DPA Again, a little more cars will be registered in Europe – but not in Britain, which has been hit hard by Brexit Demand in the European car market has not fallen for the first time in eight months last month. In May, new registrations in the European Union rose compared to the same month… Continue reading Slight plus after eight months: new registrations of new cars in Europe are increasing again
Tag: VW
Simplify complexity, save costs: VW creates new software unit with 5000 digital experts
Volkswagen Christian Senger, Software Director at Volkswagen (Bild Archiv) The software in the car industry is becoming increasingly important. In Volkswagen cars alone, up to 70 control units with operating software from 200 suppliers are integrated. Volkswagen wants to simplify the software architecture in the vehicles and bundle its competences in a new unit with… Continue reading Simplify complexity, save costs: VW creates new software unit with 5000 digital experts
Ikea buys part of Opel terrain
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Electric vehicles: VW grants eight years or 160,000 km on the battery
Volkswagen is the battery in all Electric car series ID grant a warranty of eight years or 160,000 km for at least 70 percent of its capacity. June 18, 2019, 8:45 am, Andreas Donath The first member of the ID family is ID.3. (Image: Volkswagen) The Volkswagen ID3 is to be equipped with extensive warranty… Continue reading Electric vehicles: VW grants eight years or 160,000 km on the battery
Truckmaker Volvo to partner with Nvidia to develop AI for driverless vehicles
STOCKHOLM (Reuters) – Sweden’s AB Volvo is joining forces with U.S. chipmaker Nvidia to develop artificial intelligence used in self-driving trucks, the companies said on Tuesday. FILE PHOTO: A Volvo logo is pictured on the stand during the 87th International Motor Show at Palexpo in Geneva, Switzerland, March 7, 2017. REUTERS/Denis Balibouse The agreement between… Continue reading Truckmaker Volvo to partner with Nvidia to develop AI for driverless vehicles
Beyond Tesla, electric cars lose value faster than other vehicles
Lower maintenance and repair needs plus lower energy costs can make a very convincing case for electric car ownership.
The same isn’t always true for those who own vehicles the old-fashioned way, going with what’s new and fresh every three years or so, before trading it in for the next. Then, electric vehicles have an issue that can turn the math on its side: appalling resale value.
The average new electric vehicle loses 56.6 percent of its original value in three years, according to the car-deal search engine iSeeCars. The average among all kinds of vehicles is 38.2 percent of depreciation over three years.
The depreciation is from its sticker price, so it doesn’t include things like a potential EV tax credit of up to $7,500—which not every buyer may be able to claim.
In a recent analysis, iSeeCars found that the Fiat 500e had the steepest value plunge among EVs. Its average three-year-old used price was just $10,358—a depreciation of nearly 70 percent from its original price. The BMW i3 after three years cost just $19,784, which was a 63-percent cut from its original price. The Nissan Leaf (despite hints of an uptick last year) and Volkswagen e-Golf also posted steep value losses of nearly 60 percent over three years.
2018 BMW i3s
The Ford Fusion Energi was also called out by iSeeCars a plunge in value that was nearly as steep as that of those EVs. The Fusion Energi is worth just $15,983 after three years.
The new trends come from an analysis of more than 4.8 million car sales, comparing average price weighted by sales volume for vehicles sold between January and May 2019 with those of the same model sold between January and May 2019, adjusting for inflation via the U.S. Bureau of Labor Statistics.
2019 Tesla Model S
Tesla is an exception to the rule, though—and proof that EVs don’t have to be resale-value money pits. After three years, the average Tesla Model S remains worth a strong $57,517, according to iSeeCars, which is just a 17.1-percent reduction from its price when new.
For nearly all the other non-Tesla models, these losses help enforce the value of leasing (under what are in many case highly subsidized offers), while purchasing may only make sense when planning to keep an EV over a longer timeline.
All of the electric models that lost the largest chunk of their original value are short-range models. One of the keys to success (and a signal of success) for the new long-range fully electric vehicles is that they escape the pull of strong depreciation. With the first Chevrolet Bolt EVs due to near that three-year mark early next year—and the new ones in their tax-credit phaseout—we’ll start getting some answers on whether that's the case in a matter of months.
Opel “satisfied” with first orders for the Corsa-e
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UK firms join to develop ‘world-leading’ EV powertrain
A new British consortium aims to design and develop a global-use, world-leading fully electric powertrain with funding from the Advanced Propulsion Centre (APC). Led by GKN Automotive, a tier one electric vehicle driveline supplier, has joined up with Drive System Design and the University of Nottingham as part of the £8m project – doubled by… Continue reading UK firms join to develop ‘world-leading’ EV powertrain
Car industry: “Car.Software”: VW wants to bundle and expand software development
Electric car ID.3 from VW VW wants to bundle and expand software development. (Photo: AFP) DusseldorfVolkswagen wants to bundle and expand its software competences. In the new unit “Car.Software” more than 5000 digital experts should be summarized by 2025, announced VW on Tuesday. In the course of the increasing software share in the vehicles, by… Continue reading Car industry: “Car.Software”: VW wants to bundle and expand software development
Volkswagen aims to boost in-house software development to 60% by 2025
FILE PHOTO: The logo of Volkswagen carmaker is seen at the entrance of a showroom in Nice, France, April 8, 2019. REUTERS/Eric Gaillard/File Photo BERLIN (Reuters) – Volkswagen said on Tuesday it would put 5,000 digital experts into a new unit called “Car.Software” by 2025 as the German carmaker aims to develop at least 60%… Continue reading Volkswagen aims to boost in-house software development to 60% by 2025