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Electric cars depreciate fast

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The dealer assocation said values for EVs and plug-in hybrids are dropping twice as fast as those of standard hybrids and gasoline-powered vehicles.

 

If you’re looking to sell or trade in a used plug-in hybrid or electric car, prepare to take a major hit on depreciation.

 

According to a report from the National Association of Automobile Dealers, plug-in vehicles perform considerably worse at resale than regular hybrids or gasoline-powered cars do.

 

In 2012, NADA estimated that all plug-in vehicles lost nearly a third of their value in one year (the average depreciation was 31.5 percent). By comparison, similar regular hybrids like the Toyota Prius and gas-powered cars such as the Honda Civic saw significantly lower depreciation rates of 14.0 percent and 12.4, respectively – or less than half that of pricier plug-in hybrids and electric cars.

 

NADA predicted that the depreciation rate of plug-in EVs will improve only slightly over the next two years -- down to 29.7 percent in 2013 and 27.4 percent in 2014. But the organization said in the report that it expects “used plug-in EV depreciation to continue to outpace the overall market’s rate of loss by a significant margin in the coming years."

 

Significant hurdles, especially for all-electric cars, have contributed bigger losses. Limited range, few nationwide public charging stations and imperfect battery technologies that cut the vehicle's total range over time all stand in the way.

 

For vehicle-specific examples, NADA looked at the Nissan Leaf and Chevrolet Volt, the two most popular plug-in cars for sale. The May 2012 edition of NADA’s Official Used Car Guide noted that the 2011 Volt and Leaf carried average trade-in values -- assuming an average mileage after one year -- of $31,060 and $24,857, respectively. But by May 2013, estimated values for each model had dropped by approximately $10,000 to $21,235 and $14,792, respectively.

 

NADA noted that average trade-in values for a similar Toyota Prius hybrid fell by only $4,735 to $16,490, while a Ford Fusion with a four-cylinder gasoline engine declined by just $3,150 to $16,490.

 

 

In 2012, NADA estimated that all plug-in vehicles lost nearly a third of their value in one year (the average depreciation was 31.5 percent). By comparison, similar regular hybrids like the Toyota Prius and gas-powered cars such as the Honda Civic saw significantly lower depreciation rates of 14.0 percent and 12.4, respectively – or less than half that of pricier plug-in hybrids and electric cars.

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This is just because ppl aren't familiar with electric vehicles. The mkt is limited because it hasn't caught on. Stands to reason. When they become more prevalent and more popular, resale values will out pace combustion, because electrics have less to wear out and less to go wrong.

When you can drive 60 miles on $3 worth of electricity,. having to buy new batteries every 6-7 yrs isn't going to seem like a big sacrifice.

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This is just because ppl aren't familiar with electric vehicles. The mkt is limited because it hasn't caught on. Stands to reason. When they become more prevalent and more popular, resale values will out pace combustion, because electrics have less to wear out and less to go wrong.

When you can drive 60 miles on $3 worth of electricity,. having to buy new batteries every 6-7 yrs isn't going to seem like a big sacrifice.

Until a battery is developed that's universal, light weight, holds a high charge ( especially when the temperature is below freezing ), and charges quickly, electric vehicles will remain more or less a novelty. That and a real time system; that being, a solar system that instantly supplies power on demand and not through a battery. As far as a complicated vehicle goes, hybrids are extremely complicated; and that alone defeats the mark of great - elegant engineering. Should all be diesel. Incredibly simple - long life. It would be effortless to design a small diesel vehicle that does 100+++ mpg. My old ( ancient ) VW Golf Diesel averaged 52 mpg; and that was a long long time ago.

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Until a battery is developed that's universal, light weight, holds a high charge ( especially when the temperature is below freezing ), and charges quickly, electric vehicles will remain more or less a novelty. That and a real time system; that being, a solar system that instantly supplies power on demand and not through a battery. As far as a complicated vehicle goes, hybrids are extremely complicated; and that alone defeats the mark of great - elegant engineering. Should all be diesel. Incredibly simple - long life. It would be effortless to design a small diesel vehicle that does 100+++ mpg. My old ( ancient ) VW Golf Diesel averaged 52 mpg; and that was a long long time ago.

 

Cold climates, hilly terrain, clunky VERY expensive batteries all add up to FAILURE. That why there's a government grant basically for every sap that gets one. Even the recyclability numbers suck.

If you look at the entire economic trail for materials, build, service life, end of life costs (can't just throw the battery away), the electric car has a long way to go.

 

I will grant that there's a learning curve for new stuff but this is not new stuff.

It's dated by many years and STILL rejected for some basic practical reasons besides cost and recyclability disappointments.

 

I've worked on programs and the hurdles need some breakthroughs that haven't materialized just yet. There's still hope though.

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Until a battery is developed that's universal, light weight, holds a high charge ( especially when the temperature is below freezing ), and charges quickly, electric vehicles will remain more or less a novelty. That and a real time system; that being, a solar system that instantly supplies power on demand and not through a battery. As far as a complicated vehicle goes, hybrids are extremely complicated; and that alone defeats the mark of great - elegant engineering. Should all be diesel. Incredibly simple - long life. It would be effortless to design a small diesel vehicle that does 100+++ mpg. My old ( ancient ) VW Golf Diesel averaged 52 mpg; and that was a long long time ago.

 

 

Hybrids aren't that much more complicated than your average sedan. It's a small 4 banger with a battery and charge box. The prius has proven to be one of the most reliable cars on the road. electrics are simple, and the tesla and leaf are not novelties, they're new entries. There's a line for the Tesla, and when the Prius first came out and for yrs afterward, there was a long waiting list for them. You paid MSR. i'm familiar with the golf diesel, 52mpg is NOT typical. and diesel has it's drawbacks. warm up, torgue, diesel is more expensive...and of course emissions.

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Electric cars are death traps.

 

The Nissan Leaf received the "Top Safety Pick" rating from the IIHS (Insurance Institute for Highway Safety).

 

http://www.greencarreports.com/news/1083995_2013-nissan-leaf-electric-car-gets-iihs-top-safety-pick-rating

 

2013 Nissan Leaf Electric Car Gets IIHS 'Top Safety Pick' Rating

May 9, 2013

 

Nobody really wants to crash, but if you're unfortunate enough to do so it's nice to know your chances of escaping injury are better than most.

 

That's the case with the 2013 Nissan Leaf, which has picked up a "Top Safety Pick" rating from the Insurance Institute for Highway Safety (IIHS).

 

While the Nissan Leaf was also designated an IIHS Top Safety Pick in its first year, 2011, and again in 2012, the institute decided to re-test the car for 2013.

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This is just because ppl aren't familiar with electric vehicles. The mkt is limited because it hasn't caught on. Stands to reason. When they become more prevalent and more popular, resale values will out pace combustion, because electrics have less to wear out and less to go wrong.

When you can drive 60 miles on $3 worth of electricity,. having to buy new batteries every 6-7 yrs isn't going to seem like a big sacrifice.

They were a flop way back and nothing has changed with them. Their main shortcomings remains the same. They do not go very far on a charge. The batteries are dangerous. They were expensive. In 1914 a Detroit Electric set a record for going 214 miles on a charge with a top speed of 25 mph. Today's cars go about 100 miles on a charge and go faster with the Tesla can go 256 miles. The main problem back then and now is where do you plug them in and how does that work when taking a trip. they cost a lot more money as well. Electric car back then about $2,600 with a Ford at $695. They were sold back then to people that did not travel far in them just run around town. Why would I want to pay $70,000 for a Tesla and not be able to go on a trip across the state etc. If I get a Chevy ImpaIa I can go about 369,000 miles buying the gas on what I would save on the purchase price. If I was getting a loan that would probably mean free gas for life. Bad economics.

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This is just because ppl aren't familiar with electric vehicles. The mkt is limited because it hasn't caught on. Stands to reason. When they become more prevalent and more popular, resale values will out pace combustion, because electrics have less to wear out and less to go wrong.

When you can drive 60 miles on $3 worth of electricity,. having to buy new batteries every 6-7 yrs isn't going to seem like a big sacrifice.

 

 

:D Right...What's going to make them more popular? Where's all the energy going to come from to charge these electric vehicles? Coal? Not a single electric vehicle has ever come in on mileage as they claim. The overall lifetime savings for an electric car to be produced and used by the consumer versus a normal combustion engine car is about $475.00

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This is just because ppl aren't familiar with electric vehicles. The mkt is limited because it hasn't caught on. Stands to reason. When they become more prevalent and more popular, resale values will out pace combustion, because electrics have less to wear out and less to go wrong.

When you can drive 60 miles on $3 worth of electricity,. having to buy new batteries every 6-7 yrs isn't going to seem like a big sacrifice.

 

Thats the damned problem. You can only drive 60 frikken miles, don't have room for anything and no cool engine sounds.

 

FLOP

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What I said, my ancient VW Golf Diesel got 50+ mpg. Burned anything that could be squeezed through he injectors ( as long as the lubrication properties were there ). Diesel, kerosene , home heating oil, cooking oil, chicken fat. A 100 - 150 mpg diesel could be effortlessly designed.

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Cold climates, hilly terrain, clunky VERY expensive batteries all add up to FAILURE. That why there's a government grant basically for every sap that gets one. Even the recyclability numbers suck.

If you look at the entire economic trail for materials, build, service life, end of life costs (can't just throw the battery away), the electric car has a long way to go.

 

I will grant that there's a learning curve for new stuff but this is not new stuff.

It's dated by many years and STILL rejected for some basic practical reasons besides cost and recyclability disappointments.

 

I've worked on programs and the hurdles need some breakthroughs that haven't materialized just yet. There's still hope though.

 

...good post! ,,,but, you're confusing the libturds! :lol:

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Hybrids aren't that much more complicated than your average sedan. It's a small 4 banger with a battery and charge box. The prius has proven to be one of the most reliable cars on the road. electrics are simple, and the tesla and leaf are not novelties, they're new entries. There's a line for the Tesla, and when the Prius first came out and for yrs afterward, there was a long waiting list for them. You paid MSR. i'm familiar with the golf diesel, 52mpg is NOT typical. and diesel has it's drawbacks. warm up, torgue, diesel is more expensive...and of course emissions.

 

My Prius is currently getting 54 MPG. Worth every penny I paid for it....and I'm not pumping carbons into our atmosphere at the rate most cars and trucks do.

I talk the talk and walk the walk.

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The Nissan Leaf received the "Top Safety Pick" rating from the IIHS (Insurance Institute for Highway Safety).

 

http://www.greencarreports.com/news/1083995_2013-nissan-leaf-electric-car-gets-iihs-top-safety-pick-rating

 

I'll stick to my pickup trucks and H-1...those little electric cars are death traps.

 

 

My Prius is currently getting 54 MPG. Worth every penny I paid for it....and I'm not pumping carbons into our atmosphere at the rate most cars and trucks do.

I talk the talk and walk the walk.

Plenty of carbons were pumped into the air in the making of your..haha..Prius.

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Still not a road trip and what exactly do you do when you need a fill up on I65?

 

I'm not a big proponent of electric cars, but I do have an open mind for new technology, and will give it it's just chance....

This alternate energy gradual change is still in it's infancy and there are already 5600 EV charging stations in the US......

Maybe not really enough to do a road trip of any length by fossil fuel fired engine's standards, but it's growing rapidly....

 

look on the map for I-65 "fill-ups" aka known as charging stations......

 

http://www.plugshare.com/

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I'm not a big proponent of electric cars, but I do have an open mind for new technology, and will give it it's just chance....

This alternate energy gradual change is still in it's infancy and there are already 5600 EV charging stations in the US......

Maybe not really enough to do a road trip of any length by fossil fuel fired engine's standards, but it's growing rapidly....

 

look on the map for I-65 "fill-ups" aka known as charging stations......

 

http://www.plugshare.com/

 

...and how long are you gonna sit there and wait for the batteries to charge?

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