{"id":380945,"date":"2025-05-30T18:40:14","date_gmt":"2025-05-30T16:40:14","guid":{"rendered":"https:\/\/climatescience.press\/?p=380945"},"modified":"2025-05-30T18:40:15","modified_gmt":"2025-05-30T16:40:15","slug":"electric-cars-halve-in-value-after-just-two-years","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=380945","title":{"rendered":"Electric cars halve in value after just two\u00a0years"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

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

From NOT A LOT OF PEOPLE KNOW THAT<\/a><\/p>\n\n\n\n

By Paul Homewood<\/p>\n\n\n

\n
\"\"<\/figure>\n<\/div>\n\n\n

Second hand EV prices are going through the floor, as nobody wants to buy them.<\/strong><\/p>\n\n\n\n

The Telegraph has the story:<\/strong><\/p>\n\n\n\n

Electric vehicles (EVs) are <\/em>losing more than half their value<\/em><\/a> in the first two years of ownership amid a wave of heavy discounting by carmakers.<\/em><\/p>\n\n\n\n

A typical EV now retains only 49pc of its value after 24 months, a sharp decline from 83pc as recently as 2022, according to Cox Automotive.<\/em><\/p>\n\n\n\n

For a new car bought for \u00a340,000, this would translate to a value of just \u00a319,600 after two years.<\/em><\/p>\n\n\n\n

The depreciation figure compares with an average of 30pc for diesel and petrol cars.<\/em><\/p>\n\n\n\n

Full story here.<\/a><\/p>\n\n\n\n

Certainly, heavily discounted new car prices must push down second hand prices, but that is a long way from being the whole story.<\/p>\n\n\n\n

I have made some checks on the Vauxhall Mokka prices via Carwow. They come up with the following current prices for the basic electric and petrol versions:<\/p>\n\n\n\n

Electric Mokka:<\/strong><\/p>\n\n\n\n

RRP \u2013 \u00a332255<\/strong><\/p>\n\n\n\n

Discounted New \u2013 \u00a325747<\/strong><\/p>\n\n\n\n

Second Hand, 3 Years Old with 30,000 miles \u2013 \u00a310995<\/strong><\/p>\n\n\n\n

Depreciation from Discounted Price \u2013 57%<\/strong><\/p>\n\n\n\n

Petrol Mokka:<\/strong><\/p>\n\n\n\n

RRP \u2013 \u00a325740<\/strong><\/p>\n\n\n\n

Discounted New \u2013 \u00a322572<\/strong><\/p>\n\n\n\n

Second Hand, 3 Years Old with 29,000 miles \u2013 \u00a315640<\/strong><\/p>\n\n\n\n

Depreciation from Discounted Price \u2013 31%<\/strong><\/p>\n\n\n\n

The prices broadly back up the Telegraph\u2019s, which are set against 2-year-old cars. The second hand prices are also the buyer price, not the trade in value.<\/p>\n\n\n\n

But what is astonishing is that drivers would rather pay \u00a35000 more for a second hand petrol car than the electric equivalent. That has nothing to do with \u201cdiscounted new prices\u201d, as the new electric remains more expensive in that regard.<\/p>\n\n\n\n

There is obviously a glut of second hand EVs beginning to come on to the market, which will depress values even further. But there is evidently little appetite amongst potential private buyers.<\/p>\n\n\n\n

Obviously, there is the longer-term issue of battery life, but surely this won\u2019t be in the minds of people buying a 3-year-old car.<\/p>\n\n\n\n

On the contrary, it is pretty obvious that very few drivers actually want an EV. One particular issue for the second hand market is that many lower income drivers have no off street parking, meaning they cannot charge at home.<\/p>\n\n\n\n

All of this is a huge, flashing warning sign for anybody considering buying a new EV \u2013 don\u2019t expect to get much money back for it when you trade it in!!<\/p>\n\n\n\n

!!!!!!YOU HAVE BEEN WARNED!!!!!!<\/strong><\/p>\n\n\n\n

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

Second hand EV prices are going through the floor, as nobody wants to buy them.<\/p>\n","protected":false},"author":121246920,"featured_media":380950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","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_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":[691835470,691835471,691821977,691835468],"class_list":{"0":"post-380945","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-2-year-old-cars-2","9":"tag-battery-life","10":"tag-electric-vehicles-evs","11":"tag-second-hand-evs-2","13":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/OIG-15.jpeg?fit=1024%2C1024&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1B6h","jetpack-related-posts":[{"id":280277,"url":"https:\/\/climatescience.press\/?p=280277","url_meta":{"origin":380945,"position":0},"title":"Values Of Used EVs Plummet, As Dealers Stuck With Unsold\u00a0Cars","author":"uwe.roland.gross","date":"24\/09\/2023","format":false,"excerpt":"The average cost of second hand electric cars is plummeting by a \"phenomenal amount\" as they sit for \"months on end\" without any buyers.","rel":"","context":"In \"cheap PCPs\"","block_context":{"text":"cheap PCPs","link":"https:\/\/climatescience.press\/?tag=cheap-pcps"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/0EVsDirect-Posts3.jpg?fit=1200%2C360&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/0EVsDirect-Posts3.jpg?fit=1200%2C360&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/0EVsDirect-Posts3.jpg?fit=1200%2C360&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/0EVsDirect-Posts3.jpg?fit=1200%2C360&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/0EVsDirect-Posts3.jpg?fit=1200%2C360&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":384977,"url":"https:\/\/climatescience.press\/?p=384977","url_meta":{"origin":380945,"position":1},"title":"EVs Lose Two Thirds Of Value In A\u00a0Year","author":"uwe.roland.gross","date":"25\/06\/2025","format":false,"excerpt":"When will they get the message? Nobody wants to buy these utterly useless vehicles?","rel":"","context":"In \"cost-of-living crisis\"","block_context":{"text":"cost-of-living crisis","link":"https:\/\/climatescience.press\/?tag=cost-of-living-crisis"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/06\/OIG.RSiK_.jpeg?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/06\/OIG.RSiK_.jpeg?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/06\/OIG.RSiK_.jpeg?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/06\/OIG.RSiK_.jpeg?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":289625,"url":"https:\/\/climatescience.press\/?p=289625","url_meta":{"origin":380945,"position":2},"title":"ECIU\u2019s Disinformation About\u00a0EVs","author":"uwe.roland.gross","date":"02\/12\/2023","format":false,"excerpt":"From NOT A LOT OF PEOPLE KNOW THAT By Paul Homewood This week\u2019s disinformation from the ECIU propaganda unit! 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