EV Lobby Hates The Fact That EVs Cost Too Much

Spread the love

From NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

h/t Ian Magness

From Sky News:

Drivers leasing new electric cars are being overcharged by hundreds of pounds each month, it has been claimed.

Companies have been accused of failing to reflect the strong resale value of cleaner cars when they set their prices, according to clean transport campaign group Transport & Environment (T&E).

The monthly cost is typically based on a vehicle’s expected depreciation over the period of the contract – often three or four years.

But leases for new battery electric vehicles are, on average, 51% more expensive than their petrol counterparts, despite analysis suggesting EVs do not go down in value faster than traditionally-fuelled cars.

For example, an electric VW ID.3, costs around £605 a month, while a petrol VW Golf is offered at £376.

The report found that leasing companies still consider electric cars to be “new and uncertain products”, which is an “outdated” approach.

T&E electric fleets lead Ralph Palmer said: “Customers are being overcharged by leasing companies if they want to switch to an electric car.

“Leasing firms are too conservative when setting their monthly prices.

“Their rates reflect the state of play from five years ago.

“With this pricing strategy, their profits are obviously high and consumers are overpaying to go electric.

“If leasing companies‘ prices reflected the realities of the market, more consumers would have access to affordable new EVs (electric vehicles).”

https://news.sky.com/story/drivers-leasing-new-electric-cars-being-overcharged-by-hundreds-of-pounds-each-month-claims-clean-transport-group-12821578

I’d like to know who is funding the EV lobby, as they continually get this sort of biased coverage by the media. And shame on Sky for not seeing through the propaganda.

They should know that car leasing is a free market, and it is not up to the EV lobby to tell it what prices to charge. If lease rates really are too high, other leasing firms will quickly undercut them.

The EV lobby might not like it, but the market knows best, and the experts at the leasing companies will have looked at their costings very carefully.

Indeed, far from overcharging, there is a very real risk that lease companies could be stocking up potential losses, with second hand prices for EVs falling as larger numbers appear on the market, whilst at the same time there is little demand for them.

After all, an EV with 75,000 miles on the clock. not untypical for company cars, would be virtually worthless given that the battery would be near the end of its life.