Depreciation Is a Big Problem for Some EVs...
There are many advantages to owning an electric car. They're usually cheaper to run, offer better environmental benefits, and are quieter on the road. But it's not all sunshine and rainbows, folks. EVs also have a tendency to depreciate quicker than gas motors. And that isn't good news for your wallet! On that note, we'll be taking a closer look at the worst offenders right here.
Vauxhall Corsa Electric
In terms of range, the Vauxhall Corsa Electric offers a solid 222 miles between recharges. It's also a decent performer. But make no mistake, folks — this car isn't perfect. The handling and overall reliability could be much better. Depreciation is a big problem, too. After three years, the Corsa Electric only retains 29.39 percent of its original value. Oof!
DS 3 E-Tense
The DS 3 E-Tense is a visually stunning car. The interior in particular looks awesome! It's not without its problems, though. The rear seats are cramped, the performance is lacking, and the range can't match its rivals. But the depreciation after three years is a larger worry. It retains just 32.48 percent of its value in that time.
Porsche Taycan Sport Turismo
The Porsche Taycan Sport Turismo ticks a bunch of boxes. It's fast, powerful, looks amazing, and boasts a fantastic range. We're talking 393 miles here, folks. Unfortunately, though, it depreciates quite quickly as well. Within three years, the Taycan Sport Turismo will only retain 32.52 percent of its original value.
GWM Ora 03
Is the GWM Ora 03 a safe EV to drive? Certainly. It's also deceptively spacious, especially in the rear. But there are issues here. The range is a paltry 193 miles, while its performance on quicker roads could be significantly better. The three-year depreciation figures aren't great, either. It retains just 34.21 percent of its value.
Vauxhall Mokka Electric
The Vauxhall Mokka Electric certainly looks the part. But how does it perform? Not too badly, actually. The SUV has a solid range, offers a comfortable ride, and boasts some quality features. Is depreciation a problem, though? Yep! After three years, the Mokka Electric retains 32.38 percent of its value.
Audi E-Tron GT
The Audi E-tron GT is an easy car to love. It's blisteringly quick, has a rapid charging speed, offers a very comfy ride, and looks incredible. But is it fast enough to stave off brutal depreciation figures? Unfortunately not! The E-tron GT only retains 34.03 percent of its original value after three years.
Fiat 500e
If you value performance and handling in EVs, then the Fiat 500e is sure to grab your attention. It's a really fun car to drive in city areas. Yet the depreciation stats are almost impossible to ignore. By the three-year mark, the 500e loses over 65 percent of its value.
Peugeot E-208
The Peugeot e-208 is quiet, stylish, has a good range, and makes for an excellent drive on the road. Sounds perfect, right? But boy, does depreciation pose a problem. If you own one, it'll lose over 64 percent of its original value after three years. What a bummer!
Lexus UX300e
Does the Lexus UX300e have the greatest range? Not quite — it can only muster 170 miles. It makes up for that disappointment with its performances, though, which is a relief. But how bad is the depreciation here? Well, the UX300e only retains 38 percent of its value after three years.
Mercedes EQA
The Mercedes EQA is a bit of a mixed bag. While it has brilliant handling, its acceleration leaves a lot to be desired. 62 mph in 8.6 seconds? It could be better! One of the most significant concerns is the depreciation, though. Within three years, it'll retain just 34.70 percent of its value. Yikes.
Kia EV6
The Kia EV6 comes in a variety of trims, each offering decent specs. It's a good EV to own in a lot of ways — but the depreciation is a worry. After just 12 months, the EV6 can lose 26.7 percent of its value. That doesn't bode well for the future!
Volkswagen ID. 4
With a top speed of just 99 mph, the Volkswagen ID.4 won't get pulses racing. But it's an ideal option for families. The range is excellent and the interior is very spacious. How about the depreciation, though? Well, after three years, it loses over 53 percent of its value.
Tesla Model S
We'll be blunt here — the Tesla Model S is an absolute beast. This EV can hit 60 mph in just 3.1 seconds, and is capable of producing 670 horsepower. Wow! Yet despite those impressive numbers, it loses value fast after three years. The Model S depreciates by 57.8 percent in that time.
Mustang Mach-E
The Mustang Mach-E has a lot in its favor. It looks great, performs well on the road, has excellent infotainment, and boasts a solid driving range. But it's tough to overlook the depreciation figures. Within three years, this EV loses 54.5 percent of its original value. That stings!
Chevrolet Bolt
With a range of around 259 miles, the Chevrolet Bolt is a pretty solid choice if you're looking for an EV. Having said that, the depreciation figures might scare you off! After three years of ownership, the Bolt loses 58.6 percent of its value. Woah.
Porsche Taycan
Much like the Sport Turismo model, the base Porsche Taycan is a very impressive EV. It can produce up to 402 horsepower and is capable of hitting 60 mph in just 5.1 seconds. Nice! But the car struggles to retain its value. After three years, the depreciation reaches 59.7 percent.
Tesla Model Y
We don't blame anyone for being impressed with the Tesla Model Y. This thing has tremendous range, it looks cool, and it can hit 60 mph in 3.5 seconds. But is depreciation a concern? You bet! The Model Y loses 58.9 percent of its original value after three years.
Polestar 2
While it might not be spectacular, the Polestar 2 is a steady EV to own. Its charge times are a big plus! Mind you, the depreciation doesn't make for great reading, folks. Within three years, this car will lose a whopping 60.7 percent of its value.
Nissan Leaf
The Nissan Leaf isn't the quickest EV on the market. It only has a top speed of 92 mph. The range is a positive, though — especially with newer models. Yet this vehicle loses value fast. After three years of ownership, the depreciation reaches 63 percent.
BMW I3
With its heated seats, spacious interior, and practical setup, the BMW i3 is a very enticing EV. It looks cool, too. Does it retain much value after three years of ownership, though? Unfortunately not! In that time, the i3's depreciation reaches an eye-watering 62.1 percent.
Audi E-Tron
The Audi E-tron is no joke, folks. It can produce 402 horsepower on the road and hit 60 mph in just 5.5 seconds. On top of that, it looks stunning! But is depreciation a significant worry here? We'd say so. After three years, this EV loses 65.8 percent of its value.
Cupra Born
The Cupra Born is a very nice electric hatchback. Depending on the model, its range can go up to 366 miles, while it can also produce 362 horsepower. The depreciation will sting, though. After 12 months, the Born loses 26.8 percent of its original value.
Renault Megane E-Tech
With a 60 kWh battery, the Renault Megane E-Tech can achieve a range of 285 miles. Not bad, right? It has some decent power as well. But following a year of ownership, you might be shocked by the depreciation. In that time, the EV loses 27.4 percent of its value.
Kia Niro EV
Boasting an excellent range, the Kia Niro EV is a very attractive option. It's fun to drive, offers a fair amount of power, and makes for a comfy ride. But this might put you off. After five years of ownership, the Niro EV's depreciation reaches 59.2 percent.
Mercedes EQB
Visually, the Mercedes EQB is really nice to look at. As for its specs, the EV's range sits between 242 miles and 324 miles depending on the model. It has issues retaining its value, though. Within a year of ownership, the EQB will depreciate by 30.7 percent.
Volvo C40
The Volvo C40 isn't a bad motor by any means. Its range, performance, and appearance are all worthy of praise. But the depreciation figures are a problem, folks. After 12 months sitting on your driveway, this EV will lose 31 percent of its original value.
Toyota BZ4X
It may not be the quickest, but the Toyota bZ4X still has plenty going for it. This EV boasts decent power and has a range of up to 318 miles. Mind you, the depreciation makes for grim reading. Following a year of ownership, the bZ4X loses 32 percent of its value.
Citroen E-C4 X
The two power options offered by the Citroen e-C4 X aren't anything to be sniffed at. They both have very good range. But the car faces a real struggle when it comes to depreciation after a year. In that time, it loses 32.1 percent of its value. Oof.
Jaguar I-Pace
The Jaguar I-Pace is a tremendously slick EV. Yet all the good looks in the world can't make up for a truly horrendous depreciation rate! Yep, this car loses an eye-popping 69.2 percent of its value after three years.
Mercedes-Benz EQS
If you own a Mercedes-Benz EQS, then you might want to sit down — we've got some bad news! This luxurious EV has a nightmarish depreciation rate. Following a year of ownership, it loses 47.8 percent of its original value. That's not a typo, folks.
Hyundai Ioniq 5
The Hyundai Ioniq 5 is an absolute stunner. Few EVs can match its eye-catching style! It's a strong performer, too. Yet the car still loses a chunk of its value after 12 months. It depreciates by 32.9 percent in that time.
Tesla Model 3
The standard Tesla Model 3s from 2021 have a nice range of 272 miles. Power isn't a problem, either. But the depreciation figures aren't so kind. Following three years of ownership, this EV will lose 48 percent of its value.
Lucid Air
Regardless of the model, the Lucid Air is an insanely powerful EV. We're talking up to 819 horsepower here. Wow! Can it retain a decent amount of value after three years, though? It doesn't look that way. The car depreciates by 60 percent.
Hyundai Kona Electric
With its fantastic range, great looks, and excellent performance, the Hyundai Kona Electric continues to stand out from the crowd. Having said that, its depreciation rate does raise a few eyebrows. It loses 58 percent of its value after five years.
Through: Alexander-93