Would extending the EV leases to 5 years smooth out the losses ?
Beat me to it. Yet they are getting tougher on extending past 3 years. But then a car might be on 100k miles, instead of 60k 3 years. How many use the full allowance though. It’s clear though that the main losses are from cars they bought 3 years ago at inflated prices. They profited then, but didn’t see that the bubble would burst as many suggested it would. As it was born out of a lack of supply, coupled with higher costs for manufacturing and the needed microchips. Plus more competition from the east. Yes EV’s play a part as Technology moves on and leaves those older cars less desirable mainly Imo down to there slow charging time and speeds. What will happen when 800v are the norm, who will want 400v, unless that’s all they can afford. The average EV loses 1.8% range each year, which isn’t bad and is expected. So in 10 years 18% if looked after. Personally I’d never buy an EV at this moment in time any many are just leasing them. Those leasing companies are going to feel this also, as will many others effected by green policies. As for ice as there are less and less being sold each year and the next due to government levels. Used values will rise on them due to lack of availability and a higher demand for them than supply. There is a cost to climate change polices and that’s losing huge money on the transition being forced upon us all. how it all falls and plays out in the end who knows. Ultimately its us the consumer and tax payer who foots the bill.
EX30 SMER Ultra