EV Nation

[ratty]

Prices of Used EVs Drop Below Used Gas Cars for the First Time

Used EV values continue to fall much faster than the average used gas car values

“There’s no denying the crash in used electric vehicle values over the past year,” said Karl Brauer, executive analyst at iSeeCars. “We’ve watched EVs prices fall between 30 and 40 percent since June of last year, while the average gas car’s price has dropped by just 3 to 7 percent in that same timeframe.”

[ratty]

Umicore suspends construction of $2.76B battery materials plant in Ontario

Umicore says it has halted spending on a $2.76-billion battery materials plant in eastern Ontario.

The global materials company says it made the decision because of scaled-back expectations for growth in the electric vehicle market.

Last October, the federal government committed to put $551.3 million toward the project and the Ontario government said it would spend up to $424.6 million in capital costs.

The plant was set to build cathode active materials and precursor cathode active materials.

Umicore says it is conducting a strategic review of its battery materials and will provide an update in the first quarter of next year.

The plant had previously expected to begin production in 2026 and create around 600 jobs.

[ratty]

From repairs to resale, survey reveals why most EV owners in India want to switch back to ICE vehicles

According to Park+ survey, 51% of electric vehicle owners in India considered switching back to ICE vehicles due to charging anxiety, high maintenance costs, and low resale values. TATA Nexon EV was the most popular choice. The study underlined the importance of developing a more robust EV charging infrastructure.

[ratty]

German dealers say private orders for electric cars have fallen by nearly half in 2024

Demand for purely battery-electric vehicles (BEV) dropped dramatically in Germany during the first half of 2024 and the country’s automotive sector is bracing for a gloomy full year as high prices and leasing rates hamper business.

According to automotive industry association Zentralverband Deutsches Kraftfahrzeuggewerbe (ZDK), which carried out a recent survey of 348 car dealerships, BEV orders from private customers fell by 47 percent in the first six months compared to the same period last year, while demand for diesel and gasoline engines increased by 24 percent.

Etc ...

[ratty]

Price of Australia’s first electric ute slashed by nearly half in key right hand drive market

China’s LDV has slashed the price of its electric ute in the key right hand drive market of New Zealand, less than two years after the eT60 was introduced into that and the Australiam market.

The brand has slashed prices in New Zealand with a new starting price of $NZ41,990, down from $NZ79,990 at launch.

The latest price cut could be attributed to several factors including the major drop in NZ EV sales after the Clean Car Discount ended on 31st December 2023.

[blustnmtn]

Virtue Signaling can be very expensive!

wtop.com/montgomery-county/2024/07/electric-school-buses-led-to-millions-in-wasteful-spending-montgomery-co-ig-says/

[acidohm]

Aug 2, 2024 0:11:10 GMT ratty said:

Price of Australia’s first electric ute slashed by nearly half in key right hand drive market

China’s LDV has slashed the price of its electric ute in the key right hand drive market of New Zealand, less than two years after the eT60 was introduced into that and the Australiam market.

The brand has slashed prices in New Zealand with a new starting price of $NZ41,990, down from $NZ79,990 at launch.

The latest price cut could be attributed to several factors including the major drop in NZ EV sales after the Clean Car Discount ended on 31st December 2023.

This came to UK markets last year, I've never seen one in the wild....

In fact you made me look it up Ratty 😉 site called "how many left" shows sales figures against write offs. Just over 1000 on the road in UK.
Half price with 5000 miles on clock on second hand market.

[ratty]

South Korea to Ban Electric Cars in Parking Garages After Explosion

In the wake of a serious incident involving an electric Mercedes-Benz that exploded in a South Korean parking garage, the country is considering a ban on electric vehicles in such facilities.

[gridley]

Aug 15, 2024 6:46:59 GMT ratty said:

South Korea to Ban Electric Cars in Parking Garages After Explosion

In the wake of a serious incident involving an electric Mercedes-Benz that exploded in a South Korean parking garage, the country is considering a ban on electric vehicles in such facilities.

So...

Don't park your EV in your own garage, because it will burn your house down.

Don't park your EV in a public garage, because it will burn it down.

Isn't it about time a .gov spokesman insisted that EV's are "safe and effective" and all the rumors of side effects are a far-right conspiracy?

[missouriboy]

Ain't no way to hide your lying eyes.

[walnut]

I hope that someone maintains the production machinery for the ICE engines

[ratty]

[ratty]

Beware EVs!

. Car companies have big dreams for software features, connected services and more as they aim to make "smartphones on wheels."
. But the bankruptcy of one such automaker in China is showing what can go wrong when software support evaporates.
. How do car companies ensure their products will work for the long haul?

The Ultimate 'Connected Car' Nightmare Is Playing Out In China

[ratty]

From the Australian Financial Review ....

The carnage in the EV industry is only just getting started

Electric carmakers are awash with red ink; costs are too high, much higher than for petrol cars; shortages of critical materials pushing prices higher all the time, and consumers are increasingly nervous.

Profits at the German auto giant Mercedes plunged last Friday as sales of its slick new range of electric vehicles went into freefall.

Porsche abandoned its sales targets for battery-powered cars amid waning demand from customers. Ford is losing nearly $US50,000 ($A76,000) on every EV it sells, while Tesla’s profits dropped 45 per cent. Meanwhile, battery manufacturers such as Germany’s Varta are getting wiped out.

It has become clear that the EV industry is on the brink of collapse.

Hundreds of billions of euros, dollars and pounds have been pumped into this industry by political leaders and the subsidy junkies that surround them – and it is surely time they were held to account for the vast quantities of taxpayer cash that has been wasted.

Etc ...

[missouriboy]

Jul 29, 2024 5:01:08 GMT ratty said:

Prices of Used EVs Drop Below Used Gas Cars for the First Time

Used EV values continue to fall much faster than the average used gas car values

“There’s no denying the crash in used electric vehicle values over the past year,” said Karl Brauer, executive analyst at iSeeCars. “We’ve watched EVs prices fall between 30 and 40 percent since June of last year, while the average gas car’s price has dropped by just 3 to 7 percent in that same timeframe.”

The best (and lowest priced) gas powered car on the market may still be the Nissan Versa ... particularly for the young male, who is absolutely raped by the car insurance companies.  Yes ... statistics don't lie ... but insurance companies have NO mercy.  MSRP $17820

www.nissanusa.com/shopping-tools/build-price/cars/versa/2024/5-speed-manual-transmission/29889:BACG7:AsoFUGQ/accessories