If you buy any car, new, period. You've lost a fortune. Doesnt matter if its an EV or an ICE car: 90% of most cars are nothing more than massively overpriced consumer goods, very similar to the mobile phone market. If you buy any car, outright, brand new, you either need to accept that you've blown ~30K+ or you clearly can afford to not even think about such things. Most new car buyers are buisness lease or consumer lease anyway because as a consumer Depreciation doesn't matter for the most part it's owner of the car that takes the hit aka the dealer or broker. The Depreciation on EVs, IS a good thing. It proves that like it or not, to make a decent EV, it means huge amounts of R&D and investment. The Manufacturers; notably VW, Ford, Mercedes etc, presumed they could just switch to creating an EV easily because they knew how to make ICE cars. What the manufacturers found is that in order to make any money with their inefficient EV cars (that did nothing more than bolt a motor and battery to a petrol chassis and call it quits to get the range that they marketed as being so important) they needed to slap a whopping great battery in the car (the most expensive part) and as a result, they needed to drive prices up to the 50-80K region and call the car "premium" because they still need to make a profit. They did all of this, while only investing a couple of million in their EV Reaserch and Development as they didn't want to eat away at their own profits. And in the case of VW, get into even more debt. The knock on effect is that most consumers simply aren't interested in European EVs. Which is why they depreciate so much. And they should depreciate that much, because they're not worth 50-80K. The only reason why they're sold at that price is so that the manufacturers can try to make profit while figuring out how to invest.
If you buy any car, new, period.
You've lost a fortune. Doesnt matter if its an EV or an ICE car: 90% of most cars are nothing more than massively overpriced consumer goods, very similar to the mobile phone market.
If you buy any car, outright, brand new, you either need to accept that you've blown ~30K+ or you clearly can afford to not even think about such things.
Most new car buyers are buisness lease or consumer lease anyway because as a consumer Depreciation doesn't matter for the most part it's owner of the car that takes the hit aka the dealer or broker.
The Depreciation on EVs, IS a good thing. It proves that like it or not, to make a decent EV, it means huge amounts of R&D and investment.
The Manufacturers; notably VW, Ford, Mercedes etc, presumed they could just switch to creating an EV easily because they knew how to make ICE cars.
What the manufacturers found is that in order to make any money with their inefficient EV cars (that did nothing more than bolt a motor and battery to a petrol chassis and call it quits to get the range that they marketed as being so important) they needed to slap a whopping great battery in the car (the most expensive part) and as a result, they needed to drive prices up to the 50-80K region and call the car "premium" because they still need to make a profit.
They did all of this, while only investing a couple of million in their EV Reaserch and Development as they didn't want to eat away at their own profits. And in the case of VW, get into even more debt.
The knock on effect is that most consumers simply aren't interested in European EVs. Which is why they depreciate so much.
And they should depreciate that much, because they're not worth 50-80K. The only reason why they're sold at that price is so that the manufacturers can try to make profit while figuring out how to invest.