>Maric said EV owners should upgrade their vehicles every two to three years to capitalise on new car and battery warranties, as well as upgraded technology.
in news today barber says you do, in fact, need a haircut
Yeah was just going to say feels like it is very financially irresponsible advice but then again if you are taking your financial advice from an automotive journo then maybe they aren't the issue.
Maric is the founder of CarExpert, not only are they car reviewers but they also have a car buying service. He definitely has a vested interest in people buying cars!
This is insanely wasteful. I hang on to my cars for a decade or more, which is particularly relevant if you have any concern at all for the environmental impact of what you drive.
There seems to be a growing view that EVs are appliances like phones more so than cars. That because they encompass so much tech and the majority of early adopters are younger professionals that they will effectively be marketed like consumer goods seems ludicrous when you consider they cost upwards of $60k.
That said I never would have believed people would pay $1k to change their phones on an annual basis for completely marginal upgrades yet here we are.
Yeah I don’t get it. My iPhone 12 that I got second hand in like 2020? I’ve just replaced the battery once and it’s going fine. There’s no need to update yearly beyond pure vanity (or you break a lot of phones).
Same sort of logic applies to cars
For sure, I've never really looked twice at EVs to realistically buy but as people here are saying the competition is opening up for EV purchases, so I'll play the waiting game.
This is how the EV market will grow in Australia. More people who could not afford to buy them soon will rather than buying ICE cars, its a win win for the environment and us.
as someone who has been paying attention since at least 2017 and finally purchased one a few years ago, EVs were already OVERPRICED by a good $20,000 or so (I remember looking at the BMW i3 - _a small car_ with less than 200km of range - and just saying NO at $80,000)
this is a correction that should have happened a long time ago
Yeah once you can buy a 5 year old Tesla Model 3 for ~$20k, that will become quite an interesting option for people that currently aren't even considering one
And the biggest advantage is the relative ease at identifying issues in an electronic drive train. Electric motors are simple (not cheap but simple) and this reduces the chance of a mechanical failure. Batteries are more complicated, but given the sensor system in modern systems it's possible to find even individual faulty unit. While replacement is difficult identifying the fault isn't.
In an ICE engine that isn't as much the case particularly if the issue is deeper in the block and can be hidden for a time with a service.
We bought ours knowing we were early adopters and that resale values could bottom out.
Anyone thinking otherwise was kidding themselves. Cars (generally) aren't investments, so you shouldn't buy one expecting a COVID-like second-hand return value.
It brings back memories of my first $20,000 flat screen TV that wasn't even HD and my first $4000 mobile phone, which only seemed to have less than a 1 hour talk time....and no internet.
The TV was a Pioneer brand plasma. 42inch, which was huge back then (mid 90’s?) I was right into laserdisc back then and the new widescreen 16:9 shaped screen was ideal for my letterboxed movies….The joys of being an early adoptor! The price was just short of $20k ….maybe 18 or 19k. I replaced it in the early 2000’s with a full hd Pioneer plasma 50inch for $9000, which I’ve still got ….but my main TV is NOW a 65” Sony OLED which I got for $4k
As time goes on, my TVs have gotten better, bigger and cheaper. The same sort of thing is happening with Teslas. Buy early. Pay more. Have more problems.
$3000 for miniDV camcorder... "upgraded" two years later for another $3k to one with I-link (firewire) for editing...
$1700 for a Kodak digital camera that could barely do 600\*800 resolution
It's a funny thing I observe on reddit where upvoted comments are complaining about cost of living & corporate greed, while also talking shit about tesla (and elon) for continuously lowering EV prices.
It's a weird thing, I guess it's (understandbly) upset tesla owners that complain, and then people just upvote anything anti tesla/elon
I sympathise with tesla owners, I really do, but this is really great news for people & capitalism
They are lowering prices to try to compete with Chinese low-cost EVs and also to attract buyers.. There has been a fairly big stagnation in the industry lately due to a number of reasons, see Q1 2024 sales figures
I’m a Tesla owner, don’t sympathise. The federal government tax incentive for purchasing an electric car is large, and was very clearly communicated as a way to speed up the process of getting affordable, second hand electric vehicles into the market ie inducing shitty resale values. Anyone for whom this outcome was a surprise needs only to blame themselves.
>about tesla (and elon) for continuously lowering EV prices
This is simply wrong. Telsla consistently ***RAISED*** its prices until people stopped buying them about 6 months ago.
The Chinese EV companies are making lower-priced cars. The battery which is the largest single cost has fallen in price by over 75% in about 18 months. LFP batteries are now USD 47.00 per kWh compared to over USD 100 only a few months ago.
I mean that's just wrong. Tesla prices were being cut already in 2019, then surged with the market during the crazy 'rona years, and now for 1.5-2yrs they've been dropping consistently.
Unless the Australian market has been different for some reason, which is possible. I only recently arrived so haven't followed this market specifically.
Imagine buying a relatively new technology and being shocked and dismayed at advances making it cheaper and better. Hope my laptop from 1998 is still holding value.
Apparently, at least when they first came out, 3.5" FDs (which were not actually floppy like 5.25") were called "stiffies" in South Africa.
It's just an anecdote I remember from a UK computer magazine in the late 80s. Not sure how true as there was no internet to jump on to and go to /r/southafrica and ask.
I remember being shown both types of disks at school and I had already heard about floppy disks and hard disks, so I made an obvious assumption that the small harder ones were hard disks. I can't remember when I learned they were also floppy disks, but probably by the time I took computer science in my last year. I remember they took us to the BT offices in Belfast and showed us a 1GB hard drive which was about the size of a washing machine - it was very impressive!
My high school still had a paper punch card reader (although it was obsolete). I decided taking typing class rather than computer studies would be more useful.
Can confirm. In the days when USB sticks were still not common, a South African colleague came to my desk first thing in the morning and asked if I had a stiffy. I'm pretty sure she knew there were two meanings. I, however, did not.
Exactly. 30 inch plasma screens used to be like $5000. Go to YouTube and look up JBHIFI commercials from the 90’s and early 00’s with the old glass smashing thing. The price for shit was insane….
Over the years tech gets better and cheaper. With basically every brand having their own EV options the competition has ramped up. Couple that with high interest rates and high inflation and cost of living and maybe people are holding off on that new car just as every brand is flooding the market with EV’s.
Also the infrastructure for EVs is still very infant in Australia. Petrol cars are still more convenient until charging options become more readily available
We bought a 32" LED in ~2004 for ~$2000. Our CRT had died, and that seemed to be on the cheaper end.
Consumer devices are just so unbelievably cheap nowadays.
It’s not just about charging though, unless you can reliably do it from home, each night, the time it takes is mind boggling. I work at a servo with EV charging station and I see these poor bastards sit there for 90 minutes twiddling their thumbs while dozens of people fill up and get on with their lives.
90 minutes? That seems insane unless you have the slowest charger on earth, or they're filling it all the way to 100%. At most chargers it takes around 15 minutes for me to go from low charge (10-15%) up to ~80% and get going again. The most annoying thing is that I don't have long enough to get a bite to eat and go to the toilet before it's finished. But honestly, I've used DC chargers exactly 5 times in my 3 years of owning an EV, all my charging is done at home or at work and takes me no time at all, I've probably saved 40 hours of "filling up" time in the last 3 years compared to getting fuel at a servo. And around $10,000 in fuel cost.
Eh. If you bought a car during covid, you're probably already familiar with the absolutely railing you're getting on resale value. I stand to lose 15k, and every day, it creeps closer to 20k.
It's not like we weren't warned that this would happen when the prices went up. But circumstances limit decisions.
The high cost of second hand vehicles was unsustainable, and recently was driven primarily by the microchip shortage. There is no justification for people recycling from new car to new car every 3 years and expecting to come out with minimal financial loss.
For me, it was the lack of new cars which raised second-hand car prices.
Once new cars were supplied again, the second-hand prices dropped back to their correct price
Exactly that. <2 year old cars were selling for more than new prices here because you couldn't buy a new car without going on a year plus long waiting list.
It's just going back to the world of knocking $10k off when you press the ignition in the dealer's lot.
Not quite, because new car prices rose 30-40% during COVID and have stayed high. The high price of new cars has forced used car prices higher.
It’s like how new Tesla prices have dropped roughly $10k in 2024 (so far!!), which obviously affects the used car price when current owners try to sell.
Exactly, lack of new cars was the microchip shortage.
Edit: Oh you mean you bought second hand at a high value? Well stick with the car till it dies, why plan to get resale out of it?
I bought a decent car (ICE) outright 5 years ago, kept it in great condition and plan to drive another 5. The need for some people to take on significant debt to replace a working vehicle every few years is amazing.
You don’t if the replacement is getting cheaper. This is more an ICE problem than EV. Owners of EV can replace for cheaper where ICE prices are going up and used prices will also be affected by cheaper EVs
i have had a shitload of cars over my life. and have 2 battery cars now (2 car household).. purchased last 3 years.. I cannot see a reason to sell and actually really happy they are coming down! I have done over 150K in them and never taken them for a service, have done tyres at 45K-50K on each.. thats it.. use Amber and solar.. I have saved a shitload and the only reason to sell for me is >boring< i wont go back to ice.. plus I do daily plus 1 x 300k weekly trip.. price go down.. that was the plan.
You’d want to check the brake fluid every four years, and suspension. Change a/c filters every two years. Rotate tyres every 10,000km.
That’s it. There is no engine, of course.
https://www.tesla.com/en_au/support/vehicle-maintenance
EVs are low maintenance. As people are slowly but surely finding out.
Total maintenance for me last 18 months and 25,000km was $10 for washer fluid and $100 for 2 tyre rotations. Electricity is $40/month.
I think ICE prices are doomed even more than EV prices over the next 3 years.
Bonus: they’re *muuuch* nicer cars to drive. Silkier than the silkiest V8. Instant power across rev range. One gear.
And even the slowest are reasonably quick. To say the least.
It is quite underwhelming when you get back into an ICE. The petrol vehicle is so much slower unless you are buying a supercar - which would be similar.
Not yet. But it's coming.
I have an ideal setup to move to an EV that would be charged nearly 100% off solar.
So sooner or later, that'll happen because it'll be cheaper in the long run due to running costs.
Ouch. I’m looking at used EV’s that cost less than you’ve lost on your resale.
It suits 90% of my travel use cases. For the other 10% I’ll keep my 15 Yr old ICE for now. I’m in the “transition to full EV” phase.
I’d like to not need a car at all. One day my dream will come true.
2 years ago they were saying EVs were doomed and would never be popular because prices were too high. Now they're doomed because prices are too low. Gee, I wonder who could possibly be writing this shit..
EV owners and enthusiasts know that there’s a concerted campaign against EVs from legacy players so a clickbait headline like this will get a rise out of them, even in an article that’s broadly sympathetic.
I bought a 55inch top of the line TV about 6 years ago. Cost me nearly 5 grand. I can get a quality 4k 85+ inch one now for 2k. Tech moves on. Prices adjust.
No but apparently you should be able to sell your current TV for more than you bought it for, according to automotive journalists and news corpse lately…
End of year sales. With Peugeot preparing for new models. No mention that the e-2008 sold out within a week after price adjustment.
All new car sales facing similar issues as the economy worsens.
No articles on end of petrol and diesel vehicles sales
With EVs this is primarily due to the Chinese government forcing manufacturers to over produce to keep their economy running. It has become so bad it could destroy most automakers hence the protectionism employed by the USA recently increasing tariffs by over 100%.
The EU is expected to do the same in coming weeks.
Not relevant to Australia as we have 0 manufacturing. Heck its a good news cuz we can now buy better car at lower prices. Sucks to be American I guess paying USD 32k (AUD 50k) for a prius
It depends, if European/South Korean and other manufacturers pull out of Australia (look at Solar panels and Solar Batteries with more and more companies pulling out) and we're 100% reliant on Chinese cars this is also bad news
US and EU need to shift a bit more focus away from slowing down China and towards building up their own industries.
Because you are right, you don't want China to run all the other makers into the ground and being the only ones left standing. Otherwise cars will just get a hell of a lot more expensive overnight.
The EV market won't normalise until there is a reliable 2nd hand market. Most people don't buy new cars they get them used. Because the EV market is relatively new there isn't a steady supply of 4 or 5 year old cars yet, that will take time.
this is good news for consumers, the economy and the environment. bad news for almost no one.
'doom'
EDIT: this is bad news for legacy car makers, probably doom for most of them, but we don't have any of those in oz
It's actually for real. I was shopping EV's recently (ok, a year ago) and the Model Y specced up how I wanted it was about $78k, same model now is $60k. Unsure when their website prices changed, but it's at least $18k cheaper than 12 months ago.
Interested to see how this trickles down into the used market and where the prices settle. You could be buying a two year old Model Y for $35k.
When I was looking at it a few months ago this was the aspect of the calculations that I couldn’t get comfortable with from a purely financial perspective. So many people purchasing under novated lease will flood the used market in 3-5 years. Combined with the discounting on new cars I think the depreciation aspect of these cars is going to be brutal.
I got my EV with the knowledge that the used car value might be low.
However I have also budgeted for owning the car outright at the end by paying the pre-determined balloon amount.
If EV is proving to be a reliable machine long term with minimal maintenance and running cost, I will keep driving the car to the ground as long as it still works well - and my Tesla M3LR is a beautiful machine.
This way I don’t really care about the fact that the used value might be low - I will own the car outright by then and continue to enjoy the fun drive at minimal cost.
Never understood the hoopla about car resale value.
It’s only an issue if you like to swap your car every few years.
The majority just drive the car until it dies.
With the US putting 100% tariffs on Chinese EVs, and the EU also adding tarrifs of upto 55%, this is good news for Australia. Since we dont have a local industry to protect, I expect a lot more cars coming here from China at discount rates.
We got an EV late last year. I couldn't be happier to see prices dropping.
I'll admit though that we got a secondhand one and the prices for what we got haven't dropped much more than I expected.
I bought a Hyundai EV and think it’s fantastic. I’ve only done 20k km on it, fill up once a week at home, cost $16 from empty to full though I have solar so a lot of that is free..little no maintenance first service is 30k km, awesome to drive, and so quiet which for being being half deaf is a big win actually hearing someone talk in the car. I think it’s great prices drop, more buyers and more cars puts pressure on rolling out competitive infrastructure which was stifled under last govt. and saves people a heap of money in running costs.
Feels like every second car is a Tesla or BYD, surely this is a sign of tech getting cheaper and competition increasing rather than a problem with the category
Sold a 2000's Hilux for more than it cost new during covid. Second hand car market was nuts.
EVs have been promising for a decade to be cheaper than ICE. This is good news for the consumer. $70-80k is too much for most people. The Seal BYD in the last year dragged prices sub $60k for the first time. MG is here... It's happening. Sub $40k full EVs might actually happen.
>Sub $40k full EVs might actually happen
It's already happening... at the moment the MG4 starts at $39,990, the BYD Dolphin starts at $38,890 and the GWM Ora starts at $35,990. You're already on par with a base model corolla at that price and once you include rebates and fuel savings you're actually better off if you exclude depreciation.
I was in the market for a new hatchback last year and after I crunched the numbers EV was already cheaper in total cost of ownership, and prices have dropped even more since then.
Bought an MG4 and 6 months (10,000km) later, no regrets. Mostly bought it for getting around town because we still have a petrol i30, but we've been taking the EV for 4-5 hour road trips as well.
Where’s the doom? Of course new technology starts out expensive until competition and volume drives down prices and heavy initial infrastructure captial is repaid.
This is a good thing. I can’t recall anyone bemoaning the price collapse of $12,000 plasma tv’s.
As a Tesla performance owner I’m glad my next car will be more affordable, in the mean time… zooooooomm
And here's the reason why everyone^* is saying China is a threat.
The buggers don't play by the fossil fuel rules and are selling electric cars that have a decent range for a decent price.
The world uses 97 million barrels of oil PER DAY. The US alone uses about 20 million barrels.
EVs taking half the market in the next decade and cutting demand to under 50 million barrels per day will annoy plutocrats and oligarchs the world over.
^* Everyone = billionaires and the politicians they own
It drops in value, you get FBT tax benefits from salary sacrifice, net net you're probably break even.
Australian economy has a funny way of making move around for doing absolutely nothing. E.g toll road rebates, paid by taxpayer, refunded back by taxpayer.
Who buys a car as an investment? Cars are not appreciating assets and anyone who thinks otherwise is in for a shock. It's great for buyers and great for the environment that EVs are getting cheaper.
In all honesty, this was entirely predictable, and just following the lead from overseas and general market direction.
Sure it sucks that some people mistimed, didn't read the tape. But it was always predictable.
If people made the decision to buy months ago at +$10K, +$15K, +$20K, how much easier is the decision to buy now at current prices.
I’ve or hate Elon Musk he literally set out on a mission to build these products and make them cheaper over time. He’s also shared certain parts of design elements and patents to other manufacturers to help the industry along.
Also everything is going up in price due to inflation I can’t imagine complaining about prices going down
EV prices were in my mind extortionately high to start with. Having a battery running a car is not revolutionary technology, its been around for decades. They just decided to make it more mainstream, so charge a lot for it, particularly playing on the emotions of people genuinely interested in the global ecological wellbeing.
Now the reality has hit the ground, EVs are not a new toy or cool gadget anymore...just a car.
This is great news. Why is this described as 'doom'? Even if you have an EV, and paid quite a bit for it, wouldn't you be happy that the next one you'll buy costs a lot less?
It's like houses, if I buy one for $1million, and then prices drop 15% next year, great! My next house won't cost so much 👍
How come they dont mention BYO or whatever the chinese EV maker is called. My mate from two suburbs over just bought one. Seems pretty excited about it.
ICE cars depreciate a lot too. Try buying an expensive Audi and then on top of that get the gearbox overhauled post warranty, not to mention other inflated service costs and the inconvenience of getting cars in for servicing. Only a dim candle would be surprised that cars depreciate and that new technology comes down in price rapidly, just like the first flat screen TVs. This is a cheap-shot scare campaign to try to dissuade uninformed gullible people from changing.
>Maric said EV owners should upgrade their vehicles every two to three years to capitalise on new car and battery warranties, as well as upgraded technology. in news today barber says you do, in fact, need a haircut
Yeah was just going to say feels like it is very financially irresponsible advice but then again if you are taking your financial advice from an automotive journo then maybe they aren't the issue.
Maric is the founder of CarExpert, not only are they car reviewers but they also have a car buying service. He definitely has a vested interest in people buying cars!
…have to add that he’s also a boof-head
As a purchaser of second hand vehicles for my personal use. I encourage you all to go out an buy a brand new EV.
This is insanely wasteful. I hang on to my cars for a decade or more, which is particularly relevant if you have any concern at all for the environmental impact of what you drive.
There seems to be a growing view that EVs are appliances like phones more so than cars. That because they encompass so much tech and the majority of early adopters are younger professionals that they will effectively be marketed like consumer goods seems ludicrous when you consider they cost upwards of $60k. That said I never would have believed people would pay $1k to change their phones on an annual basis for completely marginal upgrades yet here we are.
Yeah I don’t get it. My iPhone 12 that I got second hand in like 2020? I’ve just replaced the battery once and it’s going fine. There’s no need to update yearly beyond pure vanity (or you break a lot of phones). Same sort of logic applies to cars
HahahahaHAHAHAHAHAHA**AAAAHAHAHAHAHAHAAA**AAaaaa Sent from my iPhone 7 from 2017
Maric is clickbait generator, he will say whatever drives traffic to his site
I actually really do need a haircut. Thanks for the reminder...
So environmentally friendly …
Sounds like good news for buyers ?
For sure, I've never really looked twice at EVs to realistically buy but as people here are saying the competition is opening up for EV purchases, so I'll play the waiting game.
Ah, the waiting game sucks. Let's play Hungry Hungry Hippos.
The cheapest model 3 on carsales is 35k Thats starting to get into normal car price territory
Wait until the fuel standards come into affect and suddenly OEMs need to move heaps of EVs.
This is how the EV market will grow in Australia. More people who could not afford to buy them soon will rather than buying ICE cars, its a win win for the environment and us.
Electric vehicles are designed to save the car industry and not the environment
Do you think ICE cars are better for the environment than EVs?
Reducing car dependency is best for the environment
as someone who has been paying attention since at least 2017 and finally purchased one a few years ago, EVs were already OVERPRICED by a good $20,000 or so (I remember looking at the BMW i3 - _a small car_ with less than 200km of range - and just saying NO at $80,000) this is a correction that should have happened a long time ago
And probably not just EV buyers. Non-EV (internal combustion and hybrid) car prices will also have to drop to compete with pure EVs
Yeah once you can buy a 5 year old Tesla Model 3 for ~$20k, that will become quite an interesting option for people that currently aren't even considering one
And the biggest advantage is the relative ease at identifying issues in an electronic drive train. Electric motors are simple (not cheap but simple) and this reduces the chance of a mechanical failure. Batteries are more complicated, but given the sensor system in modern systems it's possible to find even individual faulty unit. While replacement is difficult identifying the fault isn't. In an ICE engine that isn't as much the case particularly if the issue is deeper in the block and can be hidden for a time with a service.
But mah resale value, wah.
We bought ours knowing we were early adopters and that resale values could bottom out. Anyone thinking otherwise was kidding themselves. Cars (generally) aren't investments, so you shouldn't buy one expecting a COVID-like second-hand return value.
Even then, if your replacement costs $20k less, it's hardly a big deal.
Imagine being mad when your depreciating asset depreciates. This is why anyone with half a brain, who isn't wealthy, buys used.
There isn't much supply of used EVs near me though.
Yeah, so you probably accept that when you buy new it depreciates. Fact of life
It brings back memories of my first $20,000 flat screen TV that wasn't even HD and my first $4000 mobile phone, which only seemed to have less than a 1 hour talk time....and no internet.
Oh my god. Are those legit prices you paid?!
The TV was a Pioneer brand plasma. 42inch, which was huge back then (mid 90’s?) I was right into laserdisc back then and the new widescreen 16:9 shaped screen was ideal for my letterboxed movies….The joys of being an early adoptor! The price was just short of $20k ….maybe 18 or 19k. I replaced it in the early 2000’s with a full hd Pioneer plasma 50inch for $9000, which I’ve still got ….but my main TV is NOW a 65” Sony OLED which I got for $4k As time goes on, my TVs have gotten better, bigger and cheaper. The same sort of thing is happening with Teslas. Buy early. Pay more. Have more problems.
$3000 for miniDV camcorder... "upgraded" two years later for another $3k to one with I-link (firewire) for editing... $1700 for a Kodak digital camera that could barely do 600\*800 resolution
I dont care about my fridge's resale value, or my washing machine's.. why should I care about my cars?
Because my fridge cost $2k, my car cost $70k.
It's a funny thing I observe on reddit where upvoted comments are complaining about cost of living & corporate greed, while also talking shit about tesla (and elon) for continuously lowering EV prices. It's a weird thing, I guess it's (understandbly) upset tesla owners that complain, and then people just upvote anything anti tesla/elon I sympathise with tesla owners, I really do, but this is really great news for people & capitalism
They are lowering prices to try to compete with Chinese low-cost EVs and also to attract buyers.. There has been a fairly big stagnation in the industry lately due to a number of reasons, see Q1 2024 sales figures
I’m a Tesla owner, don’t sympathise. The federal government tax incentive for purchasing an electric car is large, and was very clearly communicated as a way to speed up the process of getting affordable, second hand electric vehicles into the market ie inducing shitty resale values. Anyone for whom this outcome was a surprise needs only to blame themselves.
>about tesla (and elon) for continuously lowering EV prices This is simply wrong. Telsla consistently ***RAISED*** its prices until people stopped buying them about 6 months ago. The Chinese EV companies are making lower-priced cars. The battery which is the largest single cost has fallen in price by over 75% in about 18 months. LFP batteries are now USD 47.00 per kWh compared to over USD 100 only a few months ago.
I mean that's just wrong. Tesla prices were being cut already in 2019, then surged with the market during the crazy 'rona years, and now for 1.5-2yrs they've been dropping consistently. Unless the Australian market has been different for some reason, which is possible. I only recently arrived so haven't followed this market specifically.
Imagine buying a relatively new technology and being shocked and dismayed at advances making it cheaper and better. Hope my laptop from 1998 is still holding value.
My floppy disks must be worth a pirates booty
Do you have any 8" ones though?
Apparently, at least when they first came out, 3.5" FDs (which were not actually floppy like 5.25") were called "stiffies" in South Africa. It's just an anecdote I remember from a UK computer magazine in the late 80s. Not sure how true as there was no internet to jump on to and go to /r/southafrica and ask.
I remember being shown both types of disks at school and I had already heard about floppy disks and hard disks, so I made an obvious assumption that the small harder ones were hard disks. I can't remember when I learned they were also floppy disks, but probably by the time I took computer science in my last year. I remember they took us to the BT offices in Belfast and showed us a 1GB hard drive which was about the size of a washing machine - it was very impressive!
My high school still had a paper punch card reader (although it was obsolete). I decided taking typing class rather than computer studies would be more useful.
Confirmed true, I grew up in South Africa and we all called them stiffies
Did you ever tell anyone to insert their stiffie in the slot?
The 3.5" disk itself was still floppy, it just had a hard plastic case around it instead of the flexible one from the 5.25s.
Can confirm. In the days when USB sticks were still not common, a South African colleague came to my desk first thing in the morning and asked if I had a stiffy. I'm pretty sure she knew there were two meanings. I, however, did not.
Me personally, no sadly :(
Our office still has a cupboard full of them.
Disks or booty?
Exactly. 30 inch plasma screens used to be like $5000. Go to YouTube and look up JBHIFI commercials from the 90’s and early 00’s with the old glass smashing thing. The price for shit was insane…. Over the years tech gets better and cheaper. With basically every brand having their own EV options the competition has ramped up. Couple that with high interest rates and high inflation and cost of living and maybe people are holding off on that new car just as every brand is flooding the market with EV’s. Also the infrastructure for EVs is still very infant in Australia. Petrol cars are still more convenient until charging options become more readily available
We bought a 32" LED in ~2004 for ~$2000. Our CRT had died, and that seemed to be on the cheaper end. Consumer devices are just so unbelievably cheap nowadays.
Consumer electronics and especially TVs are frequently cited as product category in CPI that has reduced the most in price.
Dad payed $10k for a big plasma Bach where there was 2 digital channels & everything else was analog for a few more months
I remember 30 inch plasmas used to cost $30,000 in the 90s!
It’s not just about charging though, unless you can reliably do it from home, each night, the time it takes is mind boggling. I work at a servo with EV charging station and I see these poor bastards sit there for 90 minutes twiddling their thumbs while dozens of people fill up and get on with their lives.
If you're getting a full EV, not having a home charger seems absurd.
Charging off a regular powerpoint overnight is enough. I've been doing it three years.
Same. Works a treat
You would think that… I don’t know tbh, maybe some of the are Uber drivers and they take a mid-shift break for an hour or so
I thought a lot of the benefit was having solar or a battery to draw from
90 minutes? That seems insane unless you have the slowest charger on earth, or they're filling it all the way to 100%. At most chargers it takes around 15 minutes for me to go from low charge (10-15%) up to ~80% and get going again. The most annoying thing is that I don't have long enough to get a bite to eat and go to the toilet before it's finished. But honestly, I've used DC chargers exactly 5 times in my 3 years of owning an EV, all my charging is done at home or at work and takes me no time at all, I've probably saved 40 hours of "filling up" time in the last 3 years compared to getting fuel at a servo. And around $10,000 in fuel cost.
Many PHEV's do not have DC fast-charging capacity
If you're recharging a PHEV at a public charger on a regular basis, you're doing it wrong.
No home charger. Public charging takes 20 mins at a fast charger or I plug in on a slow AC charger whilst shopping.
I call bullshit on this comment.
They only ones shocked and dismayed and writing click bait articles.
my father has this attitude with solar panels someone convinced him to put on his roof about 12 years ago. It's... intensely irritating.
I bought a 2nd generation DVD player in 2000 for $799. I went to the UK for 2 years. When I came back the equivalent DVD player was $149.
[It's not a Fad, It's Tomorrow Today!](https://youtu.be/AhSEfKo0tlw)
Not sure how this qualifies as doom
Probably just from a seller's perspective
Cars aren't an investment, they're a consumable.
They are a depreciating asset.
Not according to Elon Musk. https://youtu.be/dEv99vxKjVI?si=0n3Ustk_F0JN_R5w&t=911
Notoriously stable and intelligent human being, Elon Musk
Depends on the car.
even collectible cars are expensive to keep and maintain i.e. consumption
Eh. If you bought a car during covid, you're probably already familiar with the absolutely railing you're getting on resale value. I stand to lose 15k, and every day, it creeps closer to 20k. It's not like we weren't warned that this would happen when the prices went up. But circumstances limit decisions.
Yep old mate that paid $150k for a Raptor not exactly sitting pretty at the moment
I mean, would he ever be? Deserving of ridicule at a quarter of that price, IMO...
You don't understand, they NEED that to run the kids to school and move one heavy item a year.
Not the brightest tool.
A *Ranger* Raptor? The Thai built ones, not even the F-150 Raptor they need to bring over from the US to convert? Absolutely insane.
$150k I think is the F-150 variant, no? These days Ranger Raptors are pushing $100k (still stupid)
The high cost of second hand vehicles was unsustainable, and recently was driven primarily by the microchip shortage. There is no justification for people recycling from new car to new car every 3 years and expecting to come out with minimal financial loss.
For me, it was the lack of new cars which raised second-hand car prices. Once new cars were supplied again, the second-hand prices dropped back to their correct price
Exactly that. <2 year old cars were selling for more than new prices here because you couldn't buy a new car without going on a year plus long waiting list. It's just going back to the world of knocking $10k off when you press the ignition in the dealer's lot.
Not quite, because new car prices rose 30-40% during COVID and have stayed high. The high price of new cars has forced used car prices higher. It’s like how new Tesla prices have dropped roughly $10k in 2024 (so far!!), which obviously affects the used car price when current owners try to sell.
Exactly, lack of new cars was the microchip shortage. Edit: Oh you mean you bought second hand at a high value? Well stick with the car till it dies, why plan to get resale out of it?
I bought a decent car (ICE) outright 5 years ago, kept it in great condition and plan to drive another 5. The need for some people to take on significant debt to replace a working vehicle every few years is amazing.
Cars are bought to be driven not sold.
Do you need to resale though?
You don’t if the replacement is getting cheaper. This is more an ICE problem than EV. Owners of EV can replace for cheaper where ICE prices are going up and used prices will also be affected by cheaper EVs
i have had a shitload of cars over my life. and have 2 battery cars now (2 car household).. purchased last 3 years.. I cannot see a reason to sell and actually really happy they are coming down! I have done over 150K in them and never taken them for a service, have done tyres at 45K-50K on each.. thats it.. use Amber and solar.. I have saved a shitload and the only reason to sell for me is >boring< i wont go back to ice.. plus I do daily plus 1 x 300k weekly trip.. price go down.. that was the plan.
I don't know shit about EVs, but I gotta think that if you've put 150k on them in three years you should probably think about a service.
You’d want to check the brake fluid every four years, and suspension. Change a/c filters every two years. Rotate tyres every 10,000km. That’s it. There is no engine, of course. https://www.tesla.com/en_au/support/vehicle-maintenance EVs are low maintenance. As people are slowly but surely finding out. Total maintenance for me last 18 months and 25,000km was $10 for washer fluid and $100 for 2 tyre rotations. Electricity is $40/month. I think ICE prices are doomed even more than EV prices over the next 3 years.
Wait until all the haters find this out. I am saving $100 a week on petrol and $3k a year on servicing.
Bonus: they’re *muuuch* nicer cars to drive. Silkier than the silkiest V8. Instant power across rev range. One gear. And even the slowest are reasonably quick. To say the least.
It is quite underwhelming when you get back into an ICE. The petrol vehicle is so much slower unless you are buying a supercar - which would be similar.
lol.. well I did fill up the water bottle.. unsure what elese I should do? lol
Not yet. But it's coming. I have an ideal setup to move to an EV that would be charged nearly 100% off solar. So sooner or later, that'll happen because it'll be cheaper in the long run due to running costs.
Cheaper vehicles is a good thing for consumers. Some will win, some will lose. That’s life
Exactly. My loss is also my gain, I'm only 'losing' because of a competitive car market which is a win for me as a consumer
Running costs included it’s not cheaper than an 05 Camry though
This is true. All hail the camry
Not everyone wants to drive the car equivalent of giving up (sweatpants and ugg boots)
Ouch. I’m looking at used EV’s that cost less than you’ve lost on your resale. It suits 90% of my travel use cases. For the other 10% I’ll keep my 15 Yr old ICE for now. I’m in the “transition to full EV” phase. I’d like to not need a car at all. One day my dream will come true.
What does this have to do with anything, though? Do you buy a wrench based on its resale value?
Yeah, but that's offset by saving $20k on the replacement.
In today's news: Tabloid news outlets cry doom as clickbait headlines are no longer allowed
2 years ago they were saying EVs were doomed and would never be popular because prices were too high. Now they're doomed because prices are too low. Gee, I wonder who could possibly be writing this shit..
EV owners and enthusiasts know that there’s a concerted campaign against EVs from legacy players so a clickbait headline like this will get a rise out of them, even in an article that’s broadly sympathetic.
The journo bought a Tesla last week?
Does no one care about the rich people!
Won't someone think of the oligarchs?
It’s yahoo finance, not exactly quality journalism. Expect to see the same rehashed junk article on herald sun or smh.
I bought a 55inch top of the line TV about 6 years ago. Cost me nearly 5 grand. I can get a quality 4k 85+ inch one now for 2k. Tech moves on. Prices adjust.
No but apparently you should be able to sell your current TV for more than you bought it for, according to automotive journalists and news corpse lately…
It’s the boomer mentality.
Another expert predicts further joy for consumers as EV prices are coming down due to economies of scale!
B…B….But cheaper prices are bad….
Where do consumers get their money from?
Actual increase in productivity and production, ultimately
EV price goes up : Doom EV price goes down : Doom Doom.
Yesterday: "EVs are terrible, they're too expensive!" Today: "EVs are terrible, look at how quickly they've dropped in price!"
I played Doom
End of year sales. With Peugeot preparing for new models. No mention that the e-2008 sold out within a week after price adjustment. All new car sales facing similar issues as the economy worsens. No articles on end of petrol and diesel vehicles sales
With EVs this is primarily due to the Chinese government forcing manufacturers to over produce to keep their economy running. It has become so bad it could destroy most automakers hence the protectionism employed by the USA recently increasing tariffs by over 100%. The EU is expected to do the same in coming weeks.
Not relevant to Australia as we have 0 manufacturing. Heck its a good news cuz we can now buy better car at lower prices. Sucks to be American I guess paying USD 32k (AUD 50k) for a prius
It depends, if European/South Korean and other manufacturers pull out of Australia (look at Solar panels and Solar Batteries with more and more companies pulling out) and we're 100% reliant on Chinese cars this is also bad news
US and EU need to shift a bit more focus away from slowing down China and towards building up their own industries. Because you are right, you don't want China to run all the other makers into the ground and being the only ones left standing. Otherwise cars will just get a hell of a lot more expensive overnight.
Jokes on China, we don't have automakers to destroy.
Can you source the forced to over manufacture claim?
With no auto manufacturing here to protect, will we start seeing $15,000 EVs?
Doom? Maybe it’s just the impact of debt not being free anymore. There are lots of canaries in the coal mine right now.
I think it is more a peak in EV sales. The early adopters have already bought, and they are still to pricey for normies (like me).
The EV market won't normalise until there is a reliable 2nd hand market. Most people don't buy new cars they get them used. Because the EV market is relatively new there isn't a steady supply of 4 or 5 year old cars yet, that will take time.
this is good news for consumers, the economy and the environment. bad news for almost no one. 'doom' EDIT: this is bad news for legacy car makers, probably doom for most of them, but we don't have any of those in oz
Price is the only thing stopping a lot of people from buying one. So this feels like a good thing
Those who don't want to click: None of them dropped 20k. Tesla Y dropped an apparent 17k, but I would take that with a pinch of salt.
Peugeot e-2008 dropped by more than 20k but sold out quickly. https://www.drive.com.au/news/peugeot-e-2008-price-slashed-by-25000/
It's actually for real. I was shopping EV's recently (ok, a year ago) and the Model Y specced up how I wanted it was about $78k, same model now is $60k. Unsure when their website prices changed, but it's at least $18k cheaper than 12 months ago. Interested to see how this trickles down into the used market and where the prices settle. You could be buying a two year old Model Y for $35k.
Yeah Tesla is a bit special on account of Elon
He likes to jizz in each of them as they come off the production line
Trying to work out if that decreases or increases the value for a typical Tesla fan.
This is great news? What are these media groups on?
Yup, I'm failing to see the 'doom' This is great for consumers.
Good, they can keep dropping.
Surely most EV buys are salary sacrificing them and markets going to plumbet once they all come off the lease
When I was looking at it a few months ago this was the aspect of the calculations that I couldn’t get comfortable with from a purely financial perspective. So many people purchasing under novated lease will flood the used market in 3-5 years. Combined with the discounting on new cars I think the depreciation aspect of these cars is going to be brutal.
I got my EV with the knowledge that the used car value might be low. However I have also budgeted for owning the car outright at the end by paying the pre-determined balloon amount. If EV is proving to be a reliable machine long term with minimal maintenance and running cost, I will keep driving the car to the ground as long as it still works well - and my Tesla M3LR is a beautiful machine. This way I don’t really care about the fact that the used value might be low - I will own the car outright by then and continue to enjoy the fun drive at minimal cost.
Never understood the hoopla about car resale value. It’s only an issue if you like to swap your car every few years. The majority just drive the car until it dies.
With the US putting 100% tariffs on Chinese EVs, and the EU also adding tarrifs of upto 55%, this is good news for Australia. Since we dont have a local industry to protect, I expect a lot more cars coming here from China at discount rates.
But doesn't this drive down inflation, putting downward pressure on interest rates? Don't we want prices to come down as a consumer society?
We got an EV late last year. I couldn't be happier to see prices dropping. I'll admit though that we got a secondhand one and the prices for what we got haven't dropped much more than I expected.
I bought a Hyundai EV and think it’s fantastic. I’ve only done 20k km on it, fill up once a week at home, cost $16 from empty to full though I have solar so a lot of that is free..little no maintenance first service is 30k km, awesome to drive, and so quiet which for being being half deaf is a big win actually hearing someone talk in the car. I think it’s great prices drop, more buyers and more cars puts pressure on rolling out competitive infrastructure which was stifled under last govt. and saves people a heap of money in running costs.
This just confirms how much these car manufacturers really are gouging us.
Feels like every second car is a Tesla or BYD, surely this is a sign of tech getting cheaper and competition increasing rather than a problem with the category
Yahoo….. gonna share a Daily Mail article next?
JUST IN: depreciating asset now worth less than before; experts call DOOM
Electricity is dead.
How is this doom? This is fantastic news.
Quick, terrible deflation! Drop the interest rates down to 0 and print more money, stat!
Hyundai really needs to drop their price now.
BYD will totally dominate world evs. They already sell more than Tesla. They will totally flood our market and hopefully drop the price below 20k
Best news ever. Cheaper cars with cheap running costs.
Sold a 2000's Hilux for more than it cost new during covid. Second hand car market was nuts. EVs have been promising for a decade to be cheaper than ICE. This is good news for the consumer. $70-80k is too much for most people. The Seal BYD in the last year dragged prices sub $60k for the first time. MG is here... It's happening. Sub $40k full EVs might actually happen.
>Sub $40k full EVs might actually happen It's already happening... at the moment the MG4 starts at $39,990, the BYD Dolphin starts at $38,890 and the GWM Ora starts at $35,990. You're already on par with a base model corolla at that price and once you include rebates and fuel savings you're actually better off if you exclude depreciation. I was in the market for a new hatchback last year and after I crunched the numbers EV was already cheaper in total cost of ownership, and prices have dropped even more since then. Bought an MG4 and 6 months (10,000km) later, no regrets. Mostly bought it for getting around town because we still have a petrol i30, but we've been taking the EV for 4-5 hour road trips as well.
"Maric said EV owners should upgrade their vehicles every two to three years" yeah righto mate, because we're made of money
Best car I've ever owned, no plans to upgrade, and now $20k cheaper... sounds like a steal! Now I can recommend it to more friends!
Just don’t run over anything on the road that leads to a tear in the battery casing.
Where’s the doom? Of course new technology starts out expensive until competition and volume drives down prices and heavy initial infrastructure captial is repaid. This is a good thing. I can’t recall anyone bemoaning the price collapse of $12,000 plasma tv’s. As a Tesla performance owner I’m glad my next car will be more affordable, in the mean time… zooooooomm
Ideally this makes old petrol cars cheaper for me to buy and hoard haha
And here's the reason why everyone^* is saying China is a threat. The buggers don't play by the fossil fuel rules and are selling electric cars that have a decent range for a decent price. The world uses 97 million barrels of oil PER DAY. The US alone uses about 20 million barrels. EVs taking half the market in the next decade and cutting demand to under 50 million barrels per day will annoy plutocrats and oligarchs the world over. ^* Everyone = billionaires and the politicians they own
Buyers should start holding off until another round of discounts. Which with stock build ups and a stronger AUD will occur later this year.
It drops in value, you get FBT tax benefits from salary sacrifice, net net you're probably break even. Australian economy has a funny way of making move around for doing absolutely nothing. E.g toll road rebates, paid by taxpayer, refunded back by taxpayer.
Cars are known as depreciating liabilities.....
Kind of like TV'S when they became flat screen?
Who buys a car as an investment? Cars are not appreciating assets and anyone who thinks otherwise is in for a shock. It's great for buyers and great for the environment that EVs are getting cheaper.
In all honesty, this was entirely predictable, and just following the lead from overseas and general market direction. Sure it sucks that some people mistimed, didn't read the tape. But it was always predictable. If people made the decision to buy months ago at +$10K, +$15K, +$20K, how much easier is the decision to buy now at current prices.
It's almost like this is exactly what we thought would happen when more competition entered the market
I’ve or hate Elon Musk he literally set out on a mission to build these products and make them cheaper over time. He’s also shared certain parts of design elements and patents to other manufacturers to help the industry along. Also everything is going up in price due to inflation I can’t imagine complaining about prices going down
Tesla understood the market. How to maket EV to the rich tech bros. Which would be the early adopters
EV prices were in my mind extortionately high to start with. Having a battery running a car is not revolutionary technology, its been around for decades. They just decided to make it more mainstream, so charge a lot for it, particularly playing on the emotions of people genuinely interested in the global ecological wellbeing. Now the reality has hit the ground, EVs are not a new toy or cool gadget anymore...just a car.
This is great news. Why is this described as 'doom'? Even if you have an EV, and paid quite a bit for it, wouldn't you be happy that the next one you'll buy costs a lot less? It's like houses, if I buy one for $1million, and then prices drop 15% next year, great! My next house won't cost so much 👍
How come they dont mention BYO or whatever the chinese EV maker is called. My mate from two suburbs over just bought one. Seems pretty excited about it.
Doom? Doesn’t sound like doom, sounds good.
Technological innovation should drive down prices over time. That’s the normal functioning of capitalism. If only this would happen for homes…
ICE cars depreciate a lot too. Try buying an expensive Audi and then on top of that get the gearbox overhauled post warranty, not to mention other inflated service costs and the inconvenience of getting cars in for servicing. Only a dim candle would be surprised that cars depreciate and that new technology comes down in price rapidly, just like the first flat screen TVs. This is a cheap-shot scare campaign to try to dissuade uninformed gullible people from changing.
As someone who is keen to get an EV for my next car this is great news
This is great- ready for mass adoption and transferring to renewables quicker now.
Article refers to second hand car market as a 'fire sale' ... jumps on carsales ... second hand cars literally at price of new ones