EV vehicle question

[JohnS]

13 minutes ago, El Presidente said:

Australia has the highest per capita deployment of rooftop solar in the world. Rooftop solar is installed on around 30 per cent of homes.

True. It's a strange feeling when first installed, but I must admit I have become used to, and I enjoy, consuming electricity for free during the daytime

[joeypots]

On 4/6/2024 at 12:50 AM, BrightonCorgi said:

What's odd in the States is if you go to Arizona where it's hot and sunny all year, no one has solar panels. In MA (north east) solar panels are quite common, but not as needed or helpful as they would be in AZ. It's like there is a cabal for or against solar panels depending on your locale in the States.

And there are a fair # of EVs in New England. I think the cost of ownership and resale value are of little importance around here. True believers are buying into the technology because of a visceral attraction. Tax credits helped put them on the road but they are a mostly luxury item and not a purchase made with pencil and paper. Used cars are bought by people looking for value so the slow market for used EVs is not a surprise.

There was bad press about Toyota not embracing fully electric cars quickly in favor of hybrid tech. It seems almost everything they make can be had in hybrid drive and getting better mileage in large vehicles that are driven hard is a strong selling point. A used RAV 4 hybrid is still a desirable auto.

[BrightonCorgi]

8 hours ago, joeypots said:

There was bad press about Toyota not embracing fully electric cars quickly in favor of hybrid tech. It seems almost everything they make can be had in hybrid drive and getting better mileage in large vehicles that are driven hard is a strong selling point. A used RAV 4 hybrid is still a desirable auto.

A buddy has a Jeep Wrangler Sahara plugin hybrid and it's a nightmare. Great looking with every feature including power top. Been back to dealer numerous times for hybrid/battery issues. Warranty is up later this summer. He's hating the prospect of huge dealership costs as local mechanics aren't going near that tech. Ask him if he'd buy another...

[El Presidente]

8 hours ago, BrightonCorgi said:

A buddy has a Jeep Wrangler Sahara plugin hybrid and it's a nightmare. Great looking with every feature including power top. Been back to dealer numerous times for hybrid/battery issues. Warranty is up later this summer. He's hating the prospect of huge dealership costs as local mechanics aren't going near that tech. Ask him if he'd buy another...

To be fair.....It's a Jeep

They can barely manage ICE tech. 🙄

[Fuzz]

On 4/6/2024 at 9:26 AM, JohnS said:

True. It's a strange feeling when first installed, but I must admit I have become used to, and I enjoy, consuming electricity for free during the daytime

I enjoy getting paid every month for using solar! So far since January, I'm up $500.

[Uwiik]

On 4/4/2024 at 9:07 AM, El Presidente said:

I mentioned the other day that I was looking at a Ioniq  N6 electric as a toy. I intend to keep my N130 6 shift stick. 

I am electric/ICE agnostic. I need to upgrade one of my cars in the next 6 months and am not locked into either tech. 

However I do have a question in relation to the second hand market of EV's given I change cars every 5 years. 

Let's say I have a choice tomorrow of purchasing either a Porche Taycan electric or a Porsche Panamera 4.

I travel 12,000 km a year so after 5 years 60,000 km. 

My question (which the dealerships fob off) related to the resale value of each after 5 years. 

I pretty much know what the ICE will achieve. I am not sure what the electric will achieve.  As I mentioned to the dealer that they could solve my conundrum by providing a guaranteed buy back figure on the EV. They declined. 

Is it a legitimate concern on "top spec/luxury" EV's that continued battery evolution (and existing battery degradation), makes them vulnerable to the depreciation rate of a Range Rover....or worse 

Would love your thoughts. 

I have seen all around me, where EV is depreciating like a rock, a 3 years old Tesla valued at less than 50% the buying cost etc…Hyundai Ioniq sells like a hot cake with a long waiting list here but still the resale value is as bad as it gets, people complaining about charging time on road trip etc. But it is a very nice car, it doesn’t feel/looks cheap at all, is built quality comparably to their German counterparts. If I were you, I would buy a Lexus hybrid and be done with it. I own a Lexus hybrid and couldn’t be happier, sometimes I think the fuel meter is broken because it just doesn’t go down making me giggle on a road trip, especially when refueling and seeing the EVs still stuck for hours recharging on the same refueling station. I think Toyota/Lexus is going in the right direction right now. Unless you are going to the Taycan EV territory where you are only using it for around town blast, I wouldn’t go to EV yet, IMO it is still an unfinished technology. I'm not sure in the future where EV tech will develop further… 

[helix]

IMHO fuel cells will be the future of the EV.

https://www.ecoticias.com/en/evs-porsche-hydrogen/2029/

[SMELTZ]

Fuel cells problems having nothing to do with the technology, Toyota has has them in Japan for many years. The problem is supply or fueling them up out on the road. Converting gas stations or creating new fuel stations for supply will be the biggest obstacle in my opinion.

[Trapper99]

On 4/7/2024 at 12:42 AM, Uwiik said:

I have seen all around me, where EV is depreciating like a rock, a 3 years old Tesla valued at less than 50% the buying cost etc…Hyundai Ioniq sells like a hot cake with a long waiting list here but still the resale value is as bad as it gets, people complaining about charging time on road trip etc. But it is a very nice car, it doesn’t feel/looks cheap at all, is built quality comparably to their German counterparts. If I were you, I would buy a Lexus hybrid and be done with it. I own a Lexus hybrid and couldn’t be happier, sometimes I think the fuel meter is broken because it just doesn’t go down making me giggle on a road trip, especially when refueling and seeing the EVs still stuck for hours recharging on the same refueling station. I think Toyota/Lexus is going in the right direction right now. Unless you are going to the Taycan EV territory where you are only using it for around town blast, I wouldn’t go to EV yet, IMO it is still an unfinished technology. I'm not sure in the future where EV tech will develop further… 

The issue with Tesla depreciation is the new price was over $60k 2-3 years ago for a new Model Y, and a few months ago we purchased our Model Y LR just a smidge under $40k after tax credit. It’s one of the only things the last few years that hasn’t majorly inflated. 

Current year Teslas don’t have as far to fall as the older models did. 

[Lamboinee]

In the States, I think the rate of depreciation is worse for EVs when compared to ICE/hybrids. I think this is applies across the board. The only EVs I'm aware of that have resold for prices that are better than comparable resell prices for non EVs were the Teslas that people were "flipping" to other morons. Those days are over. Here in the States, COX Auto owns/controls a significant portion of resell market and I have posted a link to a recent market report about resell values below...from the charts and such, for early 2024, the only category that did worse than EVs was the compact car segment, and compacts were only worse by a single red FUPA hair....and this is America...the compact car segment is basically a bow legged soulless ginger bastard step child with Ebola. 

https://www.coxautoinc.com/market-insights/april-2024-muvvi/#:~:text=Seasonally adjusted EV values for,3.0% over the same period.