Elon Musk Warns That Residual Values For ICE Vehicles Will Plummet In The Next Few Years

#doubtful

Musk is a nut case willing to disrupt the market for his own selfish narcissistic gain. Musk is PATHETIC liberal enemy of society.

Run for the hills.

Iron Maiden

White man came across the sea
He brought us pain and misery
He killed our tribes killed our creed
He took our game for his own need
We fought him hard we fought him well
Out on the plains we gave him hell
But many came too much for Cree
Oh will we ever be set free?
Riding through dust clouds and barren wastes
Galloping hard on the plains
Chasing the redskins back to their holes
Fighting them at their own game
Murder for freedom the stab in the back
Women and children are cowards attack
Run to the hills, run for your lives

Would highly recommend thinking through these scenarios.

As EVs become more popular and the long term cost saves are more widely recognized, that will reduce demand for ICE cars, prices will depreciate more.

As self driving vehicles start hitting the market and more people decide to live without a car, it will reduce demand for ALL cars, with the exception being cars that could either be used as a personal self driving vehicle or an investment. Again, ICE demand will be hit the hardest.

Unless you have a collector's ICE vehicle, would highly recommend upgrading to an EV as soon as it makes financial sense for you. For the Tesla haters, there are many great options coming out from Ford, VW, and Kia over the next couple years.

EVs becoming the dominant percent of sales will not happen for another 10 years at least.

Even if they hit 20% of sales it would have a monetary impact for ICE owners. Given future product roadmaps of pretty much every auto manufacturer, it's not going to be long before it is a significant amount of sales. EVs are at 30% of sales in some countries already. Once it hits those levels it's not coming back... it's a one-way road.

Musk is a nut case willing to disrupt the market for his own selfish narcissistic gain. Musk is PATHETIC liberal enemy of society.
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I don't wish to be unkind, but you sound like the nutcase.

Elon Musk Warns That Residual Values For ICE Vehicles Will Plummet

The above is from a non biased source. The scientific results are as accurate as the Democrat Iowa Election last week.

lol

The cost of producing and insuring EV's is not coming down that fast. ICE cars will be around for a long time.

It's coming down dramatically faster than ICE cars, as stated by companies that produce both. The biggest cost in an EV are the batteries, and luckily that is the component dropping in cost the fastest. The forecast was by 2025 an EV would be cheaper to build than an equivalent ICE car, but I think it will be sooner than that and Tesla's probably already at that point with the 3 and Y.

That's maybe the case, but I for sure the crap called Tesla will go down together

"Well I'm reminded of maybe the smartest guy I've ever met — Jim Hall. He worked on the original EV-1 electric car, the first General Motors electric car. When he left that project his parting gift from his fellow employees was a 75-foot-long extension cord, which I thought was terribly funny. And he said that there are three types of liars in the world: there are liars, damned liars and battery engineers. They will promise you anything." Jim Kenzie https://www.cbc.ca/radio/checkup/blog/we-ve-got-a-long-long-way-to-go-auto-reviewer-says-the-electric-car-won-t-save-us-1.4229119

law of supply and demand still apply

Depends on what they do to the price of Gasoline though.

Still - not in my lifetime

Funny how all the boomers here disparage EVs when they are increasingly part of the transportation scene, not to mention critical product strategies for all the major brands. Yes, you and only you alone must know what the market doesn't know, nor do companies with billion plus revenues and their professional managers and industry specialists.

This is the problem with geriatrics like you, you can't accept changes, you are too proud to admit you are wrong because you are too afraid of being left behind. Kindly move aside or check into a nursing home boomers, stop standing in the way on innovations.