News

The future of used electric cars

The production of new electric cars is expanding, but the increase in production costs causes higher prices, so new electric cars have become less available to more customers. Some countries, such as China, use subsidies to help manufacturers be more competitive in the market, making their cars more accessible to more customers. But what about used electric cars?

At the Oxford EV Summit, Tesla UK Sales and Delivery Manager, Michael Oates, spoke on the topic of used electric vehicles and their position in the future. He believes that used electric vehicles will play an important role in the transition to sustainable forms of transportation.

“After the early adopters of electric cars, we need to start getting in front of those for whom an electric car is not necessarily a choice for their next (car) purchase. That’s why I believe used cars are absolutely crucial to ensure that as many people as possible can experience owning and driving an electric car, ” said Michael Oates.

According to Cox Automotive, demand for used electric vehicles in the US is on the rise, primarily due to their cost. In the UK, sales of used electric vehicles rose by 81 percent to 30,645 units.

Certainly, anyone who wants to buy an electric car in the future should also consider buying a used EV.

Source: CNBC

News

Will Saudi Arabia be the new leader in EV production?

Saudi Arabia is the world’s largest oil producer, and a few years ago it announced that it wanted to transform its economy by the end of the decade. Vision 2030 is based on “a vibrant society, a prosperous economy and an ambitious nation”. Development of the financial sector, digitization and privatization program of state-owned properties to attract foreign investment, and the vision includes a plan to make the Kingdom number one in the production of electric cars. This is possible thanks to the huge investment capacity achieved through the sale of gas and oil, and recently the Kingdom signed an agreement with Lucid Group on the construction of the first ever facility for the production of electric vehicles in KSA.

Representatives of Saudi Arabia stated that this is only the beginning of what can be expected in the future, and the opening of the first Lucid Group factory will enable the realization of the recently signed agreement with the Government of Saudi Arabia on the sale of 100,000 vehicles in the next decade. The factory will be built in Jeddah and will have a capacity of 150,000 vehicles per year.

“Saudi Arabia is on track to become a global leader in electric vehicles, aligning with its ambitious carbon reduction and renewable energy targets,” said Michael Perschke, CEO of German electric vehicle company Quantron AG.

Mordor Intelligence is a market research company, and according to their research, the market in the Middle East and Africa region will double in the next four years from the current $40.25 million to $93.10 million.

How serious the Kingdom is in its intentions to become a leader in the production of electric vehicles is also shown by the first Saudi brand of electric vehicles, Ceer, which was launched by the Saudi State Fund in cooperation with the Taiwanese company Foxconn. The plan is to produce 170,000 Ceer vehicles per year.

In 2021, the Saudi authorities pointed out that they want 30 percent of vehicles in Riyadh to be electric by the end of the decade, and according to Goldman Sachs, half of the sales of new cars worldwide by 2035 will be EVs.

Source: Lucid Group

Auctions

2011 Porsche 911 GT2 RS is up for auction

In 2010, Porsche introduced a high-performance, track-focused sports car, the Porsche 911 997 GT2 RS. It was produced until 2011, and only 500 cars left the production lines. One of them, the 2011 Porsche 911 GT2 RS (#379) is up for auction.

This 911 GT2 RS is powered by a 3.6-liter Mezger flat-six engine with 620 hp (456 kW) and 516 lb-ft (700 Nm) of torque. Power is sent to the rear wheels via a six-speed manual transaxle with a locking differential. It reaches 62 mph in 3.5 seconds with a top speed of 330 km/h (205 mph). It is mounted on white gold 19″ GT2 RS center-lock wheels wrapped in 245/35 front and 325/30 rear Michelin Pilot Sport Cup 2 tires.

The car is finished in Guards Red, properly maintained and in good condition. Like all other GT2 RS, this one is equipped with carbon-fiber hood, titanium exhaust outlets, aluminum door skins, side intakes, a front hood decal in place of the standard badge, xenon headlights, clear taillights, dual exhaust outlets, fixed rear wing , Porsche Active Suspension Management (PASM) and Porsche Ceramic Composite Brakes (PCCB).

Inside, bucket seats are upholstered in black leather and red Alcantara with debossed headrests, while the multifunction steering wheel is wrapped in black leather. Additional equipment includes the Sport Chrono Package, the Additional Carbon Package, auto-dimming mirrors, PCM with navigation, the Audio System Package, the Sound Package Plus, automatic climate control, red seatbelts, Bluetooth and XM radio connectivity, and a K40 radar detector. The digital odometer reads 3,979 miles.

In March 2023, the owner changed the oil, coolant, and transmission fluids, differential, battery, fuel filter, air filter, cabin filter, and accessory drive belt.

The car has a clean Carfax report that shows no accidents or other damage. It comes with a window sticker, a DME report, service records, and a clean New York title in the seller’s name.

The auction ends on November 13 and the highest bid at the time of writing was USD $502,000.

Source: Bring a Trailer

Gallery:

2011 Porsche 911 GT2 RS is up for auction

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