Electric Vehicles: The Best and Worst Depreciating Cars After a Year
Introduction
When looking for a good deal on a used car, it’s essential to consider the depreciation rate. Not all vehicles lose their value equally, with some holding onto their worth better than others. Here we explore the top depreciating and appreciating cars after a year of ownership.
Top Depreciating Vehicles After 12 Months
Electric vehicles (EVs) make up half of the top 10 vehicles that depreciate the most after a year on the road. The Mercedes EQS stands out as the king of depreciators, losing almost half of its value in just 12 months. Other EVs like the Nissan Leaf, Hyundai Ioniq 5, Kia EV6, and VW ID.4 also experience significant depreciation.
Hybrids, on the other hand, tend to hold their value better, with half of the top 10 models that depreciate the least being hybrid vehicles.
EVs: A Mixed Bag of Depreciation
EVs have seen rapid development in recent years, driving up prices for new models. However, this also means that they can be a good deal when purchased used. Despite concerns about battery longevity, EVs like the Nissan Leaf offer substantial savings for buyers willing to go the pre-owned route.
On the flip side, luxury EVs like the Mercedes EQS face significant depreciation due to their premium status and new technology. The EQS is not alone in this trend, with other high-end models like the Alfa Romeo Stelvio and Giulia also experiencing substantial value drops.
Range Rover: The Exception to Depreciation
While most vehicles lose value over time, the Range Rover bucks the trend by appreciating in price after a year of ownership. This luxury SUV stands out as a rarity in an industry where depreciation is the norm.
Vehicles That Depreciate The Least After 12 Months
Hybrid vehicles dominate the list of models that hold their value well after a year. With five hybrids in the top 10, it’s clear that these eco-friendly cars are becoming more popular as EV growth slows due to high prices.
While some EVs like the Tesla Model X and Model Y hold their value better than average, others experience more significant depreciation. Buyers looking for a deal on a used EV should consider factors like brand reputation and technology when making their purchase.