The depressing reality of buying an EV: Especially bad resale [ADMIN WARNING: NO POLITICS]

[ryannix123]

Yes, losing money. Not $60,000 per...

Yes, I was wrong on the $60k loss per EV. It's much worse:
Ford Lost $130,000 on Every EV It Sold in the First Quarter.

Sponsored

 

[RickMachE]

Accounting 101...

 

[Rudy Bega]

This is why I leased mine. I wasn't 100% sure I wanted to jump into EVs permanently, and for whatever reason Ford was making leasing very attractive at the time.

I plan to purchase a different USED Mach E when my lease is up since the buyout price for my lease is now pure comedy.

Me too, lease is good right now

 

[Sikkun]

Apparently if you own a EV you become miserable and create online accounts to share your misery.

 

[rreddy3]

It's a long-term bet for Ford, and I hope it pays off. The stock market doesn't share the enthusiasm for Ford like it did/does for Tesla.

I think that’s largely because analysts treat Tesla like a tech company and Ford like a legacy manufacturing company. The markets seem to love tech.

 

[ryannix123]

I don't think anyone is miserable here; it's just that we're sharing concerns about EVs in general. I love my MME and plan to keep it for a long time.

There is nothing wrong with lamenting that ten months ago, I paid roughly the same price for a used MME Premium with 6k miles as what a new one is selling for today. It's an EV specific industry-wide issue, too.

 

[ryannix123]

I think that’s largely because analysts treat Tesla like a tech company and Ford like a legacy manufacturing company. The markets seem to love tech.

True, and these EVs are software-defined vehicles. Tesla sweats every detail in the process, and it's built a lot of scar tissue to its current success.

 

[Sikkun]

I don't think anyone is miserable here; it's just that we're sharing concerns about EVs in general. I love my MME and plan to keep it for a long time.

There is nothing wrong with lamenting that ten months ago, I paid roughly the same price for a used MME Premium with 6k miles as what a new one is selling for today. It's an EV specific industry-wide issue, too.

Oh no, you bought a car during a time period where they were vastly over priced.

And, wait, new ones came down in price.

We are upset new cars, got cheaper?

Damnit Ford, raise the price of the Mach E to 100k so we can all be happy again.

 

[ryannix123]

Oh no, you bought a car during a time period where they were vastly over priced.

And, wait, new ones came down in price.

We are upset new cars, got cheaper?

Damnit Ford, raise the price of the Mach E to 100k so we can all be happy again.

That's not the point, and your comments aren't constructive.

The facts:

1. Ford is losing a lot of money on every EV they sell. EV sales are down 20%, too.
2. Customers are seeing a massive depreciation on nearly every EV purchased.

 

[Clockwork]

Yes, I was wrong on the $60k loss per EV. It's much worse:
Ford Lost $130,000 on Every EV It Sold in the First Quarter.

That includes sunk costs like R&D and other expenses required to get thing up and running. The cost of just manufacturing isn't that much per unit, and they are selling for more than that cost.

People talk about these "loss per EV" numbers like they are tossing $60k (or $130k) in the fire every time they build one. That's not the case. It is money already spent. The more they sell the more that number goes down.

 

[locks66]

My 2015 ICE Mustang depreciated 90% in value by the time I sold it.

Guess I should never buy a car to turn a profit.

Well anyway.

Toyota bZ4X is a thing also.

This. I have 90k miles on my 21 an, and even with a trade-in,am either slightly above or below what I owe at this point.

We had 2 years where cars all theof adden became appreciating assets.

That's not normal.

I get the frustration, but you also didn't buy a model 3 for 60k only to have the manufacture make it a 35k car shortly after.

I tend to upgrade cars more than I should as all money people will tell you drive it into the ground. And I get that a huge chunk of the population upgrade besfore we ever pay off cars.

I could complain, but in my 3 years I ,have had 0 maintenance besides tires, wipers, and fluids. I have saved so much more money

 

[ryannix123]

That includes sunk costs like R&D and other expenses required to get thing up and running. The cost of just manufacturing isn't that much per unit, and they are selling for more than that cost.

People talk about these "loss per EV" numbers like they are tossing $60k (or $130k) in the fire every time they build one. That's not the case. It is money already spent. The more they sell the more that number goes down.

I understand the idea of amortizing a company's initial investment in a new vertical. However, as I cited previously, Ford's EV sales are down 20%. As a result, they're losing even more money per vehicle.

 

[DesignMatters]

And yet you own one.

It is like wearing a Kansas City Chiefs hat and suggesting that all KC fans are morons.

Your reading compression needs work. ??

 

[Guss-E 2021]

Meh,

I'm $19K underwater on my car but $260+ on my home. Of course I'm far more likely to sell my car than my house but then there are those HELOC thingies ?.

I did not buy my car to make or even save money. I wanted electric and was willing to pay for it. The quality of driving life and reducing my carbon footprint are totally worth it to me. Your mileage may vary (pun intended). Given the minimal amount of moving parts and maintenance in conjunction with the latest data on battery degradation (it is minor over the long haul), I will be driving Sheeba for a good long time.

By the time I pay off my car (and I plan on paying it off early), based on my meticulous mileage tracking, I'll only have 75K on the odometer and will still have warranty coverage on the battery (by both years and mileage).

No regrets.

 

[agoldman]

21 regular GT 40k miles sold to carvana for 29k in July.

Sponsored