depreciation
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- Posts: 192
- Joined: Mon Jul 18, 2022 5:55 pm
I REALLY liked the look of the Canoo. It's had it's design issues and no idea if they are building them yet.
But, way before getting the Cupra, I contacted them and they have no interest in a market outside the USA (or even letting me order one and get it here off my own back).
Shame... nice looking pickup
But, way before getting the Cupra, I contacted them and they have no interest in a market outside the USA (or even letting me order one and get it here off my own back).
Shame... nice looking pickup
I see that the price of new Cupra Born during launch was starting at ~£35k and now you can buy the cheapest used Born for ~20k, so it depreciated quite badly (~43%). However when comparing to other EVs it's still not the worse. I did a bit of analysis on that on US market. I was looking at cars between 2021-2024 and I made comparison of depreciation of EVs and ICE vehicles. I didn't look at Cupra Born though, but for sure it is not the EV that is dropping it's value the fastest (https://evhicle.org/2024/03/12/car-depr ... evs-value/).
I also see that EVs depreciation is higher than ICE cars for several reasons and unfortunately I don't see this changing any time soon:
1. Governments manipulating prices of new vehicles (extra benefits for buying EVs)
2. China makes lowering prices, what makes all manufacturers to lower the prices, as more China makes are entering EU and US. As a result we get rapid prices drop for new vehicles and of course nobody wants to pay more for used car than for new one.
3. Fast new tech development, remember how it was with computers back in the 90s? So in general you won't pay just a little less for car that is enabling you 40-50% of range that a new one is allowing you to reach. Same with infotainment and self driving capabilities - the more such upgrades are introduced in new vehicles the less value stays in older ones.
I also see that EVs depreciation is higher than ICE cars for several reasons and unfortunately I don't see this changing any time soon:
1. Governments manipulating prices of new vehicles (extra benefits for buying EVs)
2. China makes lowering prices, what makes all manufacturers to lower the prices, as more China makes are entering EU and US. As a result we get rapid prices drop for new vehicles and of course nobody wants to pay more for used car than for new one.
3. Fast new tech development, remember how it was with computers back in the 90s? So in general you won't pay just a little less for car that is enabling you 40-50% of range that a new one is allowing you to reach. Same with infotainment and self driving capabilities - the more such upgrades are introduced in new vehicles the less value stays in older ones.
Fan of electric vehicles. Runs https://evhicle.org website/blog, where I write about anything related to EVs that gets my attention. Follow me on twitter/X & facebook for interesting news from me