EV PRICE CRASH…HERE’S THE UNCOMFORTABLE TRUTH 

Something to consider, a car that has depreciated massively, isn't a bargain ... it will still continue to depreciate massively once you've bought it....

It’s the interest rate that is killing 50k plus car sales plus the fact that nobody wants second hand EVs

Ev battery cost is really really killing the market . There is no 2nd hand market for cars with 40.000$ grenades in them

Total scam, if they need to give incentives the vehicles can't stand up on their own. Now there's a call for reducing VAT on EVs to stimulate the private market as the average driver won't look at them and the dealers are drowning in stock, hence the 50% depreciation by 2yo. If you introduce a new concept it needs to stand on its own and not require government incentives to survive, long charge times and short range isn't going to stand up against 5 mins and 500 miles.

Even at these prices people are not going for them... It must be discussed why that is? What is the future for these vehicles? How are we going to move forward? It seems to me that only a sub £20 000 EV for short commutes is the only way forward for EVs and then only if the owner has off road parking and a home charging facility... People can't be forced any more and those 2030-2035 bans must be overruled.. Market forces and practicality should determine how and what vehicle we drive.

Picking up a 2nd hand EV for half RRP might sound good but what about running costs? Insurance and repairs are sky high compared to ICE, add costs of tires too as they wear down faster. The whole thing is flawed.

Insurance prices for EVs are through the roof so they are certainly not cheap to run now…

These vehicles are not a bargain simply because they are half of a ludicrously high original list price. This is the classic FOMO psychology that retailers have relied on for years to con us into believing we made a smart buy. If you can’t charge the thing it matters not what you paid for it and whatever you did pay for it is money lost forever as a 3 owner car will never sell. ICE cars, even though increasingly computerised, are essentially fixable but a battery replacement in an electric car is not economically viable. EVs are more like domestic appliances, decide what you want to spend, use it until it breaks then replace with no expectation of a future value.

Only affects rich people and company cars drivers .

An ev is an appliance. The drop in value ... like over heated toasters.

So can we buy a taycan for 20-30k next year?

Interesting video. I agree wiith all your comments. I think lessons have been learnt and reality has struck home especially with the charging infrastructure and charge waiting/charging times. Small electric cars make great runarounds and good for clean air in congested areas especially if you can charge at home. I notice that charge points don't display their KWhrs prices the same as petrol stations do per litre. This needs to be legislated for sure. I know people will say its all on the app but thats not the point, transparency is. In the 80s we were all persuaded to buy diesel now they are demonised. Diesel pollutants were well known then, what next? Will there be a rebellion against the mining and use of rare earth metals? Hydrogen next I reckon.

I agree there has been a market correction since the insanity of Covid pricing coupled with the worry about battery replacement and real world practicalities of owning an EV. I think they are great if you are retired or work from home but anyone who does a lot of miles like myself wouldn’t even consider an EV at any price. Also i question the environmental credibility of them the poor people who mine the materials for the batteries certainly would! Then there’s the question about what happens to all these batteries that need replacing. Then there’s the question of how the electricity is generated to power them. Basically more negatives than positives for me.

It would be interesting to find out whether those who traded in their EVs went back to ICE?

What you are not telling us with these 3 cars is the cost of servicing, tyres and other parts if and when you might them. This is particularly true of the Porsche.

Your Defender you just gave away is far more environmentally friendly than any electric vehicle over its life. That’ll be going another 20 years where one of those fancy Porsche supercars will be in the scrappers in 10 years….. Plus there’s a load of hidden stuff about child labour mining cobalt with their hands, tons of material shipped by diesel taker to China, diesel tankers shipping batteries to America, tankers shipping cars to Europe….. those batteries last 5 years and replacement will cost more than the car’s worth……then you get to wait 2 hours in Costa on a motorway service station when you go on holiday…… that’s if the government haven’t geofenced your electric car in your 15 minute city. 😂

a quick look at the prices being charged at instavolt on vids and range achieved on a Taycan works out around the 20mpg mark.......hardly economic

Wish we had the same amount of price crash, but I guess it always begins in the low salary countries. I just sold my Mercedes Benz E400D 4Matic T 2019 with 120.000km for 59.000 Euros, which is still 50% of its original new price.... Not sure about UK, but I used to buy 18 Months old cars with 50% discount 10 years ago...

Wouldn’t have a problem with owning a preowned Ev as a second car in my household but - and there’s a big but. Replacement parts need to be easily purchased and not at crazy prices, also we need a much larger selection of garages that can do the work.

I've have been driving an electric car for some years now, both in USA and here in UK. Home charging on a standard 13Amp socket gives 50% battery over 10 hours night charging, my car has a 270 range when full. This will charge at about 2kw. Equivalent to 115 MPG with petrol at £1.44 per litre, slow but very economical. I mostly use public chargers. Fast charge 50kw, equivalent 45MPG. 22kw charger around 65MPG equivalent. As of writing there are 52,000 charge points in the uk across 30,000 locations and expanding every day. Around 8,000 petrol stations. Chargers located in public car parks usually include parking for 3 hours. Some supermarkets such as Tesco and ASDA offer free charging while shopping. In summary there are more pros than cons. I personally will not return to peteil or diesel, but that my personal choice. Unfortunately for the motor trade technicians you will need to retrain, my car does not require anual servicing, the only recomend check is the brakes every 2 years as they are rarely used with single pedal driving.

I don’t agree on the lease returns as these vehicles are on majority being sold by dealers. Porsche GB had a high volume of inventory in Dec 22 and were doing deals to get rid of them. It didn’t help either that Tesla reduced prices of the Model Y by 12% in Dec 22. Bringing a Model Y Performance down by £9000! This had a drastic effect on RVs and likewise Ford, Jaguar, Nissan and Kia started pulling prices. Ave CAP clean Model Y (22) - Dec 23 - 41% drop

Unfortunately, the £40k you spend on your 'cheap' 2nd hand E Tron is money down the drain. In a couple of years time when you want to go back to ICE the, then 3rd hand E Tron, will be practically worthless. People aren't buying 2nd hand EVs, they certainly won't want a 3rd hand one. A good place for your money would be to buy a big field somewhere and you can charge dealers to store their unsaleable EVs.

Why are RU-vidrs still so surprised a car is a depreciating asset 50 or 60% depreciation over three years is perfectly normal for an expensive car there is nothing unusual in that, I think people have run out of things to say!

Very interesting. I’ve looked at electric about 18 months ago and I was actually considering a Mazda mx30 as my commute is 52 round trip. I can charge at work and home so it’s range didn’t concern me. The spec and build quality are excellent however I was looking at £30k then electric prices went through the roof as we know. Having watched your video I’m astonished that they’re now selling for about £18-20k so I may buy a used model and get 5 yrs out of it. Thanks again 👍

The other factor as well is that cars are basically not getting any better, in other words if you bought a 64 plate (now 10 years old) it's pretty much as good as a brand new vehicle and could easily last for another 10-15 years if looked after. If you're old enough to remember what cars were like in the 70's, 80's etc back then a decade was a chasm in terms of improvements, design and reliability. Now i can't tell the difference between new and older vehicles.. they all look the same..

Yep, on the face of it an Audi e tron 1 yr old at half price seems like a great buy,but is it ? That great buy could still lose a lot of value in the next yr or so.We don`t know what the future holds and remember, if it seems too good to be true.Also there are other factors to consider, like affordable insurance.

I'll stick with my 335d thanks

If I was a buyer (which I'm definitely not), seeing prices nose dive, and offers aplenty, would only put me off further.

You also forgot expensive insurance, nobody can repair them so they're getting written off for minor damage, and they do like to catch on fire.....

50-60 Grand for an average secondhand car? Unbelievable

I agree these prices are much better. But they will continue to depreciate at an accelerated rate. I think also as these cars age rate of fires will increase dramatically. Amazingly not many people have died in a EV fire yet.

Decent insight. Charging at home is indeed a must, unless you have a Tesla. However, I don't think that Audi or Porsche EVs are good value, even allowing for their 50% drop. Their range, battery packs and efficiency are very poor and have already been surpassed by the competition.

As a buyer for a used car I would not consider buying one that is say 3 years old and out of warranty. Apart from the usual worries I am concerned about battery degradation, the rising cost of electricty, high insurance and the possibility of having to replace the battery at enormous expense. Petrol seems to be to be preferable.

Very few people who understand the traction battery life left in a second hand EV are steering well clear of EV’s even if the second hand price is low. The price of a second hand EV electric vehicle is low for one reason only and one reason only it’s the cost of purchasing a new traction battery pack which is at least £5,000.

The problem is so much of the Industry simply produces pure BEV without thinking holistically of how to actually make these vehicles "work" as part of a driving experience (which Tesla has been doing since Day One I might add.) this leaves an enormous amount of ability to innovate as "4 wheels and a steering wheel" simply gets everything wrong...for example Nio Motors with battery swap continues to crash...how long before battery swapping becomes A Thing therefore as suddenly becoming very economic. Or how about a solar powered car that only needs a wall outlet to charge? As diesel fuel prices continue to surge and parking space at a premium suddenly small is beautiful again. Or how about hybrid drive systems entering full run rate production? Suddenly you have 60 miles of pure bev range that carries along an internal combustion engine no problem. Fuel up once a Month or even less and in some cases no plug is needed. How about running a diesel locomotive with a turbine engine powered by natural gas instead? Already doing this with ships now. Or how about "your bev is such a piece of junk no one wants it at any price?" Think Ford F150 apparently. That's a really expensive worthless truck! To "make good" on that means lowering the entry price possibly *BIG TIME* all the while still having to make the thing actually work. Oh and how about a massive downturn in an economy? Suddenly no one is buying these vehicles unless and until they really are *DIRT CHEAP.*

Well when it's freezing -20c or -30c the home socket isn't even viable option. All the watts go to heat battery so it can actually take charge to battery. Neighbors can't get even estimate for home socket at low temps since all most no charge is going to battery. Here you need 11kw charger to able to live with home charcing in winter. Then you can actually charge if the car is whole night in charger. Evs are fine at summer but in winter the amber warning light in dash are daily issue and you hope it's not something that stops your commute in middle of freezing weather. Ofc this is issue with any car that has 12v battery but evs have so much electronics and people use heaters that aren't powered by HV battery they get shocked it's the single 12v that powers all the stuff in interior and it can die easily in cold.

When buying secondhand the length of the manufacturer's warranty and brand reliability becomes important which is why I favour Kia. My e Niro has been excellent and fault free over the last 2.5 years.

This was always going to happen once they become second hand. Rich people buy them new and pay for dealers to fix them usually under warranty, but no one is going to buy one second hand when the can’t fix it at home or at a local garage. People buy used cars cause they can’t afford new ones and main dealer servicing costs. And what happens if the batteries fail…. How many used car buyers have 20,000 pounds upwards to replace that…. The used car market for ev cars was always going to kill them. So now who wants a new one when they can’t sell it afterwards. Even the manufacturers can’t sell the crap heaps.

Anyone that buys an EV is mad if it's not a company car or its literally free to buy and run them you must be mad, what you fail to point out is the very fact they've lost a, ton of money already and they haven't finished yet, so there's another load of money still to be lost, no one in their tight mind will buy one they just don't add up

I love ICE cars so love watching videos like this. Unfortunately, having these dinosaur vehicles (EVs😅) on the roads for 3 years the state of the roads, pot holes, due to the excessive weight of the monsters & no revenue collected in tax!!

The UK gov never said all cars had to be electric by 2030. Originally it was that from 2030 to 2035 new registrations of petrol/diesels must be hybrid with a "significant zero emission range," which was never defined. Instead they ditched these rules for ICE cars. Crucially, the ZEV mandate has been implemented, so in 2024 ZEVs must be 22% of registrations, rising to 80% by 2030.

Would any of you Ev evanglists fly over the Atlantic in an electric plane ?

My recommendation for all EV owners - buy a diesel generator and carry it around in the boot of your car 👍

Hertz just dumped 20,000 Tesla onto secondhand market - they are dropping EV because low demand and high maintenance and repair costs.... They are buying more ICE vehicles to replace the EV -tells you all you need to know about EV.

I'll have one when it's down to 150 dollars

If you lease, then you don't get hit with the depreciation......

Bushmaster gun vs tank armour

Isnt it just the same as normal cars now EV's did hold value better when there was a lack of supply and electricity was very cheap

Remmber the governments push for diesels 20 years ago ? Same thing will happen with EVs

EVs are only better for the environment at point of use. The pollutants these cars produce in there manufacturer is well known. Not to mention the slave labour in third world countries mining cobalt etc. Then the vehicles themselves do seem to catch fire an awful lot. When they do they can't be put out by conventional means and can self combust again many weeks after the initial fire. Then finally. There is the insurance costs. They would make Jaguar Land Rover owners wince!

And what is the best-selling car in the world in 2023? Isn't the Tesla Model Y, by chance, an electric car? I have owned a Chinese electric car, Dacia Spring, for two years, which cost me about half of the cheapest petrol car (fixed 8,000 euros), and which consumes around 11 kWh/100km, i.e. the equivalent of 1.5l of gasoline/100km. In a maximum of 5 years, the cost of the car will be amortized only from the difference in the price of fuel, not to mention the almost complete lack of maintenance (no oil changes, filters, distributors, spark plugs, etc.).

"Whenever you see a successful person you only see the public glories, never the private sacrifices to reach them." ---Vaibhav Shah

every single ev once 8 years old only worth it's scrap value. i own a leaf and will drive it untill it dies. cant use it in winter here in sweden though. can barely go 50 miles when minus 20c

If its halved in value in a year , How is it good value? Where do you think it's going to be in another year Your just throwing money down the drain

I have no doubt that electricity prices will double by 2030! The pressure on the grid will be astronomical!

EVs are cleaner for the environment. Let’s overlook the mining of the materials needed to make the batteries, the making of the electricity needed to run the car and what happens at end of life? What is cleaner for the environment is to run the car you have for much longer. Even greener is never have a car, that might be the goal though.

6:08 *The MacMaster (UK) is crying Blood how much his car is now worth !*

I'm starting to think a lot of the second-hand EVs will end up in the scrap yard, they are just not going to sell, and will be written off.

Evs are and will soon be universally seen as disposable items. As such., they need to be around a tenth of the price of a 'real' or traditional car that could at least in theory still be on the road in 60 years. There are many adverse issues regarding EVs but by far and away the greatest most intractable one is their inevitable and rapid depreciation. The only way to solve this is for them to be much cheaper than ICEV in the first place, not 30% more expensive. Especially Western car manufacturers started at the top end of the market when they should have started at the very bottom end of it. Who in their right mind, will want to 'invest' in a Porsche EV at £125,000 that loses 65% of its value after just 2 years? This is a depreciation of around £2.00 per mile on average. On the other hand, a car costing around £8,000 new can depreciate almost as quickly without scaring off the potential punters. If the owner gets 10 years out of the glorified milk float before they dump it, they may consider this good value for their money. However, the environmental costs of producing many millions of low-priced disposable cars will be catastrophic, to say the least. If our ruling elites seriously want to save this planet in any way whatsoever the use of any electrically charged fixed battery is a total NO, NO, and NO again. Is it beyond the witts of man to come up with an engine that lasts for a lifetime and does not emit either CO2 or anything else deemed bad for the environment? Of course not, indeed I have no doubt that they already know how to do this. Do you really believe we can't simply capture the CO2 before it leaves the exhaust pipe, how difficult or expensive could this be? EVs are not just a bad alternative they are the worst possible alternative in every possible respect.

Just for starters: I have a 2015 jeep SRT and I recently sold my 2016 Dodge charger hellcat. I recently purchased a brand new 2024 Cadillac lyric, all-wheel-drive luxury three package fully loaded. The media claimed that EV weren’t selling two months before Tesla had its record sales month for the model Y and model three in December 2023. The bottom line is that right now there is a credit crunch, interest rates are high, insurance rates are high, and the only people who can actually afford to buy an EV or a select few who can actually afford to have a place to charge it, making it fit into their lifestyle. The vast majority of the rest of the people are pretty much stuck in gas cars for the time being. The bottom line: this is all linked to global politics. By putting a $7500 tax credit on electric vehicles and a $4000 tax credit on used electric vehicles, this government is basically telling you that they demand that Americans abandoned fossil fuels. I don’t see that happening overnight, but it is slowly happening . This government doesn’t care how deep into debt. It Hass to go to make it happen. By 2030 my state doesn’t even allow gas powered cars to be sold. By 2040 my state won’t allow gas powered trucks to be sold. This industry is going to rapidly develop EV technology and improve batteries Within the next 15 years. We lost the proxy war with Russia over Ukraine. Before that war, we had plenty of cheap Russian oil coming into America and prices were low. Remember back in 2020 when Russia and Saudi Arabia had a oil production conflict? They sent prices into the negatives when you added in the “pandemic“ which caused oil futures to plummet . America has decided that independence is going to take the place of solar panels, windmills, other forms of green energy and electric cars. No matter how much people try to fight it it’s not going to help.

Apparently the battery in an electric car only has a life span of four to six years. The cost of a new battery is £16000 plus !

I don't see an EV as financially viable. A car is the second biggest purchase after property. I think with all the issues and lack or parity with ICE cars, most of the common drivers (the majority) would not even consider buying one. I do feel sorry for people who actually bought an EV with cash or on finance, seeing the value dropping through the floor must be a tough thing to stomach.

If the tax incentives have gone, cost of charging is as much if not more than a petrol or diesel car and values are dropping by several times that of petrol or diesel car where is the advantage or incentive to buy one. Who says that the values won't plummet even further ovet the next few years?? I don't think I will be spending £45 or £50K on an electric car that may well loose another £15 or £20K in the next couple of years.... I think there will be a limit to the percentage of electric vehicles because of the inability of owners without their own driveways/cost or inconvenience of public charging. When the electric charging infrastructure is happening at a snails pace why would you buy into it unless money is no object and you can charge at home and don't do high mileage

This is very simple the people buying these are businesses and they are 100% tax write off with low benefit in kind. The savings are 25% corporation tax and 33.75% corporation tax. Total 58.75% cheaper as opposed to owning the car directly.

MILK FLOATS! Even the milk floats stopped using electric motors.

EVs are great for lowering pollutants in cities. Great for cleaner air in large towns. But please, can we have a proper discussion around "whole of life" environmental impact. Given the fossil fuels required to produce the steel to construct an EV, given the vehicle still needs fossil fuel derived electricity in most places in the world to propel them, given the greater propensity for low damage right, there seems to me to be little overall environmental benefit of EVs.

Too big, too heavy, poor range especially in winter. Charge network can double journey times, and the government can turn off chargers if it wants to. And you are tracked. Battery capacity reduces over time, especially if you don’t use it much (like your laptop). All in all - awful

Are you mad? how are batteries made? a small knock and they have to be scrapped for safety....better for the environment?

Only milk cart should be electric

Audi ETron overrated with a real world range less than 200 miles.

The Electric Vehicle failed 100 years ago and is failing now

Wait and they will get even cheaper

50k for a Taycan isnt value for money because in 2 years time it will be worth 25k, if not less. All EV's are like any other electrical item, depreciation is rapid until it's worthless and then binned. Not very ECO friendly

They are not cleaner at all. The extra weight makes toxic brake dust an issue. Manufacturing a new EV every six years is not good for ant environment. My 22 year old supercharged Mercedes does close to 40mpg and is go8ng strong.

The evs are easy to catch on fire how is the land rover discovery it might be June or July when you get your car back

The world needs ways to reduce carbon emissions...eliminate emissions from govt bureaucrats elected and unelected.

The Germans don't know how to build affordable EVs , they've handed their future production to Chinese auto manufacturers 😊 and they know how to build world beating EVs 😉🇨🇳

Not worth the ownership hassle and high cost, EV's are going the way of the Dodo

What do you think of the EV market right now? Let me know below ⬇️

Well if I ran my oven off a 13 amp socket my turkey wouldn’t be ready on Christmas Day. So I don’t run it off a 13A socket, and it is ready. Same logic applies to an EV.

New models are coming out. The new Polestar 2 new 2024 model just out has some great upgrades but a late older gen 2023 cost new £52k now with a few thousand miles on the clock £29k fully loaded. That’s a lot of Car for the money and this is the extended range. They are saying the new Renault 5 retro is going to come in at £25k new and that’s brilliant. It’s not EV’s don’t work it’s just they were always over priced and that is changing. Again the new MINI second gen is about to hit roads in March your looking at gen one. Gen two does double the miles to a charge. Tell me you know the latest gen is coming out so that’s a big influence. You seem to actually have a poor grasp on what is happened and it’s model specific in most cases. Porsche have just exited its next EV will blow the previous EV they make out the water. It’s the Osborne effect all over again.

Not keen on buying second hand electric goods .New battery is the price of the car. Electric cars are all Born terminally ill, might survive 3 years, 6 year, 10years if your very lucky.

It takes some delusion for anyone to claim that EVs cost 2p per kWh to charge, while many addresses, locations and models will not qualify for the discounted EV rates that actually provide an Economy-7 style pricing structure by offering lower rates between around 11:30pm and 5:30am at the expense of high daily standing charges and the rest of the day charged at between 32-40p per kWh. Add the real-life efficiency rate of 2-3 miles per kWh on average by most EVs, try to charge during the day or outside your home and you’ll be paying 20-40p per kWh, in addition to the steep depreciation. Motorway stations typically charge around 80p per kWh, which makes EV motoring cost per mile more expensive than running a large petrol engine. In some cases, EVs lose a third of their value in a year. In the market above £100k, it’s even worse. Audi e-Tron and Porsche Taycan depreciation is shocking, costing tens of thousands a year. Watch the space, whereby all the people buying into this nonsense from the purchasing desire of wanting cheap motoring are being hit by their insurance renewal, servicing cost, battery problems, inability to match the same spec in a new finance deal and so on! Only fools throw thousands every year if not more on the promise that they may save a few hundred in fuel and road tax!

EVs is a scam! Its about control. By a flick of a switch you are not able to move or relocate.

Just don't buy new EV. Buy used EV.

If the tax payer has to subsidise EVs they are not viable - end of storey.

May be hydrogen cars are better than evs

Lithium price is basically the main issue with EV. Nothing else.

We have 2 electric cars a Tesla 100D and a Nissan leaf. Servicing is virtually non existent and its common knowledge to get onto a decent electricity plan... Octopus energy have multiple cheap plans overnight or the wholesale tracker. Electric cars a significantly cheaper to run.

Yes, it is total scam electric vehicles,electric cars have incentives from the guvernement but not to mention this type of cars are very expensive to insure,and many of insurer company dont even want to insure you electric car, and very easy to writen off,and to replace the electric battery for these its like to buy another brand new car,sorry this its the true.