Cross-posted from Energy Trends Insider
|My Leaf parked in front of a seventies vintage Ford Pinto (my first car was a Pinto). Car technology has come a long way.|
“They [Leafs] are good enough that, as an expert in this field, we will be looking again at our residual value forecasts for LEAF and probably revising them upwards. Long-term battery life has been a definite concern for used EV buyers but the new figures from Nissan effectively remove this worry.Coincidentally, my neighbor pulled up in front of my house the other day in a 2012 Leaf with 11,000 miles on it that she had just purchased at a Honda dealer for $13,000. As an early adopter, I paid $35,000-$7,500 tax credit = $27.500 for my 2011, which recently crossed 30,000 miles and has performed flawlessly with the exception of a flat tire, two new sets of wiper blades, and a failed key fob.
“Really, Nissan has gone through a process with the LEAF similar to Toyota with the first generation Prius several years ago, where the cars had to be proven in real life conditions before used buyers could feel confident. Now, the Prius enjoys excellent residuals and the LEAF should start to find a similar level of market acceptance.”
|Leaf with trailer in Home Depot parking lot|
New Leafs have a 6.6kW on board charger compared to my 3.3 kW one. They also have a heat pump instead of resistance heating elements and a more heat resistant, higher capacity battery. Four or five years from now I will have to decide to spend roughly $6,000 to replace the battery or get another car. On the plus side, a Leaf with a new battery would perform like a new car. I’m guessing that a Leaf with a worn out battery will have very low resale value because the new owner will have to put a new pack in it. The electric motor is likely to outlive the rest of the car. Time will tell.
|Photo taken last year.|
I’ve read a few times that low gas prices have been hurting EV sales while improving SUV sales, and if true, I would not be surprised. If the day ever comes that there are enough electric cars to measurably impact oil demand, there will be a tendency for lower demand to reduce oil prices, eventually stimulating more oil consumption (SUV sales), and up and down it will go. Displacing oil isn’t going to be as easy as displacing coal, which has three strong competitors in natural gas, hydro, and nuclear.