Do electric cars hold their value?

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Myrl Vandervort asked a question: Do electric cars hold their value?
Asked By: Myrl Vandervort
Date created: Tue, Jun 8, 2021 11:30 AM
Date updated: Fri, Jun 24, 2022 3:07 PM

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Top best answers to the question «Do electric cars hold their value»

In its latest report, it says electric cars in general experience far higher depreciation after three years than conventional cars — 52% versus 39.1% for sedans, 39.7% for SUVs, and 34.3% for trucks… No car is a good investment. They all lose value over time.

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Top-of-the-line electric vehicles produced by Tesla and Mercedes can hold their value for longer than most other electric vehicles. On average electric vehicles, don’t depreciate any quicker or slower than petroleum or diesel models. Notwithstanding, the depreciation of significant value can change.

When consumers buy hybrid or electric cars, they typically do so with a greater purpose…

This is because there wasn’t a big market for people wanting electric cars. As electric car batteries have improved over time, the demand for electric cars has risen and so they retain their value for longer. Premium brands that make electric vehicles hold their value for longer. For example, electric models from Mercedes and Tesla retain around 65% - 60% of their value after the first three years or 36,000 miles.

Do EVs hold their value well? July 30, 2019 July 13, 2020 Toby Hagon 919 Views The value of most electric vehicles tends to drop faster than that of petrol-powered cars, according to Ross Booth, the general manager of Redbook.com.au, which collates data on used vehicles.

Electric cars are fairly new, and while early EVs were a very niche product so didn’t hold their value well, the current set are perhaps even more desirable than an equivalent petrol or diesel car – so residual values are strong due to the changing world around us as well as the quality of the cars.

Do premium electric vehicles hold their value best? Data from Autotrader suggests yes, although there are some notable exceptions.

Cap hpi says they hold 57 per cent of their original value after three years - though high purchase prices still means owners are shipping over £35,500 in that period.

There are still variations in how individual makes and models hold on to their value, however; we've put together guides to the fastest and slowest-depreciating electric and hybrid cars you can buy to illustrate this.

Revealed: CAP valuation experts confirm which electric and plug-in hybrid cars best held their value Tesla, Hyundai, and Mini manufactured the slowest depreciating electric and plug-in hybrid cars between 2017 and 2020 in the United Kingdom, CAP said.

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