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Has The Electric Car Bubble Burst?


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#211 Designer

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Posted 13 March 2024 - 07:46 AM

Interesting that a recent survey has found that half the dealerships interviewed were reluctant to buy second hand EVs from people as the resale prices were dropping so rapidly day to day. In some case from new depreciation was 46% after a year or two.

 

"We Buy Any Car" I wonder what their policy is going to be and how low are their prices going to be. 



#212 Shooter63

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Posted 17 March 2024 - 12:44 PM

EV related, has anybody noticed that there car insurance has gone through the roof, my daily driver is a big engined turbocharged oil burner, last year the insurance was £495.00 this years renewal is £800.00!!!!! I've got a clean licence etc, no changes at all, after shopping around my present company is actually the cheapest which is unusual. I happen to know a guy in the insurance industry and asked him why has it gone up so much as I didn't believe the speil being punted out on the net. The true reason is that the insurance companies are writing off so many EV's that are involved in accidents in case there has been some sort of a battery pack damage leading to even more of the sodding things catching on fire. Happy days.

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#213 PoolGuy

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Posted 17 March 2024 - 01:29 PM

Van insurance has gone up 23%, haven’t shopped around yet but limited options for a modified, commercial with business usage.



#214 RichMPiBlue

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Posted 17 March 2024 - 07:52 PM

I am jumping into the electric car world in April for my daily and will part ex my daily VW diesel estate same time. Drove a friends touring Scotland back in 2021 while on holiday, recently Wales last week as well and was turned. I think they're great. 



#215 Aly-g

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Posted 21 March 2024 - 06:35 PM

We are supposed to be getting EV’s Airside at Heathrow soon. However after i conducted some interviews two weeks ago, one of the applicants who is a Honda Engineer raised a potential sticking point.

When an EV goes up in smoke especially a Lithium battery powered type, the only true way to fully extinguish the vehicle when the battery pack is burning is to submerge it in water. The whole vehicle. So large tanks of water will be needed to push the vehicle into.

Food for thought!!


I'm working on a project to upgrade our EV charging provision at work, one of the things we have is a list of requirements and guidance from our insurers on where they can be positioned to reduce risk.
 
I think EV's are relativly safe at the moment (from a fire perspective) because they are all quite new and maintained mostly be main dealers/specalists.  I can see this changing as they get older and the backstreet garages and car dealers start to get hold of them and bodge them up for sale.
I wouldn't have an EV if you gave me it for free, they cause more pollution to the world we live in than ICE cars, I don't fancy the idea of the manufacturers being able to control what I do with my car and to switch it off when they like, just like having a smart meter really only more controlling, they don't work !

#216 mab01uk

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Posted 21 March 2024 - 07:57 PM

kRDAk2hh.jpg

 

EV submerged in a special water tank at a salvage yard to fully extinguish the Lithium battery pack before safe scrapping/dismantling of the car...a long expensive process and just one of the reasons EV insurance premiums are on the increase.


Edited by mab01uk, 21 March 2024 - 07:58 PM.


#217 Aly-g

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Posted 25 March 2024 - 11:56 AM

I believe that some fire brigades are now using this method to extinguish EV fires !
I watch macmaster on youtube and his 2 year old Porche Tigan is now unsaleable, it cost £120.000 when he purchased it,

Allan

#218 Steam

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Posted 25 March 2024 - 07:11 PM

kRDAk2hh.jpg
 

EV submerged in a special water tank at a salvage yard to fully extinguish the Lithium battery pack before safe scrapping/dismantling of the car...a long expensive process and just one of the reasons EV insurance premiums are on the increase.


If they did that from new it would solve heaps of problems. ;-)

#219 PoolGuy

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Posted 25 March 2024 - 07:12 PM

With the drivers inside…



#220 mab01uk

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Posted 03 April 2024 - 06:22 PM

Not even Elon can save EVs from disaster....
"Never was the old adage “don’t buy the prototype, buy the redesign” more appropriate. Motorists who bought an electric vehicle in the belief that it would hold its value better than a petrol or diesel must be feeling a little sore. According to the AA, the secondhand values of the 20 most popular electric and hybrid cars was down 12 per cent in the first quarter of this year compared with the first quarter of 2023. That is the drop in value of like-for-like cars, not what buyers can expect to lose in depreciation over the first year.    
In some cases the fall has been far greater. According to a recent survey by Cap Hpi, the value of a one year old Peugeot e-2008 with 10,000 miles on the clock fell 38.7 per cent between January  and December 2023.
The tide has turned for Tesla, too, as it runs out of well-off, eco-conscious motorists interested in buying its vehicles. In the three months to March it sold 386,810 vehicles, down from 422,875 in the same period in 2023. Tesla shares plunged seven per cent on the news – although given that the company’s market valuation is still nearly twice that of the world’s second most valuable carmaker, Toyota, no one should be confident of a rebound any time soon.
EVs have been pushed at us on a promise that they have been unable to fulfil. A surge in interest from wealthy people who like to show off their environmental credentials was mistaken for an inexorable market trend towards EVs. As it happens, the share of the market held by pure electric cars has stalled at around one in six.
Much of it has been based on the fantasy that all you need to do is to set a few targets and affordable technology will magically appear in order to help you reach those targets. Sadly, it has not quite worked out that way.  China has been the biggest winner – and UK buyers of pricey electric cars among the biggest losers."
https://www.telegrap...op-ev-disaster/

 



#221 mab01uk

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Posted 05 April 2024 - 06:29 PM

"If you fancy a new petrol car, best buy it now, before it is too late. It surely won’t be long before car manufacturers start to admit that their UK sales operations are in serious trouble, leading some to start withdrawing from the UK market altogether. Why? Because since January car-makers have been under the zero emission vehicle mandate (ZEV), to make sure that at least 22 per cent of the vehicles they sell are pure battery models – a proportion that will rise steadily until it reaches 80 per cent by 2030. If they fail to reach the target they could be fined £15,000 for every extra non-compliant vehicle they sell.
The trouble is, the proportion of sales made up by electric vehicles in March was only 15.2 per cent, and it going in the wrong direction. In March 2023, it was 16.2 per cent. It isn’t hard to work out what is going to happen. Unless there is a sudden pick up in interest in electric cars, manufacturers are going to find themselves in an impossible situation. They will be left with masses of unsold electric cars, while the cars they can sell – petrol and hybrids – will be subject to huge penalties.
So much for the idea that the Government has done the motor industry a favour by putting back the date of the proposed ban on petrol cars from 2030 to 2035. It is the ZEV which is the industry’s slow, silent nemesis. If car-buyers don’t want to play ball – and it seems they don’t – it is going to destroy the industry in Britain.
If the Government wants to retain a car industry, it needs to rethink the ZEV quickly – before car-makers start to find themselves paralysed by huge fines for the heinous crime of selling too much of a product people want to buy and not enough of a product which they don’t...."     
https://www.telegrap...s-it-should-be/

 



#222 DeadSquare

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Posted 14 April 2024 - 11:05 PM

Today, I have come to the conclusion that the future of the battery electric car, is just a high performance summer sports car.   Why ?

 

1)  Having ended up 3 miles short of home on a trip with a friend to day.  there needs to be some sort of "electric, spare can of petrol". 

 

2)  I shivered in the same car on a trip last winter.

 

Electrically propelled cars need to be refuel-able and comfortable and the only choice that I can see that does both, is the hydrogen fuel cell, which in the present stage of development, means putting up with the performance of a pre-war Austin 7,  because there is only enough power to keep the car cruising.

 

Actually, that is not exactly true.  with a small battery, it could accelerate smartly to get up to speed, or take a short hill, but about the only overtaking, would be a cyclist.



#223 PoolGuy

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Posted 15 April 2024 - 06:39 AM

 

1)  Having ended up 3 miles short of home on a trip with a friend to day.  there needs to be some sort of "electric, spare can of petrol". 

 

The AA have the facility to come and charge your empty electric vehicle, much the same as they’ll bring you some petrol for a proper car.



#224 DeadSquare

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Posted 15 April 2024 - 08:19 AM

 

 

1)  Having ended up 3 miles short of home on a trip with a friend to day.  there needs to be some sort of "electric, spare can of petrol". 

 

The AA have the facility to come and charge your empty electric vehicle, much the same as they’ll bring you some petrol for a proper car.

 

Thank you for that jolly useful information, it would have saved me rescuing him with the dolly. 

 

I'll tell him to join the AA, but I'm not sure that he likes 'Bombay Mix'.



#225 humph

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Posted 15 April 2024 - 10:54 AM

I've given up responding to this thread, but this post needs a response. 

 

As someone who's been running an EV for 18 months plus, in a household where all daily cars are EVs, there is no excuse for either of the complaints in points 1 & 2, both are user error not a failure of the car. 

 

If he’d run out of petrol/diesel 3 miles from home, would you have blamed the car? Absolutely not you’d be saying your mate was daft for ignoring his fuel gauge, why is it any different in an EV? Running out of charge is just poor planning on the user's behalf, no excuses. There are dozens of route planners that are very accurate & will route you around chargers on you route, so there’s no excuse being caught anywhere in the country with no charge.

 

Point 2 is just pointless as climate control, if set up correctly, has little to no effect on EV range.  The argument re cold weather and air con affecting range, is a bit of a nonstarter for me, as both affect the range of your petrol/diesel car in just the same way, but the naysayers never acknowledge that. I’ve had numerous cars that when the aircon was switched on power & mileage dropped considerably, it’s just physics. 






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