No One Wants Used EVs, Making New Ones a Tougher Sell Too

[1srelluc]

No One Wants Used EVs, Making New Ones a Tougher Sell Too

(Bloomberg) -- The shift away from cars with dirty combustion engines is running into a new hurdle: Drivers don’t want to buy used electric vehicles, and that’s undermining the market for new ones, too.Most Read from BloombergHyperloop One to Shut Down After Failing to Reinvent TransitTencent...

finance.yahoo.com

In the $1.2 trillion secondhand market, prices for battery-powered cars are falling faster than for their combustion-engine cousins. Buyers are shunning them due to a lack of subsidies, a desire to wait for better technology and continued shortfalls in charging infrastructures. A fierce price war sparked by Tesla Inc. and competitive Chinese models are further depressing values of new and used cars alike, threatening earnings at rivals like Volkswagen AG and Stellantis NV.

Because most new vehicles in Europe are sold via leases, automakers and dealers who finance these transactions are trying to recover losses from plummeting valuations by raising borrowing costs. That’s hitting demand in some European markets that were in the vanguard of the shift away from fossil fuel-powered propulsion. Some of the biggest buyers of new cars, including rental firms, are cutting back on EV adoption because they’re losing money on resales, with Sixt SE dropping Tesla models from its fleet.

I can't imagine buying a used EV without a battery warranty, the whole idea of making such a purchase just seems stupid.

.Gov subsidies for cheap cheap China replacement batteries?

There will be no end to the retarded gyrations the whole EV thing will spur.

 

[Polishprince]

Sounds particularly problematic for banks who are financing these vehicles. If the collateral isn't valuable enough to cover the loan in case of default , that raises the costs of borrowing.

Car dealers may need to get liens on people's homes to assure they get their money back.

 

[iamwhatiseem]

EV market CAP has fallen almost 50% in the past 2 years.
It was a bubble created by the virtue signaling religion.
Once the zealots all ran out and bought one.... they ran out of customers.
And some of those customers are now wanting hybrids instead of full EV.
So even the number of zealots are falling.

Some sort of EVs will absolutely take over the market. It makes good sense and should happen.
But what is offered today, is a far cry from what makes good sense.

 

[DudleySmith]

They're just fashion accessories, so of course no one wants last year's models or the ones aimed at suckering proles into wasting their money on them. They don't want cheap trash parked next to their Ferraris and restored Bugattis.

 

[DudleySmith]

Some sort of EVs will absolutely take over the market. It makes good sense and should happen.
But what is offered today, is a far cry from what makes good sense.

France mandates a target price of around $8,000-$9,000 American equivalent for a new one; the U.S. hands out $25,000 or so to wealthy fashion victims for buying $100,000K + shitpiles. Guess which policy will eventually work and which one has already failed in less than 5 years.

People around here have to commute from say Weatherford to Dallas all week, and still less than affordable housing at that. No way EV's are viable for them, even at half price. Not any different from the LA region, where 3 hour one way commutes are common as dirt.

 

[Crick]

Solid state batteries and green power will eliminate all your objections.

 

[DudleySmith]

Solid state batteries and green power will eliminate all your objections.

lol rubbish. 'Green power' can't even begin to provide the juice you nutjobs are piling on to the grid.

 

[1srelluc]

Solid state batteries and green power will eliminate all your objections.

Even green power gives out by and by.....Then there you are, all decked-out, sitting upon your dead horse.

 

[Crick]

Even green power gives out by and by.....Then there you are, all decked-out, sitting upon your dead horse.

Green power is generally renewable power.

 

[ding]

Green power is generally renewable power.

And unsuited for base loading power grids.

 

[Crick]

And unsuited for base loading power grids.

Nuclear works just fine.

 

[ding]

Nuclear works just fine.

Yes, it does. So do fossil fuels such as natural gas and coal. Solar and wind? Not so much.

 

[Toddsterpatriot]

Green power is generally renewable power.

Don't try to use it to keep your family warm in Chicago in January.

 

[1srelluc]

Nuclear works just fine.

Oh so now you are a proponent of nuke power.....How convenient, you must now realize that wind/solar is a scam/grift to fleece the taxpayer.....Glad you came around to my way of thinking instead of your feels-based green-weenie tripe.

 

[Toddsterpatriot]

Oh so now you are a proponent of nuke power.....How convenient, you must now realize that wind/solar is a scam/grift to fleece the taxpayer.....Glad you came around to my way of thinking instead of your feels-based green-weenie tripe.

He's one of the few greentards who favors nuclear power.

 

[DudleySmith]

Oh so now you are a proponent of nuke power.....How convenient, you must now realize that wind/solar is a scam/grift to fleece the taxpayer...

^^^This. Except that the 'Green' cultists aren't going to support nuclear power plants.

 

[Captain Caveman]

To subsidise EV's you need the tax dollars. To get the tax dollars, you need to get this off ICE car drivers from fuel and road tax, and/or raise other taxes. As the ICE driver dries up, you then need to tax the EV driver, and/or raise taxes elsewhere even higher. Then as this goes on, the EV driver will get a reality kick in their heads.

 

[Oddball]

Solid state batteries and green power will eliminate all your objections.

And if you catch Lucky the Leprechaun, he'll give you his pot of gold!

 

[1srelluc]

To subsidise EV's you need the tax dollars. To get the tax dollars, you need to get this off ICE car drivers from fuel and road tax, and/or raise other taxes. As the ICE driver dries up, you then need to tax the EV driver, and/or raise taxes elsewhere even higher. Then as this goes on, the EV driver will get a reality kick in their heads.

In Virginia EV drivers get hit with the same yearly registration tax (around $12 extra) that econobox ICE vehicles get hit with because they don't use as much gas.....I think it should be double again for EVs given their weight.

 

[Oddball]