Taking the plunge in to EV

[talaipwros]

apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol';"> Lexus is offering $15,000 in lease cash off its first EV, the 2023 RZ 450e

apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol';"> Peter Johnson | Nov 8 2023 - 1:29 pm PT

apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol';">  

apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol';"> https://electrek.co/2023/11/08/lexus-offering-15000-off-first-ev-2023-rz-450e/

apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol';">  

apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol';"> Interesting 

[Malc1]

but only in USA ?

Malc

[wivenhoe]

I’m not sure of the relevance of this in the UK - half of the discount is a federal tax saving off of earnings, not off the price of the car  - https://www.fueleconomy.gov/feg/taxcenter.shtml

From a different website - the $15,000 lease cash incentive includes the $7,500 federal tax credit. We are passing along the benefit of those tax credits to customers," a spokesperson told InsideEVs.

The US government has brought in massive tax incentives for EV’s - it’s a major reason Tesla reduced their prices as one of the incentives applied to cars less than $50k. The US did all this whilst the UK government removed the subsidy on EV’s. 

[GMB]

 

I don't get it, they seem like decent cars but they are massively discounted - what's the problem?  List price £70K????

BRAND NEW - IN STOCK

Lexus RZ 450e

71.4kWh (Prem) Auto 4WD 5dr

• 10 miles
• 2023
• Automatic
• Electric

£55,060

Lexus RZ 450e

71.4kWh (Prem) Auto 4WD 5dr

• 2,300 miles
• 2023 (23 reg)
• Automatic
• Electric

£50,995

 

£3,942 below market averageRead more about our price indicator

[Tickedon]

1 hour ago, GMB said:

 

I don't get it, they seem like decent cars but they are massively discounted - what's the problem?  List price £70K????

 

That’s the problem - £70k. For a car that barely goes 200 miles on electric. it’s an awful purchase compared to pretty much any other option. 

They also don’t have real leather on any trim. 

The new similar size Porsche Macan EV starts at £70k and will go another 100 miles or so on its Battery. 

[ColinBarber]

13 hours ago, GMB said:

I don't get it, they seem like decent cars

It isn't - it's a rushed compliance car that is woefully uncompetitive. Even The Car Care Nut on YouTube, who couldn't be anymore pro Toyota/Lexus, said it wasn't a good car.

[John Adams]

19 minutes ago, ColinBarber said:

It isn't - it's a rushed compliance car that is woefully uncompetitive. Even The Car Care Nut on YouTube, who couldn't be anymore pro Toyota/Lexus, said it wasn't a good car.

Thanks Colin for rubbing it in!

I'm told by Lexus CS that the imminent software update will "significantly improve the range and useability of the car".  I hope they are right because this long term Lexus owner is very annoyed with Lexus for releasing this car  for sale without the updates they have had in the pipeline since last April.

[ColinBarber]

1 hour ago, John Adams said:

Thanks Colin for rubbing it in!

Sorry John. Yes, hopefully the new software will improve range and charging speeds (within the bounds of the technology deployed within the vehicle can allow).

[GMB]

The beginning of the end of the Electric car fashion....Looks like it?

Volvo pulling out of Polestar.   BYD flooding the market with cheap subsidised, but quite good apparently, electric vehicles.

Second hand prices going downhill rapidly.   It's not looking good for them (including Lexus offerings - particularly the blighted RZ ) but might mean some bargains for us.

On Thursday, Volvo said it would no longer provide financial support to Polestar and would look at offloading some of its 48pc stake in the company to other shareholders, including China’s Geely. (Most of the rest of Polestar is already owned by Geely chairman Eric Li.)

The news is the latest blow to Polestar, an early mover in electric cars that has struggled to keep up with premium rivals such as Tesla and which remains heavily loss-making despite its cars receiving critical acclaim.

It is also the latest rupture in the electric vehicle industry. Battery-powered cars were once predicted to dominate the vehicle market by the end of this decade, but their sense of inevitability has faded in recent months as sales slow and as targets have been pushed back.

[Malc1]

5 minutes ago, GMB said:

as sales slow and as targets have been pushed back.

but Musk has made his happy fortune  .  just reading his paycheck recently was for $69 billion and the Delaware Court is trying to upset that by saying it's unfair ............ unfair on all the poor souls buying his Tesla cars for sure  🤣

Malc

[Boomer54]

7 minutes ago, GMB said:

The beginning of the end of the Electric car fashion....Looks like it?

Volvo pulling out of Polestar.   BYD flooding the market with cheap subsidised, but quite good apparently, electric vehicles.

Second hand prices going downhill rapidly.   It's not looking good for them (including Lexus offerings - particularly the blighted RZ ) but might mean some bargains for us.

On Thursday, Volvo said it would no longer provide financial support to Polestar and would look at offloading some of its 48pc stake in the company to other shareholders, including China’s Geely. (Most of the rest of Polestar is already owned by Geely chairman Eric Li.)

The news is the latest blow to Polestar, an early mover in electric cars that has struggled to keep up with premium rivals such as Tesla and which remains heavily loss-making despite its cars receiving critical acclaim.

It is also the latest rupture in the electric vehicle industry. Battery-powered cars were once predicted to dominate the vehicle market by the end of this decade, but their sense of inevitability has faded in recent months as sales slow and as targets have been pushed back.

Well, the USA may be a 'different' market ,but the fallout appears to be right on track in Europe as well as the USA so those differences don't appear to be relevant to the underlying problems facing the EV market.

[Boomer54]

2 minutes ago, Malc1 said:

but Musk has made his happy fortune  .  just reading his paycheck recently was for $69 billion and the Delaware Court is trying to upset that by saying it's unfair ............ unfair on all the poor souls buying his Tesla cars for sure  🤣

Malc

Don't think they are 'trying' anymore. Think I read the other day that he lost that case to the shareholders. By the way that is something I never like to see as a investor. Such a rift between shareholders and founder. It really doesn't inspire me with confidence that the founder has quite got the balance right between his interests and the interests of the people who came along and gave him a buyout for his early efforts.

[GMB]

Robber Rishi and Jeremy unt are doing their bit too.   

Britain has downgraded its forecasts for the takeup of electric cars over the next seven years as higher financing costs and rising energy prices threaten to cut the incentive for drivers to replace combustion engines.

The latest forecast from the Office for Budget Responsibility (OBR), released alongside the chancellor’s autumn statement, said that just 38% of new vehicles sold in the UK in 2027 would be electric, down from the 67% it predicted in March

[GMB]

Profuse apologies for offending your eyes with this picture. But it reminds me of the film " One flew over the cuckoo's nest " The one on the right looks particularly "odd" 🤪

[Malc1]

no odder than the photographer no doubt 🤣

Malc

[Tickedon]

2 hours ago, GMB said:

Robber Rishi and Jeremy unt are doing their bit too.   

Britain has downgraded its forecasts for the takeup of electric cars over the next seven years as higher financing costs and rising energy prices threaten to cut the incentive for drivers to replace combustion engines.

The latest forecast from the Office for Budget Responsibility (OBR), released alongside the chancellor’s autumn statement, said that just 38% of new vehicles sold in the UK in 2027 would be electric, down from the 67% it predicted in March

And I suspect it’s “only” 38% because that’s the government-mandated minimum for zero emission cars they’ve legislated for to be sold and registered that year… (it’s a £15k fine for the manufacturer for each car they sell below the 38% target - unless they borrow allowances from other years or other manufacturers):

[talaipwros]

Quote

Model shown is MY23 RZ Takumi £69,095 including optional bi-tone paint at £1,100. Prices correct at time of being published.

*0% APR Representative and £4,500 Deposit Contribution only available on new retail orders of RZ between 17th January 2024 and 2nd April 2024 and registered and financed through Lexus Financial Services by 1st July 2024 on a 48 month Lexus Personal Contract Purchase (PCP) plan with 0%-35% deposit.

https://www.lexus.co.uk/latest-offers/personal/rz/rz-takumi

 

so price has gone officially down by about 5K, there is another 4.5K deposit contribution and 0% APR

 

before any other dealer's discount...

[talaipwros]

on carwow, brand new  Premium plus £53451 on 0% APR, 0 deposit

 

erm of agreement

48 months

46 monthly payments of

£633.15

RRP

£63,595.00

Carwow price

£57,950.74

Deposit

£0.00

Lexus deposit contribution

£4,500.00

Total amount of credit

£53,450.74

 

Cost of credit

£0.00

Representative APR

0%

Fixed rate of interest pa

0%

Optional final payment

£23,692.50

Mileage per annum

8000

Excess mileage charges

20p / mile

 

 

 

 

 

[talaipwros]

And for the Takumi....

 

Term of agreement

48 months

46 monthly payments of

£617.03

RRP

£67,995.00

Carwow price

£58,970.18

Deposit

£0.00

Lexus deposit contribution

£4,500.00

Total amount of credit

£54,470.18

Total amount payable

£58,970.18

Cost of credit

£0.00

Representative APR

0%

Fixed rate of interest pa

0%

Optional final payment

£25,470.00

Mileage per annum

8000

Excess mileage charges

20p / mile

 

 

[talaipwros]

and finally, a brand new premim plus on carwow, the best I could find at a fraction over 50K, 0%

 

Carwow PCP offer

£573.40 / month

You save

£12,952(20.4%)

Offer expires in 27 days

Term of agreement

48 months

46 monthly payments of

£573.40

RRP

£63,595.00

Carwow price

£55,142.18

Deposit

£0.00

Lexus deposit contribution

£4,500.00

Total amount of credit

£50,642.18

Total amount payable

£55,142.18

Cost of credit

£0.00

Representative APR

0%

Fixed rate of interest pa

0%

Optional final payment

£23,692.50

Mileage per annum

8000

Excess mileage charges

20p / mile