Month: August 2024

Daily News 8 Aug 2024

Secondhand electric car market “booms” as drivers hunt for ‘middle-aged’ models

By Paul Homewood

h/t Ian Magness

The Telegraph have totally lost the plot now!

Bargain-hunting consumers are fuelling a surge in used electric vehicle (EV) sales amid a slowdown in the new car market.

Some 46,773 secondhand electric cars changed hands from April to June this year, an increase of 53pc compared to the same period last year.

That represented a record 2.4pc share of total used sales, up from 1.7pc previously, according to the Society for Motor Manufacturers and Traders (SMMT).

Petrol and diesel vehicles accounted for 92.4pc combined, with hybrids making up the remainder.

https://www.telegraph.co.uk/business/2024/08/08/used-electric-car-sales-surge-50pc-despite-broader-slowdown/

There has been no “surge in demand” for second-hand EVs. There are simply more of them on the market, as three year old cars reach the end of their leases, reflecting the increase in new EV sales in 2021. (Remember too that car sales were depressed during the lockdowns in 2020).

And as the market has been flooded, the value of second hand EVs has plummeted. As the Telegraph notes, although new EVs typically cost £10,000 more than a proper car, second hand prices are little different.

This is not “good news”, as the SMMT’s Mike Hawes believes; it is horrific news for new buyers, who now face crippling depreciation. And as more and more EVs find their way into the second hand market, second hand values will go even lower.

Meanwhile, even car renters don’t want to buy EVs:

As ever, the comments section exposes the Telegraph’s nonsense:

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August 8, 2024 at 04:21AM

Daily News 8 Aug 2024

Germany Green Transition Collapse: Electric Vehicle Sales Plummet 47% In First Half of This Year!

From the NoTricksZone

By P Gosselin

91% of German e-car dealerships see current order situation as “poor” or “very poor” for the year.

Politicians in Germany had been racing to eliminate fossil fuel cars and replace them with e-cars. But then the technical and economic realities began to sink in – especially among private consumers, who are turning their backs on them in droves!

They should have listened to real science instead of all the activist funded rubbish.

Online German national daily ‘Welt’ here reports how electric car sales among private consumers in the first half of 2024 have fallen through the floor, dropping a whopping 47% compared to a year earlier. The massive drop is a major setback in the country’s rush to going “carbon neutral.”

Hat-tip: Blackout News

“Germans are becoming increasingly skeptical about electric cars. Current figures from car dealerships reveal an escalation in rejection,” reports ‘Welt‘. Especially private customers are rejecting e-vehicles. Hybrid cars are also seeing a massive drop, with sales plummeting 37% over the same period.

“Dealerships are not expecting any improvement for the second half of the year,” reports ‘Welt‘. “Of the car dealerships surveyed, 91% rate the order situation among private customers for purely electric cars as ‘poor’ or ‘very poor’ for the year as a whole.”

Meanwhile petrol and diesel engine car sales have risen 24% and 20% respectively.

Buyers have become turned off by the lousy national charging infrastructure, range limitations and high costs. Moreover, many consumers have begun to understand that e-cars are not that green after all and pose their own set of environmental challenges. Owning an e-car offers very few benefits, but come with high costs.

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August 8, 2024 at 04:07AM

Daily News 8 Aug 2024

UN’s new climate disaster fund at risk of mismanagement

By Paul Homewood

London, 8 August: A new paper published by the Global Warming Policy Foundation warns that the UN’s new loss-and-damage fund, set up by the UN climate summit last year to assist communities hit by extreme weather disasters, is at risk of being mismanaged and turning into a massive boondoggle instead.
Dr Ralph Alexander, the paper’s author, warns that climate funding over the past 15–20 years has habitually failed communities who needed it most. And there has been a shocking lack of transparency and accountability in distribution of UN climate funding.
This short paper addresses the questions of where the money from the proposed disaster loss-and-damage fund will go; on what basis; who will decide and who should be paid.
Dr Ralph Alexander said:
“It is unlikely that the loss-and-damage fund will ever reach its intended goal of effective disaster funding. There will be intense infighting and delays in getting funding to those in the most need. Such problems could be avoided through a trigger-based funding mechanism for delivering funds directly to affected communities – which could be implemented most effectively through the smallest, most agile agencies with direct experience in disaster funding.”
Ralph Alexander: The Climate Disaster Fund (pdf)

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August 8, 2024 at 04:00AM