So When Will We See EV Prices Actually Go down?

hazwing on 14/05/2023 - 23:41

So I've been exploring the possibility of purchasing an EV vehicle while the government has this FBT exemption for EV vehicles.

I'm tossing up whether to try pick up something now or wait until EV prices go down. However with inflation, low supply and high demand, it seems like EV vehicles are actually going up in price (generally)?? The FBT exemption is going to be reviewed in 2027, so there is a chance it might end by that time. The longer I wait, the less time I could have the vehicle FBT free.

So should I wait until there is more stock and competition for EVs, or should I get something now? Current model of ICE works fine, so from a practical point of view I don't NEED to upgrade now. But also concerned ICE values will drop quicker as EVs become more prevalent.

Automotive Electric Vehicle

Comments

- - - - JimmyF on 15/05/2023 - 22:20
        
        @netjock:
        
        It is like you just find your own facts and other people’s facts are FUD
        
        LOL Yes drive.com.au is all about FUD, they are the ones reporting the $50k average.
        
        I'm still waiting for your 'source' of the average new car price that you plucked from thin air.
        
        It is not the first time you come out like you just drank the cool aid.
        
        The one carrying on like they are drunk on cool aid is the one making up random prices and dribbling about toilet paper stampedes from 3 years ago. All things that have nothing related to what is being discussed.
        
        netjock on 15/05/2023 - 22:20
        
        -1
        
        @JimmyF: Blah blah blah
        
        JimmyF on 15/05/2023 - 22:21
        
        @netjock: proves my point, too childish to provide 'facts' to back up your waffle.
        
        netjock on 15/05/2023 - 22:24
        
        @JimmyF: Just got better stuff to do than to deal with your continued badgering.
        
        What price you put on time.
        
        We’ve been through this before.
        
        Remember the smartest person is probably the one that says nothing.
        
        I’ve got way more productive stuff to do.
        
        I know you got skin in the game because you own an EV and don’t want to look stupid.
        
        We are done…
        
        JimmyF on 15/05/2023 - 22:42
        
        +1
        
        @netjock:
        
        Just got better stuff to do than to deal with your continued badgering.
        
        LOL badgering, you felt the need to made some unproven claims to me, so I provided some 'facts' to counter the silliness, you then doubled down with more unproven claims. Who is really badgering who?
        
        I know you got skin in the game because you own an EV and don’t want to look stupid.
        
        and you can't afford one…. But yet again, not sure what that has to do with the average new car price being $50k. I didn't make the $50k figure up, go have a whinge to drive.com.au, they are the ones reporting it.
        
        It honestly doesn't concern me what the average figure is. I buy the car I want to drive within my budget.
        
        netjock on 16/05/2023 - 00:05
        
        @JimmyF: “You can’t afford one” as a come back LOL
        
        JimmyF on 16/05/2023 - 09:39
        
        @netjock:
        
        “You can’t afford one” as a come back LOL
        
        But tell me I'm wrong then? As your comments are very anti EV, people don't need to spend more than $25k on car aka I can't afford anything more than that, so why should you.
        
        netjock on 16/05/2023 - 10:58
        
        @JimmyF:
        
        But tell me I'm wrong then?
        
        You are wrong.
        
        Do you want me to pull your hair, spank you and tell you how bad of a girl you've been?
        
        You are like a Duracell bunny, just can't stop. Obviously a lot of people are living in your head, you need to get it checked out.
        
        If I bought everything I wanted to afford I'd be out of money, out of storage space and that is not the way to build wealth.
        
        people don't need to spend more than $25k on car
        
        You obviously haven't heard of people who drive 15 yo Corollas but financially independent. I am also against the $3m super super tax. So what does that tell you?
        
        You are like a car full of clowns crashing into a gold mine.
        
        JimmyF on 16/05/2023 - 11:01
        
        @netjock:
        
        Do you want me to pull your hair, spank you and tell you how bad of a girl you've been?
        
        Such a child
        
        If I bought everything I wanted to afford I'd be out of money
        
        So can't afford an EV
        
        You obviously haven't heard of people who drive 15 yo Corollas but financially independent
        
        You really struggle to understand what is being talked about. We are talking AVERAGE NEW CAR PRICE.
        
        You are like a car full of clowns crashing into a gold mine.
        
        and you can't follow what the topic is about and keep trying to invent new topics to 'win' some random point of view that doesn't apply.
        
        netjock on 16/05/2023 - 21:34
        
        @JimmyF: You know the new joke is: "how do you know someone is an EV driver? They'll tell you about it…"
        
        You still have a hard time distinguishing between a statement, a question and and argument.
        
        JimmyF on 16/05/2023 - 21:57
        
        @netjock:
        
        You know the new joke is: "how do you know someone is an EV driver? They'll tell you about it…"
        
        Once again, trying to invert a new angle that is unrelated to the thread…. But cool lets go with it, so for SAG point me to the bit that I 'told you about my EV' in this thread as claimed?
        
        netjock on 16/05/2023 - 22:22
        
        @JimmyF: It isn't a new angle.
        
        It is just the same angle. You're just trying to invent an angle.
        
        You can't understand the simple meaning of average of a single product line (Rav 4 vs Tesla Model 3 or Model Y), average for the segment and average for all cars.
        
        I rest my case.
        
        Just stringing you along to see how bad you could get. It is pretty bad.
        
        JimmyF on 16/05/2023 - 22:50
        
        @netjock:
        
        It is just the same angle. You're just trying to invent an angle.
        
        LOL you raised this angle, not me. But as I thought, can't find what you claimed was said as I didn't say it.
        
        I rest my case.
        
        What case? That the 'average' person is buying a $25k car? LOL drive.com.au will disagree with you. The 3rd most sold car in Australia also disagrees with you.
        
        Just stringing you along to see how bad you could get. It is pretty bad.
        
        Oh its bad, its just not the way you think it is.
        
        netjock on 17/05/2023 - 09:23
        
        @JimmyF:
        
        That the 'average' person
        
        Average in height, weight and age? Good luck getting all three. You have no idea how averages are constructed.
        
        There isn't even an average car that fits the price. It is just an average price. You can't go into a dealer and say I want an average car at this price. You are just chewing on a bone that doesn't exist.
        
        Been trying to tell you that since the beginning
        
        JimmyF on 17/05/2023 - 09:32
        
        @netjock:
        
        There isn't even an average car that fits the price
        
        LOL, RAV4 falls smack bang in the average price range people are paying as claimed by drive.com.au, The shock part is, it is the 3rd best seller in Australia.
        
        You can't go into a dealer and say I want an average car at this price. You are just chewing on a bone that doesn't exist.
        
        What waffle are you on about? The average new car sale price is around $50k including onroads and options.
        
        Look it is ok not to be able to afford something, its not ok to attack people because they can.
        
        netjock on 17/05/2023 - 09:40
        
        @JimmyF:
        
        RAV4 falls smack bang in the average price range people are paying
        
        There is no range in average. RAV4 might cover the range.
        
        So does Hilux available from $24,225 to $70,200 for the 2023 range of models in Dual Cab, Extra Cab and Single Cab body types.
        
        The 2023 Ford Ranger line-up opens at $36,180 before on-road costs, with the Baja-ready Raptor topping the range at $86,790 before on-roads
        
        So your point is? That you don't understand the different between average and price band?
        
        The average new car sale price is around $50k including onroads and options
        
        Find me the average specification, the model that fits at exactly that average price?
        
        You actually don't understand averages. You actually don't understand the range (upper and lower bounds) that goes into those averages.
        
        JimmyF on 17/05/2023 - 09:44
        
        @netjock:
        
        Find me the average specification, the model that fits at exactly that average price?
        
        Shows you don't understand averages if you think every car sold has to be exactly for $50k.
        
        netjock on 17/05/2023 - 09:48
        
        @JimmyF: You are the one who believe that it actually means something, like you value your life on it.
        
        Nobody cares what the average is. It is your argument of value.
        
        leiiv on 16/05/2023 - 23:06
        
        +2
        
        @netjock:
        
        I rest my case.
        
        And what was your case again?
        
        From my impartial point of view (don't own any car ATM, but had owned few Honda and Toyotas), most of your posts do not make sense and lack of substance. The insults even make it worse.
        
        netjock on 17/05/2023 - 09:21
        
        @leiiv: Yeah took you that long to turn up.
        
        EVs have limited choices and limited prices. The lowest price EV is much more expensive than lowest price ICE. Even if you believe the average new car is $50k nobody is average. The average can still be the same but the low and the highs can be much different. You can't look at car market as a whole there is segments. Top selling cars always has utes in top 3 and they are expensive increasing the average but would you say the model 3 is the same utility and purpose?
        
        For someone who is taking public transport and needs a faster mode of transport a $25k new car is a lot more affordable up front than a $45k EV. The time saved and accessibility is huge. You can argue total lifetime cost of ownership of Tesla is cheaper but if you're on $45k gross would you put 1.5x your gross salary into a Tesla?
        
        That is just the tip of the problem.
        
        I don't care what people think I can afford. It is the internet. I can tell people I fly private chartered everywhere then I can call people poor but who is doing checks.
        
        JimmyF on 17/05/2023 - 09:37
        
        @netjock:
        
        The average can still be the same but the low and the highs can be much different. You can't look at car market as a whole there is segments. Top selling cars
        
        LOL keep telling yourself that. The top selling car in Australia is the RAV4, it starts at $42k, tops out just over $60k. Sounds like it falls smack bang in the 'average' price people are spending on.
        
        Sure not everyone spends $50k, some spend $20k like you, others spend $150k. But it you look at new car prices, the big sellers are not anywhere near your $25k price point.
        
        For someone who is taking public transport and needs a faster mode of transport a $25k new car is a lot more affordable up front than a $45k EV
        
        LOL, then that $20 Kia is more affordable than a $25k car, a $5k 2nd hand car is even more affordable.
        
        I don't care what people think I can afford
        
        I don't care what you can afford either, but you need to stop telling other people what they can and can't buy because you can't join in.
        
        netjock on 17/05/2023 - 09:43
        
        @JimmyF: Same waffle as above
        
        There is no range in average. RAV4 might cover the range.
        
        So does Hilux available from $24,225 to $70,200 for the 2023 range of models in Dual Cab, Extra Cab and Single Cab body types.
        
        The 2023 Ford Ranger line-up opens at $36,180 before on-road costs, with the Baja-ready Raptor topping the range at $86,790 before on-roads
        
        So your point is? That you don't understand the different between average and price band?
        
        Find me the average specification, the model that fits at exactly that average price?
        
        You actually don't understand averages. You actually don't understand the range (upper and lower bounds) that goes into those averages.
        
        you need to stop telling other people what they can and can't buy
        
        I am just telling you that you don't understand statistics.
        
        JimmyF on 17/05/2023 - 09:47
        
        @netjock:
        
        The 2023 Ford Ranger line-up opens at $36,180 before on-road costs, with the Baja-ready Raptor topping the range at $86,790 before on-roads
        That you don't understand the different between average and price band?
        
        So you don't understand the different between price bands of a product, and what the average price of the product is sold out.
        
        I am just telling you that you I don't understand statistics.
        
        We know….
        
        netjock on 17/05/2023 - 09:48
        
        @JimmyF:
        
        So you don't understand the different between price bands of a product, and what the average price of the product is sold out.
        
        What does that even mean?
        
        netjock on 17/05/2023 - 09:51
        
        @JimmyF:
        
        So you don't understand the different between price bands of a product, and what the average price of the product is sold out.
        
        I gave you 2 products with their price bands. HiLux, Ranger and RAV4. Are they the same thing? Do buyers cross shop these products?
        
        Your $50k average is for all vehicles defined as car but obviously different products for different users.
        
        I see you are prepared to die on the hill arguing our average is actually some how cross shopped with EVs to which there is not even a ute available.
        
        JimmyF on 17/05/2023 - 09:59
        
        @netjock:
        
        I see you are prepared to die on the hill arguing our average is actually some how cross shopped with EVs to which there is not even a ute available.
        
        You're the only one who keeps talking about EVs, not me.
        
        Might want to brush up on your google skills, there are EV utes now, but the price is a little rich for you.
        
        netjock on 17/05/2023 - 10:11
        
        @JimmyF: You still can't prove RAV4 is sold at average $50k
        
        Neither can you prove Ranger or HiLux sells on average $50k
        
        You're the only one who keeps talking about EVs, not me
        
        Did you forget which thread you are commenting about?
        
        JimmyF on 17/05/2023 - 10:29
        
        @netjock:
        
        You still can't prove RAV4 is sold at average $50k
        
        I don't need to 'prove' anything to you, go take your beef up with drive.com.au who is reporting the figure if you disagree with it.
        
        Why don't you go look up the RAV4 sales figures by model and then look up the price of that model. You might be surprised.
        
        Did you forget which thread you are commenting about?
        
        Not at all, but all my comments have been around the average new price of cars is $50k as reported by drive.com.au. You keep trying to turn this into a some EV vs poor person debate that people only buy $25k cars at most.
        
        netjock on 17/05/2023 - 10:41
        
        @JimmyF:
        
        I don't need to 'prove' anything to you, go take your beef up with drive.com.au who is reporting the figure if you disagree with it.
        
        They are right. Just that you didn't know how the average is constructed.
        
        To you original comment that average car price is $50k and there is EVs cheaper than $50k. I implied you were using wrong measure. EVs do not have the product or price range to compare EV prices with the $50k average.
        
        JimmyF on 17/05/2023 - 11:28
        
        @netjock:
        
        To you original comment that average car price is $50k and there is EVs cheaper than $50k
        
        Both these statements are correct, the average new car sales price in Australia is $50k as reported by drive.com.au (infact its higher in the east cost pushing $54k, WA and TAS bring the 'average' down), and there are EVs cheaper than $50k.
        
        EVs do not have the product or price range to compare EV prices with the $50k average.
        
        There are EVs sub $50k, the Atto3 isn't a badly spec'd car for the price and not far off its ICE equal.
        
        Again, you buy what you can afford, others will buy what they can afford.
        
        netjock on 17/05/2023 - 12:07
        
        @JimmyF:
        
        Again, you buy what you can afford, others will buy what they can afford.
        
        It isn't even about this. You seem to like to tell people what they can and can't afford.
        
        Both these statements are correct, the average new car sales price in Australia is $50k as reported by drive.com.au
        
        In isolation they are. Not when you say they are comparable because they are not. The average includes utes which are top 2 of the top 3. You are not even comparing the same thing. It still haven't settled in.
        
        JimmyF on 17/05/2023 - 13:02
        
        @netjock:
        
        You seem to like to tell people what they can and can't afford.
        
        Things that haven't happened. But you on the other hand have told me many times that people don't pay $50k for a new car. LOL
        
        In isolation they are. Not when you say they are comparable because they are not
        
        Based on the recent new car purchases for the people at work, $50k seems about right. Most are spending mid $50k's give or take a bit. GASP someone even got a EV too in that price range!
        
        Again, you buy what you can afford, others will buy what they can afford. Everyone is happy.
GordonD on 15/05/2023 - 11:28

+6

In its early years Tesla lost billions every quarter. It is now making billions every quarter. By continuing to sell its cars at about the same price it introduced them at.

Teslas have gotten cheaper. To build. But that reduction in build cost, instead of showing up in falling showroom prices, has gone to clawing back the huge losses Tesla made in the years it was establishing itself as the new guy in the car industry selling a revolutionary new product to early adopters.
- RockyRaccoon on 15/05/2023 - 13:20
  
  While it might have changed, just be aware of corporate spin - second only to political spin for accuracy.
  
  https://edition.cnn.com/2021/01/31/investing/tesla-profitabi… (read for more details why)
  
  New York
  CNN Business
  —
  Tesla posted its first full year of net income in 2020 – but not because of sales to its customers.
  - GordonD on 16/05/2023 - 10:44
    
    Good point. I was aware of this, but hadn't seen any reports of how much of Tesla's income and profitability came from it.
  - hothed on 18/05/2023 - 00:07
    
    This is a very old article. Anything recent?
hazwing on 15/05/2023 - 14:09

I guess part of the question is whether they will drop enough in price to outweigh the loss in years you could have it FBT free.

I believe FBT on a work car for full personal purposes is 20% of the purchase price. So say if you paid around $65000 for an EV, your FBT liability should be around $13,000 each year (if they didn't have this exemption). And the business (I'm self employed) would get the depreciation and pay all the running costs, as a tax deductible expense.

But I'm not an accountant, so I hope I've got my maths and tax facts right.
- netjock on 15/05/2023 - 16:48
  
  +1
  
  Good point that FBT only applies to employees of companies.
  
  If you are owner you could get away with a lot. You see dual cab utes doing school drop offs. You don't think they keep a log book of the private kilometers (and also utes are FBT free for vote buying purposes but don't tell the regular tax payers that).
- Poor Ass on 16/05/2023 - 07:12
  
  I work in this industry let me know if you got any questions
  
  20% is the after-tax contribution or ECM under the statutory method to your employer and not the FBT liability (that's something different but can occur) Depending on the arrangement usually it can be in the form of paid vehicle expenses or cash.
  
  It's funny how you have your own business and know about the 20% and private use vs business use. Most business owners would just do 100% business use any car regardless of FBT exemptions or how it is used.
  
  So there is a difference in accounting if you are treating yourself as an paid employee or just employer but using the company car bought outright / on loan.
  
  My opinion is if you have your own business don't worry about the FBT exemptions. There's always ways around it. Also for sure there will be more options in the future so if you don't need an EV or plug in now, just wait until you do or give it a year for delivery times if you decide to go ahead
  - seannami on 16/05/2023 - 07:36
    
    Do you know how it works if the NVL doesn't include electricity costs? Does millage become tax deductable on my personal return, or is it still technically the employer's? Admittedly I can just reimburse any business use from the employer (when I remember) and just deduct the parking, but it'd be good to know.
    - Poor Ass on 16/05/2023 - 09:43
      
      need more info and depends what kind of NL you are in and also the arrangement
      
      4.2c per km rule for home charging can be reimbursed to you if you are packaging that. You might want to call your NL provider it's a new rule.
      
      Or you can get an actual smart meter and an electricity bill to get reimbursed, or fast charger bill etc etc
      
      But if you are able to get it reimbursed then don't need to put on your tax return
      
      parking is separate arrangement
      
      PM me?
      
      I haven't got enough info to help you out
      - seannami on 16/05/2023 - 09:47
        
        @Poor Ass: No packaging of the power in the NVL. The reimbursement is sending a travel request to work based on the KMs not the power cost.
        
        Thanks for the offer, it was more out of interest than anything, I can just run a travel request through work if it comes to it.
        
        Poor Ass on 16/05/2023 - 09:50
        
        @seannami: how much does work give you per km for the travel request?
      - Adz12 on 16/05/2023 - 14:33
        
        @Poor Ass: can you please go into more depth on this 4.2c per KM for home charging? Is there any links you can provide?
        
        Poor Ass on 16/05/2023 - 14:38
        
        @Adz12: https://www.ato.gov.au/law/view/document?docid=DPC/PCG2023D1…
        
        there ya go mate
        
        Adz12 on 16/05/2023 - 14:54
        
        @Poor Ass: awesome, I wonder if people who have novated lease already will then be able to get electricity costs reimbursed
        
        Poor Ass on 16/05/2023 - 15:00
        
        @Adz12: they should if their novated lease provider are pros like me
  - hazwing on 16/05/2023 - 15:18
    
    yeah the 20% is statutory method, instead of log book. It's hard for me to actually claim a work vehicle for work purposes, most of it will be for personal (travelling to and from work). Can I PM my situation to make sure I've got it correct?
    - Poor Ass on 16/05/2023 - 15:23
      
      Yeah sure
      
      There are ways around it
- seannami on 16/05/2023 - 07:34
  
  I don't know if the business can take all the running costs as tax deductable since it is a vehicle "supplied for private use" and they have no way of telling what is business and what is personal. My employer allows us to claim reimbursement for business millage so I'd imagine that would be tax deductable (but I can't claim on personal tax), but I don't think they could plausibly deduct insurance, rego etc. cause they couldn't work out how much was private use. Though admittedly my NVL company hasn't quite gotten to calculating electricity in the costs, so who knows, might have to ask a tax accountant.
  
  If you did a normal salary sacrifice of the car, you'd have to somehow prove it was majority business. Tradies probably could be all over it, not so much government employees etc.
  - Poor Ass on 16/05/2023 - 09:50
    
    If you have a novated lease and EV FBT Exempt or even not and you are packaging the lease repayments and running expenses then your employer will have nothing to tax deduct
    
    Their only tax deduction is your wages because you are funding the car
    
    if you did a normal novated lease you don't need to prove business or private use
lostgoat on 15/05/2023 - 18:12

+1

Sorry I've finally woken up . EV prices are going down dramatically not just due to tech but the most expensive resource lithium falling to 33% of previous highs . https://tradingeconomics.com/commodity/lithium
- WhyAmICommenting on 16/05/2023 - 09:11
  
  Why is the price of lithium falling?
  - MessyG on 16/05/2023 - 12:25
    
    That link explains it well.
    - WhyAmICommenting on 16/05/2023 - 13:53
      
      Interesting, thanks. I read it a bit more properly this time ;)
      
      Environmentally, I’d think we should be hoping to find an alternative to lithium in the medium to long term. It’s probably being looked at already.
lazybones1987 on 16/05/2023 - 06:37

As we see more models from various manufacturers, the prices should eventually come down a little.
The problem right now is that with the exception of Tesla and maybe BYD, most other manufacturers are making a loss or very little profit on an EV. Even though these are established ICE brands, they are treating the EV segment as a start up.
Cluster on 16/05/2023 - 09:55

+1

EVs are slowly falling in price, but ICE vehicle prices have climbed over the past few years and are not falling. The gap is closing, but not the way people expect it to.

Wait a few years and the price difference between comparable EV and ICE will be $10k.
Dack Smith on 16/05/2023 - 11:41

+1

Not likely when you got the smug alert going

EVs are like a social standing indicator now
- us3rnam3tak3n on 16/05/2023 - 13:52
  
  Just like mobile phones in the 80s and early 90s
- Cluster on 16/05/2023 - 15:00
  
  +1
  
  Owning a Prius in 2001-2005 was a symbol of smugness. Hollywood celebrities were even buying them. Now? A hybrid Corolla costs less than 10% more than the standard petrol model. Hybrids are everywhere, and no one pays any attention. The hate squads have moved over to lambasting EVs.
  - greatlamp on 16/05/2023 - 22:46
    
    -1
    
    At 65k for a model 3, it's hardly a status symbol. Just noise from ignorant people who have been trained to focus on the handful of virtue signalling activists.
    
    Most people consider an EV because electricity is cheaper than petrol. End of story. They don't care about the environment
    - leiiv on 16/05/2023 - 23:12
      
      And they don't produce exhaust gases around where you walk, live, etc.
idonotknowwhy on 16/05/2023 - 11:44

-1

Are EVs these days like smartphones, where after 12 months, the battery capacity is like 83% of it's original capacity?
- Cluster on 16/05/2023 - 12:08
  
  +4
  
  Quality EVs have active battery management and cooling systems, and avoid charging to 100% capacity. The battery does degrade, but nowhere near the pace of a mobile battery.
  - tunzafun001 on 17/05/2023 - 21:26
    
    Very simple in Oz, keep batteries as cool as you can and both will last fine.
    
    Reference 2014 PHEV, 2018 solar batteries, using 6yr old $45 when new Nokia 3.
    
    Phone is actually fairing the best, then solar, then the car. Sometimes you just cant keep the car out of the heat.
  - idonotknowwhy on 18/05/2023 - 09:44
    
    avoid charging to 100% capacity.
    
    I've been using the built-in feature on my Xperia to only charge up to 80%, since day one.
    And yeah, 83% of original capacity after 12 months.
ozpaisa on 16/05/2023 - 11:52

+1

There will be quite a few ev companies from China and India in the next 3-5 years that would sell in Aus by then. It will bring downward pressure on cars.

I saw few under 20k cars on my visit this year. This is just the start.
- Cluster on 16/05/2023 - 15:02
  
  China has a wide variety of cheap 'city EVs', but they wouldn't qualify as cars in Australia. I welcome the competition however, and maybe we can finally get the EV boom going. Right now it's luke warm in terms of Australian sales.
Gaz1 on 16/05/2023 - 15:10

So should I wait until there is more stock and competition for EVs, or should I get something now?
Current model of ICE works fine, so from a practical point of view I don't NEED to upgrade now.

These are interesting comments that probably are in the minds of a lot of people. Hopefully it won't just be a "trendy" thing to do.
I'm not sure if it is environmentally better to buy an EV you don't need (with all the production, mining & shipping implications) & what is going to happen if there is a mass disposal of ICE vehicles at some stage. I guess in the near future people with less money will buy ICE vehicles because they are cheap but it is an interesting situation.
The time frame of this changeover has implications for most people too.

But also concerned ICE values will drop quicker as EVs become more prevalent.

I guess this is a complex issue that depends if the EV cost, charging cost & depreciation, etc will offset the drop in value of ICE vehicles & their running costs.
ttt888 on 16/05/2023 - 16:26

When Tesla start selling model 2 suppose to be their budget model.

In 1 to 2 years time.

Once that happens all other brands will be selling their budget range too. Etc.
Herbse on 16/05/2023 - 16:34

All car prices are only going up. Thanks to high demand and low stock.

The only time prices will slow down is if there's a new player that can keep up with the demand.

Currently it's the Chinese market, they have lots of stock and is the reason you are seeing so many Havals, Saic, BYD's around. People need a car and they're available and cheap. Same thing happened in the 80s with Japanese cars and they took over the world.

BYD, GM and Haval will have more EV models coming out and their pricing will dictate what the market looks like.
morebunnings on 16/05/2023 - 17:29

https://arstechnica.com/cars/2023/04/tesla-built-more-cars-t…

Supply/demand might finally be putting some downward pressure on pricing.
taki on 16/05/2023 - 22:14

When BYD Seagull or other micro EVs come from China, the prices will fall.
- [Deactivated] on 17/05/2023 - 08:12
  
  Not coming here. The Dolphin is. While they teased the Dolphin at kind of cheap prices, it's actually just going to end up being $40k like everything else. With no competition, why bother making them cheap?
  - surg3on on 17/05/2023 - 13:17
    
    $40k is cheap for an EV with any reasonable range
    - [Deactivated] on 17/05/2023 - 19:31
      
      Europe has cheaper EVs than than that, let alone all the other countries, so no. Do you know what site you're on?
      - surg3on on 18/05/2023 - 09:05
        
        @[Deactivated]: put up or shut up. Outside norway show me a european car with Dolphin range (400+km) for less than 40k AUD driveaway.
        
        [Deactivated] on 18/05/2023 - 09:48
        
        @surg3on: 400km? Hilarious. I didn't realize "reasonable range" meant more than most EVs currently for sale in Australia. Makes sense, if you think $40k is cheap, then you would think 400km is reasonable.
        
        surg3on on 19/05/2023 - 13:53
        
        @[Deactivated]: you cant say the dolphin is 'too expensive' then compare it against EVs with half the range.
        
        [Deactivated] on 19/05/2023 - 17:13
        
        -1
        
        @surg3on: It was initially teased at: https://www.carexpert.com.au/car-news/byd-dolphin-ev-costs-2… Soon became years later, and $25k became $40k, because there is no competition and no reason to make it any cheaper.
        
        At no point did I call it "too expensive" nor did I compare it to anything with double the range. I won't be wasting any more of my time on someone that just makes up quotes.
        
        surg3on on 20/05/2023 - 08:41
        
        @[Deactivated]: You never did show me the 'cheap' EV
  - Creamsoda on 17/05/2023 - 18:13
    
    The version of the Dolphin we get here will be different than the domestic China version with longer body made for 5 star NCAP.
idonteven on 17/05/2023 - 07:27

Used Tesla Model Y prices have been dropping. Get in on it!
- madseason on 17/05/2023 - 08:39
  
  Unfortunately you can't get used EV's with the FBT exemption, gotta get a nice new one.
  - idonteven on 17/05/2023 - 09:01
    
    +1
    
    Ah okay. Still the facts stand, there are more Y and 3. People should use the time now to buy them whilst supply is higher than the demand.
  - eek on 18/05/2023 - 12:19
    
    You can, so long as it was first registered after July 2022….but you won't get a nice GST exemption from a private sale, so really not worth it…unless it's from a dealer.
tinmancactus on 17/05/2023 - 09:07

What’s your current car worth if you sold it today? And what does it cost to run it? (rego, insurance, maintenance and fuel)

For me that’s $6k and $4k.

Assume a 5-year lease for a $45k EV.
That works out to $7,956 per year.
Or $2,756 more than my current car per year.

Add on 10% of the total cost to factor in missed super due to salary sacrifice.

That works out to $17,758 more than my current car over 5 years.

Of course there’s a residual payment of about $12,650, but a $45k car would be worth about $25k after 5 years.

So if you were to sell it after 5 years it works out to $5,407.50 total additional cost to have an EV.

Given the benefits (fun to drive, V2L, no fumes) that seems worth it to me.

And of course if your car is worth more than $6k it quickly becomes a lot more attractive!
hopper on 17/05/2023 - 10:59

When demand goes down
plmko on 17/05/2023 - 11:06

The more pressing issue is where are the pretty EVs?

Life's too short for an ugly car to cost you $50k+
- [Deactivated] on 17/05/2023 - 11:13
  
  Pretty usually costs extra, and is subjective, but BYD U9, MG Cyberster and BYD Seagull on the cheap look good IMO.
- Cluster on 17/05/2023 - 11:56
  
  People need time to get used to the look of an EV. For over 120 years we've expected a grill on the front of a car, but now that's not required.
- madseason on 17/05/2023 - 12:40
  
  +1
  
  I personally think that the Hyundai Ioniq 5 is a stunning looking car, have you seen one in the wild yet?
- surg3on on 17/05/2023 - 15:05
  
  +1
  
  KiaEV6 is niiiice
surg3on on 17/05/2023 - 13:16

Given inflation the price in raw number will never go down barring some huge battery discovery. They will become a smaller % of your pay packet eventually.
- Gaz1 on 17/05/2023 - 14:02
  
  I suspect mass competition from a lot of new players will put pressure on pricing, especially if supply exceeds demand.
  - surg3on on 17/05/2023 - 15:05
    
    From what ive read BYD make $1500 bucks on the sale of an Atto3. Theres no fat to cut there. Inflation itself is likely to outpace the drop in lithium prices as new mines come online but im happy to be wrong!
Herbse on 17/05/2023 - 15:57

MG 4 just released their price. $44k plus on road costs.
So far seems to be the cheapest Ev we will have had.

If they can keep up with demand, then we will see a downward trend in prices in the future.
Insision on 17/05/2023 - 19:39

When all supply from manufacture will b back to normal & more competition in market example ldv mpv is comin soon electric
tunzafun001 on 17/05/2023 - 21:31

Havent read the middle comments (seems a $hit fight in there), but the cheapest running fine Mitsi Phev I saw was $11k in 2019. Last year an Imiev sold for $6k.
So you can get something that will do 40km in EV mode fairly cheap.
- THICKnSLOW on 18/05/2023 - 10:39
  
  One solitary Imiev sold for $6K, could be a lemon being sold for parts, we have no idea the condition of it whether it is fully functional or a total liability.
  
  I recommend against purchasing 2nd hand EV. A phev on the other hand is OK.

So When Will We See EV Prices Actually Go down?

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