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Graham Hill is the UK's most outspoken expert on Vehicle Finance, Electric Cars and Consumer Issues. During his 35 years plus in the vehicle finance industry, he has witnessed just about every trick, scam and con perpetrated on consumers and regularly reveals them, either through his blog or through his PR. His latest venture has been to reveal the hidden truth behind electric cars and their inherent dangers. He is a people champion hell-bent on making sure that poorly informed consumers are treated fairly.

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Graham Hill

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In 2021 statistics platform, Statista revealed that there were more electric car drivers over 55 driving electric cars than any other age groups with the over 65’s representing 24% and 55 - 65 representing a further 20%. Whilst that situation may have changed since 2021 with younger drivers taking the plunge, vehicle finance and electric car expert Graham Hill asks why the older generation is making the move to electric when surveys suggest the opposite? Have the elderly developed a desire for high tech alongside the legacy of a greener planet when they depart this mortal coil compared to when they entered it? Or could it be as simple as affordability. With over 55’s able to release equity built up in their properties and large pots of pension to draw down has the thought of lower running costs and greener mobility turned their heads? And if so should they be doing this? Hill answers, “Of course they should if we are to achieve anything close to the government carbon zero targets, EV’s are not simply the domain of the younger generation who have mastered a smart phone.”&nbsp; But Hill questions the finance method used, i.e. simply transferring the pension or equity cash from their bank accounts to those of the dealers. This is what Graham Hill has to say: ‘I admire the fact that the older generation (of which I’m one) is embracing the very latest technology but that is the problem with going down the electric car route. We are entering unknown territory. As the car manufacturers race to maintain their market share things will inevitably go wrong and that could seriously affect the value of the car you bought just a few months ago.&nbsp; ‘Let’s take two major problems with batteries confronted by Hyundai with their Kona and GM with their Chevrolet Bolt. The recalls of the cars are likely to finally set back the manufacturers of the cars and the batteries $1 billion (Hyundai) and $2 billion (GM). At the time of the recall announcements not only did sales of these new cars fall off a cliff, so did the value of the cars in the marketplace. Imagine owning one!&nbsp; Then there are sudden manufacturer price drops as suddenly announced by Elon Musk earlier in 2023. This move not only affected Tesla drivers who found that the value of their car dropped massively other drivers experienced the same with, for example, a Jaguar I Pace dropped £6,000 overnight.&nbsp; New models of the car you’re driving being launched with longer ranges, faster charge times and new tech will also affect the value of your ‘old version’ even if your ‘old version’ is nearly new. Then there are the road testers, buy a car that seems great followed by a Clarkson type review (remember the Vauxhall Vectra) destroying your pride and joy and there goes another couple of thousand quid. And then there are the Chinese who started as a joke but are now winning award after award and able to produce a car for two bob. They are forcing competitors to drop prices. That is good news for the new buyers but bad news if you tipped your pension pot into a new electric car two months before the slow boat from China docked at Tilbury flooding the market with cheaper than ever cars.&nbsp; So faced with all these reasons why not to pay cash for your electric car what should the over 55’s do? The simple answer is either a PCP or a PCH. Both schemes allow you to hand the car back at the end of the contract period passing over any potential losses to the finance provider. Use the pension or equity money to pay as much down payment as possible (unless the PCP is zero % APR) and even keep the money in reserve to make the monthly payments.&nbsp; Make sure that you check out PCH which is generally cheaper as the manufacturers and dealers are able to tuck away more discount into the lease rate they charge. Don’t be fooled by the zero % or subsidised APR in a PCP, all they’ve done is use some of the discount available in the car to pay the finance cost. It’s psychological. So there you have it, let’s get plenty of boomers and elders into electric cars but don’t use excessive amounts of equity to do it. For more free information sign up to Graham Hill’s podcast by going to grahamhilltraining.com/podcast &nbsp;<blockquote>With access to equity in property and pensions causing an increase in take up of electric cars in the over 55's should they use the money to pay cash or are there better methods of finance that will keep the costs down?</blockquote>

Are Older Drivers Of Electric Cars Throwing Good Money After Bad?

Low utilisation of the available public chargers could end up with the already loss making station owners failing to maintain the chargers or shutting down completely!In a very famous Morecombe and Wise sketch Eric was accused by world famous conductor, Andre Previn of ‘playing all the wrong notes’ as he attempted to play a famous piece by Bach on the piano. To which Eric replied, ‘I’m playing all the right notes – just not necessarily in the right order.’This punchline put me in mind of the network of electric vehicle chargers. With an average utilisation of less than 15% it would seem that we have more than enough chargers given the number of plug-in cars on the road currently – they’re just not necessarily in the right places.Of course low utilisation will be good news for drivers as it should mean that chargers will be free whenever they pull into a charge station to top up, other than during peak demand times (8.00am – 9.00am and 5.00pm – 6.00pm).&nbsp;Some stations have increased the cost of electricity during peak times to even out charger usage but is this the answer? And should we believe the regular reports that the charger network is already under massive strain?&nbsp;To get to the time utilisation (that’s the time available for use vs the time that the chargers are actually in use) I’ve used two surveys carried out by Transport &amp; Environment and ZapMap.Survey 1, found that electric car drivers used public chargers on average for 5% of their charging sessions.This was the finding of Transport &amp; Environment. This is what they said:&nbsp;‘Despite the perception that public recharging is a major barrier to the mass uptake of electric vehicles (EV), public chargers are only used for about 5% of charging events, including onstreet city charging, car parks and fast charging along road corridors. The data compiled in various studies to date shows that the vast majority of EV charging happens at home or work and it is a lack of choice and availability of electric cars that is the principal barrier’.&nbsp;In a point that I have been making for years, here is what Greg Archer, Clean Vehicles Director with Transport &amp; Environment (T&amp;E), said:“Carmakers are creating a smokescreen claiming there is insufficient recharging points in major markets. The truth is the chicken or the egg problem is fixed in northern and western Europe, where three in four new EVs are sold. The primary bottleneck in increasing sales of electric cars is the lack of cars to plug-in.”&nbsp;Survey 2, found that 40% of plug.in cars visited a public charger once per week. This was reported in Fleet News when they quoted the Zapmap 2022 charging survey.&nbsp;This is what Zapmap reported:&nbsp;With the vast majority of EV drivers (93%) continuing to use the UK’s public charging networks, and 40% using public chargers at least once a week, the survey found a significant increase in both the installation and usage of high-powered – also known as ultra-rapid – charging devices across the country in 2021.For the calculations, I have allowed 16 available hours per day per charger (between 6.00am and 10.pm). At the end of 2022 there were 1,135,000 registered plug-in cars and 62,332 public charge points.Using Survey 1 the time utilisation was&nbsp;11.4%Using Survey 2 the time utilisation was&nbsp;12.1%&nbsp;In June 2023 the Green Finance Institute and Zapmap carried out a far more complex study and reported a utilisation of 14% at the end of 2021 and 15% at the end of 2022 by using some very complicated metrics, not a million miles away from my back of a fag packet calculations.&nbsp;First of all this level of utilisation is not sustainable over the long term as the petrol and diesel industry found out.&nbsp;In the year 2000 there were 13,107 petrol/diesel stations in the UK serving 28.4 million vehicles.In 2022 they had dropped from 13,107 down to 8,365 serving 32.7 million vehicles (up 4.3 million excluding battery electric cars). So whilst the number of ICE vehicles increased by 15% the number of petrol stations decreased by 36%. So why should this be? Unlike electric vehicles where we have means of ‘filling up’ at home and at work every Internal Combustion Engine (ICE) vehicle, other than maybe farm vehicles and large fleets of vehicles where they may be fuelled at work, needs to be fuelled at a fuel station. So on the face of it, the figures didn’t make sense.Of course, some fuel stations when being refurbished over the years have increased the number of pumps per station but most of those changes took place before 2000. And whilst fuel consumption hasn’t changed much the switch from diesel to petrol a few years back should have increased pump demand as petrol vehicles generally achieve fewer miles per gallon than diesel. So the only reason for shutting down so many filling stations must be down to utilisation and profitability.Whilst the number of electric cars being registered increases monthly and there is an obvious need to continue to increase charger availability we must address the problem of location. Sticking charge stations in areas where power supply is easily accessible and planning permission is simple is not addressing the problem, it’s just picking off the low-hanging fruit in the hope that registrations will grow to meet capacity over the long term in the areas where low-hanging charge stations are sited.&nbsp;With so much competition in relatively small areas, it will take many years before some chargers become profitable (if at all). This could lead to chargers falling into disrepair and then shutting down, as happened with petrol stations.All of the top charge station providers are making losses (according to Companies House) which is expected during times of investment and expansion but are we seeing cracks far too early as these providers branch out into car leasing? Are they doing it out of panic that far too few electric cars are being registered to use their chargers or is it to bolster their struggling bottom line? I would suggest a mixture of both – very worrying.But it’s not all down to time utilisation and the siting of charge stations where they’re needed. Dismally poor car demonstrations and electric car handovers mean that new and even long-time electric car drivers are confused by chargers, charge speeds, and electricity costs.Let me give you a quick example. kW indicates the charge speed of your car and the charger. You have a 50kW car and you enter a charge station with 4 x 50kW chargers and 2 x 150kW chargers. If you connect your car to a 50kW charger, your charging will be optimised (the fastest you will achieve). Whilst the charge speed slows as the batteries fill you get the most out of the charger.Now let’s say you have the same car but all the 50kW chargers are in use but you can get onto a 150kW charger. Great, you can charge your car more quickly – no you can’t. The speed of delivery is decided by not only the charger but also the car so the maximum charge speed is 50kW. So this means that the charge station owner only sells a third of the amount of electricity over the same charge time than if your car was 150kW.So should that worry the driver? It probably should because the faster the charger’s capability the more they charge for the same amount of electricity that you use. So whilst there are calls for more ultra-rapid chargers maybe we need more fast chargers to free up the ultra-rapid chargers that are being used by drivers of slower-charge speed cars. Possibly thinking that their cars charge faster.Going back to the Green Finance Institute and Zapmap report they found that utilisation of Ultra Rapid (over 100kW) chargers had increased from just over 12% in Q4 2021 to 16% in Q4 2022. But with insufficient data we don’t know whether this higher time utilisation is down to more demand by cars with higher kW charge speeds or slower charge speed cars using the ultra-rapid chargers as slower chargers were not available.It’s quite obvious that the industry needs to get a grip if we are to get anywhere close to the government targets and minimise the pain when we stop selling new Internal Combustion Cars (ICE) in 2030.To sum up there are some major EV charger challenges, none of which are simply a lack of chargers. Here are the main issues:<ol><li>Siting of Public Charge Stations: We need greater control over the siting of chargers as there is a massive oversupply in some areas and under-supply in others as a result of planning permission barriers and electricity supply issues. The government needs to take control over charger placement and speed up planning permission.</li><li>Peak Demand: 8.00am – 9.00am and 5.00pm – 6.00pm needs to be addressed. Maybe increase the cost of electricity at peak times, as some stations have trialed, or reduce costs at other times which may help but the problem needs to be sorted or we’ll continue to see photos of electric cars queued up waiting to charge when an hour later most chargers would be free.&nbsp;</li><li>Broken Chargers: Far too many chargers are not working causing driver frustration and possibly leading to driving anxiety resulting in punch-ups and accidents. With lower than 15% utilisation can the charger installers afford to maintain faulty chargers and should charger maintenance be regulated with minimum operating standards?&nbsp;</li><li>Investment: All of the main public charger installers are declaring losses in their accounts, understandable in a growing market but how much longer is this sustainable and acceptable for investors, especially as new electric car registrations are way down from where they should be by now?</li><li>More Information:&nbsp;As with petrol stations showing the cost of petrol and diesel the cost of electricity should be displayed outside the station, visible from the road. In-car apps should identify which free charger in the station is optimum for your car with a large number over each charger to guide you to it. And much more to ensure that you charge your car as quickly as you can at least cost.</li><li>Training &amp; Education: Understanding the need to match the driver’s car in terms of kW with the kW rating of the charger is important if utilisation is to be maximised and drivers not end up paying more for electricity than is necessary. The standard of demonstrations and handovers should be at Driver Instructor level, something manufacturers, dealers, leasing companies, rental companies, and subscription companies fall way short of.</li></ol>An easy-to-access helpdesk to answer driver questions is also essential.&nbsp;Let me be clear we can always do with more chargers as more electric vehicles enter the national car parc and I’m not advocating that we don’t continue installing more charge points but there is a fear that we install too many in the wrong places – just because they can, making them unprofitable for the private operators.&nbsp;Someone needs to take the lead!Graham HillGrahamhilltraining.com<blockquote>Whilst car manufacturers, pundits, and others claim that we have nowhere near enough public EV chargers the latest data from me, the Green Finance Institute and Zapmap show massive under-utilisation of public chargers. In fact, we need more EV's on the road and chargers situated in the right places.</blockquote>

Are There Already Too Many Public EV Chargers?

West Sussex - England - In December 2022, the Financial Conduct Authority (FCA) issued a warning to insurance companies following complaints of underpaying when cars were written off.&nbsp; The poor state of our roads and increasing concerns of more cars being written off in 2023 due to potholes and deteriorating skid resistance has prompted industry expert Graham Hill to call for action and clarification. According to the FCA's report, evidence shows that some consumers who have had their cars written off are being offered a price lower than the vehicle's fair market value by their insurance providers. This practice, known as "negotiating a settlement," has existed since the birth of insurance and is not exclusive to the current economic state. Insurance companies, like other businesses, balance their bottom line with customer retention. However, the emergence of comparison sites has led to a greater focus on their bottom line, as saving on insurance premiums takes precedence over fast and fair payouts. Graham Hill suggests that precise guidance from the FCA would benefit both the insurance industry and consumers. One such guidance could be using a single source, such as Glass's Guide, CAP-HPI Guide, or Parker's Guide, to establish the market value of a car. In addition, addressing the impact of inflation and defining "vulnerable circumstances" would provide more clarity for both consumers and insurers. In the meantime, consumers are advised to: 1. Be cautious when negotiating with insurance companies and never accept the first offer of settlement. 2. Avoid using online buyers' trade market values to determine the value of their cars; instead, use retail market values from dealers. 3. Research similar cars on websites like Autotrader to establish a reasonable market value. 4. Consider taking out GAP (General Accident Protection) insurance or Excess Insurance to ensure adequate coverage. Full Story: https://tinyurl.com/2uzzs4r9 For more information and advice on electric cars, car finance and all things automotive, please contact Graham Hill at ghafinance@aol.com or 07787 100431. Visit his website at grahamhilltraining.com. About Graham Hill: Graham Hill is a motor finance and electric car expert and the author of Electric Cars – The Truth Revealed.&nbsp; With years of experience in the industry, Graham provides valuable insights and guidance to consumers navigating the complexities of car finance and other related automotive issues. &nbsp;<blockquote>The FCA issued a warning in December 2022 to insurance companies following complaints of underpaying when cars were written off. Given the poor state of our roads concerns are increasing that many more cars will be written off in 2023 as a result of potholes and deteriorating ‘skid resistance’ as roads fail to be resurfaced. And little sign that the industry is taking notice of the warning which was far too vague. Industry expert Graham Hill feels action and clarification is needed.</blockquote>

Response to FCA Release on Insurance Payouts: Clarity and Action Needed

This is a major story regarding the serious dangers of electric cars. Should EV driving tests be introduced? Employers are taking electric cars off their selection list for 'being too fast'. The story reveals that the Nissan Leaf family car has gone from 0-60 in 10 seconds on launch to latest model 6.1 seconds. AXA Insurance reports 50% more likely to have an accident in an electric car. German driver convicted of driving whilst using an electronic device. The device was the touchscreen fitted to his Tesla 3. GH exposes the distraction dangers as touchscreen design spirals out of control. The report shows distraction levels 57% higher than driving without using a touchscreen. Distraction is only 21% higher when under the influence of cannabis.&nbsp; With two major recalls due to battery fire risk in electric cars costing $1.8 Billion and $2.0 Billion how many future risks will be overlooked or hidden as was the case of the Ford Pinto in the 1970s? And many more explosive revelations. The story is lengthy, worthy of a news feature and possibly the basis of a TV Special. With more revelations to follow. Please contact the writer for a full copy of the piece!<blockquote>As car manufacturers turn up the electric car launch wick are they being launched without being fully tested putting lives at risk? Is it safe to put drivers behind the wheel of cars capable of 0-60 in less than 5 seconds without taking a driving test or at least safety training? This story is not for those with a nervous disposition! Governments around the world must act now - before people die!</blockquote>

“Is The Electric Auto Industry Driving A Treacherous Road To Potential Disasters As The Manufacturers Fight For Market Share?”

Graham Hill is the UK's most outspoken expert on Vehicle Finance, Electric Cars and Consumer Issues. During his 35 years plus in the vehicle finance industry, he has witnessed just about every trick, scam and con perpetrated on consumers and regularly reveals them, either through his blog or through his PR. His latest venture has been to reveal the hidden truth behind electric cars and their inherent dangers. He is a people champion hell-bent on making sure that poorly informed consumers are…

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