Here's Why Electric Cars Prices Are Set To Fall

Rory ponders the future prices of electric cars. Will they ever get cheaper? And will it happen any time soon?

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[Bennary]

It’s not just electric, petrol and diesel cars are too expensive to buy new! Too many manufacturers have adopted the “low volume, high margin” strategy

[dodgeysolenoid]

It's not just EV's that are too expensive, it's the whole car market in general.

[Vilmir]

Problem about EV depreciation is not the factual battery degradation over 5-10 years, it is the belief that batteries have a very short lifetime and degrade quickly. It will take time to fix up this belief with facts.
We first need transparency on the battery health when buying a used EV. It needs to be testable and consultable in the OS of the car.

[davidg]

Prices have been crashing for more than a year. Picked up a Mercedes EQC pre reg for just 43k. 15 months ago 79k. Same for all of the other desirable marques. Only issue now if that if you do not have a home charger it makes no sense as public charging is mor expensive than petrol

[abrahamk]

Am I the only person who doesn't care about their vehicle's depreciation? I drive my vehicle until the wheels fall off. Then I fix it up and drive it for a few more years.

[JohnSmith-rpbc]

“And that Jag is still covered by their manufacturer’s warranty” - that’s reassuring said no one, ever !

[richardweyland]

In Australia the courts ruled that EV's cannot be advertised as zero emissions because it is a flat out lie.

[celt]

Ive watched hundreds of videos featuring EVs... and almost ALL of them come to the same conclusion....the cars are great, the charging network is utterly horrendous. Chargers not working, chargers not accepting payment methods or certain cards, chargers running painfully slow, chargers slots all full and people having to wait up to an hour just to get on one if they're lucky...
And as for the 'i charge at home' squad....good for you. I saw a video only last week that stated only 22% of British car users have access to driveway parking. And not everyone has the luxury of waiting over an hour just to 'fill up'. The cars are good (not great), but the infrastructure just doesn't exist. And nobody seems to be doing anything about that.

[TNY]

ZEV Mandate does not say 22% of a manufacturers range has to be EV this year, it's 22% of their SALES

[strangerthanparadise]

Depreciation quicker than their 0-60 times

[juxty]

No mention of insurance and repair costs.

[cliffynod]

They're that cheap second hand because no-one wants them. Simple. Those examples have sat there for months and the price keeps tumbling because they can't sell them.

[trickyrat]

Now, if only they could fix the shitty charging infrastructure..

[delboy]

I have just purchased a 10 month old VW ID5 with only 7k miles on the clock.. The purchase price was 40% below the original cost of just over 50k. It came with a 7 year battery warranty or 100k miles. So I think the prices are already starting to go down. My previous EV was a MK 1 Leaf and was 11 years old and still had an 90% charge when I sold it. I must admit, it only ever had 1 Chademo charge. It was always charged at home on a 7kw wall charger.

[keypoint]

Sounds good. I will wait until after the prices have nose dived. I will also wait until they can be fixed at reasonable cost by the standard garages; don't cost a bomb on insurance and there is fast charging available everywhere.

[equinox]

I saw a BMW IX, 73 plate with hardly any miles reduced from £73k to £55k I haven't got £55k 😅😅😅.

[peterwright]

Car makers are about to hit a perfect storm, Main dealers do not want to take in second hand EVs as part exchange, reason they do not want them on the lot, they have to sell new EVs or face fines of £15, 000 per car they miss the target, so by November/ December they will be discounting new EVs to reach the target, the more they discount the faster second hand prices will fall. Next year will be even worse because they have to sell more EVs than this year. It is a downward spiral how do you stop it when its all in free fall.
Even Motability is pushing EVs, the deposit on a Toyota Corolla touring has Doubled in 2 years now over £1200 (cost new car just over £30, 000) The Toyota B4ZX (cost over £42, 000 ) you can have for £174.

[LittleJoshVarela]

And I’m in the market for a Mustang v8 after watching your review 🤣😂

[dvdsbl]

My Renault Zoe has been two months at the dealership waiting to be repaired and now it has to be shipped somewhere else cause only a specialised engineer can put his hands on it. Don't buy electric right now. It's an early adopter niche where everything is a work in progress. I'm sure in 10 years time it will be much better. Right now it sucks.

[dennishough]

I don't normally watch car videos but being from Autotrader it caught my eye. I am due to change my old freelancer and have started investigating a used EV but the insurance quotes have been an eye opener with some companies charging double the premium . I am now not sure as the cheaper quotes may just be to lock me in for future rises in cost.