Guilty as charged
Should the government be allowed to meddle in the automotive arena? They encouraged us to buy expensive diesels, then ensured greater depreciation by dissing them a few years later.
Now they are about to make us go all-electric. There’s a problem here for the car makers: much of their legacy investment in traditional cars will be lost while R&D costs escalate during the changeover.
The effect for us consumers is that electric cars will continue to be expensive while the makers recoup their costs but then, as the technology matures, prices will fall. So if you are forced to buy in the early years of that transition, you could later see new cars costing less than a reasonable trade-in price of your old one. Horrendous depreciation looms for early adopters.
There’s a positive side, though. Gas-guzzlers will all become classics overnight. Nothing like them will be made again. Time to pick your perfect car for life – spend extravagantly as there will be no depreciation. Patrick Littlehales West Sussex