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

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

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.

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

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.

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

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

No mention of insurance and repair costs.

Depreciation quicker than their 0-60 times

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

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.

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.

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

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.

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.

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

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

Was good to see you on The Apprentice.

Love my EV. Longer journeys take a little more planning but the daily experience is brilliant.

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.

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.

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.

I can't afford a new EV - possibly a used one. Problem is - no transparency on battery health or charging history - as when buying a used phone. Also, I live in a flat - charging is going to be at commercial rates from a street charging point. Lastly, range degradation due to temperature variations (weather) can seriously impact any planned journeys.

In Europe, with the small countries, range is not much of an issue, but in the US of A, anything less than 350 miles of REAL range, in all weather conditions, will not cut it. Also, the charging infrastructure is abysmal, to put it mildly. It is dictatorial to FORCE these evs on people. Whatever happened to "let the market decide"??

Surely the price of EV's is an irrelevance if the charging infrastructure isn't there, which in the UK right now it isn't. Notwithstanding the cost of public charging needs to be drastically reduced otherwise it's just not economically viable to justify having an EV unless you can charge it at home, which millions of car owners simply can't.

Tony Seba was right

What this video doesn’t capture is how many people (like myself) have had an EV and decided it was too much hassle and gone back to a petrol or diesel.

My Tesla is 11 years old now and it has 220 miles of range every day. Best vehicle I’ve ever owned.

Look at GBP vs other currencies. We're not exactly knocking it out the park.

A large proportion of the housing in Britain , alot of which don`t have drives . You can`t charge a car with a flex through your front window across the pavement , a big trip hazard . Having to rely on public charges makes them no cheaper than petrol or diesels

EV sales have hit a wall in sales. Since only companies and people who have homes with a garage can really buy it. Most people live in flats + fast charger costs exceed diesel costs + despite evs having less reasons to break down statistically are unreliable + fast depreciation.

What worries me more about these cars besides price, range, etc is when there is a unfortunate accident most go up in flames and you can’t put them out. Can you imagine the carnage on a motorway for instance! Theres a long way to go before I get in one that’s for sure. 😮

Losing 80,000 in 4 years on a porsche taycan who would buy an electric car in the first place 😮

8:17 This is basically marketing slight of hand. It doesn't mean 100% of each battery is recycled/recovered. When Tesla says that they're recycling 100% of their batteries, it means that they are sending the batteries off to someone who's recycling them, recovering the material, and then who knows where that material is going. I know, you're shocked that Elon would ever deceive the public. It's kind of like when Audi says that they can send 100% of the torque to the each of the rear wheels, but it's really only 100% of the 50% in total engine torque. 😅

Here in USA, EV sales have stalled. There is 2 years worth stock of the Mustang Mach-E. Dealer forecourts literally have 10,000’s of stock. GM and Ford have rowed back on production. Given the massive distances, EV’s were never going stack up. Tesla initially grabbed market share with their charge network and are now selling cars by permanent discounts and MSRP reductions; Model 3 prices have dropped by $15,000.

I don’t know the details of the Australian court ruling, but to add to the strong opinions below, “Zero Emissions” can sometimes be termed “Zero NET Emissions”, whereby carbon credits are used in various ways to offset any actual emissions from the direct product/process/activity at issue.

We have a challenge of power outages in South Africa, so we don't EV's can be an investment 🥺

Word to the 1 million Play button.. Congrats 👏

The struggle is convincing buyers to purchase a brand new EV, the crippling depreciation isn't consumer friendly. I think most folks will either lease, and then people will buy up the used leased ones. But the elephant in the room is, their warranties. Once over 8 years old or over 100,000 miles who will buy an EV with the financial risk of a replacement battery in their future.

I will never go back to ICE unless I’m forced to. I’m on my second EV. BMW i3 then Tesla Model 3 LR. Never had problems with public chargers which I only use on long journeys. It takes a bit more thought and planning. The Tesla M3 has made my driving a far more relaxing experience, the superchargers are incredible and the cost of home charging is amazingly cheap.

If they become more affordable the manufacturers will go bust. Sounds like a Win Win.

Also, LFP batteries don’t use cobalt. Another argument settled. They use iron or basically rust.

Great video: One small thing. I am iSeries Register Chairman for the BMW Car Club. We have 10 different models one PHEV (i8), 8 BEV and one FCEV (ix5 development vehicle). Using the term EV means all these plus HEV but that's what people are talking about. It's about BEV. Plenty of PHEV and HEV cars out there but I think using the term EV is a bit confusing for the uninitiated non enthusiast. Recently I could not exhibit my i8 (PHEV) at an EV Festival as an example.

Oh I know. I bought one this winter. I lost a TON of money on my (used!) EV. However... I'll just keep driving it, because I love it. I'll just drive and drive until it gives up. Long way to go. For newcomers, DO IT! Find the right one. They are AWESOME ! ! ! If you can charge at home that is.

Really need to know information regarding battery refurbishment or replacement. You just don't know how well the previous owner looked after the battery unless you've owned it for a few months. By then it's too late!

Has anyone turned up at a charger site having spent hours more time than you planned (motorway accidents etc) only to find the chargers are faulty, huge cue etc and eventually needing to call a emergency breakdown service because your car died

That nosedive only really affects lease companies because of their accounting. Look, your second hand value will fall because of the fall in the new price. However your second hand price depending on milage, age and overall condition still remains a certain percentage X of the new price. So you can still get a new one for that lower new price times (100-X)%. So that is a lot less than when the new price was still unchanged.

Problem is we've been spoilt with features and gadgets, that add to the cost. Heating, cooling massaging seats, massive touch screens everywhere, mood lighting, powered tailgate, adaptive suspension, laser headlights, adaptive cruise/lane assist, head up display, Apple/Android auto, the list is endless. If it isn't stacked with tech, no one is interested, especially the younger generation.

Charging infrastructure is crap; where there is charging infrastructure most people will pay almost as much for communal charging as they would for petrol or diesel but you can buy for £3000 (or less) a car that will drive 300 miles on a tank and take 3 minutes to refill and pay; cars are expensive and manufacturers are trying to shaft early adopters with inflated prices which creates an image of overpricing so people scoff at the idea of buying one and this will be a hard attitude to break down even when prices do come down; horror stories involving battery failures with manufacturers refusing warranty repairs for water ingress when the country is a rainy one makes people further tentative to adopt one; EVs munch through tyres due to their weight so the running cost difference isn't as wide as manufacturers purport; people are more than aware that taxation is going to rinse them soon so they're scared of holding the bag which is compounded by how insane insurance costs are for many EVs; repair costs and times are extremely high due to a lack of expertise - main dealers with £250+ hourly rates have people over a barrel because few indie garages have the time, space, or access to skilled workers, to repair EVs; the lack of skilled workers is further worsened because very few colleges or education institutions offer courses in EV repair - it's mostly still mechanical work for ICE cars; car companies insist on using existing platforms for their EVs instead of making bespoke platforms so battery space is at a premium and hurts range; why is a base spec i5 nearly £70k when a base spec diesel 5-series is £45k? Fuck off, BMW.

So the amount of material needed to be mined by ICE machinery is between 4-8 times than that of ICE equivalent. This will never change! So any market manipulation will end badly?

more evs - longer queues at the charging stations - BRING IT ON!!!

Bit late to the party with this observation im afraid. Prices, especially used car price bombed about 12 months ago.

The discount of 10% is nowhere near enough to make BEVs affordable. Maybe 60% would make more sense.

I still understand how people that live in apartments or flats with no drive or a drive that’s not near anything to place a charger. If they are forced to charge up at petrol stations and motorway services. These are normally the highest prices to pay for charging electric cars and the government is ok with people with lower incomes to pay the most to charge their electric car? Where’s the logic in that. I watched 1 video where a guy had a Porsche taycan turbo. He’s £20k in negative equality and he wanted to swap it for a 911. Porsche said they wouldn’t take the taycan as a trade in as they have to many second hand taycans currently. So even Porsche don’t want their electric cars back 🤦🏼‍♂️

What people don't mention is how simple the engines are, which cuts costs and gives long term reliability. Electric motor less than 100 parts. My Alfa V6 about 1600!

here in North America the F-150 Lightning and Mach E are dropping MSRP

RORY, they have already come down. brand new i5 BMW was 82k, they are now 67k if you shop round. KIA EV and Ionqi 5 were 56k, but dealers are selling them for 10k less now. I'm currently ordering an ionqi 5 which last year was £800 lease monthly, I've just done a 3 year lease at £380 for a 77kw.

I love your videos, you explain things clearly and honest thank you!

Stelvio is a great car, 2.2D is a superb engine. They’re good spec from factory if you avoid the base spec cars. Retrofit Apple CarPlay, buy one with big belt service done. We are on our second after having had a few Macans, Stelvio is far better value. Macan is a slightly better car but Stelvio way cheaper.

Congrats on the well deserved Gold Pay button!!!

The more you produce cost are less. Are they over producing to keep costs down? Not particularly green.

Like many people in the uk . I have held off purchasing an EV . Because the battery prices and the life span of those batteries. I do like the specs of most . But i think 5 years i will reconsider.

Good point about the Depreciation. Buying New might not be a good idea for EVs but, taking advantage of that Large Depreciation on the Used market is a Good thing that can work in your favor.

About?!! Already have. Second hand anyway!

Need to improve range to at least 400 -500 miles per charge to gain buyers confidence. Along with charging infrastructure and lower prices.

I have a Tesla and I`m completely satisfied with it.. no complaints at all and loving every minutes... Like I read elsewhere; I don`t have any plans to sell my car..so no concerns at all regarding depreciation.. In future I can only think of buying EVs once I can sell my other ICE car...

Good starting point for battery repair workshop business... Simple,sell your old battery to someone for solar storage and buy refurbished battery even with smaller capacity. Most people use car for daily short distance driving.

Tycan battery cost £55000 under warranty, gearbox £35000. Porsche cannot get rid of them. Enjoy your Tycan

There is a massive difference between cutting price due to innovation in production vs cutting price when nobody want to buy. Unfortunately it's the latter for EV.

Spoiler alert. LFP stands for Lithium-Iron-Phosphate. Yes its energy per kg is not as good as Lithium-NMC but it has one huge advantage (besides allegedly being cheaper to make). LFP is intrinsically safer than other variants, so less likely to burst into flames after disturbances.

Given that the largest battery manufacturer in the world said their battery prices would be coming down by 50% this year, that's already a huge reduction in the total vehicle cost.

ChArging at home is the problem when living on council estates 😂

People forget that, when the automotive industry was in its infancy, there was a fierce battle between cars with internal combustion engines, electric powered cars and steam powered cars. The ICE cars triumphed not because of government regulations, but because at that time they were the better option for most buyers. It was a fair market competition won by the buyer's choice. Nowadays, the government makes our choices, even if some choices, like this one for example, don't make any sense at all.

The budget brands like Tesla and BYD need to retail at 9,999 or less.

Doesn't matter - on the development I live on we have had maybe 10 chargers fitted.... and now the 16 year old wiring is failing - at an increasing rate as more chargers are being added to the load.

Well, tbh i see battery EVs already getting handed their hats and coats. In our company we had 5 brand new electric Renault Kagoos. The Boss sold them the very first winter because of how unusable they were in the cold where we would drive for 15-20 minutes and park for 30 minutes. Barely managed to get back to our warehouse for recharging and hardly could complete any of our schedules for the day, despite all of the addresses being well inside HALF of the quoted range. When we had to park somewhere in the center of the city, all of the charging stations already had a car plugged into it and in the rare occasions when there was one actually free, it was either not working or the rate was absurd at €1.45/kW, so to charge the 30kWh battery it costs €43.5 to do less than 100km of driving!!! Oh yeah and leaving them parked for 10 days during the holidays only to come back to work and find out all of their batteries were flat as a pancake was basically the last straw. So instead of those got brand new Dacia Dokkers factory fitted with LPG and the running costs are 1/3rd of what they used to be on the "cheap to run" EVs. And it's a trend i've been noticing in my neighborhood as well - people are getting rid of the battery EVs and getting either a small turbo diesel or a hybrid vehicle. Battery EVs might work if you have cheap nuclear power. But when your normal rate is €0.38/kWh, it's much cheaper to run LPG. I just hope that manufacturer very soon would realize keeping the electricity in batteries and dragging them along is dumb and will refocus their attention entirely on HFC and governments would actually start updating the infrastructure for that, cause you still can use the existing petrol station to charge hydrogen.

The deprecation alone is insane. Can lose 100K on a Taycan the day after you take delivery

As our 2nd car we bought a 2023 Jaguar I Pace HSE with 8000 miles from a Jaguar Dealership, new it was £70.000 I paid 40.000 its good colour, a 2024 model, Fully loaded Pan Roof am more than happy with the price.

My problem with all of this is as an E-tron owner in America, the range is shit and we don’t have the infrastructure to meet demand. I took my car to charge today and the fkn station was down. Now I have to charge it from home which sucks. Great around DC, but you can’t road trip in a large country like the USA or Australia where I’m from.

The problem is, it's the warranty and the battery replacement costs that people have suddenly cottoned onto. Taking your example of the Porsche Taycan for £45k. Once those batteries need to be replaced once the warranty runs out is going to cost the new owner £55k to replace and code it to the vehicle. For the original cost of £45k? That's simply not going to happen. They would have to give the Porsche Taycan away for FREE in the knowledge that the future cost of the cars batteries will cost them £55k. Or simply replace the batteries at the dealership and sell the car for £55k and a new 100k mile warranty again. EV's are nonsense. The only thing that I see moving forward is hybrids. Electric around the city and ICE for the long journeys.

If affordable means, smallest, tiniest battery, slowest charging then no thank you! I'm sticking with my diesel!

Respect for what you have made this channel. Quality stuff ❤

Congratulations Rory. You definitely deserve the gold play award. Ive been turning to your youtube for reviews on ex's for ages. I really like your mix of humour and facts. Keep it up; you are a star!

Model 3 loses 50% in depreciation in 2 years. Beats the Maserati quattroporte as the fastest depreciating car by a year!

It will be due to high supply and low demand.

Congrats for the million sub Autotrader ! Excellent job Rory !

In my opinion it is absolutely not sustainable. The life span of cars are getting shorter and shorter, so manufacturers can sell more new cars. And with a huge influx of foreign brands coming to compete, the traditional European best selling car brands needs to fight for every penny of profit. In Denmark at my dealer, this month EVs have been 90% of all order intake. Furthermore almost all of these "sales" are short-term leasing, only 12 months. Reason being, if you want to pick 24 or 36 months, the monthly fee actually increases significantly, since it is uncertain what market value the cars will have by then. The used EV car market will have absolute bargains in the coming years. Actually it already does.

Who's gonna spend £45k on a taycan to only be able to do 50k miles before the battery warranty is up and hope they don't have to pay another £45k to replace it?

If I wouldn't buy a new one I'm certainly not going to buy a second hand one. For my needs they are simply not good enough. Also my electricity bill is costly enough now let alone plugging in one of these energy guzzlers. Oh and you forgot to mention the insurance cost £££! Or the reliability?

What does battery warranty cover? How much does the range have to drop before it gets replaced under warranty? The range doesn't match claimed range when new in the first place. I would consider leasing a new electric car if I needed a city commuter but I wouldn't go anywhere near a second hand one under any circumstances.

The other question to ask is why EVs are so expensive in the UK? The Ora Cat (for instance) is listed as £31,995? In Australia, it is now $A35,990 'drive away' (rego, third party insurance, stamp duty... included). That is under £19,000...Even with a bit of duty and twice the GST (VAT), someone is having a lend.

Congratulations Rory!

people forget that with EVs its not just about the car and thats it? the infrastructure also needs to be built to support them long term/realistically...

If you bought a 2nd hand EV you’d have resale anxiety. Add that to range anxiety an charge anxiety. They don’t add up.

I managed to snag a used 2019 Model 3 exactly a year ago for £25k, it's been a bargain as they threw in a years free supercharging, plus I got brand new interior floor mats, and their Enhanced Autopilot software. It was a little higher milage but it's still under warranty til 2027. Now you can get a similar car with less mileage for £21k! You really don't have to buy new any more if you're worried about depreciation or new cheaper models around the corner.

Who wants to be stranded with their family in an EV when they can't charge it? I want a zero emissions mandate on all govt officials, employees and agencies. Problem solved.

Doesn't matter if the car price goes down if the battery price does not. As these evs go down in price the battery takes up even more of the total cost. It gets to the point where the cost of the battery replacement costs more than the car.

I love the balanced view of this channel. Something to mention is that the parts, servicing costs and service training also need to improve so that independent repair shops don't go out of business overnight. I will be keeping my Mazda 6 going for years. When it does fail, anyone with a Haynes manual, tools and a brain can repair it

At my very nice, relatively-new, 200-unit U.S. apartment complex, they just installed 4 Level-2 chargers for general use. Four. With no plans to add more. This would not inspire any sensible person to buy an EV, whether they become more affordable or not.

Don’t forget that EVs have dramatically higher insurance costs though. Despite the ‘free’ electricity and lack of additional tax, the insurance can make it more expensive per year to run an EV vs an ICE car.