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- Jan 21, 2005
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- Mittel England
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- Smart ForFour AMG Black Series Night Edition Premium Plus 125 Powered by Brabus
Just done a quick and simple check on Autotrader. The earliest Teslas in the UK were registered in 2014 so very close to 10 years old now so well into the oft cited 8-10 year life span.That depends on the actual usable lifespan of these vehicles. A second owner who buys at 3 years old and keeps it for 3 or 4 years will be OK assuming it has an 8 year battery warranty. But when they come to sell with 2 years or less of manufacturers warranty left the value of the car will reflect that, given that most manufacturers have been quite open about an expected lifespan of 8-10 years. IMHO nobody in their right mind is going to spend serious money on a well used BEV with little or no warranty left. From a quick Google Tesla's own 'certified pre-owned' (used car) warranty only applies up to a maximum of 5 years or 60k miles (whichever comes first). The battery and drive unit warranty always remains based on the date of first sale, and cannot be extended.
Speaking of warranties we can be reasonably confident that Ford, Mercedes, BMW, etc. will still be around 8 years from now to honour their warranties. But that very likely won't be the case for all the newer/smaller 'EV only' companies that are springing up now. If one of those folds and the warranty disappears the value of used cars from them would likely crash overnight. Or are these warranties independently backed?
There are 19 for sale, the least expensive is £15,990 with 116k miles, the most expensive is £37,495 with 114k miles, and there are 14 cars priced at more than £20k (74% of those available).
At the time it was seen by the motoring press as an EV alternative for the the BMW 5-series, and at around that time the 5-series was regarded (by the press) as one of the very best cars in the real world.
The same search criteria shows 219 5-series for sale. The least expensive is £4,490 with 188k miles, the most expensive is £20,995 with 43k miles, and just 1 car priced at more than £20k (0.5% of those available).
Arguments like there being far fewer Model S, the average mileage of 5-series being higher, the average new cost of the 5-series being lower - and others - are probably all valid reasons for some of the price difference at 10 years old.
However it seems the market doesn’t agree with a hypothesis that you’d have to be mad to buy an 8-10 year old EV. With advances over the last ten years then I would imagine the confidence in a 2024 model will only be greater in 10 years time.