Any new car loses a lot of value in the first 2 or 3 years, yet people still buy them.
Given how much further EVs have been depreciating than ICE, especially petrol cars of late, that will in my view put many off buying, including leasing companies. If the manufacturers themselves have to lower the new prices (and lease / PCP rates) to suit the market, how are they supposed make a profit and plan for the future?
The decision to buy new is not just financial - it has to do with status, lack of wear, up to date gizmos, better reliability than s/h, length of warranty, the smell of a new motor., social kudos for being environmentally astute etc.
Unfortunately, most of those interested in 'status' (including virtue-signalling) have already shelled out for new EVs, as all those high-end Teslas, Audis, BMWs, etc on the road show.
The next body of potential buyers will be far less wealthy people who want value for money (which includes resale values and lease-hire and PCP rates), even if they want a nice looking car that goes well. And that includes people in business as well as private buyers.
Smaller more basic car buyers will often be private. Owners may do very low mileages and keep cars for many years. Range is not an issue. EV will reduce running costs if charged at home, and will often be part of a two car household - the other used for longer journeys.
Unfortunately that doesn't matter when the new price is twice (or more) what they paid for their last car, plus their insurance rockets as well, especially in the current hard financial times with high real-world inflation biting. I suspect far more people in that cohort (myself included) will end up buying another ICE petrol car, and likely not a new one.
The price of new small EVs is now similar to ICE. There are numerous new ICE at ~£15k price level already being sold - there is no reason why buyers of new EVs at a similar price level will not.
If they can be made so cheaply without some form of taxpayer or cross-platform subsidy, then why aren't EVs in the levels above being sold for amounts similar to petrol cars?
Note also that many ordinary folk will have no access to home charging, and do not want to run the proverbial gauntlet of 'public' charging, whether via long charging times (including waits in queues a-la 1970s petrol queues) during their busy lives, broken/faulty (but sometimes not listed ion apps as such) charging stations and potentially unsafe (crime against the person/car) situations at unmanned charging points.
Plus the price of public charging now equalling or more than the cost of refuelling a petrol car.
That on a financial basis buying s/h can make more financial sense misses the point!
Perfectly fine if you're reasonably well off, live in a nice, low crime area with a good number of filling stations and supermarkets with EV charging points, have access to home charging and preferably a roof PV and battery storage system, and/or have a decent amount of time on your hands and don't need to use it that much.
Not so good for everyone else, which is a LOT of people, the vast majority of which this nation depends on being mobile for its well-being.
If the market was left to change organically, that would change, but likely not for 20-30 years at best. It's all being rammed down our throats whether we like it or not (and for the benefit of the rich and powerful at our expense), and, despite what the so-called experts and their mouthpieces in the media and parliaments tell you, 'The Science' behind the 'reasons' for the enforced changes is far from being 'settled', which is a term to describe a political situation, not a statement of fact.
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