@@adamwhite9304its because of the benefit in kind discount. If your a director and already max out your dividend payout and further money you take is 40% tax. So getting a taycan on personal finance is like giving yourself an 2k payrise a month without any tax and reduction on corporation tax, it makes it insanely cheap if you have a successful business. You can't really buy them through your business unless you can justify why your business needs it.
@@adamwhite9304generally they are not as you would need to justify to HMRC why you need a personal car bought for you through the buisness. A lot are leased personally due to the massive benefit in kind discount which essentially makes it 40% cheaper if you have a successful business and you've already maxed out your dividend pay. Also paying yourself more reduces corporation tax so saves you another 19% there
This is also why there are tons of them about and why no one wants to buy them second hand as the BIC discount is all but gone after the 3 year lease is up
I bought a used Tacan 4S this past year. It had already lost 50% of its original value so it ended up being a good deal. For the cost it was the nicest and best performing car I could get. And the sports car I traded in was costing me $450 a month in gas. Here in Texas the average cost per KW is significantly lower than mentioned in this video. I have only used public chargers a hand full of times when on a road trip. So far it is one of the best cars I have ever owned.
I brought a 6 month old Taycan Gts sports tourismo with 2.700km for almost half the price. It was rear ended while parked with no structural damage, repaired at a Porsche dealer. Best purchase ever
My Turbo S got hit -- complete write off... $200k. You are lucky dude... I had to fight for 6 months with insurance to get my write-down... Stupid to buy one... Never again,
Politicians decided that we were all going to be electric with absolutely no plan, and no understanding of the environmental impact, market, and support network. The whole thing is a disaster.
It's not going to end well. We need to develop our combustion engines it's moving to EURO 7, which is clean. Meanwhile, many developed countries build more coal mines...!
It's not just about the newest version, if you have an EV that's been used for a few years, its battery health will degrade meaning it achieves less range. You could potentially drive a ICE car for 100,000+ miles with very little maintenance, not the case with EVs. We'll all be "upgrading" and sending our old cars to landfill more often.
Its not just EVs though. Look at the price of a new Panamera Turbo S and the price of a 4 year old used one. Luxury coupes and limousines depreciate heavy in general, that's not just an ev thing. Surely it might be a little more on the taycan than on the Panamera, but it's not like a Panamera holds its value a lot better
Even a "sensible" car such as a new VW Golf 1.5 Tsi will only be worth 48% of it's new cost after 3 years/36k miles. Depreciation isn't just an EV "thing"
So... it depreciates like Porsche's other sedan, the Panamera. Collectors want old 911s. Driving enthusiasts want used 911s. That counters depreciation. But nobody wants a used Porsche sedan. They are not collectable like the 911, nor are they "pure" sports cars like the 911. The people who buy Porsche sedans are doctors and lawyers who are only want to lease new ones.
The central planners don't want you to switch to an ev, they don't want regular people to have a car at all. I'm surprised almost no one sees this coming..
why would they want this? thats an entire industry and thousands of jobs all over the EU paying billions in tax, whats the replacement?
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Incredible how intensive Tim is still going into cars everyday. He must be one of the hardest and consistent UA-camrs period. I love watching The Stradman, who mostly films in front of his house - how it must be like for Tim to manage time, flights, trains for all car presentations he attends - one day someone should make a movie or at least a documentary about him and the behind the scenes that we don't see. Hardest working man in the room for me. Greeting from Germany, Dirksón!
I have a Tesla Model S with 187,000 miles on it. It has original battery and 99% of its charging through its whole life has been done at home. I’ll tell people all the time if you don’t have a garage please do not buy an electric car.
@BryceLovesTech The mileage isn't the main or biggest driver of battery life, as much as age & where it operates over its life span. Hell, some people put 180,000 miles on a vehicle they use for work within 5/6 years. The average driver in the USA drives 15,000 miles a year. If you drive a lot 20,000 a year is nothing when you use it for work. Plus, What is the life expectancy of an EV battery? between eight and 12 years Plan on a service life of between eight and 12 years if your EV is regularly used in more extreme conditions. These are states with severe summers like desert states AZ part of California or winters, like they get in Chicago, or the Great Lakes area of the United States Minimize the batteries at 100% state of charge Electric cars already have installed with a battery management system that avoids them being charged and discharged at the extreme state of charge. Keeping the state of battery charge, from 0 percent to 100 percent , also improves the performance of the battery life of your vehicle. Even though a full charge will give you the maximum operating time, it is never a good idea for the overall lifespan of your battery. Ev batteries like to be used & doing so extends the cars battery lifespan. Your vehicles batteries doesn't like fast charging or sitting on 100% charging. Control the optimal battery state of charge during long storage EVs that are parked or stored with an empty or full battery also degrades the battery.
@@mini_steve Its not that its an electric car, its the Li-ion batteries - the Asbestos of the 21st century. In the next few years we will have much lighter, safer batteries with less toxic metals. I can see the government saying "All Lithium battery cars must be scrapped by 2040" :-)
I'm afraid the bit missing here is that depreciation on large saloons has always been catastrophic. Just look at the residuals of a 2020 7 series or S-class. It's been one of the legends of the car industry for decades - buy a 4 year old luxury saloon, wether petrol, diesel or EV.
I knew someone with industry connections who bought a 6 year S class for silly money, had it restored basically to new condition, and enjoyed telling people it has cost as much as a new 1.6 litre Escort. He put 60 000 trouble free miles on it in 18 months, paid for by his company.
This is a very complicated subject, where practically everyone's usage of their vehicle is different, so Mr Shmee's point about weighing up all the factors around electric car ownership is absolutely crucial. We have a home charger, which is seldom used because my wife's Kia EV6 gets charged FOC at her office via mainly their solar panels. Her previous employer offered the same. The car has been 100% reliable, which has a lot to do with the huge reduction in complexity over an ICE car. It's a real pleasure to drive on normal roads, i.e. not those quiet country lanes you see UA-cam car reviewers using. On the odd occasion we do a journey over 250 miles, being early birds we leave home early & plan where we'll stop for a fast charge, the car charging to 80% in eighteen minutes. A real no-brainer. Regarding battery life, as another poster mentions with a bit of care it'll last for many years, and even if it dropped to half its capacity the car would still be perfectly fine for my wife's use.
@@billhesford6098 That's just over 900 km. A long range RWD Model 3 can do 700km on a charge, so you'll need one quick supercharger stop, and Tesla alone has a ton of DC fast chargers along the way
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The Taycan depreciations and the fact that people aren't really buying electric cars (the vast majority on the road today are from the electric car schemes and not true ownership) is the result of government meddling in the market.
It's entirely appropriate for governments to "meddle in the market" to reduce the massive worsening harms from human greenhouse gas emissions. Most economists agree the sane way to do it is to tax fossil fuels for the harms they cause when burned, but many politicians are allergic to the 'T' word and are in thrall to fossil fuel interests. Of course people are really buying EVs.
@skierpage the vast majority of EVs are owned by company car drivers who only have them because of tax break. As soon as that benefit is removed, 90% ow owners couldn't afford them
Taycans are being bought because of allocations for Rs models, then being sold in big quantities, ruins out market. Basicly Porsche made them to be cheap.
I couldn't disagree with you more Tim on the energy cost of operating my 2022 Taycan Cross Turismo. I charge from home and average around 3.4 miles per kWh and pay 0.11 per kWh here in the States. Therefore a 60 mile round trip to Columbus Ohio from where I live costs me $1.94. I also get 3 years free charging at any Electrify America charging station and free charging at my Porsche dealership. Since I use the car primarily within a 100 mile radius from my home, I rarely have to avail myself to those services. The above plus a $7,000.00 tax credit makes it very cost effective for me, along with the fact that depreciation only comes into play if you sell the car, which I love and have no plans to do so. Love your channel, btw...
@@martinaston1715same in the UK. I pay 8p/kWh on overnight charging. Cost per mile is about 20-25% of the equivalent ICE vehicle. It’s public charging that is crazy expensive. Simple rule - don’t buy an electric car if you can’t charge at home. This is the real issue.
@@ultra1obscene Or get solar panels and Lithium batteries and get charging for free - Like I do! I will likely not sell my electric car ( not a Porsche) and drive it until it is totally free effectively via maintenance savings (compared to thermic cars) Not much maintenance with electric motors!
Talking about the devastating depreciation on the Taycan is unfair on EV's. Yes its a huge loss but its also a huge car. What about the devastating depreciation on stuff like the Audi A8, Merc S class, Bmw 7 series, Maserati Quatroporte and big fat Jaaags etc, they always were down 50% by the 3yr mark.
Thanks for an insightful analysis. As you pointed out the experience of running an EV depends very much on where you live, your typical pattern of car use and whether you are an enthusiast - and therefore inclined to change your vehicles regularly. Every potential buyer is on a spectrum of EV suitability. There are people with negative experiences. But let me illustrate what it is like to be in a near-ideal situation. We live in sub-tropical Australia, have 12 kW of reliable solar and 80% of our EV charging is electricity that we generate. The remainder is supercharger fees at 70 cents (36 pence)/ kWh. Our 2019 Tesla Model 3 P- has covered 120,000, still has a reliable 440 km of range and has never been ‘serviced’. We are on our third set of tyres, have replaced the 12-volt battery and wiper blades. That is all - literally. The brake pads are still in good shape. The car is a little scruffy after 5 years of constant use, and has depreciated a lot. But I don’t care. I am not interested in selling. The car is comfortable, safe, quick and very cheap transport.
Good evening Tim. Could you please tell us the story of your near big purchase on the beginning of the year? Very curious about what car was about and what did you ending up not buying the car. Thank you
Thanks, totally put me off ever having electric cars. I am putting together my dream fossil fuelled garage that will see me through the next twenty years. Interesting he references Porsche re buying stuff you don’t want to get the stuff you do, yet he said he wanted half a dozen Ferraris I; an earlier video….
Took a lesson with a company that specializes in studying this. In the market actually, ev and ice cars parts prices are very similar. electric motor costs similar to Ice engine, electric converter to transmission etc, they are all similarly priced. Only difference is one takes 5 bucks to make a gas tank, one costs 10k more to make that "gas tank"
@@theJenkisushi This is completely incorrect. Electric vehicles cost 25% - 40% more than ICE vehicles. The main reason for this price difference is the battery required for electric vehicles.
I bought my Model 3 in the UK five years ago and even then it was cheaper than the equivalent ICE car at the time. But then if you look at China today and you can get the cheapest Model 3 for about £25,000 or a VW ID3 for £12,000. If we had those prices ICE cars would be history. As for production costs VW was losing money on all EV's it sold, plus they don't make as much on servicing them so is it any wonder they don't really want to sell them to us. I think Tesla make money on theirs, as do Porsche which is not surprising given the prices of them. Battery production costs are going through the floor though so it will prove harder and harder for legacy to keep selling ICE cars even if they want to.
SMEE, you're a fun guy. You rattle off ALL of the features of these amazing vehicles like they taught them to you in grade school. I know you want to keep it light, quick, & breezy. Today, you did us a public service. There is a big business side to these higher end & super cars.
In Canada if I bought a $170,000 car and “ I tried to write it off to my business or corporation”, I am pretty sure that my accountant would tell me that I can only write off a “reasonable amount of money” in keeping with what an average person would spend on a car. It surprises me that Britain is any different. Great video and channel. RS. Canada
@@fatdoi003 Get rid of the government leverages the rest of us are forced to pay, for the sake of the EV industry and its patron, and patrons' costs skyrocket.
While it makes sense why you sold it, I miss the GTR Roadster the most, it was just plain cool. I also loved the idea of you collecting all the Black Series cars eventually.
Are Governments really in a position to tell a company what new products it can make and sell, and then fine a company if they continue making their old products???🤷♂️ Did someone ask the Govts to do that??? That seems wrong to me
They've always done that. Just look at leaded petrol cars, cars without catalytic converters etc etc. People seem to forget they've already banned the sale of many types of cars and I don't remember that many people complaining at the time.
I've owned an EV for three years now. 95% of my charging is done at home while I sleep. It has a range of over 300 miles (far more than I ever do without taking a break) and when I stop at a rapid charger it goes to 80% in the time it takes me to have a pee and a coffee, a little longer if I need 100%. It's very fast, clean and doesn't stink like a diesel. Because I charge at home, it's far cheaper to run than an equivalent petrol. I'll be sticking with EV's for my next car. If you're stupid enough to spend £160k on a Taycan when you haven't even got a home charger, you deserve what you get.
EVs only make sense at the more affordable end of the market, tesla have nailed it tbh, pump out tons of identical cars with zero individuality, sell at the same price, save money on fit and finish because you can forgive that if the actual product works, EVs are literally white goods
Hyundai Ioniq 5 N owners laugh at your comment. The refreshed Model 3 Oerformance is another sports car bargain. Shmee buys petrol cars because supercar makers haven't figured out how to make a £300,000 EV that's significantly better. But the Chinese are figuring it out, and for only £150,000.
I always feel the amazing altruism those that buy new cars have. They will happily throw away half the car's value or more, so that I can buy the same car for something affordable, keep up the great work 😊
My model Y is the perfect commuter, 85 miles a day, charge at home, $0.09 per Kw so it’s very economical, and after two years I have had 0 issues. I use my GT4 on the weekends.
sus. in los angeles elecrricity = $0.40 / kw....after a month you will be pushed into 3 levdl high tier useage = $0.65 /kw...REALITY, EV is the elite killing ice car freedom fir caveman type living
Maybe I'm speaking as someone that spend way too much time on the computer when I was younger but I thought this was common knowledge. There was a time where a DVD player cost $1,000 when it came out. Now you can get one for $15 at Walmart. Electric cars are tech. That doesn't mean I don't like them or that they aren't fun but yes they're going to depreciate quickly as all technology does. They are supposed to. That's why you don't buy tech brand new. You get it second hand. Every year Samsung puts out a new flagship phone for a 1200 and then a month later it's discounted to 800. Doesn't matter if it's a rimac or a Porsche.... It will follow that same principle always.
@@skandiaart exactly Kia is putting out right now a EV3 that'll be $34k. Just three years ago that car would be 60k. That's how it's supposed to be. Prices are supposed to fall once the technology becomes ubiquitous.
All EVs are suffering the same problem... not only the Porsche Taycan. The market still prefer the combustion OR hybrid engines. There's no such lie with the 'future' of EVs.
Depreciation aside. The Taycan is an excellent car. Certainly wouldn't want £100k depreciation though. The biggest worry is that the new model is so much better in terms of range than the older one even though its still only 4 years old.
Some special edition rare cars and desirable classic cars ARE investments if kept in perfect condition with very low mileage. However, this is a hobby for wealthy individuals that have a climate controlled garage and can afford the initial price and maintenance of a specific car that does appreciate.
@@pikachusolu1606 Keeping a 1969 mustang 55 years in showroom condition in a bubble would cost more than the car costs. They're not even that expensive lol Putting that money in S&P 500 would be a solid $700k with no running costs or storage costs.
@@usergt3960 just like Ferrari, to get GT Porsche's you need to have that brand loyalty. Ferrari have opened up to shmee while Porsche didn't really. No allocations given. That's all.
WTF That is just slightly more depreciation over 4 Years than an ICE Equivalent. The problem is 4 Years is horrible time to sell a luxury daily driver car regardless of EV or ICE.
@@alanthomson1227that’s a 911 though my guy! I don’t even need to explain this! That is an iconic line of cars and one of few cars that really don’t depreciate.
@@alanthomson1227a 911 is not a luxury daily lol this depreciation is comparable to an S Class, Audi A8, BMW 7 Series. Those all fall off a cliff with depreciation.
The Norwegian market for EVs is not going well anylonger. The subsidies are almost all removed. The problem is there are not a lot new petrol and diesel cars available at the dealers. The result is that people look for used petrol and dieselcars and the prices has gonne up. EVs value has crashed. Even in Norway EVs are not wanted without huge subsidies.
speaking as an older person, i was thinking about how the thought of fkd turbos on hatchbacks in the eighties was a preclusion to buying one due to the costs involved in fixing a turbo. now, we have a similar fear about batteries because of the costs. as we know, turbos are not scary costs to fix now...i wonder if cheaper battery costs will follow as the tech costs lower.
Costs have been coming down for years and are now going through the floor. In China a VW ID3 is already only £12,000, I think this might be the real reason for the US's tariffs.
His Senna is depriciated because everyone knows it has accident history. But uploading the Hypercar accident video, he gains huge hits and new subscribers on UA-cam. So afterall, he didn't lose at all. BTW Shmee started from just avarage super car spotter to a UA-cam star by buying Aventador accident video. Regardless Shmee is always wins!
I enjoy older, heavily depreciated premium and sports cars with proper engines, which is why I’ve had almost forty of them in the last twenty years, mostly Mercedes. When I look at these newer sports cars like most McLaren, I feel sorry for the guys’ insecurities and extreme depreciation, often funded by finance. I would never touch any car from the last ten or fifteen years and I’d never spend more than £10-20k on any older car used as a daily driver. That budget still covers the C63 E55/63 and many V8 or even V12 German premiums or the exotics. An A8 or CLS/S-Class or an SL at £5-15k could almost match the specs of the sort of cars people get themselves into hideous debt for. They are a lot more comfortable and reliable, too. Without insecurities and desperately feeding their ego, so many people could get decent cars well within their means and focus on what is more important in life. Motoring and being able to travel across continents for very little is a blessing. What is happening to the industry and generally, in the world economy and governance is a dark, intentionally destructive rearrangement of resources and industries, with civil liberties heavily affected. They don’t want us to drive anything, anywhere and EVs are just a vehicle to achieve this. Hard times are coming. It’s time to reflect and seek more meaning in life.
Mate you are so mis informed. 6.9p per kw hour equals a fill up for £10. With Tesla no servicing cost or road tax currently. Just switched out of two ICE cars, both due £600 road tax both costing about £180 per month in petrol and the 718 due a first service, guessing c 750 porsche price Public charging ups the kw hour cost to c 31p on the supercharger network. No where near the figures you stated. For your use case you made a poor choice both in choice of type of EV and your location. For anyone who can charge at home of use the public network it’s significantly cheaper. Given the readjustment of the market in January this year depreciation on a new EV is now comparable to ICE You perhaps have been a little cocooned in your own ££££ use case to really understand the market
He was clear that the figures we was quoting were for public charging not at home. His public charging will not be based on Tesla supercharger. The most common network used by non tesla is instavolt which as he correctly stated is 85p. As of recently non tesla can use Tesla superchargers but not at 31p. I am a Tesla owner, love it. Home charge for 7p it's a dream. Supercharger network is awesome. Non tesla experience with no home charging would be as he describes it rubbish
@@mattwebb5532 the issue is he is generalising and making a statement about ev’s based on owning a high end car without access to a reasonably priced charger network. It’s an edge case
Brillant. Absolutely brillant general overview, thought input and perspective on so many relevant topics around EVs (without putting on the pink glasses). It´s flabbergasting that neither politicians nor car makers were able to see even just half of this beforehand. Or they just ignored rational analysis. Straight headed into idiocracy. Just let the market forces decide. There sure is room and demand for a 30% market share of EVs, the same as a 30% wind and solar electricity production share is feasible and reasonable. Why does everybody seem so hypnotized by "100%-targets" as a kind of wonder-cure for everything nowadays? Thank You Shmee, this was great!
In Norway the Taycan is not depreciating that much. 2020 models are still selling around 110K€. A new Taycan GT with the 1000 ish horsepower is still selling at 300k€.
The EU is fucked up, telling people to buy EVs when the infrastructure isn't even there. People should vote and get rid of the government officials that made of these ridiculous rules.
I bought one 5 years ago and the infrastructure wasn't that bad then, today its significantly better and getting even better all the time. I'm not keen on banning things, but given that diesels are carcinogenic I think there might be a good case for getting rid of even the ones currently on the road. As for petrol cars I think EV's will soon make them redundant. This is already happening in China were a new VW ID3 is about £12,000, think what that would do to western markets.
Part of the reason for depreciation is also how quickly the technology is evolving, look at the capabilities of the latest version of the Taycan vs the original, look at the cost curve of lithium ion batteries. But the thing is that this is likely to bleed over to ALL cars - as EV's develop rapidly where is the market going to be for old fashioned petrol-burning cars that still work in the same way as 20 years ago? They will also look obsolete. So the disruption to the market will end up making all cars depreciate in value more quickly than they used to IMO, that's just a consequence of this transition..
I know, right? The whole discussion is a haybale full of stupid. You buy a car to drive it. That's all. I DGAF if my car depreciates. It's not going to another owner until it's been used up, anyway.
This was a really interesting video. I have learned more about EVs from your Taycan videos than anything else. It just showed how far away we are from mass adoption of EVs. The governments are saying just a few years, but it is more like 20yrs before we get close to everyone driving an EV. I think they will just give up before that and realize it won't work in mass
Going on 125,000 km with 2022 Tesla 3 LFP. So far I save over $8,000/year. The car will have paid for itself on savings alone in about 6 years. Btw only down 14km range at 100%, really the best daily driver I’ve ever owned.
@@rjbiker66 No, I'm in sales and travel 40,000 km / year for work, the rest is my 3 teenage children and my wife. We also have a second model 3 same year, now with 50,000 km. We go skiing every weekend in the winter and other activities in the summer.
Taycan’s also have all the huge tech subscription costs once the car is 3 years old too which second hand owners have to pick up. The current Auto Trader prices are what dealers are asking, they would accept less and also you’d get much much less as a private seller or as a trade in and would be losing even more. Tim, well done for getting out when you did!
Don’t want to not pick but… You get 3 miles per kWh with Taycan which gets you close to 6 for £1.5 which is better than your quoted 4 miles on Ferrari. Besides its location and charger specific, .80p is higher tariff that BP is charging for their fast chargers but there are plenty of cheaper ones - including if you subscribe with them you get 20% off. One point stands though - your electricity will be always cheaper, much cheaper. As to used car price - taycan wasn’t worth 160k to start with - just because they ask that much doesn’t mean it does. The electric car prices need to come down as this is the biggest issue holding people back. I’m not going pay 200-300 more on lease over ICE if I’m not even gonna save that much monthly on running it. Simple math. People, especially these days, look at that first and foremost.
@@Shmee150 had a look on Taycan owner forum, as was surprised by your figure, and lowest provided was 3. But it can wary of course depending on driving style. As said economically they only make sense when: 1. You charge at home, better yet if you have special cheap night tariff 2. You drive a lot - absolute min 10k a year Taycan isn’t economical choice, never was, it’s a Porsche that performs like a super car and that’s how they priced it. But obviously contrary to ICE models - battery doesn’t last forever and still is very very costly to replace. Personally- it seems to be one of the EVs done right that I would love to own, money no object. But looking at used car market - 4 years old - you can get a really nice car for 60k.
Okay, I’ve always scratched my head about the obsession around the kislux book totes and their practicality, but this one is adorable!! Congratulations
pure ignorance as expected. EV's offer significant savings over ICE cars in most cases not to mention other factors that are very positive for the owner. I know several people who are saving so much with their purchase of new Model 3's that their monthly payment to own is less than their equivalent gas bill was on their car so essentially the car is free to them plus that model does not depreciate as much as a Mercedes E class, BMW 5 series which is their direct competitor. Your lame analogy of it being a "phone" is just retarded but you know that
EVs are the perfect choice for people who don't like driving, never do long journeys, always return to their house with private drive and personal charging point every evening, have money to burn on ridiculously priced and rapidly depreciating EVs and who don't care if their purchase is appalling for the planet because it is written off or scrapped very quickly due to dead battery (whether due to minor accident damage or loss of charge, the car is scrapped because it is not worth buying and fitting a new battery).
Maybe from Shmee's confused supercar owner vantage point. If you have access to a plug at home or work, buying a quick quiet cheap to operate EV that's much better for the environment is a no-brainer.
So if EV’s are so bad, how come the largest car market on earth (China) is 50% EV now ?? The Western car makers dragged their feet for so long and then offered us cars that were overpriced.
There is a certain irony here with China the most polluting country in the world by far (with God knows how many thousands of coal fired power stations) producing the most so called ‘green/electric cars’ in the world.
Because it is very hard to register a car if it is not EV in china. So if the emperor wants things to be in a certain way, the people have no choice... So, I'd say, enjoy your rights and privileges...
Because here in the states the oil co's have masive influence in politics as well as media. The highly iognorant and easily mentally manipulated cannot afford EV's therefore in order to protect their fragile ego's they latch onto the stupid rumors such as: The catch fire - completely wrong of course go look at the number of fires on EV's versus ICE cars EV's are a tiny fraction EV's completely lose their range in the cold - BS. Tesla's lose only a very small percentage of their range "Range anxiety" - Lucids can get >500 mile range, Tesla's usually get >#20 miles range which is comperable to most ICe cars, Teslas and most other EV's warn drivers of range constantly and map where the neaarest chargers are plus there is only a msall percentage of people who drive over 300 miles per trip. In most parts of the US chargers are plentiful, easy to operaate, cheap, and pretty quick to get the car to 80% Nobody wants an EV - EV's are by far the largest growing and fastest growing segment of the car industry. Again pure ignorance "Sales have slowed/those who wanted one bought one - ugh! Of course sales have slowed as a percentage. IF 100K pople bought one in 2017 and 10K bought one the year prior that is 1000% growth. 2022 they sold 918K EV's in the US then in 2023 1.4MM that is an increase of 60% so rate of growth slowed a it had to otherwise they'd have to sell 9MM to keep the rate of growth which was impossible but keep in mind that is still 500K more EV's year over year which is amazing. EV's cannot sustain due to the electrical grids - pure 100% stupidity. Yes they can, they in no way put a high bruden on the grid. The vast majority are charged late at night/early morning when electricity is chepa and readily available you can program when your car charges so as to minimize it's cost to you. EV's weigh so much they ruin the roads - more completel ignorance. Most EV's are within 5% of their ICE counterparts such as BMW, Mercedes, even Toyota Camry or Accord go look it up.
The allure of EVs is fading quickly as more owners live with them and realize what they are compared to what they had before or could have bought instead.
Good report. We are not in the same league but we wanted to try an electric car alongside our ICE cars, of which we have four. We eventually went for a 2020 BMW i3S. Having recently installed solar at our home we can often charge the car from 30% for free but even on a low night tariff that cost is sub £3.00. We use it all the time and seldom drive our ICE cars, however, I think what is having a dramatic effect on EV sales is the ridiculous cost of outside charging. As you mention, costs can be up to £0.80p per kwh which is verging on daylight robbery. I think the Government should step in and set limits to electricity costs and bring them more in-line with domestic rates.
I was an electric car sceptic. I've now had a Model 3 Performance for 3 years and knocked up 75,000 miles. Infrequently have to charge anywhere but home, save around £8k per annum in fuel. Lovely car, I lease so don't care about depreciation. It does the job very well.....dare I say better and much cheaper than previous BMW's, Audi's and a Toyota!
I keep leasing, my last 4 cars all have been leased. Most of them with $0.00 down and 12,000 miles/year limit. At the end just bring it in and get new one, simple Do Not buy depreciation asset.
Customers DO buy electric cars, just not the shitty overpriced ones that legacy manufacturers make. They are getting utterly obliterated by the competition, and deservedly so. Sales are in fact skyrocketing, not falling as the oil shill media would have you believe. But that truth is a hard, if not impossible, pill to swallow for enthusiasts like Schmee and that realization may not come until it literally hits him in the face a few years from now as bankruptcies of all his favorite car companies start to accelerate.
Porsche Budapest hasn't sold 1 Taycan facelift since their launch. Tesla sales are visible on the stock market and they have been decreasing, not skyrocketing. I have two EVs and love them (Tesla Model 3 and SH Taycan GTS) however the reality is that they deprecate really fast compared to my 911 Turbo. And they are not for everyone, if you live in a city they are great and really comfortable, but the reality is that since the tech is so new, newer models make older models deprecate really fast.
@@CandidSeagull You read wrong stuff, the average battery degrades less than 2% per year... you'd know this is you sought information not affirmation of your obvious cognitive biases
@@slowery43 You need to read more more varied sources as no way does the battery in the Taycan degrade less than 2% per year. I base this on the numerous owner / garage reports I read. Bet you own a Taycan and struggling to sell.
What an amazing video, your 100% correct with all that money spent on Ev, how efficient could the manufacturers have made petrol engines by now. You know full well the government is going to start heavily taxing electric vehicles soon, and if there is no other option, drives will have to pay it or use public transport 😡
Bought my 2020 taycan turbo s last may at a «bargain» would probably have to bite a 18k £ loss right now if I solid it! But I love it , its a damn good car ~ launch controll makes grown men giggle! As a car guy you must have a ice car or two to Get the joy of sound and smell aswell-
No, your biggest issue is believing it's a much bigger problem than it actually is...... The NTSB in the US, recorded 180'000 ICE car fires during 2022. Tesla's own statistics show that out of around 6 million Teslas so far produced over 11 years, only around 250 have caught fire Worldwide..... As a comparison, around 300 petrol and diesel cars catch fire *each day* in the UK....
@@Brian-om2hhthat’s BS. ICE fires are easily extinguished AND they don’t start by themselves. EVs can run away thermally ignite and take down a whole,e structure because they are very difficult to put out. We’ve had three EV fires in our town this year with not one reported gas fire. I’m an engineer and worked with lipo batteries in my business we had 11 fires start while charging or just by themselves. ICE cars require HEAT to ignite. But they can’t create their own heat. EVs and lithium batteries can create their own heat and start fires by themselves. I’m SURE Teslas numbers don’t have ANY bias in their own numbers. Sheesh
I bought my Taycan second hand and extended the Porsche warranty, its an amazing car (my 3rd and best Porsche) The home charger and overnight tariff is the key to owning it at a reasonable cost
There is a simple answer to why?? If EVs were as good as ICE cars they'd sell, no subsidies, no tax breaks required. They only work for a specific market, home owner with off road parking and a home charger, and change their cars often, say every 3 years. So the customers that can afford them, the wealthy. And that isn't typical of the average motorists. Great video Tim
I agree. The market for EV is really niche. As you listed, you need to be able to plug it in at home, commute from A to B within the range, and not care about depreciation (which will lead to people leasing a lot). They really are like iPhones, disposable after 2-3 years and that's it.
Imagine fretting about buying enough Porsches to earn an invitation to buy a GT2/3 / RS… when there are dozens for sale on Autotrader every week. That bubble’s about to burst…
Loved this video, explaining the current EV market conditions and the various factors that affect the demand for EV, in general. So essentially, government mandates have been put in place to tax those who currently own a higher end EV to cut their losses, which originated from the actual drop in demand for those higher end EVs, and also regular model EVs, as well. The case of passing over the loss to the consumer because demand for a particular product “vehicle type” has declined. Glad to see you were able to make sound decisions to cut your actual loss on some of these EV’s, Tim. Car ownership and collections truly are another type of investment for those that can afford it. The economics behind a car collection as diverse as your portfolio, is very interesting, to say the least. Insightful and entertaining, you should do more uploads focusing on the background details/financials of owning a supercar collection. Have a great weekend, Tim. 🏎️🍾🏎️
I'm not normally a fan of Shmee, I find his presentation style a tad too frothy, but this video was expertly delivered. Informative, fact-based, evidence-backed - that I like.
People have woken up to some basic facts (1) China is building coal fired power stations at a significant rate e.g. 2 per week were permitted in 2022 and an additional 47.4GW of coal power capacity came online in 2023. This increase accounted for two-thirds of the global rise in operating coal power capacity, which climbed 2% to 2,130GW. China's 70.2GW of construction that was underway in 2023 represents 19-times more than the rest of the world's 3.7GW. (2) EVs simply don't work for a lot of people. (3) Norway is not the exemplar, its unique, it is a tiny country in terms of population with a vast amount of hydro-electricity on tap. (4) EVs in Europe are more about relationships to energy sovereignty than environmental considerations e.g. Russia turning off the gas supply. (5) People are now aware we live in a goldilocks interglacial period caused by natural global warming and cooling cycles.
Info packed vid for sure. At 57 years old Ive only ever owned, Vauxhall Viva, Holden Premier, Honda CM200 motorcycle, Ford Sierra Station wagon and the last two of which I still own, a 1990 300ZX Fairlady TT and a 2008 Mini Cooper Clubman. None of which I purchased with the plan to flip for a profit. In fact those last two I hope to own for the rest of my days. One day I'll probably get an EV but its likely to be my last purchase of a car. Maybe another bike. I thank all the early adopters of EV's to help iron out the kinks ready for my turn.
I'm glad to finally see a car influencer explain what's going on with the EV market and the huge costs, depreciation and loss they involve. Nobody is going to bring a Tesla to a classic car meet in 20 years time. It will have already been crushed by the junk yard
Great content Tim. As you say the problem is not EVs, if you commute and charge at home it’s a no brainer, I went from a Porsche 911 to a KIA EV6 GT and not only is it way cheaper to run, it’s actually a better car for that use. The problem is when Governments try to mess with markets, that never ends well😅 EVs need to find their place organically as they will given time. Currently I daily an EV6 GT and keep an NSX, BAC Mono and 997 for the weekend, it’s the perfect combination!
The UK taxpayer shouldn't be subsidising rich business people who spend £100k on an EV!
@@alanzyoutube they’re usually leased through they’re business anyway
Totally agree but who would buy an EV which is so over priced ?
@@adamwhite9304its because of the benefit in kind discount. If your a director and already max out your dividend payout and further money you take is 40% tax. So getting a taycan on personal finance is like giving yourself an 2k payrise a month without any tax and reduction on corporation tax, it makes it insanely cheap if you have a successful business. You can't really buy them through your business unless you can justify why your business needs it.
@@adamwhite9304generally they are not as you would need to justify to HMRC why you need a personal car bought for you through the buisness. A lot are leased personally due to the massive benefit in kind discount which essentially makes it 40% cheaper if you have a successful business and you've already maxed out your dividend pay. Also paying yourself more reduces corporation tax so saves you another 19% there
This is also why there are tons of them about and why no one wants to buy them second hand as the BIC discount is all but gone after the 3 year lease is up
Imagine the depreciation when owners find out their Taycan Turbo S has no turbo.😢
It's alright, they didn't understand the brand anyway 😉
😂😂😂
was just about to google why it has a turbo badge lol
😂😂😂😂😂😂😂
Maybe they're referring to the fan in the ventilation system?
I bought a used Tacan 4S this past year. It had already lost 50% of its original value so it ended up being a good deal. For the cost it was the nicest and best performing car I could get. And the sports car I traded in was costing me $450 a month in gas. Here in Texas the average cost per KW is significantly lower than mentioned in this video. I have only used public chargers a hand full of times when on a road trip. So far it is one of the best cars I have ever owned.
Home charging overnight is circa 7 pence KWh in the UK (9.2 cents)
I brought a 6 month old Taycan Gts sports tourismo with 2.700km for almost half the price. It was rear ended while parked with no structural damage, repaired at a Porsche dealer. Best purchase ever
that never happened.
How much did it cost you?
My Turbo S got hit -- complete write off... $200k. You are lucky dude... I had to fight for 6 months with insurance to get my write-down... Stupid to buy one... Never again,
Politicians decided that we were all going to be electric with absolutely no plan, and no understanding of the environmental impact, market, and support network. The whole thing is a disaster.
Would absolutely love to see you try and do a better job
@@FerociousPancake888it's not hard actually, don't shove them down people's throats
It's not going to end well. We need to develop our combustion engines it's moving to EURO 7, which is clean. Meanwhile, many developed countries build more coal mines...!
Yes, he said in the video that EVs didn't sell as predicted. Well they certainly sold I predicted.
They have a plan alright. The plan is to drive us all off the rad.
EVs are iPhones, and no one wants the last gen model
Really any piece of technology
That's why you always buy used.., never new
To be fair I don't want an iPhone at all.
@@RYTF5 one plus is a good brand!
It's not just about the newest version, if you have an EV that's been used for a few years, its battery health will degrade meaning it achieves less range. You could potentially drive a ICE car for 100,000+ miles with very little maintenance, not the case with EVs. We'll all be "upgrading" and sending our old cars to landfill more often.
Its not just EVs though. Look at the price of a new Panamera Turbo S and the price of a 4 year old used one. Luxury coupes and limousines depreciate heavy in general, that's not just an ev thing.
Surely it might be a little more on the taycan than on the Panamera, but it's not like a Panamera holds its value a lot better
Well Panamera’s have actually gone up in value in my country as people are switching to hybrids right now.
The taycan is an outlier though, for many reasons... The depreciation is eye-watering
It’s not “a little more” it’s much more.
Even a "sensible" car such as a new VW Golf 1.5 Tsi will only be worth 48% of it's new cost after 3 years/36k miles. Depreciation isn't just an EV "thing"
@@rolfanderson3925 but then so are the sales compared to the Taycan.
So... it depreciates like Porsche's other sedan, the Panamera.
Collectors want old 911s. Driving enthusiasts want used 911s. That counters depreciation. But nobody wants a used Porsche sedan. They are not collectable like the 911, nor are they "pure" sports cars like the 911. The people who buy Porsche sedans are doctors and lawyers who are only want to lease new ones.
Exactly he used the depreciation at 4 years. Which is not much more than a Panamera gas guzzler.
The central planners don't want you to switch to an ev, they don't want regular people to have a car at all. I'm surprised almost no one sees this coming..
And if you have one, they want to track you 100% and have control over where you go
why would they want this? thats an entire industry and thousands of jobs all over the EU paying billions in tax, whats the replacement?
Incredible how intensive Tim is still going into cars everyday. He must be one of the hardest and consistent UA-camrs period. I love watching The Stradman, who mostly films in front of his house - how it must be like for Tim to manage time, flights, trains for all car presentations he attends - one day someone should make a movie or at least a documentary about him and the behind the scenes that we don't see. Hardest working man in the room for me. Greeting from Germany, Dirksón!
Thanks for the kind words and support. There are so many interesting factors about all of this that would be really fascinating to share one day.
I have a Tesla Model S with 187,000 miles on it. It has original battery and 99% of its charging through its whole life has been done at home. I’ll tell people all the time if you don’t have a garage please do not buy an electric car.
@BryceLovesTech
The mileage isn't the main or biggest driver of battery life, as much as age & where it operates over its life span.
Hell, some people put 180,000 miles on a vehicle they use for work within 5/6 years. The average driver in the USA drives 15,000 miles a year. If you drive a lot 20,000 a year is nothing when you use it for work.
Plus, What is the life expectancy of an EV battery?
between eight and 12 years
Plan on a service life of between eight and 12 years if your EV is regularly used in more extreme conditions. These are states with severe summers like desert states AZ part of California or winters, like they get in Chicago, or the Great Lakes area of the United States
Minimize the batteries at 100% state of charge
Electric cars already have installed with a battery management system that avoids them being charged and discharged at the extreme state of charge. Keeping the state of battery charge, from 0 percent to 100 percent , also improves the performance of the battery life of your vehicle. Even though a full charge will give you the maximum operating time, it is never a good idea for the overall lifespan of your battery.
Ev batteries like to be used & doing so extends the cars battery lifespan. Your vehicles batteries doesn't like fast charging or sitting on 100% charging.
Control the optimal battery state of charge during long storage
EVs that are parked or stored with an empty or full battery also degrades the battery.
That's the last place any sane human should keep an electric car.
@@mini_steve Its not that its an electric car, its the Li-ion batteries - the Asbestos of the 21st century. In the next few years we will have much lighter, safer batteries with less toxic metals. I can see the government saying "All Lithium battery cars must be scrapped by 2040" :-)
EVs burn about 10 times less often than ice cars. And yes, that's corrected by their numbers. Educate yourselfes.
Charging: have a slow charger where the car sits most of the time or a fast charger on your daily commute. You'll be fine.
So finally he admits he's been buying the Ferraris for allocation purposes.
It was obvious. Relax.
Depreciation isn't bad it's Good for people buying second hand
Yh only if they ain’t electric
@@teezyfrmda5th357 ehh yeah until the aftermarket comes with better more affordable spare parts
@@ashishpatel350 you waiting for Chinese battery’s 😂
@@teezyfrmda5th357 lol well who do you think makes the batteries
@@ashishpatel350 sorry to burst your bubble but a South Korean company makes the battery’s for the taycan 😂😂😂
I'm afraid the bit missing here is that depreciation on large saloons has always been catastrophic. Just look at the residuals of a 2020 7 series or S-class. It's been one of the legends of the car industry for decades - buy a 4 year old luxury saloon, wether petrol, diesel or EV.
I knew someone with industry connections who bought a 6 year S class for silly money, had it restored basically to new condition, and enjoyed telling people it has cost as much as a new 1.6 litre Escort. He put 60 000 trouble free miles on it in 18 months, paid for by his company.
This is exactly what I just replied, before seeing this answer.
It’s not missing he says that at the end of the video…
His Senna proves the point
This is a very complicated subject, where practically everyone's usage of their vehicle is different, so Mr Shmee's point about weighing up all the factors around electric car ownership is absolutely crucial. We have a home charger, which is seldom used because my wife's Kia EV6 gets charged FOC at her office via mainly their solar panels. Her previous employer offered the same. The car has been 100% reliable, which has a lot to do with the huge reduction in complexity over an ICE car. It's a real pleasure to drive on normal roads, i.e. not those quiet country lanes you see UA-cam car reviewers using.
On the odd occasion we do a journey over 250 miles, being early birds we leave home early & plan where we'll stop for a fast charge, the car charging to 80% in eighteen minutes. A real no-brainer. Regarding battery life, as another poster mentions with a bit of care it'll last for many years, and even if it dropped to half its capacity the car would still be perfectly fine for my wife's use.
I enjoy a drive from Sydney to Brisbane or Melbourne once a year and I am not sure any EV could would make it.
@@billhesford6098 That's just over 900 km. A long range RWD Model 3 can do 700km on a charge, so you'll need one quick supercharger stop, and Tesla alone has a ton of DC fast chargers along the way
The Taycan depreciations and the fact that people aren't really buying electric cars (the vast majority on the road today are from the electric car schemes and not true ownership) is the result of government meddling in the market.
It's entirely appropriate for governments to "meddle in the market" to reduce the massive worsening harms from human greenhouse gas emissions. Most economists agree the sane way to do it is to tax fossil fuels for the harms they cause when burned, but many politicians are allergic to the 'T' word and are in thrall to fossil fuel interests.
Of course people are really buying EVs.
@@skierpage Though there really is no compelling evidence to support the whole 'greenhouse gas emissions'... so EV's are the solution position...
Intervention should of been gaz guzzler taxes fuel efficient ice is the answer short term
@skierpage the vast majority of EVs are owned by company car drivers who only have them because of tax break. As soon as that benefit is removed, 90% ow owners couldn't afford them
Taycans are being bought because of allocations for Rs models, then being sold in big quantities, ruins out market. Basicly Porsche made them to be cheap.
I couldn't disagree with you more Tim on the energy cost of operating my 2022 Taycan Cross Turismo. I charge from home and average around 3.4 miles per kWh and pay 0.11 per kWh here in the States. Therefore a 60 mile round trip to Columbus Ohio from where I live costs me $1.94. I also get 3 years free charging at any Electrify America charging station and free charging at my Porsche dealership. Since I use the car primarily within a 100 mile radius from my home, I rarely have to avail myself to those services. The above plus a $7,000.00 tax credit makes it very cost effective for me, along with the fact that depreciation only comes into play if you sell the car, which I love and have no plans to do so. Love your channel, btw...
This is a UK channel 🤔
@@martinaston1715same in the UK. I pay 8p/kWh on overnight charging. Cost per mile is about 20-25% of the equivalent ICE vehicle. It’s public charging that is crazy expensive. Simple rule - don’t buy an electric car if you can’t charge at home. This is the real issue.
@@nixer65 same, 7p kwh. if you can charge at home and very rarely exceed the range its a complete no brainer.
@@ultra1obscene Or get solar panels and Lithium batteries and get charging for free - Like I do! I will likely not sell my electric car ( not a Porsche) and drive it until it is totally free effectively via maintenance savings (compared to thermic cars) Not much maintenance with electric motors!
@@ruf930porsche thats the end goal, i got the zappi charger with that in mind.
Talking about the devastating depreciation on the Taycan is unfair on EV's.
Yes its a huge loss but its also a huge car. What about the devastating depreciation on stuff like
the Audi A8, Merc S class, Bmw 7 series, Maserati Quatroporte and big fat Jaaags etc, they always were down
50% by the 3yr mark.
Yep, all cars of the similar type, no matter what propuls them, are not a good investment. You'll have other reasons to buy one.
Sure... but no government is mandating purchase of those cars. Get it?
My i5 is calculated to have 55% of its value left after 3years, 150k km (for the lease).
Exactly.
let's face it. Quatroporte and jags aren't known for their sturdyness XD
"Customers are not buying new EV cars", yet they keep voting for politicians who are forcing them to buy EVs
Who can you vote for that’s not pro-EV?
Because it's way down on our list of priorities. I think about EVs almost never.
We'll both be long dead before petrol cars leave the road.
@@axi0maticReform. Simple they are net zero antagonists
Electric car sales are up year over year. They just aren’t increasing as fast as the did a few years ago.
@@tomtd Shhhh! the adults are talking!
Thanks for an insightful analysis. As you pointed out the experience of running an EV depends very much on where you live, your typical pattern of car use and whether you are an enthusiast - and therefore inclined to change your vehicles regularly. Every potential buyer is on a spectrum of EV suitability. There are people with negative experiences. But let me illustrate what it is like to be in a near-ideal situation. We live in sub-tropical Australia, have 12 kW of reliable solar and 80% of our EV charging is electricity that we generate. The remainder is supercharger fees at 70 cents (36 pence)/ kWh. Our 2019 Tesla Model 3 P- has covered 120,000, still has a reliable 440 km of range and has never been ‘serviced’. We are on our third set of tyres, have replaced the 12-volt battery and wiper blades. That is all - literally. The brake pads are still in good shape. The car is a little scruffy after 5 years of constant use, and has depreciated a lot. But I don’t care. I am not interested in selling. The car is comfortable, safe, quick and very cheap transport.
Love the Modern Classic Videos
Need a 458 Speciale in the garage Tim
That would be great, but also another Ferrari on top of the ones already coming might be even more overkill
@@Shmee150 your ferrari collection need either 458 Speciale or a 812 Competizione
Yup, was gonna just say that. One of the best appreciating Supercars. When is Tim going to get one or is he waiting for the prices to rise more. 😂
That won't help him with trying to get an allocation on the next major limited model and that appears to be the goal.
@@Shmee150not overkill considering Speciale is WAY cooler than any modern Ferrari
Good evening Tim. Could you please tell us the story of your near big purchase on the beginning of the year? Very curious about what car was about and what did you ending up not buying the car. Thank you
I'd really, really, really, really, really like to tell that soon. I promise if I can find a way to do it, I'm going to do it.
@@Shmee150 thanks!
In which video did he tell this story. I've been trying to find it, but no lock so far.
Thanks, totally put me off ever having electric cars.
I am putting together my dream fossil fuelled garage that will see me through the next twenty years.
Interesting he references Porsche re buying stuff you don’t want to get the stuff you do, yet he said he wanted half a dozen Ferraris I; an earlier video….
@@jeibizz00 curious? Read a book it’s better for your culture
Maybe the price of EVs are too high? It be interesting to know what the production costs difference is between an EV and ICE car.
When he bought that Taycan it was during the Car shortage era. The prices were absurd.
Took a lesson with a company that specializes in studying this. In the market actually, ev and ice cars parts prices are very similar. electric motor costs similar to Ice engine, electric converter to transmission etc, they are all similarly priced. Only difference is one takes 5 bucks to make a gas tank, one costs 10k more to make that "gas tank"
@@theJenkisushi This is completely incorrect. Electric vehicles cost 25% - 40% more than ICE vehicles. The main reason for this price difference is the battery required for electric vehicles.
@@white94rabbit forgot to add one word. Car parts. Do reread what I wrote and you'll understand what I mean. The 10k is the price of said "gas tank"
I bought my Model 3 in the UK five years ago and even then it was cheaper than the equivalent ICE car at the time.
But then if you look at China today and you can get the cheapest Model 3 for about £25,000 or a VW ID3 for £12,000. If we had those prices ICE cars would be history.
As for production costs VW was losing money on all EV's it sold, plus they don't make as much on servicing them so is it any wonder they don't really want to sell them to us. I think Tesla make money on theirs, as do Porsche which is not surprising given the prices of them. Battery production costs are going through the floor though so it will prove harder and harder for legacy to keep selling ICE cars even if they want to.
SMEE, you're a fun guy. You rattle off ALL of the features of these amazing vehicles like they taught them to you in grade school. I know you want to keep it light, quick, & breezy. Today, you did us a public service. There is a big business side to these higher end & super cars.
In Canada if I bought a $170,000 car and “ I tried to write it off to my business or corporation”, I am pretty sure that my accountant would tell me that I can only write off a “reasonable amount of money” in keeping with what an average person would spend on a car. It surprises me that Britain is any different. Great video and channel.
RS. Canada
"Let's be honest EVs are for rich people," Chris Harris
Cool. I’m rich and didn’t even know it.
@@vandit83 prove it
@@chrismurphy110 here, an EV costs similar to a Corolla
@@chrismurphy110 what, prove I’m rich?!
@@fatdoi003 Get rid of the government leverages the rest of us are forced to pay, for the sake of the EV industry and its patron, and patrons' costs skyrocket.
Hey Tim the 296 and Romas really went downhill.
296 is crazy.. i see one listet for 40% off sticker with just 200km.
@@marcoreut904 Where?
@@marcoreut904 Doubtful.
@@rustler08 Open your eyes then
@@Andy8x There’s one in Autotrader UK with less than 800 miles for 160K
While it makes sense why you sold it, I miss the GTR Roadster the most, it was just plain cool. I also loved the idea of you collecting all the Black Series cars eventually.
Are Governments really in a position to tell a company what new products it can make and sell, and then fine a company if they continue making their old products???🤷♂️
Did someone ask the Govts to do that???
That seems wrong to me
They've always done that. Just look at leaded petrol cars, cars without catalytic converters etc etc. People seem to forget they've already banned the sale of many types of cars and I don't remember that many people complaining at the time.
I've owned an EV for three years now. 95% of my charging is done at home while I sleep. It has a range of over 300 miles (far more than I ever do without taking a break) and when I stop at a rapid charger it goes to 80% in the time it takes me to have a pee and a coffee, a little longer if I need 100%. It's very fast, clean and doesn't stink like a diesel. Because I charge at home, it's far cheaper to run than an equivalent petrol. I'll be sticking with EV's for my next car. If you're stupid enough to spend £160k on a Taycan when you haven't even got a home charger, you deserve what you get.
Exactly.
100% sir
EVs are for losers
@@truefilter1651 Love a bit of irony.
EVs only make sense at the more affordable end of the market, tesla have nailed it tbh, pump out tons of identical cars with zero individuality, sell at the same price, save money on fit and finish because you can forgive that if the actual product works, EVs are literally white goods
Hyundai Ioniq 5 N owners laugh at your comment. The refreshed Model 3 Oerformance is another sports car bargain.
Shmee buys petrol cars because supercar makers haven't figured out how to make a £300,000 EV that's significantly better. But the Chinese are figuring it out, and for only £150,000.
good news for me who are looking for used taycans 😎
Really good news! Talked about that a fair chunk in this video too, and the current prices of different models
@@Shmee150 hi mate. im buying a car. would a used specced out Porsche taycan 4S cross turismo be a good purchase at £60k? its my first proper car.
Love my Taycan GTS 2 Years in faultless and I dont care about residuals as it has a guaranteed residual in the next 2 years when i give it back 🙂
Expensive rental car?
I always feel the amazing altruism those that buy new cars have. They will happily throw away half the car's value or more, so that I can buy the same car for something affordable, keep up the great work 😊
My model Y is the perfect commuter, 85 miles a day, charge at home, $0.09 per Kw so it’s very economical, and after two years I have had 0 issues. I use my GT4 on the weekends.
sus. in los angeles elecrricity = $0.40 / kw....after a month you will be pushed into 3 levdl high tier useage = $0.65 /kw...REALITY, EV is the elite killing ice car freedom fir caveman type living
Maybe I'm speaking as someone that spend way too much time on the computer when I was younger but I thought this was common knowledge. There was a time where a DVD player cost $1,000 when it came out. Now you can get one for $15 at Walmart. Electric cars are tech. That doesn't mean I don't like them or that they aren't fun but yes they're going to depreciate quickly as all technology does. They are supposed to.
That's why you don't buy tech brand new. You get it second hand.
Every year Samsung puts out a new flagship phone for a 1200 and then a month later it's discounted to 800. Doesn't matter if it's a rimac or a Porsche.... It will follow that same principle always.
this, evs are still developing massively so old cars are quickly outdated
@@skandiaart exactly Kia is putting out right now a EV3 that'll be $34k.
Just three years ago that car would be 60k.
That's how it's supposed to be. Prices are supposed to fall once the technology becomes ubiquitous.
@@TCrimson05t If you're paying $60k for a KIA, you're doing it wrong.
@@rustler08 the Kia EV9 3-row SUV for $56,395 and up is an excellent car that's won multiple awards including World Car of the Year.
That's an incorrect comparison. You aren't getting that 15 dollar dvd player used.
Your SF90 is stunning, Tim... Emotionally speaking, that car losing any money is a crime...
It's going to lose money because people really wanted the sf90 xx
Ahh Tim watch out for that nasty depreciation going around. I hear Ed Bolian is allergic to that stuff!
All EVs are suffering the same problem... not only the Porsche Taycan. The market still prefer the combustion OR hybrid engines. There's no such lie with the 'future' of EVs.
Depreciation aside. The Taycan is an excellent car. Certainly wouldn't want £100k depreciation though.
The biggest worry is that the new model is so much better in terms of range than the older one even though its still only 4 years old.
Idk who needs to hear this but cars are not investments.
Some special edition rare cars and desirable classic cars ARE investments if kept in perfect condition with very low mileage. However, this is a hobby for wealthy individuals that have a climate controlled garage and can afford the initial price and maintenance of a specific car that does appreciate.
they are not? why is 1969 mustang so expensive? dont make silly comments like this k
@@pikachusolu1606yeah, maybe 0,1% of cars are investments... rest is just depreciating assets.
@@pikachusolu1606 Keeping a 1969 mustang 55 years in showroom condition in a bubble would cost more than the car costs. They're not even that expensive lol
Putting that money in S&P 500 would be a solid $700k with no running costs or storage costs.
exactly. If you pay 200k USD on an electric car, it's on you. Of course it's gonna depreciate hard, no one said it wouldn't
You really need some Porsches in your collection Shmee! A 911 GT3 Touring would fit perfectly
Maybe there will be a story for another day about my lack of modern Porsches...
@@Shmee150 would be very interested to hear about your experience!
@@usergt3960 just like Ferrari, to get GT Porsche's you need to have that brand loyalty. Ferrari have opened up to shmee while Porsche didn't really. No allocations given. That's all.
@@firewaffle1 Well, you still need to buy some other cars i think, maybe he decided to close his experience with porsche and it ended there.
@@Lello75-ww7ib With Porsche dealers, even if you buy like 10 cars just to get a GT3RS, they can't even provide a confirmation for the allocation.
WTF That is just slightly more depreciation over 4 Years than an ICE Equivalent. The problem is 4 Years is horrible time to sell a luxury daily driver car regardless of EV or ICE.
Please tell me where to find a three year old 911 for the same price as a Taycan of that age ,
@@alanthomson1227that’s a 911 though my guy! I don’t even need to explain this! That is an iconic line of cars and one of few cars that really don’t depreciate.
@@alanthomson1227a 911 is not a luxury daily lol this depreciation is comparable to an S Class, Audi A8, BMW 7 Series. Those all fall off a cliff with depreciation.
@@alanthomson1227check a panamera 😂
@@fmsantoscar not a fan of Panamera though , too big for my needs but I do know it is a terrific car .
The Norwegian market for EVs is not going well anylonger. The subsidies are almost all removed. The problem is there are not a lot new petrol and diesel cars available at the dealers. The result is that people look for used petrol and dieselcars and the prices has gonne up. EVs value has crashed. Even in Norway EVs are not wanted without huge subsidies.
speaking as an older person, i was thinking about how the thought of fkd turbos on hatchbacks in the eighties was a preclusion to buying one due to the costs involved in fixing a turbo. now, we have a similar fear about batteries because of the costs. as we know, turbos are not scary costs to fix now...i wonder if cheaper battery costs will follow as the tech costs lower.
Costs have been coming down for years and are now going through the floor. In China a VW ID3 is already only £12,000, I think this might be the real reason for the US's tariffs.
His Senna is depriciated because everyone knows it has accident history. But uploading the Hypercar accident video, he gains huge hits and new subscribers on UA-cam. So afterall, he didn't lose at all. BTW Shmee started from just avarage super car spotter to a UA-cam star by buying Aventador accident video. Regardless Shmee is always wins!
I enjoy older, heavily depreciated premium and sports cars with proper engines, which is why I’ve had almost forty of them in the last twenty years, mostly Mercedes.
When I look at these newer sports cars like most McLaren, I feel sorry for the guys’ insecurities and extreme depreciation, often funded by finance. I would never touch any car from the last ten or fifteen years and I’d never spend more than £10-20k on any older car used as a daily driver. That budget still covers the C63 E55/63 and many V8 or even V12 German premiums or the exotics.
An A8 or CLS/S-Class or an SL at £5-15k could almost match the specs of the sort of cars people get themselves into hideous debt for. They are a lot more comfortable and reliable, too. Without insecurities and desperately feeding their ego, so many people could get decent cars well within their means and focus on what is more important in life.
Motoring and being able to travel across continents for very little is a blessing.
What is happening to the industry and generally, in the world economy and governance is a dark, intentionally destructive rearrangement of resources and industries, with civil liberties heavily affected. They don’t want us to drive anything, anywhere and EVs are just a vehicle to achieve this. Hard times are coming. It’s time to reflect and seek more meaning in life.
Mate you are so mis informed. 6.9p per kw hour equals a fill up for £10. With Tesla no servicing cost or road tax currently. Just switched out of two ICE cars, both due £600 road tax both costing about £180 per month in petrol and the 718 due a first service, guessing c 750 porsche price
Public charging ups the kw hour cost to c 31p on the supercharger network. No where near the figures you stated. For your use case you made a poor choice both in choice of type of EV and your location.
For anyone who can charge at home of use the public network it’s significantly cheaper.
Given the readjustment of the market in January this year depreciation on a new EV is now comparable to ICE
You perhaps have been a little cocooned in your own ££££ use case to really understand the market
Thank you, someone with actual facts about running an EV. Very disappointed that this guy is so far off the mark.
He was clear that the figures we was quoting were for public charging not at home. His public charging will not be based on Tesla supercharger. The most common network used by non tesla is instavolt which as he correctly stated is 85p. As of recently non tesla can use Tesla superchargers but not at 31p.
I am a Tesla owner, love it. Home charge for 7p it's a dream. Supercharger network is awesome. Non tesla experience with no home charging would be as he describes it rubbish
@@mattwebb5532 the issue is he is generalising and making a statement about ev’s based on owning a high end car without access to a reasonably priced charger network. It’s an edge case
Brillant. Absolutely brillant general overview, thought input and perspective on so many relevant topics around EVs (without putting on the pink glasses). It´s flabbergasting that neither politicians nor car makers were able to see even just half of this beforehand. Or they just ignored rational analysis. Straight headed into idiocracy. Just let the market forces decide. There sure is room and demand for a 30% market share of EVs, the same as a 30% wind and solar electricity production share is feasible and reasonable. Why does everybody seem so hypnotized by "100%-targets" as a kind of wonder-cure for everything nowadays? Thank You Shmee, this was great!
In Norway the Taycan is not depreciating that much. 2020 models are still selling around 110K€. A new Taycan GT with the 1000 ish horsepower is still selling at 300k€.
In Norway old Taycans didn't have to pay 25 % vat back then, but new cars have to for the amount above ~50000 EUR, so this helps the sellers.
The EU is fucked up, telling people to buy EVs when the infrastructure isn't even there. People should vote and get rid of the government officials that made of these ridiculous rules.
I bought one 5 years ago and the infrastructure wasn't that bad then, today its significantly better and getting even better all the time. I'm not keen on banning things, but given that diesels are carcinogenic I think there might be a good case for getting rid of even the ones currently on the road. As for petrol cars I think EV's will soon make them redundant. This is already happening in China were a new VW ID3 is about £12,000, think what that would do to western markets.
He's in the UK, which is not in EU. EV charging infrastructure is great where I live (which is actually in the EU)
No government should ever meddle in free markets. When these wretched milk floats are what people actually want, they will buy them.
Part of the reason for depreciation is also how quickly the technology is evolving, look at the capabilities of the latest version of the Taycan vs the original, look at the cost curve of lithium ion batteries. But the thing is that this is likely to bleed over to ALL cars - as EV's develop rapidly where is the market going to be for old fashioned petrol-burning cars that still work in the same way as 20 years ago? They will also look obsolete. So the disruption to the market will end up making all cars depreciate in value more quickly than they used to IMO, that's just a consequence of this transition..
Imagine buying cars as investments instead of using them as tools that they actually are
I know, right? The whole discussion is a haybale full of stupid. You buy a car to drive it. That's all. I DGAF if my car depreciates. It's not going to another owner until it's been used up, anyway.
why not both? 😁
This was a really interesting video. I have learned more about EVs from your Taycan videos than anything else. It just showed how far away we are from mass adoption of EVs. The governments are saying just a few years, but it is more like 20yrs before we get close to everyone driving an EV. I think they will just give up before that and realize it won't work in mass
No they work ok for the masses but not great for You-tubers.
@@jasonmugridge that makes no sense. UA-camrs have perfect setups. They should work way better for them
Going on 125,000 km with 2022 Tesla 3 LFP. So far I save over $8,000/year. The car will have paid for itself on savings alone in about 6 years. Btw only down 14km range at 100%, really the best daily driver I’ve ever owned.
Daily driver you do 60,000 km per year? Uber driver?
@@rjbiker66 No, I'm in sales and travel 40,000 km / year for work, the rest is my 3 teenage children and my wife. We also have a second model 3 same year, now with 50,000 km. We go skiing every weekend in the winter and other activities in the summer.
Taycan’s also have all the huge tech subscription costs once the car is 3 years old too which second hand owners have to pick up. The current Auto Trader prices are what dealers are asking, they would accept less and also you’d get much much less as a private seller or as a trade in and would be losing even more. Tim, well done for getting out when you did!
I never understood why an electric car was named the Turbo S...
Since when does an EV have a turbocharger....?
Don’t want to not pick but… You get 3 miles per kWh with Taycan which gets you close to 6 for £1.5 which is better than your quoted 4 miles on Ferrari. Besides its location and charger specific, .80p is higher tariff that BP is charging for their fast chargers but there are plenty of cheaper ones - including if you subscribe with them you get 20% off. One point stands though - your electricity will be always cheaper, much cheaper.
As to used car price - taycan wasn’t worth 160k to start with - just because they ask that much doesn’t mean it does. The electric car prices need to come down as this is the biggest issue holding people back. I’m not going pay 200-300 more on lease over ICE if I’m not even gonna save that much monthly on running it. Simple math. People, especially these days, look at that first and foremost.
2.2 on the Taycan and over 5 per litre on the Lusso
@@Shmee150 had a look on Taycan owner forum, as was surprised by your figure, and lowest provided was 3. But it can wary of course depending on driving style.
As said economically they only make sense when:
1. You charge at home, better yet if you have special cheap night tariff
2. You drive a lot - absolute min 10k a year
Taycan isn’t economical choice, never was, it’s a Porsche that performs like a super car and that’s how they priced it. But obviously contrary to ICE models - battery doesn’t last forever and still is very very costly to replace. Personally- it seems to be one of the EVs done right that I would love to own, money no object. But looking at used car market - 4 years old - you can get a really nice car for 60k.
Okay, I’ve always scratched my head about the obsession around the kislux book totes and their practicality, but this one is adorable!! Congratulations
£45000 for a EV Skoda..end of discussion …..I’ll give up Driving first.
I'd rather walk than drive than any Skoda!
@@graemejones9707why ?
@@girvanlyons9202 Because they're shit and embarrassing
EV buyers should think of these things as expensive cell phones. Sell a used cell phone and its the same % loss
But thats not very “green” 😂
pure ignorance as expected. EV's offer significant savings over ICE cars in most cases not to mention other factors that are very positive for the owner. I know several people who are saving so much with their purchase of new Model 3's that their monthly payment to own is less than their equivalent gas bill was on their car so essentially the car is free to them plus that model does not depreciate as much as a Mercedes E class, BMW 5 series which is their direct competitor. Your lame analogy of it being a "phone" is just retarded but you know that
EVs are the perfect choice for people who don't like driving, never do long journeys, always return to their house with private drive and personal charging point every evening, have money to burn on ridiculously priced and rapidly depreciating EVs and who don't care if their purchase is appalling for the planet because it is written off or scrapped very quickly due to dead battery (whether due to minor accident damage or loss of charge, the car is scrapped because it is not worth buying and fitting a new battery).
You had a lucky escape! I lost loads on mine! You and Harry and Mark have covered this well.
thank you Tim for such a great video and explaining everything the madness in this country
EVs sound like a terrible experience and risk.
Maybe from Shmee's confused supercar owner vantage point. If you have access to a plug at home or work, buying a quick quiet cheap to operate EV that's much better for the environment is a no-brainer.
GTC4Lusso is my dream car! Glad you went back to it after the Taycan!
So if EV’s are so bad, how come the largest car market on earth (China) is 50% EV now ?? The Western car makers dragged their feet for so long and then offered us cars that were overpriced.
This is the small isle perspective on EVs..
There is a certain irony here with China the most polluting country in the world by far (with God knows how many thousands of coal fired power stations) producing the most so called ‘green/electric cars’ in the world.
Because it is very hard to register a car if it is not EV in china. So if the emperor wants things to be in a certain way, the people have no choice... So, I'd say, enjoy your rights and privileges...
There are fields of registered EVs, with 1000s just sitting there. The figures are being fiddled
Because here in the states the oil co's have masive influence in politics as well as media. The highly iognorant and easily mentally manipulated cannot afford EV's therefore in order to protect their fragile ego's they latch onto the stupid rumors such as:
The catch fire - completely wrong of course go look at the number of fires on EV's versus ICE cars EV's are a tiny fraction
EV's completely lose their range in the cold - BS. Tesla's lose only a very small percentage of their range
"Range anxiety" - Lucids can get >500 mile range, Tesla's usually get >#20 miles range which is comperable to most ICe cars, Teslas and most other EV's warn drivers of range constantly and map where the neaarest chargers are plus there is only a msall percentage of people who drive over 300 miles per trip. In most parts of the US chargers are plentiful, easy to operaate, cheap, and pretty quick to get the car to 80%
Nobody wants an EV - EV's are by far the largest growing and fastest growing segment of the car industry. Again pure ignorance
"Sales have slowed/those who wanted one bought one - ugh! Of course sales have slowed as a percentage. IF 100K pople bought one in 2017 and 10K bought one the year prior that is 1000% growth. 2022 they sold 918K EV's in the US then in 2023 1.4MM that is an increase of 60% so rate of growth slowed a it had to otherwise they'd have to sell 9MM to keep the rate of growth which was impossible but keep in mind that is still 500K more EV's year over year which is amazing.
EV's cannot sustain due to the electrical grids - pure 100% stupidity. Yes they can, they in no way put a high bruden on the grid. The vast majority are charged late at night/early morning when electricity is chepa and readily available you can program when your car charges so as to minimize it's cost to you.
EV's weigh so much they ruin the roads - more completel ignorance. Most EV's are within 5% of their ICE counterparts such as BMW, Mercedes, even Toyota Camry or Accord go look it up.
The allure of EVs is fading quickly as more owners live with them and realize what they are compared to what they had before or could have bought instead.
I am so happy I get to buy my Taycan for £35000 thank you rich people like Tim. I cannot be happier with this car
Bit sad really - try to be a better person.
@@123prestolee what
you just admitted that you have to buy lower level Ferraris to get a special order whereas before you denied it when people commented about the Roma
He sure did. I'm surprised he hasn't refuted it with long-winded word salad.
Can someone please tell CDN dealers! Heading down the EV path will bankrupt Porsche…
Porsche is part of VAG, a gigantic company. If Porsche went out of business as a brand tomorrow, VAG would survive.
Great review, lots of your thoughts made absolute sense. Keep up the good work 👍🏼
Good report. We are not in the same league but we wanted to try an electric car alongside our ICE cars, of which we have four. We eventually went for a 2020 BMW i3S. Having recently installed solar at our home we can often charge the car from 30% for free but even on a low night tariff that cost is sub £3.00. We use it all the time and seldom drive our ICE cars, however, I think what is having a dramatic effect on EV sales is the ridiculous cost of outside charging. As you mention, costs can be up to £0.80p per kwh which is verging on daylight robbery. I think the Government should step in and set limits to electricity costs and bring them more in-line with domestic rates.
I was an electric car sceptic. I've now had a Model 3 Performance for 3 years and knocked up 75,000 miles. Infrequently have to charge anywhere but home, save around £8k per annum in fuel. Lovely car, I lease so don't care about depreciation. It does the job very well.....dare I say better and much cheaper than previous BMW's, Audi's and a Toyota!
I keep leasing, my last 4 cars all have been leased. Most of them with $0.00 down and 12,000 miles/year limit. At the end just bring it in and get new one, simple Do Not buy depreciation asset.
Err, your lease payment is your ‘depreciation’.
Do you lease it for free ......it will never be yours just a monthly burden....
@@markseabrook5279he’s a dosey sod.
Omg
Some of the worst financial advice I've heard this week. What dealership do you work at?
Customers DO buy electric cars, just not the shitty overpriced ones that legacy manufacturers make. They are getting utterly obliterated by the competition, and deservedly so. Sales are in fact skyrocketing, not falling as the oil shill media would have you believe. But that truth is a hard, if not impossible, pill to swallow for enthusiasts like Schmee and that realization may not come until it literally hits him in the face a few years from now as bankruptcies of all his favorite car companies start to accelerate.
Porsche Budapest hasn't sold 1 Taycan facelift since their launch. Tesla sales are visible on the stock market and they have been decreasing, not skyrocketing. I have two EVs and love them (Tesla Model 3 and SH Taycan GTS) however the reality is that they deprecate really fast compared to my 911 Turbo. And they are not for everyone, if you live in a city they are great and really comfortable, but the reality is that since the tech is so new, newer models make older models deprecate really fast.
The Taycan replacement battery I read is £55k!
How much is a new engine? 😂
Too much, I read a typical Porsche battery lasts 6 years, don't think your typically need a new engine in 6 years
@@CandidSeagull 6 years? Their battery warranty is 8 years so I doubt that very much…
@@CandidSeagull You read wrong stuff, the average battery degrades less than 2% per year... you'd know this is you sought information not affirmation of your obvious cognitive biases
@@slowery43 You need to read more more varied sources as no way does the battery in the Taycan degrade less than 2% per year. I base this on the numerous owner / garage reports I read. Bet you own a Taycan and struggling to sell.
What an amazing video, your 100% correct with all that money spent on Ev, how efficient could the manufacturers have made petrol engines by now. You know full well the government is going to start heavily taxing electric vehicles soon, and if there is no other option, drives will have to pay it or use public transport 😡
Bought my 2020 taycan turbo s last may at a «bargain» would probably have to bite a 18k £ loss right now if I solid it! But I love it , its a damn good car ~ launch controll makes grown men giggle! As a car guy you must have a ice car or two to Get the joy of sound and smell aswell-
EV madness.
Anti-EV ignorance
Hi Shmee!
1 second off the first comment this time
9:20 My biggest issue with EVs is that once they spontaneously combust, they are extremely tough to extinguish
No, your biggest issue is believing it's a much bigger problem than it actually is...... The NTSB in the US, recorded 180'000 ICE car fires during 2022. Tesla's own statistics show that out of around 6 million Teslas so far produced over 11 years, only around 250 have caught fire Worldwide..... As a comparison, around 300 petrol and diesel cars catch fire *each day* in the UK....
@@Brian-om2hhthat’s BS. ICE fires are easily extinguished AND they don’t start by themselves. EVs can run away thermally ignite and take down a whole,e structure because they are very difficult to put out. We’ve had three EV fires in our town this year with not one reported gas fire. I’m an engineer and worked with lipo batteries in my business we had 11 fires start while charging or just by themselves.
ICE cars require HEAT to ignite. But they can’t create their own heat. EVs and lithium batteries can create their own heat and start fires by themselves.
I’m SURE Teslas numbers don’t have ANY bias in their own numbers.
Sheesh
I bought my Taycan second hand and extended the Porsche warranty, its an amazing car (my 3rd and best Porsche) The home charger and overnight tariff is the key to owning it at a reasonable cost
Man I love your honesty, sharing the glory with us and sharing the pain with us. Much appreciated.
Cars depreciate! Wow who knew😆
Ironically, it seems that in recent years people had forgotten this
There is a simple answer to why?? If EVs were as good as ICE cars they'd sell, no subsidies, no tax breaks required. They only work for a specific market, home owner with off road parking and a home charger, and change their cars often, say every 3 years. So the customers that can afford them, the wealthy. And that isn't typical of the average motorists. Great video Tim
I agree. The market for EV is really niche. As you listed, you need to be able to plug it in at home, commute from A to B within the range, and not care about depreciation (which will lead to people leasing a lot). They really are like iPhones, disposable after 2-3 years and that's it.
Imagine fretting about buying enough Porsches to earn an invitation to buy a GT2/3 / RS… when there are dozens for sale on Autotrader every week. That bubble’s about to burst…
Loved this video, explaining the current EV market conditions and the various factors that affect the demand for EV, in general. So essentially, government mandates have been put in place to tax those who currently own a higher end EV to cut their losses, which originated from the actual drop in demand for those higher end EVs, and also regular model EVs, as well. The case of passing over the loss to the consumer because demand for a particular product “vehicle type” has declined. Glad to see you were able to make sound decisions to cut your actual loss on some of these EV’s, Tim. Car ownership and collections truly are another type of investment for those that can afford it. The economics behind a car collection as diverse as your portfolio, is very interesting, to say the least. Insightful and entertaining, you should do more uploads focusing on the background details/financials of owning a supercar collection. Have a great weekend, Tim. 🏎️🍾🏎️
I'm not normally a fan of Shmee, I find his presentation style a tad too frothy, but this video was expertly delivered. Informative, fact-based, evidence-backed - that I like.
People have woken up to some basic facts (1) China is building coal fired power stations at a significant rate e.g. 2 per week were permitted in 2022 and an additional 47.4GW of coal power capacity came online in 2023. This increase accounted for two-thirds of the global rise in operating coal power capacity, which climbed 2% to 2,130GW. China's 70.2GW of construction that was underway in 2023 represents 19-times more than the rest of the world's 3.7GW. (2) EVs simply don't work for a lot of people. (3) Norway is not the exemplar, its unique, it is a tiny country in terms of population with a vast amount of hydro-electricity on tap. (4) EVs in Europe are more about relationships to energy sovereignty than environmental considerations e.g. Russia turning off the gas supply. (5) People are now aware we live in a goldilocks interglacial period caused by natural global warming and cooling cycles.
Info packed vid for sure. At 57 years old Ive only ever owned, Vauxhall Viva, Holden Premier, Honda CM200 motorcycle, Ford Sierra Station wagon and the last two of which I still own, a 1990 300ZX Fairlady TT and a 2008 Mini Cooper Clubman. None of which I purchased with the plan to flip for a profit. In fact those last two I hope to own for the rest of my days. One day I'll probably get an EV but its likely to be my last purchase of a car. Maybe another bike. I thank all the early adopters of EV's to help iron out the kinks ready for my turn.
I would never buy an expensive car again! This is where depreciation hits hard...
I'm glad to finally see a car influencer explain what's going on with the EV market and the huge costs, depreciation and loss they involve. Nobody is going to bring a Tesla to a classic car meet in 20 years time. It will have already been crushed by the junk yard
still dont get the need to buy an ev, they are not that green
Hey Tim, it was a great topic and speech. Thanks for enlightening us. Cheers from Turkey.
A very cogent analysis. I always love listining to your perspectives on where the EV industry is going. Please keep up your good work.
Great content Tim. As you say the problem is not EVs, if you commute and charge at home it’s a no brainer, I went from a Porsche 911 to a KIA EV6 GT and not only is it way cheaper to run, it’s actually a better car for that use.
The problem is when Governments try to mess with markets, that never ends well😅
EVs need to find their place organically as they will given time.
Currently I daily an EV6 GT and keep an NSX, BAC Mono and 997 for the weekend, it’s the perfect combination!
Electric cars cant be manipulated or repaired by the owner... thats a huge difference with petrol cars
Basically don’t buy electric unless you can afford to scap it when your done with it
I hate EVs and want to keep my V8. And no green or eco party is going to change my mind.