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Dentmaster
Posted: 14 November 2023 22:00:31(UTC)
#51

Joined: 23/01/2021(UTC)
Posts: 440

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These cars are depreciating big time. The local Porsche dealership i do work for have at least 30 to 40 brand new cars that they cannot fix,or have been handed back by customers. The Audi dealership next door is no different, stuffed full of electric cars with major faults. Was working in Toyota Dealership, Yreg Auris. Mot failure, just light on in dashboard. £3500.00 for new batteries fitted.
Give me a petrol or diesel any day.
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4 users thanked Dentmaster for this post.
Captain Slugwash on 15/11/2023(UTC), Jonathan Friend on 15/11/2023(UTC), Martina on 16/11/2023(UTC), Thrugelmir on 27/11/2023(UTC)
Tim D
Posted: 27 November 2023 14:19:42(UTC)
#52

Joined: 07/06/2017(UTC)
Posts: 8,883
US focus, but an interesting read on how Tesla's efforts to "fix" the problem of high EV premiums by launching their own insurance company are working out:
https://www.reuters.com/...-report/tesla-insurance

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ANDREW FOSTER
Posted: 27 November 2023 14:48:08(UTC)
#53

Joined: 23/07/2019(UTC)
Posts: 8,125
Tim D;287587 wrote:
US focus, but an interesting read on how Tesla's efforts to "fix" the problem of high EV premiums by launching their own insurance company are working out:
https://www.reuters.com/...-report/tesla-insurance



Elon Muskow does seem to be making himself unpopular in almost everything he touches these days...
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Thrugelmir
Posted: 27 November 2023 17:31:41(UTC)
#54

Joined: 01/06/2012(UTC)
Posts: 5,333
ANDREW FOSTER;287589 wrote:
Tim D;287587 wrote:
US focus, but an interesting read on how Tesla's efforts to "fix" the problem of high EV premiums by launching their own insurance company are working out:
https://www.reuters.com/...-report/tesla-insurance



Elon Muskow does seem to be making himself unpopular in almost everything he touches these days...




Being good at one thing doesn't mean that you are good at everything........

The facade is wearing thin.
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Newbie
Posted: 02 December 2023 17:52:42(UTC)
#55

Joined: 31/01/2012(UTC)
Posts: 3,819
Visited 3 car dealerships today and all trying to convince me to go electric despite my insistence that I do not want an electric car.

In one showroom, I mentioned that the insurance issue and the the response (on the basis that I shared the other options I was looking at) was that one of other options was also struggling with insurance as it prone to being stolen.

Another was the issue with servicing and repairs - but was hit back with the fact they did not need repairing.

A hybrid at push would be a consideration for me.

I was and am happy to invest in Tesla (though trimmed recently), NIO, BYD but not prepared to buy a vehicle from them - I am still a believer of an old advice given to me over 3 decades ago - be prepared to invest in places where you would not go and at the same time discount places where you would go. It has served me well thus far.

I struggle with how after paying £100k for an electric vehicle it would have any residual value after say 4 years when the battery is used/knackered. On top the replacement cost of a battery itself would be extortionate itself and only a few specialists able to carry it out. In essence 70% of the value of entire vehicle to pay for the 30% of the actual vehicle components. I know brands have this level of power but this to me is a new level.
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DIY Investing
Posted: 02 December 2023 18:28:03(UTC)
#56

Joined: 29/09/2018(UTC)
Posts: 3,828

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Lithium-ion EVs are increasingly looking like a technological dead end. There is an over supply, and after 1 year they are depreciating by about 37%. You can pick up nearly new run of the mill EVs like electric Citroen C4s for about £18k and they still aren’t selling. There is a reason!

Range isn’t getting much better. Charging times aren’t getting much better. And the variability of range, depending on the weather, is a joke, as is battery degradation !

EV’s are also now more expensive to run.

If anyone will offer a genuinely viable alternative to petrol/diesel cars, it will be Toyota with ammonia ICE vehicles and solid state battery EVs with 900 mile ranges in any weather….probably made out of magnesium eventually.

A very risky decision to buy one of the current EVs IMO.

We’ve just purchased a new petrol vehicle. Not even a hybrid. Nearly new Hyundai Tucson 1.6T N-Line, 13k miles, just over £24k, loaded with kit, cheap to insure, main dealer topped the warranty up to 5 years for free, takes 2 mins to refuel, should last for 10 years.
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3 users thanked DIY Investing for this post.
Jay P on 02/12/2023(UTC), Tyrion Lannister on 11/12/2023(UTC), bearcub on 09/02/2024(UTC)
Alan Trent-Arnold
Posted: 04 December 2023 18:44:22(UTC)
#57

Joined: 01/12/2023(UTC)
Posts: 2
If this is true, it could have significant consequences for the adoption of electric vehicles. Higher insurance costs might deter potential buyers and slow down the transition to greener transportation.
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