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Old 1st January 2020, 17:37   #31
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Default Re: Resale value of electric cars

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What if they ask for 30 days lead time for new battery pack to arrive. And owner or taxi operator refuses to pay EMI saying my car is not useable saar, why should I pay EMI ? What does a bank do with such a vehicle, which has a just replaced battery pack, why should anyone else repose faith in such a vehicle ? Why should people take such a risk especially if the company is known for poor record in honouring their warranties.
How is this any different from IC engine cars.
If one needs a engine replacement, the timeline can stretch upto a month or more depending on the popularity of the car. Will any owner not pay his EMI just because the car is not working?

E2O and Revas are discontinued and obviously the service and spares availability will suffer. This also happens with IC engine cars.

The resale value will depend on the popularity of the model in the market and how it fares against the competition.

Traditionally EVs have not fared well in the used car market because of lack of awareness and lack of viable models. I sold my E2O after 2.5 years and with 24000Kms for a price which I thought was fair.

Globally resale value of EVs are on par with fossil fueled cars. We might see a similar trend in India as well.
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Old 1st January 2020, 18:12   #32
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Default Re: Resale value of electric cars

I would expect the resale value of EVs to be healthier than ICE cars for the next 10 to 15 years or so.

This so because ICE cars will have a tighter usable life defined by law. Many ICE owners will with time be under pressure, by regulation, to sell/scrap their cars and replace with EVs. Some of this demand will get met by the production of new EVs but there will be a substantial spill over driven by buying power that will veer towards second hand EVs. Eventually resale price by 2040 or so will be not very different from that of ICE cars today. Another factor which we cannot accurately judge today will be the impact of the two factors of the battery life/quick replacement facility and the fact that EVs will wear and tear less than a conventional ICE.

As we all know if we wish to leave behind a livable planet to our grand children one of the changes we need to make is to outgrow our ICE vehicles. The other is to switch as soon as possible (will take 3 to 4 decades) to renewable energy.
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Old 1st January 2020, 18:19   #33
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Default Re: Resale value of electric cars

This would entirely depend on the warranty/service guarantee on the battery pack, isn't it. Considering that it is the single largest component on an EV and can be easily replaced (the ease, not the cost), if the battery has a long enough warranty period or can be changed at a reasonable price, this might actually create a secondary market for them.

I do feel that it will take a while for there to be an organized used car market; cost is not the only apprehension people have in going for EVs. So, a pre-owned EV will be met with more skepticism than a new one. Once EVs prove their operability in the next ~5, maybe 10 years, we'll have a better idea.
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