Car value experts refute Elon Musk's claim that Teslas are 'an appreciating asset'

-
Car valuers and industry experts have dismissed Tesla CEO Elon Musk's claims that his electric cars will become an "appreciating asset", but have acknowledged that Tesla models will likely outperform other electric vehicles in Australia's used car market over coming years. Musk first made the statement in a podcast interview in 2019, saying: "I think the most profound thing is that if you buy a Tesla today, I believe you are buying an appreciating asset – not a depreciating asset."

Comments

Post a Comment

Popular posts from this blog

2024 Toyota Yaris Cross updated in Europe with new tech, more hybrid power

-
Image
Europe’s Toyota Yaris Cross has received a mid-life update with more power, a revised look and new technology. Plans for the Australian version are yet to be announced. The updated 2024 Toyota Yaris Cross small SUV has been unveiled in Europe with an upgraded hybrid powertrain and new styling.  This is the first update for the Yaris Cross – the SUV sibling to the Toyota Yaris hatch – since it was first introduced to the Australian market in 2020.  Mirroring changes to the European-market Yaris hatch, the 2024 Yaris Cross in Europe brings with it mild styling changes to the exterior and interior of the SUV, improved safety features, and a more powerful hybrid system.  While pre-orders in Europe are due to commence this month, there’s no word on when we can expect to see the updates flow onto the Yaris Cross in Australia.  European-market Yaris Cross vehicles are manufactured in France, whereas Australian-delivered examples are built in Japan. Most ...
Read more

Ineos Grenadier gets converted into a camper with Australian-made pop-top

-
Image
Mere weeks after hitting the road in Australia, this Ineos Grenadier has already had the roof chopped and converted into a pop-top camper. Ineos Grenadier Pop-top camper The Ineos Grenadier four-wheel drive now has a pop-top conversion available , thanks to Australian company Expedition Centre. Based in Sydney, Expedition Centre has been making pop-top conversions for Land Rover Defenders and Toyota LandCruisers since 2009. But now with the Ineos Grenadier hitting the road in Australia, Expedition Centre has quickly turned its attention to the new, old-school four-wheel-drive wagon. Similar to conversions Expedition Centre has been doing on Defenders and LandCruiser Troopcarriers, the roof of the Grenadier is removed and modified to fit in a slatted 1.3-metre wide Fanello Bed. Hinged at the front and latched at the back, the roof can ‘pop’ open to create additional sleeping and living space inside the vehicle. The roofline of the Grenadier is raised by around 250...
Read more

2023 Porsche Taycan GTS review

-
Image
Whether on the back of a 911 or a Cayenne, the GTS badge has always denoted a special kind of Porsche. Now the electric Porsche Taycan gets the GTS treatment. Skip ahead: Introduction Running costs Price and specification Energy use Interior space and comfort On-road assessment Connectivity and infotainment Summary Safety 2023 Porsche Taycan GTS Nothing prepares you for it. It’s visceral, punching you in the guts, grabbing your heart in its sweaty fist and squeezing to the point of breathlessness. It’s the first heady rush of acceleration, a rush of speed unencumbered by the limits of traditional internal combustion. It shouldn’t come as a surprise anymore.   Meet the 2023 Porsche Taycan GTS , the mid-spec variant in the wider Taycan range that takes everything you think you know about the physics of driving and then stomps on it. Yes, there are faster Taycans – Turbo and Turbo S anyone? – but in terms of bang-for-your-not-inconsid...
Read more

Renault and Nissan production delays due to global cyber attack

-
Image
Renault and Nissan ‘s Sunderland production facility has been the victim of a global cyber attack, causing costly production delays. The global cyber attack began late last week and has so far affected more than 75,000 systems in 100 countries. The attack hits vulnerable Microsoft Windows machines and encrypts the user’s filesystem, taking it ransom. The user is asked to pay a fee of US$300 to have their computer unlocked. While the attack can easily be prevented by updating the operating system, many automated machines and dumb terminals connected to the internet are being infiltrated. A Renault spokesperson told  Autocar, “Groupe Renault confirms it was impacted by the global cyber attack that began late on Friday May 12. It consists of a Ransomware virus. Proactive measures were taken immediately in order to stop the spread of the Virus and protect the group,” the spokesperson said. “A full diagnosis is in progress in order to put in place the appropriat...
Read more

2024 Toyota LandCruiser 70 Series facelift spy photo

-
Image
A blurry image found online appears to show an updated Toyota LandCruiser 70 Series. Is Australia’s oldest ‘new’ car about to get another facelift – or is this a retro-inspired model for Japan? A Toyota LandCruiser 70 Series has been photographed in Japan with what appears to be its first makeover in more than 15 years – and it could be in showrooms by the end of this year. The blurry image – which appears to have been taken from a security camera, and shared by @oriba_lc300 and Kurdistan Automotive Blog on Instagram – shows a LandCruiser 76 Series wagon in Japan with a camouflage wrap over the front fascia and a new wheel design. Details are difficult to make out, but the grille appears to wear ‘ TOYOTA ‘ heritage script – similar to the 70th Anniversary special edition unveiled two years ago – and the headlights look to be different from the model in showrooms today. For now it is unclear if this new front-end styling will come to Australia – or if it will be a Japan ex...
Read more

2019 World Car Awards: Finalists announced

-
The countdown to the World Car Finals has begun this week, with a list of 10 finalists announced for the overall title, along with the contenders in five specialist categories. According to the firm, a jury of 86 "distinguished international automotive journalists" selected the finalists by secret ballot, based on their own assessment of the vehicle as part of their professional work. The initial list of 40 models has been shaved to 10 finalists, with representation from around the world.
Read more

New Hyundai Venue due in 2025 – report

-
Image
The next generation of Hyundai’s smallest SUV in Australia may be two years away, as the South Korean automaker commits to compact, budget-priced cars – even if only as an SUV. The next generation of the Hyundai Venue city SUV is due in overseas showrooms in 2025, according to a new report from Indian publication Autocar India . Hyundai has reportedly locked in a successor to what is currently its smallest SUV in Australia following its popularity in India, where more than 450,000 have been sold since 2019, according to Autocar India . The Indian publication reports production of the next Venue is due to commence at Hyundai’s new Talegaon factory in India – purchased from General Motors – in 2025. It is yet to be confirmed if and when the new Venue will come to Australia, and it is unclear if production will continue in South Korea – where Australian models are currently produced – or if it will move elsewhere. It has been a relative sales success in Australia – whe...
Read more

Chevrolet Bolt: One of the cheapest electric cars in the US to return, a slim chance for Australia

-
Image
The Chevrolet Bolt electric hatch – axed earlier this year to make way for production of three-tonne electric pick-ups – is poised to make a comeback, and it could be sold in Australia. The electric Chevrolet Bolt hatchback – axed in its previous form earlier this year so its production line could be used for giant electric pick-ups – is due to return to US showrooms in 2025 with new battery technology . It is also a chance – albeit slim – to come to Australia as part of General Motors Specialty Vehicles, the local operation of Chevrolet’s parent company, General Motors. As reported by industry journal Automotive News , General Motors CEO Mary Barra confirmed plans to a media conference to have the Bolt – previously one of the most affordable electric passenger vehicles in the US – “back again in ’25.” The new car is poised to be the first GM vehicle to use lithium iron phosphate (LFP) battery cells – as used in BYD electric cars, as well as certain MG and Tesl...
Read more

Cupra Terramar, Tavascan and UrbanRebel: Three new models revealed, set for Australia

-
Image
The Volkswagen-owned Spanish car maker’s global expansion will be underpinned by the new Terramar, Tavascan and UrbanRebel. Cupra has revealed its new Terramar medium SUV ahead of a planned start to Australian sales for the new five-seater in 2024. Unveiled alongside a near-production version of the electric Tavascan and a second concept of the UrbanRebel hatchback, the Toyota RAV4-rivalling model is set to be sold with the choice of four-cylinder petrol mild-hybrid and plug-in hybrid drivetrains in an expansion of Cupra’s existing line-up. Described as being “around four and a half metres” in length, the Terramar is a sister model to the Audi Q3 – alongside which the new SUV will be produced at an Audi-owned factory in Gyor, Hungary, according to Cupra CEO, Wayne Griffiths. “It will be our last combustion engine model”, says Griffiths, adding, “the future is electric”. The basis for the Terramar is the Volkswagen Group’s MQB platform – the same structure used by the...
Read more

2024 Mazda 3 update due this year with technology upgrade – report

-
Image
The Mazda 3 small car is slated to receive an upgraded interior with a larger infotainment screen in the coming months, according to a new report. The current Mazda 3 pictured throughout. An updated 2024 Mazda 3 small car is coming soon to showrooms with improved technology, according to a new overseas report. Japanese website Creative Trend reports the Mazda 3 hatchback and sedan range is slated to receive a moderate upgrade in the northern spring of 2023 (Australia’s autumn, from March to May) – about four years after the current model went on sale. Leading the updates is said to be a larger infotainment screen, now measuring 12.3 inches in top-of-the range models – up from 8.8 inches today, and matching Mazda’s newly-introduced CX-60 SUV. This update is expected to serve as the mid-life ‘facelift’ for the Mazda 3 – which went on sale four years ago – but unusually, the Japanese website says there are “no major changes to the interior and exterior design” p...
Read more