you don't like it. Good luck finding someone who want's to buy a 1 year old car privately though.

@UzairW Ай бұрын

Slightly used (or well-used if in good condition) FTW! Never buying new unless I win a big lottery!

@Alirezarz62 Ай бұрын

Same. Also some cars in my country have some weird problems straight out of the factory and by buying almost new cars you make sure they don't have those problems and you save a lot of money and time

@DontReadMyProfilePicture566 Ай бұрын

Don't read my name!

@purwantiallan5089 Ай бұрын

@@Alirezarz62some cars in Iceland literally never suffered those problems.

@JohnSmith-pn2vl Ай бұрын

yea it never made sense until the tesla model 3 and model werent simply available used, cars lost like 80% in 3-5 years, actually ev's hold their value better than anything else. this comparison video is kinda silly tbh. ppl just dont trust batteries at all yet, in reality they easily last about double the milage of an ice car, probably way longer and a new battery is already today cheap and will get dirt cheap in the future as prices are dropping rapidly.

@MrDuncl Ай бұрын

@@JohnSmith-pn2vl Carwow is based in the U.K. where there are big tax incentives to lease a new EV. The situation is similar in the U.S. where someone pointed out that it would make more financial sense to buy a new Tesla for $48000 than the same car 1 month old and with 100 miles on the clock for $40000.

@lestmak Ай бұрын

The issue for the EV6 was that there was limited supply a year ago. We had to wait a year for our new car and I know people who had to wait much longer. Many people tried therefore getting a second hand one to avoid the queue. A year on, you can practically pick a new one up almost immediately. Basic supply vs demand pricing.

@SCraig-Handsome Ай бұрын

That’s true of any car, I live right by a Honda dealership, a year ago I couldn’t find anything new except a Civic, this year it’s filled with CR-Vs which were not available at all since they launched the Hybrid. Now it’s loaded with Hybrids and no Civics. Which makes sense as only 15% of the market is sedans and other compact cars. 85% of the market is trucks and SUVs and that’s likely to stay that way

@jasoncoman9328 Ай бұрын

Uk government slapped a hefty £15k fine on the manufacturer for each unsold EV after a certain time frame. There are thousands of unsold EV’s around the UK, and the maker’s are bricking it!

@peterwright9546 4 күн бұрын

Wait till oct/nov the prices of new ones will fall again with dealers slashing prices to get them out of the dealership to avoid the fines.If anyone wants an EV wait till then.

@LeitvenRQ 3 күн бұрын

Thanks! one would think they'd mention this

@vmdenis3350 Ай бұрын

Good, drop all the prices, i hate when people overexaggerate on the 2nd hand pricing

@LelouchVelvet Ай бұрын

Key point, just dont buy new cars

@sashoxxx Ай бұрын

Especially battery cars.

@espenbrathen7156 Ай бұрын

Yeah I dont understand why middle class people buy cars that are less than 3-5 years old. It's not worth it at all

@Chobbito Ай бұрын

If someone doesn't, we don't have second hand bargains to buy. So please carry on buying new cars 👍

@michaelforristal5224 Ай бұрын

If nobody buys a new car where will the “bargain” second hand cars come from 🤔🤔

@trigsretromotors Ай бұрын

Quite simply let the companies buy them as company cars plus they get the tax benefits, they'll write off the loses after 3 years and then the second hand market and the average person on the street gets the better deal

@blxtothis 8 күн бұрын

The usual rule of thumb with depreciation is that large luxury premium brands fall in value exponentially when compared with diesel and petrol versions.

@mikewill37 Ай бұрын

Year one of owning my petrol Merc, the insurance said the value was £46,000. Second year and same insurance, they stated the value of the same car was £16,000

@avalanche9142 3 сағат бұрын

you got it new as the 1st owner?

@nottmfunguy Ай бұрын

So basically it was pre-reg by the dealer and they couldn't get rid. As soon as you buy that car, kiss an instant high percentage of the value away. I wouldn't touch it with a barge pole.

@DamienGGW Ай бұрын

its because ev's are overpriced

@sinenomine4540 Ай бұрын

Not just EVs.

@Blast6926 Ай бұрын

+ trash

@tomclower8140 Ай бұрын

It's because they are shit 😂

@Matriarchy_Feminism Ай бұрын

No. Only crap engine cars

@Blast6926 Ай бұрын

@@Matriarchy_Feminism back to the kitchen

@EVCarShare Ай бұрын

They did drop like crazy, but based on WBAC, mines been going back up again over the last couple of months. My EV6 has gained £1000 since the beginning of April and that's even including the extra miles added to the odometer.

@karlhayes1077 24 күн бұрын

Just bought an 18 month Ioniq 5 ultimate (26k mileage) from main dealer and they have given me full 5 year hyundai warranty and paid £28000 - nearly £20000 off new price

@robtheplod 6 күн бұрын

You paid £28k for a car with 26k on the clock?

@MarkBos65 Ай бұрын

Managed to pick up a 6 month old a Ioniq 6 ultimate with 7000 miles for £32k last week, a massive saving from the new price of £50k+ price. Let's hope the start to ease up on the deprecation now.

@TimTymski Ай бұрын

Bro it will be worth 15k in 2 years 😂

@roki977 Ай бұрын

next month it will worth 29k

@firstzayuhanda6148 Ай бұрын

Next tuesday that car's gonna be worth 30k

@stephenmccaffrey8150 Ай бұрын

It's good to have a positive attitude in the face of overwhelming evidence to the contrary.

@user-tq1qd3iu2t Ай бұрын

I think that was a mistake. You could have bought a proper car with that.

@AlbertLamarque Ай бұрын

Bottom line: great time for second hand buyers not looking to swap the car anytime soon.

@garethUK Ай бұрын

Only if you like to burn money. The only sensible thing to do as proven by this video is buy an ICE car.

@nuthinking39 Ай бұрын

Let's say the past years, because Covid and supply-chain issues, have been good years to sell used cars. These times might not come back, Mat says the situation is "normalizing".

@AlbertLamarque Ай бұрын

@@garethUK value often says little about the car. There are exceptions. Residual values have been way too high in the past 2 years, and people are always hesitant with new tech. Funny that you prefer an ice car to quite literally burn money.

@garethUK Ай бұрын

@@AlbertLamarque It's just common sense. Who wants to buy a car that is 10,000 miles and 1 year closer to needing another $10,000+ battery install? Who wants to buy an EV that requires 2 hours to fully charge today when tomorrow's models will require far less time? EV fanboys like to pretend these issues don't exist but as we can all see right here in black and white, they do.

@AlbertLamarque Ай бұрын

@@garethUK granted, the technology is evolving. I am not sure where your data is coming from, as both battery durability and charging time is nowhere near what you expect. I know where my data is coming from, because part of my work is charging electric cars in various ambient conditions. I agree though, common sense dictates to pay reasonably for functions you use and not at all for functions you don't. If only people had common sense. There's people blind to realities independent of what means of propulsion they prefer. Can't hurt to check in with experts from time to time and consider the limitations of what they show you.

@English_lifestyles 16 күн бұрын

There was an advert on the radio this morning for vauxhall EVs. I can't imagine how awful the deprecation will be on them.

@damiendye6623 25 күн бұрын

This video shows why i purchased my mg4 extended range at 6 months old as it was 12k less than new

@stew_redman Ай бұрын

A study in Australia has shown that, on average, new ICE cars lose 14% in the first 2 years and EVs lose 43%. Too soon for EVs down under.

@toniober4416 Ай бұрын

its not that they loose their value because they are so bad. They loose their value because the improvement rate is so fast. A 2022 mercedes EQC has range of 433km, a 2024 EQA has a range of 550km. so of course the value of a eqc will drop deep. with the combustion models the improvement rate is much slower. A last gen GLC is still much better then an new GLA so the prices are much more stable

@Thor6398-jt4mb Ай бұрын

@@toniober4416the increased range would most likely not affect your life very much, so getting the cheaper car is a much better deal. But you are right that the rapid development increases the speed of the price drop.

@stew_redman Ай бұрын

@@toniober4416 Another reason is their suitability for Australia. The charging network isn't so much a network as a random scattering of charging stations - pulling power from non-renewable sources too. A good chance of being stranded of you venture too far from a large town or city. ICE cars are actually the same, or in some cases cheaper, to run because of the cost of fuel and electricity over here. Not to mention the initial car price and depreciation.

@srbjbt746 Ай бұрын

Luxury ICE cars lose value as fast as EV, you can find 3 years old S class for 70k easy.

@deanchur Ай бұрын

@@stew_redman Another Aussie here, I drive a 1.4L turbo diesel. If I use public charging and assuming 70c/kwh, my diesel is a bit over 40% cheaper to run per km.

@jak493 Ай бұрын

Having owned a tacan, I can say the loss on selling was gut wrenching, as good as the car is (it really was) I just couldn’t stomach it again on a new one. I hoped Porsche might honour higher trade ins if buying a new Porsche but half the dealers didn't even want it. Back to petrol for me.

@dereklush9399 Ай бұрын

Why not just keep it then

@jak493 Ай бұрын

@@dereklush9399 🤣. That is a good point and one I thought about however I panicked the loss was just rising substantially each month and its value in a few years would be ridiculous.

@BeraltofSmivia Ай бұрын

Similar thing happened to a friend of my dads. Bought for 120k, year later, Porsche offered him 30k for it, but that's only if they wanted to buy it. Which they didn't. They already had too many of them.

@jak493 Ай бұрын

@@BeraltofSmivia If you look on the Porsche forecourts, they are flooded with Tacans. I think one of the reasons is the 3 year leases on them matured and suddenly they are inundated with Tacans.

@user-jt4fy4od9r Ай бұрын

I think Taycans are a special case as speculators piled in and then promptly got their fingers burned. It is also a "specialist" marque with a loyal customer base. People do not wake up one morning and say to themselves "I think I fancy a change from the Ford Mondeo - I know, let's get a large electric expensive to maintain Taycan Performance car". These were only ever going to fall off a cliff second hand. Just like Range Rovers Vogues and BMX X5 M60i xDrives. Rich people buy these because they are expensive, then less rich people have to buy them second hand and they won't pay the same for it.

@DerSpuk73 Ай бұрын

Here in Germany it’s the same. I think, most of this high value loss are based on 2 things. 1) EVs are most new build cars, no one knows really, what problems you get in higher mileage. 10 or 20k is still new, not high mileage… people wait what’s comes up with evs with 200k miles… 2) our government try to force us to buy evs. As long they don’t want give us options (Combustion, hybrid and evs for sample) people avoid to buy evs and stay with Cc cars… I drove all three (CC, Hybrid and EV) and for my own, I still love my 2019 GTi performance most. Good daily driver in midrange, lost of emotions while driving and as a car lover I love its sound when hit the gas pedal…

@metricstormtrooper Ай бұрын

The government forced you to wear seat belts, they forced you to stop getting behind the wheel of a car when you were pissed and they try to stop you driving over the speed limits, you just don't want the government to stop you buying inneficient dirty cars that don't go broom broom so your little ego feels bruised.

@steverx4460 Ай бұрын

Right now yhou can buy either. No-one is forcing you to buy an EV.

@thespectator5259 Ай бұрын

@@steverx4460 Key words *right now.* The 2030s are only 5.5 ish years away and that's when a lot of places have laws that say they won't allow consumers to buy new ICE cars. Half a decade isn't a lot of time left especially when you consider that aside from a house, a car is the 2nd most expensive thing people buy on average. Your technically correct, but your also being kind of disingenuous in dismissing OP's point.

@steverx4460 Ай бұрын

@@thespectator5259 some say 2030 most say 2035 and some say 2040 and even 2050

@thespectator5259 Ай бұрын

@@steverx4460 "Some say" more like California and the EU says. This isn't speculation, unless you haven't kept up with the news, the aforementioned have already passed legislation for the ban of new ICE car sales to consumers in the 2030s (I don't have exact dates, but it's during that decade). While I don't live in either of the aforementioned, they are large enough markets, that it has an indirect effect on automakers on what to sell for all other markets. A bike I own for instance (2018 Yamaha R6) stopped having a street production version made after 2020 due no longer having access to the EU market place. The manufacturer couldn't come out with a homologation 600cc class bike that would meet the new Euro 5 standards without significantly cutting back on performance (the whole point of a sport bike). They (rightfully imo) figured that they would lose sales for newer models if they weren't at least as fast as previous models, so they decided to cut their losses and just stop making them. This is in spite of still being able to sell them elsewhere in the world. This is an economic phenomenon called "the Brussels effect" and you just dismissing OP's point isn't logically warranted.

@davebway6371 Ай бұрын

With the Tesla Model 3 and other company fleet type cars reaching the UK in 2018/19 we are at the point where fleets are off loading their EVs for new EVs creating a short term glut in the market. 2nd hand EV sales are up 21% year on year. It’s just supply and demand.

@viggental77 Ай бұрын

What people expected ? EV cars are just like Personal Computers in the 90's and 00's. Hardware becomes better and cheaper very often, driving overall prices down

@Anonymous-ib8so 28 күн бұрын

Yes EVs are disposable items so they are not green at all

@stevevoller 26 күн бұрын

I think this is expected really. This problem is due to the rate of development, ICE haven’t significantly progressed now for 10-20 years, we are seeing EVs with major performance increase every 2-3 years. The EV is still low on the development curve , the ICE is on the plateau. Like everything other technology based product we will see a slowing of development and stabilisation of costs as time progresses, this will also impact the depreciation as it happens.

@rontheoracle 25 күн бұрын

@@Anonymous-ib8so I would say that the opposite is the truth. EVs can last a long long time, much longer than ICE vehicles, and the EVs manufacturers know that. The EV's batteries though, may last about 10 years, before it needs to be replaced. Hence, every EVs manufacturers design their EVs in such a way that ordinary people cannot easily repair their EVs, by locking all the bells and whistles with the help of the central tablet, in the middle of the front dashboard, and etc, and etc ...

@stefanpredl6849 24 күн бұрын

@@Anonymous-ib8so I only wish my disposable items would be usefull 10-15 yeahrs

@Groover1964 Ай бұрын

I'm sure Matt used that same depreciation opening line when explaining to his wife why his 911RS was a great idea.

@DaMurphy82 Ай бұрын

I'm still convinced that that GT3 RS allocation was just a creative way for Porsche to get around ASA laws and bribe/pay an influencer...

@ricdes Ай бұрын

I found it extremely easy to get a gt3 touring. Meanwhile all the influencers were going on about "impossible to get"...

@yota8325 Ай бұрын

@ricdes it's only the rs cars that they say are hard to get

@AndrewTSq Ай бұрын

Second hand 911 holds value really good here at least.

@MrDuncl Ай бұрын

@@AndrewTSq Porsche aren't known for reducing their prices twice in a year 🙂

@johnjackson2349 Ай бұрын

Great video, as a normal bloke without unlimited cash 2nd hand values greatly influences which car I buy, the hit on EVs at the moment means they arnt viable at least to people on regular incomes

@Tebbsy71 Ай бұрын

Maybe if your planning to sell it ... but what if you are planning to drive it for 10 years....

@starfireforge1830 25 күн бұрын

Bought a top of the range Jaguar iPace (2021) for £50,000 less than its purchase price 3 years prior. Amazing value, incredible utility, brilliant car, super cheap to run. Still under warranty, free charger, free MoT x2, free services x2, £2k cash back. So it’s not all bad.

@StaxNoir Ай бұрын

Car salesman here - had a customer trade in his Ipace he had for a year for a brand new x trail - he was 25k upside down in negative equity

@aussie2uGA Ай бұрын

I feel sorry for him buying the ipace as it was terrible.

@darkchild130 Ай бұрын

Idiots

@Ennui. Ай бұрын

So if i understood this correctly... He had to trade in his iPace and then pay another 25k on top of that to get the X-trail? Jeez...

@DontReadMyProfilePicture566 Ай бұрын

Don't read my name!

@ianroe6678 Ай бұрын

And a stupid thing to even contemplate

@SudSale31 Ай бұрын

Porsche sells the Taycan 20miles for 112,000. But for how much did they buy it back from the previous owner? That's even more insane!

@mariovk22 Ай бұрын

That expensive cars people buy(rent) only with leasing. That ppl don't care how much drops in value.

@Omgiamsotriggered Ай бұрын

Sounds to me like it was delivery miles. Probably owned by the dealership since day 1

@LuckySpeaks Ай бұрын

Porsche WILL NOT accept their own electric rubbish back as a part exchange even if you are spending a small fortune upgrading. If they don’t want them, they are no different to the general public who are scared of duff batteries and spontaneous combustion in your garage burning your house down. I’ll keep my S63 AMG, 488 spider and Range Rover SVO thanks- none of which have to pay a ULEZ charge in the closest town to me

@unclebuh Ай бұрын

@@LuckySpeaks talking bullshit as always.

@LuckySpeaks Ай бұрын

@@unclebuh ring Porsche, ask them to take a taycan in. They won’t. Case closed. Get the facts before insulting people, it only makes you look dumb. Electric cars are for the idiots that don’t think about the environmental impact of one that is many times more than my ferrari, Range Rover or Mercedes, even all of them rolled into one supposed ‘carbon footprint’.

@muddy250 26 күн бұрын

Odd how the market prices are affected by ... consumer demand ... isn't it.

@DonReality 17 күн бұрын

Me with my 2014 2.0 Litre Diesel Vauxhall Zafira Tourer, 170 BHP, remapped to 210 BHP. Second hand bought in 2016 and still loving every moment of it. Drove to Netherlands from Dover (Eurotunnel) with my kids for holidays and it was the best experience ever! SPACIOUS, ECONOMICAL, AESTHETICALLY pleasing for a 7-seater and EXCITING when the pedal is to the floor! I shall be running this until the engine ceases. Just had timing belt changed, among other few jobs at 120k mileage. My worst fear at moment is getting a car that ends up being least reliable to what I have and unnecessarily putting myself through painful monthly repayments again. Not needed! I'm giving GOLF GTDs and Fiesta STs, BMW 120 series a hard time, what's not to love?! 😊

@vincentohara2520 Ай бұрын

Thx for the video Matt. Mixing the drop of the actual depreciation and the relative depreciation from the same situation 12 months ago - and changing the format for each car creates a very confused delivery. All the info is there but requires great care to capture.

@douglasb.5601 Ай бұрын

I think that's probably to stop EV owners from throwing themselves off bridges! 😂

@howardlewis3405 Ай бұрын

@@douglasb.5601 Or torching their cars?😭

@Elwon20 Ай бұрын

You say the info is there, and there is info... but what use is that info? That's what confuses me. "These 10 stocks dropped in the last 10 months more than these other stocks did, sucks to be you if you are one of the very few people who bought them 12 months ago and desperately need to sell right now specifically to buy different stocks for some reason" is literally all i can get from this.

@RobySupercar Ай бұрын

0:18 “what could you do to avoid it?” “I won’t buy one”

@swordschan Ай бұрын

Am I confused or when I search for an Audi e-tron GT the prices are no where near £33k and more like £43k+

@smaragd_ Ай бұрын

Interesting video. Thank you!

@Enhydra_l Ай бұрын

I see this as a positive. Most people lease new EVs anyways so it doesn’t really hurt most new car buyers, and second hand buyers (like myself) are huge winners. I got my EV6 GT Line for $42K US with 15K miles on it. At the time dealers were asking $62K for the same car new. Saved 20K getting basically the same car just cause someone drove it for a few months. Just common sense to buy used EVs off leases.

@xTurtleOW Ай бұрын

not really, it will drop even more in price and you are going to be the one who replaces the 20k battery

@Enhydra_l Ай бұрын

Or, you know, I just trade it in before 100K miles when the federally mandated 100K mile battery warranty expires. I still get 85K miles driving a basically new car for $20K less than new. I still win compared to a new car buyer.

@DiMagaPi Ай бұрын

For you to sell, someone needs to buy it.... Good luck selling it for the price you want... You will get hit, also...

@nfzeta128 Ай бұрын

@@xTurtleOW the batteries last pretty much the life of the car.

@DerpEye Ай бұрын

@@nfzeta128 And whsat's the life of the car? I drive a 19y/o A3, which performs in the same way it did when new. On the road there's plenty of 10+ y/o cars. I doubt any battery powered car will last that long without needing a new battery.

@grandmastersushi9600 Ай бұрын

The Way I love the Porsche Taycan ev, that pained my soul Mat!

@jamzefisher Ай бұрын

It would have been more useful to do 3 year old/30,000 mile cars,TBH. One year old car values will always fluctuate if there are supply issues with brand new ones, as has happened for the last couple of years.