Desk: The average age of electric cars on the road in China is only 1.8 years. This means that people are changing their electric cars to buying new cars within about two years. The surprising thing is that this time is less than the period of use of mobile phones by many people. This claim has been made in a Bloomberg report.
According to the report, the average age of cars running on petrol and diesel in China is said to be 8.2 years. This means that electric cars are being replaced in China much more quickly than petrol cars. This information has been given in a report of 21st Century Business Herald. The newspaper has published this figure on the basis of reports by China Association of Automobile Manufacturers (CAAM) and Hejun Consulting.
According to the report, new technology is continuously coming in electric vehicles. Batteries are getting better than ever before, software is being updated faster and due to new chips, smart features in cars are continuously increasing. This is the reason why companies are launching new models in a very short time. Due to availability of new technology, people are preferring to buy new electric cars by selling their old EVs.
The report also states that the resale value of electric cars decreases rapidly. On average, the price of an EV remains only 43.35% of its original price three years after purchase. That means, if someone had bought an electric car worth Rs 20 lakh, then after three years its price may remain around Rs 8.5 to 9 lakh. This is the reason why many people consider it better to change their car in time.
According to the report, youth under 35 years of age are the biggest buyers of electric vehicles in China. This class does not just buy vehicles to drive, but also gives great importance to new technology, smart driving systems, large touchscreen, AI features, connected car technology and better digital experience. According to data from Chinese automobile platform Dongchedi, 43% of EV owners change their cars mainly to get a car with new smart features and better user experience. This means that for them new technology has become the biggest reason for changing cars.
