Why You SHOULDN'T Buy An Electric Car Right Now

We spend a lot of time on this channel giving you the information you need to make your next car a cleaner, greener, safer and smarter model.

Yet right now, we think it's a terrible time to buy a new EV.

Here's Why...

Presenter: Nikki Gordon-Bloomfield
Script: Nikki Gordon-Bloomfield
Produced: Transport Evolved
Teeshirt: Transport Evolved

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00:00 - Introduction
02:30 - The 50,000 Foot Answer
02:59 - The Chip Shortage
04:29 - Demand Outstrips Supply
05:29 - Buying Off-Spec
06:51 - High Demand Leads To price Gouging
08:24 - Bolt EV and Bolt EUV Recall Don’t Help
11:26 - Our Advice

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Please watch: "2023 Kia Niro EV: Why You'll Want To Drive This"
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[scotth]

You're such a good speaker. Love that there's no annoying background music, and good microphone technology. So many amateur YT'ers out there that don't do this well. You're a breath of fresh air.
Also love your integrity, that you're telling people NOT to be an EV right now, even though your stated agenda is "cleaner, greener, safer and smarter".
I subscribed. I'm thinking about buying an EV in the future, but I'm concerned about the charger standards problem. It's like the old VHS vs Betamax situation. I keep my cars a long time, so I'm going to wait to see which standard wins before I buy a car and find out that I can't charge it anywhere.

[lawngnomes]

I can't wait for a "Labrador reacts to the Mach-E acceleration" and "how many puppies fit in the bed of the CyberTruck?"

But in all seriousness, thanks for all you do and for keeping everything in context with appropriate excitement and skepticism.

[sjones]

Great video! I managed to beat the odds at the beginning of September and leased a brand new 2020 Kia Niro EV from a dealership 100 miles away from me. I got a crazy good deal on it. $17k off MSRP with included dealer incentives and Kia incentives. That number also included $7500 off to cover the tax credit that Kia Finance was offering. The car had been on the lot for over 385 days. It was in a small town at a small dealership so they just wanted it off the lot. It was their last 2020 model as well. I brought it through their online department, took a bus to the town, took an Uber to the dealer, and drove off in about an hour. I got very lucky.

[chidorirasenganz]

I got lucky. I sold my 2019 Chevy Spark for more than I bought it for new.

Then I put that towards a 2021 model 3 when they put out the existing inventory with LFP batteries. No regrets lol

[GrantCustomBanjos]

Just traded my 2015 sv leaf for 2018 s leaf. Love it! Haven't bought gas since March...saving $175 per month so far.

[wincrasher]

I ordered a Model 3 when they first started making noises about selling out the 3rd quarter. They say I'll get it in November. By sheer luck, I beat the latest price increase. It's always good to keep your ear to the ground, and watching channels like TE is one great way to do that. I agree, that if you don't have a strategy to pay MSRP or below, it's best to wait. There are so many compelling EV's in the pipeline, it will be a buyers market in the Spring/early Summer of 22. Frankly, for 99%, a new car is a want, not a need. So many people have multiple cars - it's amazing that the used car market is so nuts, as alot of people could dispose of their 2nd or 3rd cars.

[bb]

I’ve been a subscriber to this channel for a long time. I enjoy it quite a bit. On occasion this channel over the years has given reasons to hesitate in buying an EV. 1. Difficulties in finding charging stations when traveling. 2. Problems with battery packs (fires). 3. The initial expense in buying an EV which leads to this video. EVs are even more expensive because of the chip shortage. Thank you for the content.

[bluesteve]

I always appreciate the amount of thought and consideration that you all pour into your reports. Thank you so much for what you are doing!

As easily swayed as I am by "new and shiny, " I find myself increasingly drawn to the idea of converting a classic vehicle (vintage Citroën anyone? ) to B.E. from both "cool factor" and sustainability angles.

[robert]

Someone needs to make a app that list dealers selling at MSRP for all brands

[davidedwards]

We ordered our mustang Mach E online and I have to say it's been the most seamless process the one thing I really love is there was no haggling about price I know exactly how much the car is going to cost and I don't feel any pressure from my dealership. Our car is expected to arrive this November and I already got to set up a bunch of things for the car and send it to the car. Sure it was delayed because of the chip shortage but now it's back on track and I'm happy to wait.

[rhackenb]

I received a GM offer to buy back my 2017 Bolt Premier (24, 000 miles) for $35, 000. I accepted and returned the Bolt for the money on Sept 20. Then on Sept 24 I ordered a 2021 Tesla Model 3 LR. The price was $49, 990. This past week I noticed that that model jumped $1500 on the website. I feel doubly bless in all this, getting $35K for the Bolt and ordering the Model 3 just a short time before the price jumped $1500. Predicted delivery is mid November. BTW, we already have a 2019 Model 3 LR (my wife's car).

[hikintrailsndrinkinales]

Well… I already have a Model X on order (expected delivery: May 2022) and I’m not canceling it.

[lorrainehinchliffe]

I bought a 2021 Kona Ultimate in July.
I paid msrp less $5000 government rebate and $500 dealer loyalty bonus.
I’m in Canada, I don’t know if that had anything to do with it but I’m happy.

[derekdufon]

I just bought an ID.4. it’s a good time to trade in that gas car and buy one.

[CubbyTech]

I'm one of those who had to return my leased EV back in May. Purchasing it wasn't an option as it had a 70 mile range on a summer day. I started shopping for a replacement about 8 months before the lease was up. Had I known that we'd be in this supply chain mess I would have jumped at that used $22K EV I've had my eyes on. Thanks for covering this perspective, Nikki!

[daveshep]

I am part of the problem—this very week. On Monday, I completed the buyback of my 2019 Bolt. On Tuesday I bought a Kia Niro EV. It cost a LOT more than the Bolt had, but I found a dealer that offered it for $1, 000 below MSRP, including a $2, 000 rebate from Kia.

When my wife and I noticed that the sticker price was only $1K above the selling price, not $2K, the salesman told us this was because the market adjustment fee the dealer added on was “only” $1, 000 above sticker. Indeed, a different dealership, where we test-drove the car a few weeks ago, wanted $3, 500 extra.

Should we have waited and held onto the Bolt? Maybe, but GM’s buyback offer was so generous we couldn’t ignore it.

I hope the EV market settles down soon. I’ve been preaching the gospel of EVs to anyone who would listen for over two years.

[andrewhayden]

We have a Model Y on order - expected in December or January - and the buying experience has been pretty terrific so far. We know exactly what we are going to pay and never once had to "talk to the manager" or felt pressure to "order today" (other than the fact that Tesla delivery timelines kept getting longer and longer every day. What I definitely recommend if you are considering an EV is to take this time to do your research and make sure that the car you buy is what you truly want. Take multiple test drives and even consider renting your preferred car through Turo to spend a day or two getting to know it. We had multiple drives through Tesla (with zero pressure to buy, just very enthusiastic service center personnel who were excited to talk about the car) and did the day rental too. Once we made our decision, everything through the ordering process has been very streamlined, including the value of our trade-in increasing as we wait for the new car. I doubt we will ever set foot in a car dealership ever again.

[jandraelune]

There is also a rubber shortage effecting cars, hardest hit has been semi-trucks. The tax credits are non-refundable, that means it only covers tax you owe, owe nothing, get nothing. That means for most people the tax credit gives them nothing.

[Zigblat]

See the new video: "Cat annoyed EV engine hood not warm enough."

[simonreeves]

Nikki, so pleased I bought my new i3 BEV in September 2019. Demand was low, and I got a stonking good deal through a brokerage. I am amazed, and very pleased to see the demand for EVs has rocketed since that time. Here in the U.K., diesel sales were 73% down year on year in September, petrol (gas) sales down 43%, but BEV sales up 46%. Best selling car here in September 2021? The Tesla Model 3 - this is just awesome! Everyone wants or is seriously interested in electric cars. Helped by a recent fuel shortage, caused by a lack of tanker drivers, but none the less, great news!