Dropping like a stone

[Lovemyev]

Here is a recent video on the subject of used prices on EV's and the MG4 get's a mention at the end of the video, just to say it was only second to Tesla for it's sales figures.

 

[MG4London]

People want the latest models. Not everyone is content to run a car for 10 Years - it’s boring.
You pay your money and take your choice. If you really want to save money - don’t buy new at all. Get an old car - off someone who has kept it for 10 years - it will lose you nothing.
If you can afford it and you’re into your cars why not indulge?


Why is the CPI a lie? This sort of ‘some say’ rubbish has no value whatsoever.

It’s called the CPLie because the so called consumer price index is manipulated.

Just look at what you use to pay for utilities and food a few years ago and look now it’s way more than 10%


They lie to make it look not as bad as it actually is.


I maintain my prediction that the first MG4s bought for £25,995 could be sold for around that same price when about 10 years old

 

[Ian Key]

I maintain my prediction that the first MG4s bought for £25,995 could be sold for around that same price when about 10 years old

You could be right. More and more towns and cities will be introducing low or zero emission zones and by 2030 the sale of new diesel and petrol cars will be banned and by 2035 all new cars will have to have zero emissions at the tail pipe.

 

[MG4London]

You could be right. More and more towns and cities will be introducing low or zero emission zones and by 2030 the sale of new diesel and petrol cars will be banned and by 2035 all new cars will have to have zero emissions at the tail pipe.

That’s all true but I was not meaning the MG4 will hold it’s original value, I was referring to the fact the units of currency will be losing thiers

 

[Retsiba]

You could be right. More and more towns and cities will be introducing low or zero emission zones and by 2030 the sale of new diesel and petrol cars will be banned and by 2035 all new cars will have to have zero emissions at the tail pipe.

It's those zones that's the key. People kick, fight and swear against ever going electric (me previously as well) but when you realise you have restrictions to where you can go with your car, you'll start to either depend solely on public transport or tow the ev line.
Even in smaller Scottish towns I've noticed low or zero zones coming into operation from June 23.

 

[bowfer]

It's those zones that's the key. People kick, fight and swear against ever going electric (me previously as well) but when you realise you have restrictions to where you can go with your car, you'll start to either depend solely on public transport or tow the ev line.
Even in smaller Scottish towns I've noticed low or zero zones coming into operation from June 23.

Which towns please?
Aberdeen’s (third biggest Scottish city) ULEZ doesn’t become operational until June 2024.
Smaller places becoming operational in 2 months is interesting.

 

[BarryH]

I've had a similar experience with my ZS EV Gen 1. 6 months ago I was getting £22k offers on the Cazoo/Motorway type sites and then in December best Trade-in was £19,750 in March it was £13-£14k and Tesla Trade-in was only £10,500 they said based on car auction prices. But these prices do fluctuate and WBAC valued mine at £12k and two weeks later at £13,500. I think that as petrol prices came down and Electricity prices rose the anti-EV mainstream media started again their highly biased features saying that it is cheaper to drive petrol than EV. Well yes, it is if you only buy your petrol at the supermarket price and only charge your EV on the most expensive Rapid chargers. But if you charge at home most of the time, as most EV drivers would, an EV is certainly less expensive. And if I were to only charge my EV at the same supermarket I used to fuel my Diesel at then my EV fueling would be totally free 95% of the time.

However, As ULEZ expand EV's will get a boost and Gas prices have fallen back and Wholesale Electric price is far from the peak it was so I'd say that process will be bumpy for just a few months more - keep the faith.

 

[Retsiba]

Which towns please?
Aberdeen’s (third biggest Scottish city) ULEZ doesn’t become operational until June 2024.
Smaller places becoming operational in 2 months is interesting.

Well Dundee for one where I live. The council is developing their framework
Was in Glasgow last week (which admittedly is a bigger city) but they had marked out some areas around the city centre with signage saying operational from June 2023

 

[siteguru]

Which towns please?
Aberdeen’s (third biggest Scottish city) ULEZ doesn’t become operational until June 2024.
Smaller places becoming operational in 2 months is interesting.

Not exactly small, but .... Glasgow's ULEZ comes into force in June 2023. (Signs are already up to define the zone).

 

[bowfer]

Not exactly small, but .... Glasgow's ULEZ comes into force in June 2023. (Signs are already up to define the zone).

Nor a town
That was what threw me, the suggestion small towns are going ahead with ULEZ before cities.

 

[Retsiba]

Well Dundee for one where I live. The council is developing their framework
Was in Glasgow last week (which admittedly is a bigger city) but they had marked out some areas around the city centre with signage saying operational from June 2023

Plus Dundee actually implemented in May 2022 but just trying to work out the framework for expanding those zones

 

[Retsiba]

Nor a town
That was what threw me, the suggestion small towns are going ahead with ULEZ before cities.

Pardon me for not making that distinction clearer. I sometimes use (wrongly) town and cities interchangeably.

 

[DebbieL]

Just been speaking to the dealer ref my new red Trophy and he will not take my 18 month old Corsa-E Elite in part exchange as they cannot resell it. There values have dropped like a stone falling by £1000 per month. I looked at other ev's and they have all dropped dramatically so I am going to cancel the Trophy as I do not want to lose another £12000 a year so I think a 1 year old Kona or Nero which would still have 6 years of warranty and the first year / 18 month value write down would make it a sensible purchase at the moment. The dealer has said that the MG4 is holding a 66% residule over 3 years, I don't think that that is a reliable forcast given the price meltdown that is at presently occuring.

that's why I went for contract hire, have just had delivery after a long wait and the Trophy is exceptional

 

[smbmetal]

It’s called the CPLie because the so called consumer price index is manipulated.

Just look at what you use to pay for utilities and food a few years ago and look now it’s way more than 10%


They lie to make it look not as bad as it actually is.


I maintain my prediction that the first MG4s bought for £25,995 could be sold for around that same price when about 10 years old

This must a bargain then?

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I doubt people will buy a 10 year old electric car for that much money in 10 years time.

 

[Rolfe]

It's those zones that's the key. People kick, fight and swear against ever going electric (me previously as well) but when you realise you have restrictions to where you can go with your car, you'll start to either depend solely on public transport or tow the ev line.
Even in smaller Scottish towns I've noticed low or zero zones coming into operation from June 23.

I know Glasgow is going there this summer, but I wasn't aware of anywhere else. My friend who lives in Glasgow said she reckoned my 2009 Golf GTi would be OK though, so I'm not sure how many cars it will actually ban.

Boy is my friend going to get a shock when I rock up in the MG4 though! She lives in a mid-terrace house with no garage and says there are no charging points at her local supermarket. She was madly jealous not just of my garage with power points but of the public charging station only about 400 yards from my house. "How come you've got this out in the sticks and we've still got nothing in the city?"

It's possible our facility was a local initiative, I don't know, but "out in the sticks" is where you need them in a lot of ways. I chatted to a driver with DK plates who was charging there the other day. He says he drives her from Denmark regularly and has never had an issue charging. Big car though, probably had a big range.

 

[tsedge]

This must a bargain then?

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I doubt people will buy a 10 year old electric car for that much money in 10 years time

Old leafs are still popular even with the battery degradation issues. People will buy anything that gets the job done and is reliable.

 

[WonkoTheSaneUK]

Old leafs are still popular even with the battery degradation issues. People will buy anything that gets the job done and is reliable.

Sadly, no-one offers a battery swap/upgrade for the 20kWh Leafs anymore.

 

[bowfer]

I know Glasgow is going there this summer, but I wasn't aware of anywhere else. My friend who lives in Glasgow said she reckoned my 2009 Golf GTi would be OK though, so I'm not sure how many cars it will actually ban.

Boy is my friend going to get a shock when I rock up in the MG4 though! She lives in a mid-terrace house with no garage and says there are no charging points at her local supermarket. She was madly jealous not just of my garage with power points but of the public charging station only about 400 yards from my house. "How come you've got this out in the sticks and we've still got nothing in the city?"

It's possible our facility was a local initiative, I don't know, but "out in the sticks" is where you need them in a lot of ways. I chatted to a driver with DK plates who was charging there the other day. He says he drives her from Denmark regularly and has never had an issue charging. Big car though, probably had a big range.

Aberdeen ULEZ zone starts June 2024.
Basically any diesel built after 2016 is fine, as is any petrol built after 2006.
Doesn’t stop locals moaning about ‘having to buy new cars’ and ‘not wanting an EV’
God forbid they actually check the damn rules.

 

[Retsiba]

Aberdeen ULEZ zone starts June 2024.
Basically any diesel built after 2016 is fine, as is any petrol built after 2006.
Doesn’t stop locals moaning about ‘having to buy new cars’ and ‘not wanting an EV’
God forbid they actually check the damn rules.

Yeah. Dundee though technically started May 2022, there is a two year grace period so until 2024, for people to familiarise themselves with the rules.

That's in a way why I wanted to go electric now. A bit of backward thinking but was thinking if I tried electric for 3 or 4 years and don't like it, I could buy an ICE ahead of the sale ban and just flog it till dead and by that time EVs will be more mainstream.

I now realise that they may already be getting to point where they can almost be classed mainstream, not quite, but quite prevalent now. And my pal that has one told me I'm unlikely to go back to ICE once I've used one and would instead if I didn't like mine, look for a better EV to replace it.

 

[smbmetal]

Old leafs are still popular even with the battery degradation issues. People will buy anything that gets the job done and is reliable.

Indeed they are.

But a nearly 10 year old one is £7,500. I would bet my house, car and cat that it was at least double that 10 years ago. Hence why I don't think an MG4 will cost the same when it's 10 years old as it does now which is MG4London's prediction that it will.

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