Study finds some EVs are dropping in value by up to 50% annually

[JACK AYLMER]

ANY TIME A VEHICLE IS ON THE ROAD – IT’S SLOWLY LOSING VALUE.
BUT FOR SOME E-V MODELS – THE DECLINE PER DRIVE CAN END UP BEING HUNDREDS OF DOLLARS.

THE NEW FINDINGS COME FROM A RECENT INVESTIGATION BY WIRED INTO THE DEPRECIATION OF ELECTRIC VEHICLES.

ON AVERAGE, THE VALUE OF MOST GAS-POWERED CARS FALLS BY ABOUT 10 TO 15 PERCENT ANNUALLY.

BUT THERE ARE EV MODELS LOSING UP TO HALF THEIR VALUE IN A SINGLE YEAR.

IN SOME CASES TRANSLATING TO A MORE THAN 600 DOLLAR LOSS EVERY DAY.

IT’S A PROBLEM IMPACTING ELECTRIC VEHICLES FROM AUTOMAKERS LIKE TESLA, FORD, AND PORSCHE-

WHO ALL HAD MODELS THAT DEPRECIATED BY AROUND 50 PERCENT OVER THE COURSE OF A YEAR.

A COMBUSTION ENGINE CAR CAN ACTUALLY BE WORTH OVER 40 PERCENT MORE THAN A COMPARABLE EV AFTER 12 MONTHS, EVEN THOUGH THE ELECTRIC VEHICLE COSTS MORE INITIALLY.

WHILE THIS TREND ISN’T GREAT FOR NEW EV OWNERS, SECOND-HAND BUYERS COULD ULTIMATELY BE SET TO BENEFIT.

THE AVERAGE PRICE OF A USED EV IS DOWN ALMOST 30 PERCENT COMPARED TO LAST YEAR-

NOW ACTUALLY OVER 8 PERCENT CHEAPER THAN A USED GAS POWERED CAR.

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