Re:California EV sales are falling
by genocidicbunny on Monday February 19, 2024 @03:26PM
(#39434383)
My 8 year old ICE is still worth about 60% of what i paid for it, and that's with quite a lot of miles on it.
Re:California EV sales are falling
by thebruce87m on Monday February 19, 2024 @03:31PM
(#39434452)
I’m sure there are outliers, but yours is far from the norm in the UK at least.
> The average car depreciation will hit hardest in the first year of ownership. Generally, the drop will be around 15-35% in the first 12 months. And that will continue to rise up to 50% or more over three years.
> Year 1: 15-35% depreciation. 65-85% of the original value.
> Year 3: 40-60% depreciation. 40-65% of the original value.
> Year 5: 60-70% depreciation. 30-40% of the original value.
> Year 8-10: 80% depreciation. 20% of the original value.
https://motorway.co.uk/sell-my-car/guides/car-depreciation-g...
Re:California EV sales are falling
by genocidicbunny on Tuesday February 20, 2024 @02:55AM
(#39438948)
Perhaps, but mine is just a high-trim Mazda 6, so nothing particularly exotic or special. Perhaps Mazdas hold their value better, or this is more of a US situation.
Lot of EV's are basically lux cars. And those always have a sharp drop in price.
When I look at the non lux Chevy Bolt the used price doesn't seem that much off the tax and incentive adjusted price of a new one.
I see this narrative pushed a lot, but never with any numbers. When I look at the depreciation of Teslas they seem to be 50% after 3 years, which is absolutely standard in the UK for any vehicle. What are “decimated” numbers?