Not a reliable source, its a garbage site with a lot of clickbait. But Tesla used EV prices will drop sharply now that the new prices are dropping. When you buy a Tesla, Musk always said the prices WILL come down, so it isnt really a surprise. Same with any EV manufacturer, as supply increases, the prices will drop. Nothing new there, EV prices dropping and ICE cars will fall off a cliff as you will not be able to drive them in a couple of years. New Technology usually incurs BIG swings in prices, affordability and availability.
The article is factually correct. I have heard about this issue across multiple sources, including from those in the trade. The rapid take up of EVs in recent years has been driven by a rush from the early adopters, those who have easy at home charging options and company car drivers, where the benefit in kind tax advantages are substantial (the same issue has driven the take up of PHEVs, many of which are never charged by company car drivers!).
Used car buyers (who, let’s not forget, form the majority of car purchasers) don’t have the tax incentives and the usual concerns of range anxiety and charging difficulties (for those without private off road charging) are supplemented by concerns about battery degradation and eye watering and uneconomical replacement costs as EVs age. Naturally, all of this will be resolved over time as battery technology improves, but these issues (and others, as stated in the article) are causing consumer hesitancy in the second hand EV market at present.
Finally, to state that people won’t be able to drive ICE cars in a couple of years is complete and utter nonsense. For a start, it’s blindingly obvious that the 2030 / 35 dates are going to be extended. However, as there will be at least one change of government before any announcement on that has to be made, there is no prize for admitting it now. Bigger fish to fry, and all that.
Secondly, and more importantly, the dates only refer to brand new cars. The average age of cars on U.K. roads is currently around 9 years of age (it was 8.4 years in 2021 and has been increasing, with some reports suggesting it’s now around 10 years). With tens of millions of people not having the financial means to buy EVs (new or used), or not having home charging solutions, that average age will continue to increase. So, even if the current dates don’t change (which they will), with over 33 million cars on U.K. roads (and rising), you don’t have to be a mathematical genius to realise that there will still be tens of millions of ICE cars on U.K. roads well into the 2040s and beyond.
There is no doubt that EV take up will continue to increase year upon year, new prices will fall, battery technology will improve (range will improve, actual range will start to get closer to stated range and winter range won’t drop by up to a third like it does now), battery life will extend, replacement battery costs will fall, making replacement more viable, and charging infrastructure and charging times will improve. However, those who are unwilling or unable to make the switch to electric will be able to drive ICE cars without any difficulty whatsoever for decades to come.