[harry8]

Almost everyone puchased will be driven to that extent. Person A from 0-125k selling it to person B who drvies it to 200k selling to person C who drives it to 375k selling it to person D who ...

The car lasts and is driven after it is traded by it's first owner if it remains in good condition. Toyota and their Corolla brand has /EARNED/ the right to be at the top of the tree on that count and maintained it over many decades.

[selcuka]

Yes, but there is no incentive for Person A to choose a brand new Corolla when it's $22K and the alternative is $15K. The value depreciation when they sell to person B will be lower than the Corolla, especially when factoring the fuel savings in.

[rayiner]

Why do you think there will be a lower value depreciation for a Chinese EV than a Toyota? Toyotas have insane resale value. We bought a 2012 Toyota 4Runner used for $30,000 in 2016. KBB on it now, at 12 years old and 130,000 miles, is still $15-18k.

[selcuka]

> Why do you think there will be a lower value depreciation for a Chinese EV than a Toyota?

Because it's cheaper to buy and cheaper to drive.

Let's start with your example (12 years, 130K miles, 50% depreciation). Let's assume that the EV depreciates much more (80%):

Corolla value depreciation = $11K

BYD Value depreciation: $12K

From a purely financial perspective, it doesn't mean to invest $22K instead of $15K for a $1K gain after 12 years.

Now the calculation above does not take the energy costs into account [1]:

Petrol cost @ 130K miles = $20K

Electric cost @ 130K miles = $4.5K

[1] https://avt.inl.gov/sites/default/files/pdf/fsev/costs.pdf

[0x3333]

Nailed it, that's the point. I don't know why people love cars that last forever, even if financially it doesn't make sense for the first owner.

[toomuchtodo]

Because they’re emotionally tied to the idea of longevity vs service life.

[lannisterstark]

>Yes, but there is no incentive for Person A to choose a brand new Corolla when it's $22K and the alternative is $15K

"Hey I know Corollas last a while, and wtf is this weird-ass company I've never heard of? I'm sticking with Toyota."

^ Incentive enough.

[kgabis]

In a few years it'll be like "Oh, it's BYD, they're everywhere right now, of course I'll buy it second hand".

[smugma]

I bought a 2002 Corolla in 2011, gave it to a relative in 2019, who recently sold it for more than half what I paid 12 years prior.

Not 500k km but past 300k ie your point is spot on

[bmitc]

Is there data around this? I have personally never seen a personal car much beyond 200,000 miles.

[BenjiWiebe]

In my circle of friends/family/neighbors/acquaintances, it's common to have a vehicle over 200k miles. Over 300k is noteworthy but not unheard of. Both of my cars are over 275k (bought them a little before the 250k mark).

One guy I see regularly is driving a 400k mile minivan. At my previous job I saw a customer driving a 500k mile Corolla, as well as a couple of customers with 400k, and countless over 200k.

This is in Kansas.

[shepherdjerred]

My 2004 Ford Mustang had 382k miles. This is the best picture I have (did you know that Google Photos can search for "odometer"??)

https://photos.app.goo.gl/rKMXEzRkR7NauPaB9

I received the car at about 370k miles, drove it about 10k more for ~2 years in college. The only problem I ever had with it was the battery sucked in the winter.

[safetytrick]

I think they are talking kilometers

[generalizations]

I have a '97 Jeep XJ at ~214,000 miles. They do exist :)

[toomuchtodo]

Hasn't rusted through?

[generalizations]

Nope. That's mostly (I guess?) an issue in places with a lot of winter months that use salt on the roads instead of sand. It's had a bit of rust, but nothing a buzzbox welder and some steel sheets couldn't patch.