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Honda says making cheap electric vehicles is too hard, ends deal with GM
(arstechnica.com)
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this post was submitted on 26 Oct 2023
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I'm the US the average age in the road is over 12 years and the average retirement age is about 20 years now. We don't have any required extended warranty rules but do require that OEMs produce parts for at least 10 years. Most parts for most vehicles are available from the aftermarket vendors though.
We have similar parts availability but when a job costs £1500 and the replacement car is £1500 with newer tyres and brake discs most just opt for scrapping as it doesn't make sense to keep the average car.
If you savvy you break the old car yourself and sell off the working parts for more than the value of the whole car.
Final owners just run the car till it breaks or fails it's MoT and is no longer road worthy then scrap it for a new one. Cars just depreciate faster than they become unrepairable for large amounts of money (see the costs for a proper restore or retromod).
COVID fucked with depreciation for a while with 7sed being more expensive than new for white goods cars but that's over now and depreciation is huge again.