Ev’s cost less to operate than petrol or diesel cars, are greener and more efficient and produce no harmful emissions in use. But while some of their environmental and fuel-saving appeal is built in, the depreciation on many of today’s more expensive battery-powered cars will leave them much more costly to own, when their owner comes to sell it. This can be seen by comparing the depreciation of various EVs after a relatively short ownership period, and there are reasons for it, not least of which being the fast pace of evolution bigger, longer-range batteries, rapid charging, better features and longer ranges are seeing new electric cars becoming more appealing, which is having an impact.
Out of the box, the purchase price of an EV could be more expensive than a traditional petrol or diesel model, but lower running costs and servicing expenses could save you money in the long term. Costs associated with using an EV also could be lower than a conventionally-powered vehicle charging it is usually less expensive than filling up, and electric cars tend to need less servicing due to fewer moving parts. For potential buyers who are looking to change their car after three or four years though, depreciation levels could have a bigger impact than say, the price of the car itself. Understanding how quickly an electric car is likely to depreciate could prove valuable in a new or used car buying decision. Below are 10 of the cars deemed most likely to suffer heavily from depreciation.
1. 2022 Rivian R1T
The 2022 Rivian R1T served as the first truck built on Rivian’s new electric platform with a starting MSRP of about $67,500. After two years, the average used price was $45,000-$48,900, a depreciation of close to 30%. While the R1T held its value better than others on the list, some of the reasons behind the dip include lack of widespread brand recognition at launch and rising EV pickup competition. That may be useful information for those interested in purchasing a used electric truck.
What Makes the Rivian R1T Stand Out:
- Nearly 30% value depreciation
- Starting MSRP around $67,500
- Quad-motor all-wheel-drive system
- 314-mile estimated driving range
- Strong off-road performance capabilities
Powertrain The R1T has four motors that generate a combined 835 horsepower and 908 pound-feet of torque. The all-wheel-drive system allows it to go from zero to 60 in 3.0 seconds, with a top speed of 111 miles per hour. Its off-road ability is thanks to an all-wheel-drive system and a 314-mile driving range it has a 70 MPGe rating and energy usage of 48 kWh per 100 miles, which potential buyers may find comparatively high.
2. 2022 Ford Mustang Mach-E Select
As it was the cheapest version of the Mach-E in 2022, it had the lowest resale value between $28,800 and $30,800 in two years, a decrease of 30%. Usage of the Mustang moniker in the model’s name generated some discussion among consumers, although broader adjustments to the electric crossover market also contributed to its depreciation. For those interested in this model, it may make a better used vehicle since it is so much cheaper.
Why Is the Mach-E Losing Value:
- Approximately 30% depreciation
- Original starting price $42,895
- Single-motor rear-wheel-drive setup
- 230-mile driving range
- 101 MPGe efficiency rating
The Mach-E Select is powered by one motor and rear wheel-drive, providing up to 266 horsepower and 317 pound-feet of torque. It takes 6.8 seconds to go from 0-60 miles per hour and has a maximum speed of 111 miles per hour. The driving range is 230 miles, and the efficiency is rated at 101 MPGe. Its budget-friendly numbers make it a useful electric SUV, but its fairly slow performance compared to more recent models could explain its faster depreciation.
3. 2022 Volkswagen ID.4 Pro
The 2022 Volkswagen ID.4 Pro had a starting MSRP of $39,995. A 2-year-old average used price of about $24,500-$26,700 has depreciated the ID. 4 by 38% and retained 62%. The ID.4 has a relatively low profile in the EV market and is bumped off the ranks by tougher competition from other crossovers in the used market. Nonetheless, the lower prices may make this value-for-money Electric SUV even more compelling to used EV buyers.
What Does the ID.4 Pro Offer:
- 38% depreciation after two years
- 62% value retention rate
- Single-motor rear-wheel-drive configuration
- 260-mile driving range
- Practical electric crossover design
You will find one 201-horsepower, 229 pound-foot-of-torque, rear-mounted electric motor in the ID.4 Pro, which sprints to 60 MPH in 7.8 seconds and maxes out at 99 MPH. Its 260-mile range and 97 MPGe combined efficiency rating make it a capable everyday EV. It’s also not the fastest vehicle you could choose, which is a possible downside for the used EV shopper.
4. 2022 Tesla Model 3 Standard Range Plus
The standard 2022 Tesla Model 3 (SRP) Plus had a starting production price of $ 41,990. In the next two years, it lost approximately 40% of this value, with used prices dropping between $ 24,500 and $ 27,000. Tesla’s iterative software and hardware updates to the entire range of vehicles have affected the interest in older versions, while the growing competition in the entry-level electric vehicle market has also put downward pressure on resale values. All of these have shown how fast the tech evolves.
What Influences the Model 3’s Resale Value:
- Around 40% depreciation
- Used prices $24,500-$27,000
- Single-motor rear-wheel-drive setup
- 263-mile driving range
- Efficient 132 MPGe rating
This Model 3 also uses a single electric motor, but with rear-wheel drive and the same 283 horsepower and 307 pound-feet of torque. It accelerates to 60 in 5.3 seconds, with a maximum speed of 140 MPH. Its efficiency makes this vehicle a powerful used EV 132 MPGe and 26 kWh per 100 miles. It is capable, with 263 miles of range, but suffers a lot of depreciation.
5. 2022 Hyundai Kona Electric
The original manufacturer’s suggested retail price of the 2022 Hyundai Kona Electric was $37,390. The average retail price of the Kona Electric on the used market is currently between $20,500 and $22,900, allowing for 41% depreciation and 59% retained value after two years. The Kona Electric has lost value since its launch due to increased competition from other subcompact cars and an increasing number of new drivers switching to larger electric SUVs. Its significant price drop could make it a bargain for pre-owned EV buyers.
Why Is the Kona Electric a Practical Choice:
- 41% depreciation over two years
- 59% value retention rate
- Front-wheel-drive electric powertrain
- 258-mile driving range
- Efficient 120 MPGe rating
The Kona Electric is powered by a single engine mounted in the front, which propels the front wheels, producing 201bhp and 291 lb-ft of torque. It takes 6.4 seconds to go from 0-60 MPH and maxes out at 104 MPH. The efficiency rating of 120MPGe and energy consumption of 28kWh/100 Miles also make the Kona Electric an affordable choice. The electric SUV has a driving range of 258 miles making it suitable as a commuter car for those not looking for a larger electric SUV.
6. 2022 Audi e-tron Premium
The 2022 Audi e-tron Premium was priced at an MSRP of $65,900 initially, but average used prices hover around $34,500-$37,800. Based on these numbers, your used 2022 e-tron has a depreciation of around 45%, with the remaining 55% that it was worth initially. As a luxury electric vehicle, Audi’s e-tron has suffered notable resale losses in part because its high starting prices can reduce its value on the second-hand market significantly. The original Audi e-tron model has been replaced by the Q4, Q6 and Q8 e-tron.
What Defines the Audi e-tron Premium:
- Approximately 45% depreciation
- Around 55% value retention
- Dual-motor Quattro all-wheel drive
- 402 horsepower in boost mode
- 222-mile electric driving range
E-tron Premium has two electric motors paired with Audi’s Quattro all-wheel drive, with 402 horsepower and 490 pounds-feet of torque in boost mode. Audi says it can go from 0 to 60 miles per hour in 5.5 seconds, with a top speed of 124 miles per hour and a driving range of 222 miles. Its efficiency rating of 78 MPGe and energy consumption of 43 kWh per 100 miles are on the low side among many non-luxury electric cars.
7. 2022 Jaguar I-Pace
The 2022 Jaguar I-Pace arrived with a starting price of $69,850. Since then, the average used price of I-Pace models has declined to the range of $35,000 to $38,800, with depreciation at around 45%. TheI Pace has seen significant impacts on the price of resale vehicles due to fluctuating demand and the rise of other luxury electric vehicle alternatives in recent years. Several newer options tout longer driving ranges or have undergone pricing adjustments that have contributed to the price drop of used I-Pace models.
What Makes the Jaguar I-Pace Appealing:
- Around 45% depreciation
- Original MSRP of $69,850
- Dual-motor all-wheel-drive system
- 234-mile driving range
- Strong acceleration and performance
The I-Pace’s all-wheel drive system features two electric motors which combine to generate 394 horsepower and 512 pound-feet of torque. The I-Pace reaches 0 to 60 MPH in 4.5 seconds and has a top speed of 124 MPH. Its electric driving range is 234 miles. It has an efficiency of 76 MPGe and consumes 44 kWh of energy per 100 miles traveled, meaning it is less efficient than other newer electric vehicles.
8. 2022 BMW i3
The 2022 i3’s MSRP when it first went on sale was $44,450. The average preowned prices, on the other hand, are now closer to $22,000-$24,800, which suggests that the BMW i3 currently depreciates at 46 percent. (The vehicle’s diminutive size as well as its modest mileage range on a single charge likely explain the poor resale value.) BMW announced that the i3 line would be discontinued for good in July 2022, and it has since released much larger electric cars like the iX and i4.
What Are the BMW i3’s Main Features:
- Approximately 46% depreciation
- Compact subcompact vehicle design
- Discontinued in July 2022
- 153-mile driving range
- Efficient 113 MPGe rating
The single electric motor on the i3 produces 170 horsepower and 184 lb-ft of torque to the back wheels. It can go from 0 to 60 MPH in 6.9 seconds and boasts a top speed of 93 MPH. Its driving range is 153 miles, so this vehicle should be considered a solution for cities with limited range. Still, the 113 MPGe efficiency estimate and use of 30 kWh to drive 100 miles make it an affordable choice for those who value efficiency.
9. 2022 Nissan Leaf SL Plus
The 2022 Nissan Leaf SL Plus was once sold new for $38,220, however used examples have depreciated to between $15,000 and $17,800. You’re looking at a 53% depreciation ratio, which means you’ve now got a 47% residual value on this car. Nissan’s original EV model, the Leaf, had become a lot less attractive by the time the original was being replaced, not only as its underlying platform architecture is getting long in the tooth, but newer models have also largely ditched it.
Why Is the Nissan Leaf Affordable Used:
- 53% depreciation after two years
- Only 47% value retention
- Single-motor front-wheel-drive system
- 226-mile driving range
- Affordable pre-owned EV option
It is fitted with a single electric motor, front-wheel-drive setup, that delivers 214 horsepower and 250 pound-feet of torque. The Leaf SL Plus is capable of accelerating from 0-60 MPH in 7.5 seconds, a top speed of 97 MPH, driving range of 226 miles, efficiency of 104 MPGe, and energy consumption of 32 kWh/100 miles. With a substantially lowered used price, this would be a fantastic entry-level model for a buyer looking for electric vehicle ownership.
10. 2022 Chevrolet Bolt EV
The 2022 Chevrolet Bolt EV entered the market at a competitive price of just $37,495. Its resale value, however, has taken a huge hit, and average used prices are now between $14,565 and $15,975. Only four electric vehicles will depreciate as quickly in the first two years of ownership as the Bolt EV. With a price on the used market much lower than the original retail, it can be an option for those limited in their budget to own an electric vehicle.
Why Consider the Chevrolet Bolt EV:
- Original starting price $37,495
- Used prices $14,600-$15,975
- Significant resale value decline
- Budget-focused electric vehicle
- More affordable pre-owned ownership
Even with its huge depreciation, the Bolt EV still is a very interesting vehicle in the budget EV segment. For drivers interested in plunging into the world of electric driving, however, the Bolt’s more affordable secondary market price might be enticing. If you’re looking at severely depreciated EVs, you can find options in every car segment from high-end performance to basic commuter cars and the Bolt EV’s secondary market value would seem to illustrate the downward curve of depreciation.
