It looks like the automotive manufacturers better get in the board room and get in there quick. That's because they are going to have a huge problem on their hands and quite quickly on that note.
According to the pricing experts at Glass Guide, electric cars are essentially going to be worthless after several years of ownership. The reason?
The damned batteries, which only have a "USEFUL" life of eight years and cost a boatload to replace.
Do the Spies think this holds water? Seems to make a lot of sense to me.
The question now becomes, will manufacturers wise up and offer special warranties on the batteries OR will there be a push towards leasing programs?
After all, I do not think many owners will want to make a purchase knowing that after merely five years the auto holds only 10 percent of its original value. Not even the early adopters looking to save the world will buy into that...
The car valuation experts at Glass’s Guide have warned that, unless manufacturers take action soon, electric cars will suffer horrendous depreciation on the used market.
“If cars and batteries are sold rather than leased, and no special warranty cover is in place, the typical EV will retain only 10 per cent of its value after five years,” warns Andy Carroll, managing director of Glass’s.
This, says Carroll, is a function of the recognition that a typical EV battery will have a useful life of eight years and cost £8000 to replace...
[Source: Autocar]
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