A recent research by the US-based iSeeCars may force you to reconsider buying an EV. One big issue between a prospective buyer and an EV is the high investment cost. To make matters worse, the research suggests that they might not be a good investment after all. With major EVs losing more than a quarter of their value in just a year. Here are some of the EVs that witnessed a major drop in value after just a year.
|
Make/Model |
Difference Used Vs New (percentage) |
Difference Used Vs New (Price) |
Average Used Price |
|---|---|---|---|
|
Mercedes-Benz EQS |
-47.8% |
-$65,143 |
$71,23 |
|
Nissan Leaf |
-45.7% |
-$15,786 |
$18,756 |
|
Kia EV6 |
-33.3% |
-$18,081 |
$36,243 |
|
Hyundai Ioniq 5 |
-$32.9% |
-$16,805 |
$34,303 |
|
Volkswagen ID.4 |
-32.9% |
-$15,609 |
$31,870 |
|
Ford Mustang Mach-E |
-29.8% |
-$16,364 |
$38,543 |
|
Chevrolet Bolt EUV |
-28.2% |
-$9,151 |
$23,320 |
|
Chevrolet Bolt EV |
-28.0% |
-$8,633 |
$22,229 |
The Mercedes-Benz EQS tops the list with a drop in value by 47.8%, averaging at just $65,143. The list also features prominent EVs like the Nissan Leaf and the Kia EV6 which also face a drop in value by 45.7% and 33.3% respectively. The list also features cars like the Ioniq 5 and the Mustang Mach-E which have been the flagship EVs of Hyundai and Ford respectively. nz
However, few EVs like the Tesla Model Y and Model X have shown reasonable depreciation.
What we have learned so far from the research by iSeeCars is that a hybrid might be the best investment if you're in the car market. Both flagship EVs and ICE cars have shown drastic decreases in value which begs the question, are they worth the big bucks? Hybrids on the other hand have managed to retain most of their value. Overall, we suggest you opt for the used car options, which can be a bargain if you want to embrace the future at a reasonable price, or just go for a hybrid.
