Tesla cars lose their value even faster than a Maserati, study says

[Ws6]

This has nothing to do with Tesla vs. other EVs, it has to do with the uncertainty consumers have for the unknown state of an EV battery in general vs. an ICE vehicle, whether it is valid or not. It is the same uncertainty consumers have for a used complex German ICE vehicle, just on a different scale. Both are known to be very expensive to repair.

Lmao!

Have you EVER seen leakdown percentages listed for used car engines ar any dealership that wasn't a true race shop?

I have only seen transmission clutch wear listed on sales data for older Lamborghini DCTs.

NO liquid cooled battery is losing more than 10% per 100k miles, and a general state of health by scanning voltage of individual cells is a quick, easy thing, esp compared to leakdown tests.

 

[JeffKeryk]

I believe the second wave of EV fall out will be when it becomes clear there is a greatly diminished market for used ones. Which of course will lead to crazy low trade ins and sales prices. Which will end up impacting the demand for new ones due to anticipated steep depreciation.

Many EVs now are playthings, second cars for the well off, but to survive they will need to be mainstream. JMO.

We are there now, or close to it. Our 2018 Model 3 Mid Range does not have all the improvements of the new cars. I don't expect much if and when I sell it.

 

[97prizm]

I believe the second wave of EV fall out will be when it becomes clear there is a greatly diminished market for used ones. Which of course will lead to crazy low trade ins and sales prices. Which will end up impacting the demand for new ones due to anticipated steep depreciation.

Many EVs now are playthings, second cars for the well off, but to survive they will need to be mainstream. JMO.

I look at EV's alot like cell phones. The latest and greatest will cost you an arm and a leg. Nobody will likely want a 10 year old EV. Tesla is especially guilty of making vehicles not upgradeable, or consistent by constantly changing parts mid run or whenever.

 

[KGMtech]

Outside of blaming the batteries or Musk, have they resolved the issue of replacement parts for cars that have accident damage?
I know this was a HUGE problem and caused owners to have to ditch their cars because of year long waits for chassis and body parts.

Unless I was misled?

 

[dubber09]

What are insurance costs like compared to ICE car of similar size? If insurance is much more expensive and out of warranty repairs / insurance claims are expensive then owners would think again whether to keep or to buy again be it Tesla or another EV.

 

[slo town]

This has nothing to do with Tesla vs. other EVs, it has to do with the uncertainty consumers have for the unknown state of an EV battery in general vs. an ICE vehicle, whether it is valid or not. It is the same uncertainty consumers have for a used complex German ICE vehicle, just on a different scale. Both are known to be very expensive to repair.

Agree, that's why used car prices are low for high mileage Audi, BMW, and especially MB.

Scott

 

[demarpaint]

My buddies that I stay in touch with from my car sales days still won't take a Tesla on a trade. Too much risk for too little reward, and they take space up on the lot from an ICE car that will sell faster, and with less hassle.

 

[Ws6]

I look at EV's alot like cell phones. The latest and greatest will cost you an arm and a leg. Nobody will likely want a 10 year old EV. Tesla is especially guilty of making vehicles not upgradeable, or consistent by constantly changing parts mid run or whenever.

Agreed. Im typing this on a Galaxy S8 that continues to serve me well, though.

 

[Ws6]

What are insurance costs like compared to ICE car of similar size? If insurance is much more expensive and out of warranty repairs / insurance claims are expensive then owners would think again whether to keep or to buy again be it Tesla or another EV.

I pay within 20 or 30 a month for my ev6 gt as my acura rdx, but also my rates have gone up several times due to market adjustments. Considering the 200% horsepower and 20% vehicle msrp increase over my RDX, this isnt stressing.

 

[Ws6]

Outside of blaming the batteries or Musk, have they resolved the issue of replacement parts for cars that have accident damage?
I know this was a HUGE problem and caused owners to have to ditch their cars because of year long waits for chassis and body parts.

Unless I was misled?

This is every car group I'm in. Not a brand specific issue.

 

[fdcg27]

Any EV with proper battery management including cooling will enjoy long battery pack life with only minor degradation over time and miles of use. Proper owner behavior matters as well with users encouraged to limit their use of fast charging and charging beyond 80%, which should be no problem for a daily driver normally charged at home.
In terms of depreciation, if you look at an early Model 3 the depreciation may look fairly steep at the car's current value. If you look at later and far less costly cars, it's pretty normal. Also, all cars depreciate a lot faster than what most people seem to think. Check out residuals on a three year lease for a little perspective on this.

 

[97prizm]

This is every car group I'm in. Not a brand specific issue.

Actually Tesla seems to be significantly worse than other automakers. For example the model y has three count them three different frunk latch assemblies installed in the first year of production. Why, progress? The cybertruck bed has no emergency release if you get locked in. EVERY automotive manufacturer has been required since what 2007 to have an emergency release. Why is Tesla exempt?

 

[Ws6]

Actually Tesla seems to be significantly worse than other automakers. For example the model y has three count them three different frunk latch assemblies installed in the first year of production. Why, progress? The cybertruck bed has no emergency release if you get locked in. EVERY automotive manufacturer has been required since what 2007 to have an emergency release. Why is Tesla exempt?

I mean, Im not a Tesla owner for a reason. I spent more and bought a Kia.

 

[y_p_w]

Actually Tesla seems to be significantly worse than other automakers. For example the model y has three count them three different frunk latch assemblies installed in the first year of production. Why, progress? The cybertruck bed has no emergency release if you get locked in. EVERY automotive manufacturer has been required since what 2007 to have an emergency release. Why is Tesla exempt?

What?

https://www.tesla.com/ownersmanual/...4E-B587-4D11A164A734.html#CONCEPT_C1P_BRW_VXB​

Tailgate Emergency Release​

An interior release, located on the inside of the tailgate, allows a person trapped in the cargo bed to open the tailgate when Cybertruck is parked.​

​

​

To use the emergency release, flip the cover upward to access the pull strap, then pull the strap firmly toward you.​

Warning​

​

People should never be inside the cargo bed when the Cybertruck is moving. Never shut the tailgate when a person is inside.​

The emergency release cover is visible in this video:

 

[OVERKILL]

What?

https://www.tesla.com/ownersmanual/...4E-B587-4D11A164A734.html#CONCEPT_C1P_BRW_VXB​

Tailgate Emergency Release​

An interior release, located on the inside of the tailgate, allows a person trapped in the cargo bed to open the tailgate when Cybertruck is parked.​

​

​

To use the emergency release, flip the cover upward to access the pull strap, then pull the strap firmly toward you.​

Warning​

​

People should never be inside the cargo bed when the Cybertruck is moving. Never shut the tailgate when a person is inside.​

The emergency release cover is visible in this video:

There was a video recently of a guy simulating being locked in the bed and, without some sort of flashlight, he was completely unable to find the emergency release. That may be the origin of this comment, which isn't accurate. As you note, it does have a release, but it may not be sufficiently accessible to somebody without a light. How much of a problem that is in reality? I don't know

 

[Sedin26]

I look at EV's alot like cell phones. The latest and greatest will cost you an arm and a leg. Nobody will likely want a 10 year old EV. Tesla is especially guilty of making vehicles not upgradeable, or consistent by constantly changing parts mid run or whenever.

I’d happily buy a 12 year old Leaf if and when a decent deal came up, with the understanding I might not get more than a few years out of it.

A reasonably degraded Leaf (or similar) would suit my needs nicely locally and also for my work trips to Vancouver. These things sell like hotcakes where I am, usually quickly. Used Teslas of all types are also in great demand.

My city has few people whose commute wouldn’t easily be covered by even the lowest of ranges available. Is everyone in this situation? Of course not…but many, many people are, throughout North America.

 

[y_p_w]

There was a video recently of a guy simulating being locked in the bed and, without some sort of flashlight, he was completely unable to find the emergency release. That may be the origin of this comment, which isn't accurate. As you note, it does have a release, but it may not be sufficiently accessible to somebody without a light. How much of a problem that is in reality? I don't know

I don't know about a tailgate release, but the ones I've seen in trunks are supposed to have a glow in the dark plastic material for the release handle. But obviously those need to absorb light, so who knows how visible it would be when it's inside the trunk.

 

[ME_Andy]

The root cause for used EV prices dropping is that EV's are becoming more common, more mainstream, and cheaper to produce. Thus new and used EV prices are both dropping.

 

[Ws6]

The root cause for used EV prices dropping is that EV's are becoming more common, more mainstream, and cheaper to produce. Thus new and used EV prices are both dropping.

Lithium spot prices have plunged.

 

[pbm]

.
With one single word: Musk

(he thinks he knows it better)
.

If I owned a car company I'd rather have Musk running it than Mary Barra or Jim Farley. As I've said before,,,,GM lost money forever on Opel and within a year or two of buying it PSA had it profitable. Farley went all in on electric vehicles and then took one on a trip discovering they weren't 'ready for prime time' yet after costing the company billions....Typically, Toyota proceeded slowly and seems to have been totally right.