"EVs require less maintenance" … oh really … : )

[F-150 Prius]

Should we add "egregious dealer mark-up" to the cost of owning an EV? : )
Anyway, I think this report (from '21) has dated and the reality of newer EVs is poor initial quality, high reliability, low operating costs, high resale value. Autoline is a credible news source. I'd like to see them repeat this information for late 2022 comparing Ioniq 5, Kia EV6, etc.

I expect what we've experienced 2020 thru 2022 will all change in 2023 thru 2025. Hopefully quality goes up (a lot) and resale value is more in line with decreasing msrp (msrp has gone entirely out of reasonable limits 2020 thru 2022 … the three worst years to buy an EV or plug-in.)

Personally, if I was buying a car in late '22, I'd get a fun ICE at a hefty discount rather than an EV which, in 2023 thru 2025 will become a very ordinary and common vehicle available in numbers far exceeding demand, therefore price (resale value) will plummet to erase the irrational exuberance of '21 and '22. I'm afraid people are paying $50 or $60K for unremarkable EVs today, vehicles which were $17K lower MSRP a year prior (!) and the resale value be based on that $17K lower price resulting in appalling losses, making EVs far more expensive to operate in terms of total cost of ownership.

Whether you keep a vehicle for 2, 3, 5 or 7+ years, 2022 is not the year to update. Of course, if you have the option to sell a vehicle in 2022, that's great, just so long as you don't have to participate in the over-inflated prices by buying a replacement vehicle. Me, I'm happy to sell one or two of my "less beloved" jalopies and invest that cash till the car and home markets collapse in 2023.

All I can suggest is hold off buying a car in '22, wait for the "shocking" price drops in 2023 as Tesla leads the market (far) lower while explaining that inflation has deflated and their supply side "chip shortage" logistics have been resolved (when what they really mean is "people stopped buying, so we had to cut the price till someone would place an order.")

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[sotek2345]

Should we add "egregious dealer mark-up" to the cost of owning an EV? : )
Anyway, I think this report (from '21) has dated and the reality of newer EVs is poor initial quality, high reliability, low operating costs, high resale value. Autoline is a credible news source. I'd like to see them repeat this information for late 2022 comparing Ioniq 5, Kia EV6, etc.

I expect what we've experienced 2020 thru 2022 will all change in 2023 thru 2025. Hopefully quality goes up (a lot) and resale value is more in line with decreasing msrp (msrp has gone entirely out of reasonable limits 2020 thru 2022 … the three worst years to buy an EV or plug-in.)

Personally, if I was buying a car in late '22, I'd get a fun ICE at a hefty discount rather than an EV which, in 2023 thru 2025 will become a very ordinary and common vehicle available in numbers far exceeding demand, therefore price (resale value) will plummet to erase the irrational exuberance of '21 and '22. I'm afraid people are paying $50 or $60K for unremarkable EVs today, vehicles which were $17K lower MSRP a year prior (!) and the resale value be based on that $17K lower price resulting in appalling losses, making EVs far more expensive to operate in terms of total cost of ownership.

Whether you keep a vehicle for 2, 3, 5 or 7+ years, 2022 is not the year to update. Of course, if you have the option to sell a vehicle in 2022, that's great, just so long as you don't have to participate in the over-inflated prices by buying a replacement vehicle. Me, I'm happy to sell one or two of my "less beloved" jalopies and invest that cash till the car and home markets collapse in 2023.

All I can suggest is hold off buying a car in '22, wait for the "shocking" price drops in 2023 as Tesla leads the market (far) lower while explaining that inflation has deflated and their supply side "chip shortage" logistics have been resolved (when what they really mean is "people stopped buying, so we had to cut the price till someone would place an order.")

I think your estimate of price deflation in 2023 is highly optimistic. Everyone is raising prices considerably and still can't keep up with demand. This might ease a little by 2025, but I doubt it. EV demand is going to run ahead of supply for the next 5 to 10 years.

 

[F-150 Prius]

I think your estimate of price deflation in 2023 is highly optimistic. Everyone is raising prices considerably and still can't keep up with demand. This might ease a little by 2025, but I doubt it. EV demand is going to run ahead of supply for the next 5 to 10 years.

I'm not applying optimism or pessimism … buyers might want prices lower, owners might want prices higher … I'm just reading the reports of inventories accumulating, dealer mark-ups erased, and flippers caught holding.
Here's a 2022 Q3 summary of just Tesla, but reflecting on all EVs since it leads the market price behavior.

 

[TaxmanHog]

IMHO, EVSE is a long term capital improvement on your property, a cost which translates into improved value if you sell the house in the future to another EV driver with a CCS-1 standards vehicle. If you need to install a EVSE in the next home that gain helps pay for the next installation.

 

[Maquis]

I'm not applying optimism or pessimism … buyers might want prices lower, owners might want prices higher … I'm just reading the reports of inventories accumulating, dealer mark-ups erased, and flippers caught holding.
Here's a 2022 Q3 summary of just Tesla, but reflecting on all EVs since it leads the market price behavior.

You do realize that the primary purpose of You Tube videos is to generate clicke, not disseminate valid information?

 

[PrivateJoker]

So far my 2018 Leaf has required wipers, washer fluid, and still on original tires. I have a set of Winter tires the car does roughly 50% of its milage on. I've lubricatred the calipers twice when switching on the winters so far - most people would pay for that.

I'm currently at 102k KM's which is 64k miles.

So just shy of 5 years and $ 1000 CAD in mainteance cost.

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