despite costing less to maintain, they have higher damage-repair costs and, also, higher depreciation
Not to mention the initial cost price is higher than the better known ICE vehicles with the ICE having no range or top up anxiety or a midnight prowl looking for a charge that is both available and works. Less to maintain?? Would that be until the main toxic battery pack decides to start to light up a smoke or just pack it in. Here I was thinking there was a push to stamp out smoking.to all the suckers out there that bought an ELECTRIC Car.....
If Hertz sells all 20000 EV's as indicated, there will be 20000 more 'suckers' - they will however get them at depreciated rates and will of course 'save' on filling costs.As for insurance costs - if you can get it:
https://www.carsales.com.au/editorial/details/are-electric-cars-expensive-to-insure-120689/
Excerpt:
Tesla owners offered comprehensive car insurance through 'InsureMyTesla' (underwritten by QBE) were left in the lurch after the insurer withdrew from that sector of the market back in February. According to QBE, as quoted in the Sydney Morning Herald the catalyst for pulling the plug was "a higher-than-expected cost of servicing Tesla policies". That was after the insurer had raised the premiums by 50 per cent in an attempt to absorb that cost.
The above article was written back in Sept 2019 - perhaps a little dated, so a more up to date assessment:
https://www.ratecity.com.au/car-insurance/articles/evs-cost-insure
Excerpt:
According to the ICA, factors contributing to the higher average premium cost for insuring EVs compared to ICE cars include:
EVs are generally more expensive to purchase than ICE vehicles
EV technology and parts (such as batteries) are more expensive to produce and replace, are often non-interchangeable, and often need to be imported to Australia via limited supply chains
There are fewer EV service centres around Australia that can repair electric vehicles (particularly in regional areas), so vehicles may need to be transported to a distant location to be repaired
Repairing EVs requires specialty tradespeople, and there are fewer of these qualified technicians in Australia
Dealing with damaged EV batteries is time and labour consuming, and requires specialty equipment and disposal (recycling) methods
Information about EV batteries (such as their expected lifespan) is not always available, which can be a barrier to purchasing and insuring EVs
As with everything, buyer beware. If one wishes, go out and buy the latest - it may be the greatest but then again, maybe not. EV's are certainly not the best for the environment. AIMO
