{"id":343599,"date":"2024-09-18T09:10:24","date_gmt":"2024-09-18T07:10:24","guid":{"rendered":"https:\/\/climatescience.press\/?p=343599"},"modified":"2024-09-18T09:10:27","modified_gmt":"2024-09-18T07:10:27","slug":"electric-car-values-in-free-fall-as-second-hand-prices-halve-in-two-years","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=343599","title":{"rendered":"Electric Car Values in Free Fall as Second-Hand Prices Halve in Two Years"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From The Daily Sceptic<\/a><\/p>\n\n\n\n

by\u00a0Will Jones<\/a><\/p>\n\n\n\n

Electric vehicles are losing value at an \u201cunsustainable\u201d rate as a slowdown in consumer demand causes used car prices to halve in two years, leasing companies have warned.\u00a0The\u00a0Telegraph\u00a0has the story<\/a>.<\/em><\/strong><\/p>\n\n\n\n

\n

The British Vehicle Rental & Leasing Association (BVRLA) warned that so-called fleet operators, such as car leasing firms and rental companies, are having to swallow large losses<\/a> when reselling EVs because of \u201caccelerated, exceptional depreciation\u201d. <\/p>\n\n\n\n

In most cases, these companies buy new cars and own them for three years before selling them. <\/p>\n\n\n\n

Consumers who lease cars during these three-year periods effectively cover the value of losses through monthly payments, which are calculated based on estimates of how much a vehicle is expected to depreciate.<\/p>\n\n\n\n

But in the past two years, the typical amount of  \u201cresidual value\u201d left over at the end of a car\u2019s lease has plunged from 60% to 35%, the BVRLA said. <\/p>\n\n\n\n

This means a car worth \u00a350,000 when new will now drop to \u00a317,500 in value over three years, instead of \u00a330,000. <\/p>\n\n\n\n

This leaves leasing companies facing unexpected losses.<\/p>\n\n\n\n

Gerry Keaney, Chief Executive of the BVRLA, has warned the trend is \u201cnot sustainable\u201d.<\/p>\n\n\n\n

Speaking at an event in Parliament on Tuesday, he said: \u201cThe reality is that EV residual values in the last two years have dropped by 50%. <\/p>\n\n\n\n

\u201cThat is the evidence of the accelerated depreciation write-off that we\u2019ve seen. And again, when we look forward two years, the rate of used EVs coming back to the market is about to double.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Worth\u00a0reading in full<\/a>.<\/em><\/strong><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Electric vehicles are losing value at an \u201cunsustainable\u201d rate as a slowdown in consumer demand causes used car prices to halve in two years, leasing companies have warned.\u00a0<\/p>\n","protected":false},"author":121246920,"featured_media":343600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691819134,691828406,691818228,691818154,691830637],"class_list":["post-343599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-climate-alarmism","tag-electric-vehicles-evs-2","tag-fossil-fuels","tag-net-zero","tag-zero-emissions-vehicle-mandate","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/00Screenshot-2024-09-17-011752.jpeg?fit=1052%2C708&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1rnV","jetpack-related-posts":[{"id":297164,"url":"https:\/\/climatescience.press\/?p=297164","url_meta":{"origin":343599,"position":0},"title":"Electric cars suffer \u2018unsustainable\u2019 depreciation in secondhand market","author":"uwe.roland.gross","date":"01\/19\/2024","format":false,"excerpt":"Electric cars\u00a0lose as much as half of their value after just three years on the road, new figures show, as the rate of depreciation far outstrips petrol equivalents.","rel":"","context":"In \"electric vehicles (EVs)\"","block_context":{"text":"electric vehicles (EVs)","link":"https:\/\/climatescience.press\/?tag=electric-vehicles-evs"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/image-331.png?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/image-331.png?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/image-331.png?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/image-331.png?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":246461,"url":"https:\/\/climatescience.press\/?p=246461","url_meta":{"origin":343599,"position":1},"title":"EV Lobby Hates The Fact That EVs Cost Too Much","author":"uwe.roland.gross","date":"03\/02\/2023","format":false,"excerpt":"The EV lobby might not like it, but the market knows best, and the experts at the leasing companies will have looked at their costings very carefully.","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-54.png?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-54.png?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-54.png?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-54.png?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-54.png?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":419470,"url":"https:\/\/climatescience.press\/?p=419470","url_meta":{"origin":343599,"position":2},"title":"Electric car charger rollout suffers slowdown in blow to\u00a0Labour","author":"uwe.roland.gross","date":"01\/02\/2026","format":false,"excerpt":"Recent reports from late December 2025 and early January 2026 highlight a significant slowdown in the installation of public electric vehicle (EV) chargers in the UK, marking the first year-on-year decline in the rate of new additions. 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