No one wants used EVs, making new ones a tougher sell too

[RadX]

On 3/25/2025 at 10:21 AM, Lala81 said:

high tech, quiet, more city driving torque.

My friends all 100% going EV liao for their next purchase. 

 

Soooooooo when?😂😂

[Lala81]

On 3/25/2025 at 10:22 AM, RadX said:

Soooooooo when?😂😂

no money cannot slap face to act bui bui.

MRT and bus!

 

[Throttle2]

On 3/25/2025 at 10:05 AM, Beehive3783 said:

EV is still a niche category in SG context, so new adopters probably pay more to build up the insurance "pool", if you know what i mean.

Yes, no rush in buying EV for me.  Chill….

[Freeder]

On 3/25/2025 at 11:14 AM, tjyand said:

Everyone makes a huge deal of how EVs allow huge savings on petrol. Thing is, govt reclaims to lost fuel duties through substantially higher road taxes.
 

If you don’t have your own charging, you also pay markups for the charging at public chargers. Much higher depreciation as well due to ev technology improving at a much faster rate (kind of like how new iPhone model is released every year). Almost zero parf rebate due to ev incentives netting off against parf value. 
 

with all these factors, wondering what is the plus point of EVs? Maybe the gurus here can share. 

Those who really own one can say they are going with the flow n got spare cash to throw n so on🤭

Those wannabes don’t own one but post a lot from their experiences n travels are typical sinkies🤭 , u cannot change them one.Boomers as it is..

And lastly the tee kees (Iron Teeth) group who still insist on ICE cars at the moment but Mebbe will change in the next 5 yrs ..

 

 

[RadX]

On 3/25/2025 at 10:56 AM, Freeder said:

Those who really own one can say they are going with the flow n got spare cash to throw n so on🤭

Those wannabes don’t own one but post a lot from their experiences n travels are typical sinkies🤭 , u cannot change them one.Boomers as it is..

And lastly the tee kees (Iron Teeth) group who still insist on ICE cars at the moment but Mebbe will change in the next 5 yrs ..

 

 

And fourth like yiu

 

still in Vw workshop😂😂

[Voodooman]

On 3/25/2025 at 10:14 AM, tjyand said:

Everyone makes a huge deal of how EVs allow huge savings on petrol. Thing is, govt reclaims to lost fuel duties through substantially higher road taxes.
 

If you don’t have your own charging, you also pay markups for the charging at public chargers. Much higher depreciation as well due to ev technology improving at a much faster rate (kind of like how new iPhone model is released every year). Almost zero parf rebate due to ev incentives netting off against parf value. 
 

with all these factors, wondering what is the plus point of EVs? Maybe the gurus here can share. 

Have you done the maths? 

[Voodooman]

On 3/25/2025 at 10:05 AM, Beehive3783 said:

EV is still a niche category in SG context, so new adopters probably pay more to build up the insurance "pool", if you know what i mean.

Could be EV is faster with instant torque, in the hands of inexperienced drivers, it might be more prone to incident. 

[RadX]

On 3/25/2025 at 11:25 AM, Voodooman said:

Have you done the maths? 

Lai liao Lai liao… captain ev..😂

[Voodooman]

On 3/25/2025 at 11:27 AM, RadX said:

Lai liao Lai liao… captain ev..😂

Just trying to find out if he is richer than you.  😂

[Kklim]

Not considering EV coz in-laws' small town in Malaysia only has 3 charging points: one at BYD dealer, another at Volvo dealer, third in car park of old three-quarters dead mall

[Playtime]

On 3/21/2025 at 3:31 PM, Tohto said:

For me drive into any mall or car park,  most of the time EV charging is near lift or entrance. Most of the time lot available. Park there,  plug in the charge. Go my shopping or walk around,  return back unplug and auto charge to my CC.

The question is 5 years from now, will this still be true if % of EV increased exponentially? Most people would be charging at evening peak hours. 

If we bet on a revolution in battery tech that eliminated long charging times and endurance, any EV bought now would be almost worthless😐... like buying a old button only  Nokia just before touch screen smart phones come out 🤔

Imo... anyone buying now could be better off getting a hybrid first.  Or getting a tested ICE, wait a few years for new EV generation to emerge. 

[Throttle2]

On 3/25/2025 at 11:47 AM, Voodooman said:

Just trying to find out if he is richer than you.  😂

Confirm richer lah

 

[inlinesix]

On 3/25/2025 at 11:14 AM, tjyand said:

Everyone makes a huge deal of how EVs allow huge savings on petrol. Thing is, govt reclaims to lost fuel duties through substantially higher road taxes.
 

If you don’t have your own charging, you also pay markups for the charging at public chargers. Much higher depreciation as well due to ev technology improving at a much faster rate (kind of like how new iPhone model is released every year). Almost zero parf rebate due to ev incentives netting off against parf value. 
 

with all these factors, wondering what is the plus point of EVs? Maybe the gurus here can share. 

How about NO dealers margin?🤔🤭

[Heartlander]

On 3/24/2025 at 10:05 PM, Voodooman said:

Interesting discussion. Let's use actual statistics and expected loss to see if it is true.

Based on US statistics of EV and ICE vehicle fire which you can google.

EVs vs. Gasoline Vehicles Fire:

Data from the National Transportation Safety Board (NTSB) indicates that EVs are involved in approximately 25 fires per 100,000 vehicles sold, while gasoline-powered vehicles have a rate of about 1,530 fires per 100,000. 

Premium vs Expected loss

Expected Loss = Probability x Loss if realized x Insured/ Market Value

EV: 25/100,000 x 100% (assume zero recovery) x 200,000 = $50

ICE: 1530/100,000 x 50% (assume 50% recovery, which is generous for ICE fire) x 200,000 = $1530

Think EV insurance should be lower by $1480 vs ICE insurance based on the vehicle fire statistics in the US. EV higher premium is not likely due to fire risk but other factors. 

 

Insurance premium higher is not due to potential fire probability but guaranteed much higher repair cost when accident. And if got fire, most likely will cover adjacent vehicle(s) and maybe property damage, thus much higher claims also.

[Freeder]

On 3/25/2025 at 1:07 PM, Playtime said:

The question is 5 years from now, will this still be true if % of EV increased exponentially? Most people would be charging at evening peak hours. 

If we bet on a revolution in battery tech that eliminated long charging times and endurance, any EV bought now would be almost worthless😐... like buying a old button only  Nokia just before touch screen smart phones come out 🤔

Imo... anyone buying now could be better off getting a hybrid first.  Or getting a tested ICE, wait a few years for new EV generation to emerge. 

The problem is all are rich and it doesn’t matter if it’s a Nokia or Ericsson.. So one can only kaki gong kaki song yah..🤭

[Ginyu]

No wonder the Germans are struggling. One gain is the other loss🤣

Edited March 25 by Ginyu

[Voodooman]

On 3/25/2025 at 1:17 PM, Heartlander said:

Insurance premium higher is not due to potential fire probability but guaranteed much higher repair cost when accident. And if got fire, most likely will cover adjacent vehicle(s) and maybe property damage, thus much higher claims also.

We have already assumed total loss for a EV in any fire. 

Not trying to argue for the sake of arguing but with ICE cars 61 times more likely to catch fire based on real world statistics (1530/25=61.2), based on your logic, every EV fire will need to result in 61 times more damages to third parties to justify the same insurance premium. 

The gap cannot be explained by collateral damages. 

Source: Data from the National Transportation Safety Board (NTSB) indicates that EVs are involved in approximately 25 fires per 100,000 vehicles sold, while gasoline-powered vehicles have a rate of about 1,530 fires per 100,000. 

 

[Beregond]

On 3/25/2025 at 4:25 PM, Voodooman said:

We have already assumed total loss for a EV in any fire. 

Not trying to argue for the sake of arguing but with ICE cars 61 times more likely to catch fire based on real world statistics (1530/25=61.2), based on your logic, every EV fire will need to result in 61 times more damages to third parties to justify the same insurance premium. 

The gap cannot be explained by collateral damages. 

Source: Data from the National Transportation Safety Board (NTSB) indicates that EVs are involved in approximately 25 fires per 100,000 vehicles sold, while gasoline-powered vehicles have a rate of about 1,530 fires per 100,000. 

 

ICE car catch fire then not total lost meh?🤔🤔

Base on all the cases of ice fire this year.

I doubt any of the car can be save.

( those park beside kenna the paint work dun count).