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Speculating about the next years, Fred Lambert writes that once there are good all-electric options across the car market internal combustion engines will be as good as dead.
Before 2025, there's going to be a point where there's not going to be a single car buyer in their right mind who's going to want to buy a new gasoline car. Not a single one. Because they're going to look at the market, they're going to look at what's out there, and all the different electric car models that are out there now. By that point, by 2025, there's going to be dozens and dozens of more EV models than what's available today. And attractive ones!
It's going to be hard for someone to justify buying a gas-powered car at that point, because they're going to think about the resale value of it.
I think the resale value of gasoline cars is going to drop massively in the next five years, and predicted value is going to drop even more drastically. Buying a gasoline car right now is a bad choice. Buying a gasoline car within the next five years is going to be just a financial suicide for most people.
Earlier on SN:
Every Electric Vehicle on Sale in the US for 2019 and Its Range (2019)
Australian Plan to Ban Petrol and Diesel Cars (2019)
Have We Reached Peak Car? (2018)
(Score: 0) by Anonymous Coward on Wednesday July 10 2019, @05:58AM (1 child)
Go buy an electric car now, so your friends can laugh at you for years to come.
Even if electric cars will mostly replace gasoline cars in next ten years, there is no reason to buy them before gasoline cars amount drops below 10-20 percents. Because as with any new technology, electric cars will become better and better almost each year, and your todays expensive ultra-modern electric car will become a piece of crap tomorrow, and you will be able to buy a much better one for 1/3 of the initial price of your current car. If you value your money, don't fall into early adopter trap.
(Score: 0) by Anonymous Coward on Wednesday July 10 2019, @04:47PM
I'm not laughing at my semi-retired friend, he's had three of the tiny smart-E electric cars so far. It's his primary car in terms of use--commute between his house and shop across a smaller city and/or a few errands, plenty of range for his daily needs and the operating costs are very low. He and his wife also have a gasoline powered car for any long trips.
The first two he leased, for exactly the reason you mention, expecting that the next one in 2-3 years would be better. However, what he found before starting the 3rd lease was that the used market had plenty of these with very low mileage, and the price to own was similar to the cost of a three year lease.
If you are interested in an electric car (except Tesla?), check the used market because these (including Nissan Leaf) seem to depreciate very quickly. If there aren't any in your area, check the big cities (NY City, LA), it may be worth having one trucked to your location.