ICE vs EV future resale value

[thx1139]

I believe there were some recent studies/prediction on future used car market and how EV will cause a rapid reduction in resale value for ICE cars.

Anyone have links to these?

 

[Just a Reader]

Really depends on how old these cars are, doesn't it? Within my extended family I have several people who drive old Mercedes. Basically any backstreet garage can repair them for little cost. Replacement parts are reasonably priced and will be delivered to anyone.
Compare that to a used Tesla and the financial risk of having one central component fail.

 

[CapeOne]

I personally think it's way too early to tell. EVs still make up a very small portion of the overall automotive market and even though there are many new EVs due to come out over the next few years, the overall EV sales percentage is likely to remain low for a while.

Also, battery and related technologies are continuing to improve which could cause EV resales to drop even faster than typical ICE vehicles at least in the near term as pricing remains volatile. A new 2018 MS 100D with EAP/FSD retailed for $105,700 or $98,200 after federal tax credit. You can get a new 2020 MS LR+ with FSD and more range for $84,190.

 

[thx1139]

Really depends on how old these cars are, doesn't it? Within my extended family I have several people who drive old Mercedes. Basically any backstreet garage can repair them for little cost. Replacement parts are reasonably priced and will be delivered to anyone.
Compare that to a used Tesla and the financial risk of having one central component fail.

Why would you compare an old car with a brand new car? The point is to compare a brand new EV with a brand new comparable ICE car. Like a Model Y with a ICE Crossover SUV.

 

[Just a Reader]

Why would you compare an old car with a brand new car? The point is to compare a brand new EV with a brand new comparable ICE car. Like a Model Y with a ICE Crossover SUV.

You seem to take it for granted that electric vehicles will reduce the resale value of ICE cars to a significant extent. Yet while this is likely I don't see it as guaranteed right now. While there is a well developed support system with reasonably predictable cost of ownership for a used ICE car (that's what I wanted to point out), it seems to me still not clear if buying an electric car beyond a certain age makes any sense at all, if a single defect to a key component makes the car a complete economic loss.
I believe that much will depend on environmental legislation, e.g. the attempts to ban ICE cars from city centres.

 

[thx1139]

You seem to take it for granted that electric vehicles will reduce the resale value of ICE cars to a significant extent. Yet while this is likely I don't see it as guaranteed right now. While there is a well developed support system with reasonably predictable cost of ownership for a used ICE car (that's what I wanted to point out), it seems to me still not clear if buying an electric car beyond a certain age makes any sense at all, if a single defect to a key component makes the car a complete economic loss.
I believe that much will depend on environmental legislation, e.g. the attempts to ban ICE cars from city centres.

Would a single defect to a key component not make an ICE car a complete loss? I would say that ICE cars have far more of those components because they have far more components. I have spent $0 on repairs on the 4 EV cars that I have owned. Have spend $80 on maintenance (each volt needed 1 oil change). My Mercedes was a money pit. My BMW had regular maintenance costs.

Still that isnt the discussion. I know I have seen articles. Just dont have links. The basic idea as EV continue to move up in new car market share they also will start to become a large share of used car market. At the same time more people want EV cars because of the longer lifespan and lower maintenance costs. So demand for used ICE cars starts to drop.