Concerns over the resale value of electric cars

deep_bang · 29th August 2024, 05:28

Since we are comparing cars to phones, here is a thought.

We change phones every 3 to 4 years (mostly - some may change in 2 years and some in 5). But we tend to keep laptops for over 6 to 8 years - may be even 10. My home PC is a 10 year old machine. How come there is such a vast difference in the mindsets of a phone buyer and a laptop buyer - in spite of being in the same industry.

The answer to me is planned obsolescence. The phone market is mostly pushed by the manufacturers themselves so people buy phones every 3 years. Somehow a perfectly working phone becomes slow and sluggish. And then you feel it's time to change. There are people who genuinely want something new - and that's true for phones, laptops and cars. But the majority are not like that.

Unless the car market does not get into this mode where obsolescence is planned, we should be fine for these EV s to last for 2 decades easily. But because a lot of the car parts are a blackbox, we need some regulation here for serviceability. Just like the ice cars have OBD and the ecosystem around diagnostics, which is mandated in several countries in the interest of servicing the product in case the manufacturer goes bankrupt, we need better serviceability in the EVs. Some regulation is required that makes it more open, which will enable 3rd parties to understand the system and support it along with the manufacturers. For example, in ICE you can get a oil filter at the ASS or at a local parts store. So, some basic accessories should be available outside of a company. For example after a decade of the battery is going bad, how easy is it for a 3rd party to develop the battery for a car? Today, I think it's almost impossible for 3rd parties to make anything apart from the usual brake pads/and such.

Once such a regulation comes, I think all issues for resale value will be put to rest.

Comrade · 29th August 2024, 06:53

EV makes absolute sense if you tend to keep your cars for long term.

Here is a testimony from my previous car, which is still with in my family. This car just turned 100k miles today. After 100k miles on the odo, the car (2014 Tesla Model S RWD 85 kwh) still gives ~195 miles range at 80% charge. It used to give ~205 miles when new. So the battery (original to car) is holding ~95% charge after 100k miles and 10 years. What more do we want from an EV?

Concerns over the resale value of electric cars-a3b54338766f4f03ab9c9b48e0cd9b08.jpeg

GoBabyGo · 29th August 2024, 10:51

Hi, I think the resale value of MG ZS EV, which is a 2018 style product, selling in 2024 at a price which is higher than competition (e.g. Curvv.ev or XUV 4OO). In addition MG ZS EV's ICE sibling, the Astor is a flop product, therefore, perception of MG ZS EV is not so good in resale market, resulting in poor resale value.

I think pricing of EVs should be like:

Punch EV size EV with 35kWh battery should sell between 8.99 lacs to 10.99 lacs
Nexon EV size EV with 40kWh battery should sell between 9.99 lacs to 12.99 lacs
Curvv.ev, Windsor EV, XUV4OO (upto 4.4 meter size) EV with 40kWH (38.8kWh too) to 55kWh battery should sell between 13.99 lacs to 18.99 lacs
Anything above 4.4 meter long with 50kWh battery should sell from 21.99 lacs to 23.99 lacs and with 60kWh battery should sell between 24.99 lacs to 27.99 lacs e.g. BYD Atto3.

29th August 2024, 05:28	#61
deep_bang BHPian Join Date: Mar 2007 Location: Bangalore / Boise Posts: 915 Thanked: 1,410 Times	Re: Concerns over the resale value of electric cars Since we are comparing cars to phones, here is a thought. We change phones every 3 to 4 years (mostly - some may change in 2 years and some in 5). But we tend to keep laptops for over 6 to 8 years - may be even 10. My home PC is a 10 year old machine. How come there is such a vast difference in the mindsets of a phone buyer and a laptop buyer - in spite of being in the same industry. The answer to me is planned obsolescence. The phone market is mostly pushed by the manufacturers themselves so people buy phones every 3 years. Somehow a perfectly working phone becomes slow and sluggish. And then you feel it's time to change. There are people who genuinely want something new - and that's true for phones, laptops and cars. But the majority are not like that. Unless the car market does not get into this mode where obsolescence is planned, we should be fine for these EV s to last for 2 decades easily. But because a lot of the car parts are a blackbox, we need some regulation here for serviceability. Just like the ice cars have OBD and the ecosystem around diagnostics, which is mandated in several countries in the interest of servicing the product in case the manufacturer goes bankrupt, we need better serviceability in the EVs. Some regulation is required that makes it more open, which will enable 3rd parties to understand the system and support it along with the manufacturers. For example, in ICE you can get a oil filter at the ASS or at a local parts store. So, some basic accessories should be available outside of a company. For example after a decade of the battery is going bad, how easy is it for a 3rd party to develop the battery for a car? Today, I think it's almost impossible for 3rd parties to make anything apart from the usual brake pads/and such. Once such a regulation comes, I think all issues for resale value will be put to rest. Last edited by deep_bang : 29th August 2024 at 05:29.
	(3) Thanks

29th August 2024, 06:53	#62
Comrade BHPian Join Date: Jul 2008 Location: HYD Posts: 640 Thanked: 1,777 Times	Re: Concerns over the resale value of electric cars EV makes absolute sense if you tend to keep your cars for long term. Here is a testimony from my previous car, which is still with in my family. This car just turned 100k miles today. After 100k miles on the odo, the car (2014 Tesla Model S RWD 85 kwh) still gives ~195 miles range at 80% charge. It used to give ~205 miles when new. So the battery (original to car) is holding ~95% charge after 100k miles and 10 years. What more do we want from an EV? Last edited by Comrade : 29th August 2024 at 06:59.
	(12) Thanks

29th August 2024, 10:51	#63
GoBabyGo BHPian Join Date: Jan 2023 Location: Noida Posts: 375 Thanked: 1,131 Times	Re: Concerns over the resale value of electric cars Hi, I think the resale value of MG ZS EV, which is a 2018 style product, selling in 2024 at a price which is higher than competition (e.g. Curvv.ev or XUV 4OO). In addition MG ZS EV's ICE sibling, the Astor is a flop product, therefore, perception of MG ZS EV is not so good in resale market, resulting in poor resale value. I think pricing of EVs should be like: Punch EV size EV with 35kWh battery should sell between 8.99 lacs to 10.99 lacs Nexon EV size EV with 40kWh battery should sell between 9.99 lacs to 12.99 lacs Curvv.ev, Windsor EV, XUV4OO (upto 4.4 meter size) EV with 40kWH (38.8kWh too) to 55kWh battery should sell between 13.99 lacs to 18.99 lacs Anything above 4.4 meter long with 50kWh battery should sell from 21.99 lacs to 23.99 lacs and with 60kWh battery should sell between 24.99 lacs to 27.99 lacs e.g. BYD Atto3.
	() Thanks