Was I crazy to buy a Neta V now the company is going bust?

[BritManToo]

Been looking at Neta V for a while now.

New was 430kbht, but suddenly 2 year s/h became 219kbht.

So for a 2 year old EV with 25,000Km @219kbht (inc transfer, 1 year tax but no insurance) I couldn't resist.

Only driven it 30Km so far,

 

The good,

Plenty of leg and headroom, seating comfortable, very easy to drive, very smooth ride, nice responsive light steering.

1Kwhr takes me 8Km, so very cheap to run.

I turned on "1 pedal" so when you stop accelerating it brakes gently on it's own.

I turned "creeping" off, too easy in stalled traffic to forget to keep your foot on the brake, then you're into the car in front. 

I like the fact I don't need to use the remote key, button on the drivers door which unlocks and turns everything on when you enter, and locks and turns off everything when you exit.

Centre mirror has a USB connection for a dashcam.

Doesn't feel or look any cheaper than the other small hatchbacks on the market (Swift, Mazda 2, City, etc).

 

The Slightly annoying,

Carplay is only for wired phone connections and apps, once launched best operated from the phone screen as the 14" touch screen isn't very responsive, but it surprisingly works with Android phones using the Carbitlink app from play store.

Not obvious how to turn cruise control off once you're cruising.

 

The bad,

Windscreen cluttered (like many modern cars).

Very limited view through the rear windscreen, rear passenger seats and headrests are in the way.

Electric adjustable side mirrors don't fold back, everything else electric, but no electric folding mirrors.

 

[marin]

4 minutes ago, BritManToo said:

Doesn't feel or look any cheaper than the other small hatchbacks on the market (Swift, Mazda 2, City, etc).

 

Glad you are enjoying it and feel you got a deal. But that car is ugly to my eyes. Just something about it. Take my Toyota Ativ for looks for sure. 

[Bandersnatch]

12 minutes ago, BritManToo said:

Been looking at Neta V for a while now.

New was 430kbht, but suddenly 2 year s/h became 219kbht

 

At that price you have got a bargain in my opinion.

 

If you can charge it from your solar then it will literally cost you nothing to run.

[TimBKK]

I would guess that the odds are in your favor, 60-40-ish?, that this a decent bet to make and that you’ll get your money’s worth over time.  
 

Only other thought is that the Neta V design team should have been fired a long time ago (joking!)

[Yellowtail]

Pretty tough to go wrong at that price. The only real concern is support going forward, and that should not be much of a concern for at least five years. 

 

I think there are already independents servicing EVs and no doubt some of the more enterprising techs from the dealers will be starting businesses once they go tits-up. 

[connda]

That's why I bought a Suzuki Celerio for ฿360K.  It's a great little city car but fine for getting us between Lamphun and Chiang Mai as well as driving in CM once I get there. Easily cruises at 90km/hour. About 22km/liter so easy on the gas. Surprisingly good acceleration for a three-banger with less than 1000cc displacement. And surprising roomy on the inside. Runs like a top.  Anddddd, I don't think Suzuki is going out of business anytime soon.  My joke with my wife when we pass cars for sale in Big C is, "I can by His & Hers Celerios for the price of that car." I could throw one in for my son too.  🚗

[vinny41]

NETA officially introduced the NETA brand and launched the NETA V – pure electric city car - to the Thai market in August 2022. The company has been progressing in all areas, including product development and network expansion to meet customer’s growing demands. NETA has been actively supporting Thailand's thriving electric vehicle ecosystem development over the past years and began delivering NETA V to Thai customers in December 2022.

Price of Neta V at launch was B549,000 

https://www.neta.co.th/en/news/brands-pr-news/celebrate10k

 

Neta V price reduction from B549,000 to B403,000 was July 2024

https://autolifethailand.tv/special-discount-official-price-neta-v-ev-thailand-july2024/

 

120,000 baht discount for NETA V II LITE model from 549,000 to 429,000 baht and 110,000 baht discount for NETA V II SMART model from 569,000 to 459,000 baht, effective from 25 July 2024 onwards.

https://autolifethailand.tv/special-discount-official-price-neta-vii/

so if you have a 2023 Neta V model the price difference between buying new versus 2 year old is B330,000

 

 

[Packer]

Good if you can charge it at home for free from your solar.

 

Drive it until something important breaks and cannot be fixed because Neta is gone.

 

You mightn't be waiting long. Or you might. A fair gamble for 219,000 if you can charge for free.

[connda]

35 minutes ago, marin said:

But that car is ugly to my eyes.

Beauty is in the eyes of the beholder.  I think it's pretty stylish. 

 

 

[Yellowtail]

4 minutes ago, connda said:

Beauty is in the eyes of the beholder.  I think it's pretty stylish. 

 

 

Yeah. I think it looks nice enough as well. 

[gargamon]

27 minutes ago, connda said:

Beauty is in the eyes of the beholder.  I think it's pretty stylish. 

 

 

They all look the same these days. I find myself often looking for the badge to see who manufactured it. Doesn't work for Teslas though as many embarrassed owners have removed the badges.

[Jethro Tull]

I think it is a bargain, the car itself looks good, a little basic inside but the price is excellent.

Best case scenario : you get many years cheap driving from it.

Worst case scenario: some serious electrical failure occurs and you struggle to find anyone to fix it.

 

But personally I think it is well worth taking the risk.

Maybe some 3rd party support will be offered ( as in the case of Chevrolet ).

Any major or necessary updates will have already been issued so any future updates would likely have been minor.

If I was in the market for a cheap EV to use locally then I would have considered it also.

[dingdongrb]

1 hour ago, BritManToo said:

Very limited view through the rear windscreen, rear passenger seats and headrests are in the way.

 

 

You're in Thailand, do what many Thais do, don't use the back window.

 

Just fill that space with some fluffy pillows or cute stuffed animals.

[Sir Dude]

Sounds like a good deal, but I won't be buying a Chinese EV until the market settles down and can see which companies will achieve longevity and be around for the long term and which will fold. There are far too many EV manufacturers (over a hundred) in China and few of them will ultimately survive... as you mentioned in the title, NETA has already folded and there will be many more. Call me old fashioned or risk averse, but I don't want to get lumped with a vehicle where after-sales service and repair is problematic, and these Chinese EV car companies don't have the best rep on that front.

[atpeace]

1 hour ago, BritManToo said:

Been looking at Neta V for a while now.

New was 430kbht, but suddenly 2 year s/h became 219kbht.

So for a 2 year old EV with 25,000Km @219kbht (inc transfer, 1 year tax but no insurance) I couldn't resist.

Only driven it 30Km so far,

 

The good,

Plenty of leg and headroom, seating comfortable, very easy to drive, very smooth ride, nice responsive light steering.

1Kwhr takes me 8Km, so very cheap to run.

I turned on "1 pedal" so when you stop accelerating it brakes gently on it's own.

I turned "creeping" off, too easy in stalled traffic to forget to keep your foot on the brake, then you're into the car in front. 

I like the fact I don't need to use the remote key, button on the drivers door which unlocks and turns everything on when you enter, and locks and turns off everything when you exit.

Centre mirror has a USB connection for a dashcam.

Doesn't feel or look any cheaper than the other small hatchbacks on the market (Swift, Mazda 2, City, etc).

 

The Slightly annoying,

Carplay is only for wired phone connections and apps, once launched best operated from the phone screen as the 14" touch screen isn't very responsive, but it surprisingly works with Android phones using the Carbitlink app from play store.

Not obvious how to turn cruise control off once you're cruising.

 

The bad,

Windscreen cluttered (like many modern cars).

Very limited view through the rear windscreen, rear passenger seats and headrests are in the way.

Electric adjustable side mirrors don't fold back, everything else electric, but no electric folding mirrors.

 

I'm not a person that really cares about a car other than it gets me to where I want to go.   After  buying a Neta V last October, I got rid of my truck last month because the Neta was so much nicer to drive.  Now after switching I now do care about comfort and ease of use which will make it hard to ever go back to driving an ICE car.  Camping trips and picnics  are on a whole different level with the Neta V.  I bought an external power supply for 500 baht and now I have more power than I use at home available  for days while camping (not really camping I guess ).  

 

The bankruptcy sucks but already over it.  Most likely  there will be workarounds for parts and maintenance.  Many options are popping up every month and other than CDU box  issues, most problems should be easy to resolve.  My brother in-law has 100k on his Neta and zero issues other than his wife backing into a truck and having to wait months for a panel.  He just got his last checkup because the dealership told him it might not be around much longer.  Also I noticed his odometer is now 56k - LOL.

[ElwoodP]

Troll posts removed.

[Yellowtail]

Studebaker went out of business 60 years ago, and while body parts are hard to come by, you can still get them serviced most anywhere in the US, and a 60-year-old Avanti sells for at least ten-times what it sold for new. 

 

I would not worry about having it repaired anytime soon.

[jvs]

Are you able to run your household from the car battery in case of power outage?

I know with some EV's you can do that,i think the idea is great.

[BritManToo]

Just now, jvs said:

Are you able to run your household from the car battery in case of power outage?

I know with some EV's you can do that,i think the idea is great.

My house has its own batteries, no power outrages ever.

[hydraides]

You only spent 200k

 

Who cares if they go bust? Worried about loss of warranty or something? 

 

You could sell off the parts for 50k-100k anyway if worst comes to worst

 

100k baht loss, not exactly tragic

 

Most cars here lose 500k-1 million baht of value after a few years

 

 

[Packer]

Are you not put off by driving a car that got a Zero Safety Rating?

 

Quote

The Neta V, an electric vehicle (EV) from a Chinese manufacturer, received a zero-star safety rating from ASEAN NCAP in recent crash tests. This is the first time an EV has received such a low rating

 

[BritManToo]

5 minutes ago, Packer said:

Are you not put off by driving a car that got a Zero Safety Rating?

It's gotta be safer than driving my scooter in the rain!

[Photoguy21]

Yes. Company gone more difficult to get maintenance and spare parts if any are ever needed.

[Yellowtail]

A lot of us started driving long before we ever heard of safety ratings. 

[Packer]

1 hour ago, Yellowtail said:

A lot of us started driving long before we ever heard of safety ratings. 

 

No need for them, then. 🙂 

[Yellowtail]

Just now, Packer said:

 

No need for them, then. 🙂 

Not for me. I don't give much of a rat's about fresh dates either. 

 

The way safety or any kind of product testing and "certification" works, is that the only concern is to pass the test, not with the actual safety.

 

I am not familiar auto crash tests, but I am pretty familiar with HVAC testing, and the tests do not mean much at the end of the day. 

 

[ukrules]

Looks alright to me, and at that price even if you get just 4 or 5 years out of it it's essentially disposable.

I spent more on laptops (2 high end ones) over the last 6 years 🤣

[TroubleandGrumpy]

4 minutes ago, Yellowtail said:

Not for me. I don't give much of a rat's about fresh dates either. 

The way safety or any kind of product testing and "certification" works, is that the only concern is to pass the test, not with the actual safety.

I am not familiar auto crash tests, but I am pretty familiar with HVAC testing, and the tests do not mean much at the end of the day. 

These days some manufacturers make cars with three things in mind - cheapest possible build and maximum possible safety ratings and minimal exhaust emissions.  Seems to me that the Chinese have turned cheap builds into an art form, and will scam whatever they can to pass a test and get good ratings.  IMO the only real safety things needed are ABS and air-bags - all the best is BS. I would rather they spend more money on those two things, than all the other 'safety' features that merely give them a higher rating. There are mandatory physical tests that a car must pass, but there are far too many BS safety features that give a car higher ratings. Does it have min required airbags - pass. Does it have ABS - pass.  What about the quality of airbags system and ABS - not rated.  Does it have a hot coffee warning - Pass. Does it have lane warning - Pass. Does it have a vehicle ahead warning - Pass. Does it tell you if there is someone in the next lane - Pass.  Does it have whatever Nanny State BS features than a public servant decided are goo - Pass. They are all BS and devalue the real safety features - and there is no account of quality of those features.  I trust the airbags and ABS on a 10 year old Mercedes - way more than on a NETA or any other cheap Chinese car.   

[hydraides]

1 hour ago, ukrules said:

Looks alright to me, and at that price even if you get just 4 or 5 years out of it it's essentially disposable.

I spent more on laptops (2 high end ones) over the last 6 years 🤣

Crazy to think A MAxed out macbook costs more than a full working car with battery, wheels, TV system screen etc

[atpeace]

3 hours ago, TroubleandGrumpy said:

  I trust the airbags and ABS on a 10 year old Mercedes - way more than on a NETA or any other cheap Chinese car.   

Ironically airbags are a major issue with Mercedes over the last 15 years.  Also lots of cars are more reliable at a fraction of the cost.  The odds of the airbags being an issue is miniscule and  of little concern for me ( might be if I had a Mercedes ) but that is just me 🙂