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Look at the "entry level" electric vehicle, the Chevy Bolt with MSRP of around $26,500 and a range of about 260 miles.
Its been reported owners are easily getting 300 miles range.
Chevy needs a marketing campaign to show life cycle or total ownership costs for at least 10 years. Chevy guarantees the batteries for 100,000 miles. So figure based on 15,000 miles per year that is 6.7 years.
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I presume they did this to save the battery, as repeated fast charges, even on a Tesla, shorten battery life.
You could spend 5 years earning minimum wage to comfortably paying off the car loan for a Maverick.
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Look at the "entry level" electric vehicle, the Chevy Bolt with MSRP of around $26,500 and a range of about 260 miles.
Its been reported owners are easily getting 300 miles range.
Chevy needs a marketing campaign to show life cycle or total ownership costs for at least 10 years. Chevy guarantees the batteries for 100,000 miles. So figure based on 15,000 miles per year that is 6.7 years.
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https://issuesinsights.com/2024/01/04/collapse-of-used-ev-market-spells-doom-for-bidens-electric-car-dreams/
That's why you can get used golf carts for under $1k. The previous owner got the life out of the battery and the new owner has to replace them. The value goes to shit. Replacing a vehicle battery that moves up to 3-4k lbs loads, that's a big ass battery.
WookieMan says
That's why you can get used golf carts for under $1k. The previous owner got the life out of the battery and the new owner has to replace them. The value goes to shit. Replacing a vehicle battery that moves up to 3-4k lbs loads, that's a big ass battery.
Can you buy a used golf cart that has lithium batteries and relpace the lithium batteries with regular AGM car batteries and an AGM charger?
For short distances I prefer the electric since it's quiet and quick. Long distances EV's have never made sense to me. I drive long distances a lot. So it just won't work for me.
BTW - if you ever get a chance to roadtrip in a Tesla, check it out. Can't tell you how much more enjoyable and less stress it is to simply turn on Autopilot and let the car handle all the freeway driving.
True costs of fueling an electric vehicle, including excess charging costs and subsidies, is equal to $17.33 per gallon of gasoline, a new analysis found.
https://t.co/SSSkctoMeO
I pay full freight and I am still saving nearly $200/month in gas.
I have a V8 ICE Nissan Armada and live in the middle of no where. I don't spend $200 in gas a month. Not sure what you were driving before because you're not saving $200/mo in gas when factoring in electric. A semi?
I got no rebates, get no subsidies and pay some of the highest electricity rates in the country living in SoCal. Even with an EV, I use less electricity than my neighbors with pools and AC.
I pay full freight and I am still saving nearly $200/month in gas.
Minimum wage was $1.60 an hour back in 1970. Cars were affordable relative to minimum wage. You could spend 5 years earning minimum wage to comfortably paying off the car loan for a Maverick. City/Highway mileage was 17/22 only :-/
I average 1,200 miles a month including family road trips and gas is over $4.5/gallon.
zzyzzx says
Still paying the electric and you're not going to a super charger station every time unless you don't value your time. Or you hire an electrician to install a proper charger. There goes another $2k at least.
WookieMan says
Still paying the electric and you're not going to a super charger station every time unless you don't value your time. Or you hire an electrician to install a proper charger. There goes another $2k at least.
And I just got a letter from PG&E showing the new rate plans based upon what I paid in electricity last year. $300 more projected for EV charging plan.
Less demand for oil makes ICE vehicle cheaper.
Toyota is doing an end run around the 'designed to fail Green Electric Vehicle' by investing in production lines of hydrogen vehicles. I gather hydrogen may be a technology that works, to the consternation of the energy heroin dealers.
Bloomberg) -- Hertz Global Holdings Inc. plans to sell a third of its US electric vehicle fleet and reinvest in gas-powered cars due to weak demand and high repair costs for its battery-powered options.
The sales of 20,000 EVs began last month and will continue over the course of 2024, the rental giant said Thursday in a regulatory filing. Hertz will record a non-cash charge in its fourth-quarter results of about $245 million related to incremental net depreciation expense.
The dramatic about-face, after Hertz announced plans in 2021 to buy 100,000 Tesla Inc. vehicles, underscores the waning demand for all-electric cars in the US. EV sales growth slowed sharply over the course of 2023, rising just 1.3% in the final quarter as consumers were put off by high costs and interest rates.
“The elevated costs associated with EVs persisted,” Hertz Chief Executive Officer Stephen Scherr said in an interview. “Efforts to wrestle it down proved to be more challenging.”
Hertz plans to use some of the money raised by selling off EVs to buy gas-powered vehicles. “The company expects this action to better balance supply against expected demand of EVs,” it said in the filing.
The shift back to more conventional cars marks a reversal of a strategy centered on EVs, which the company hoped would fetch higher prices at the counter and hold their value.
Tesla’s price cuts raised his company’s depreciation costs, Scherr said. EVs also come with higher repair costs compared to the rest of its cars, which has hurt its bottom line and played a big role in missing third-quarter earnings estimates.
Higher repair costs? You mean like having to replace an entire $26,000 battery pack if the car gets in an accident that otherwise would be a minor fender bender?
I think you should try to test drive some of those cars from the 60s and 70s. I had a friend who recently paid quite a bit of money for a well-restored Mustang V8 from that era (sadly, an automatic). He soon realized that, although our current cars are mostly soulless and have entirely too many electronic "features," they are miles easier to live with on a daily basis. He sold it pretty quickly.
That rarely happens. At least not with Teslas.
This whole story is a nothing burger for Tesla. Tesla still can't build cars fast enough to meet their astronomical demand.
80% of Hertz' EV fleet they are complaining about the repairs being costly are Teslas.
And yet Hertz is taking a bath in selling these off.
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