Teslas have both the highest and lowest 5-year depreciation among EVs with the Model S claiming the highest and Model 3 the lowest.
According to an iSeeCars study, electric vehicles are the worst in terms of holding value , while hybrids and pickup trucks are the best at retaining value over a 5-year period. iSeeCars stated: Electric vehicles are the worst segment at holding their value, losing 49.1 percent in five years. Trucks and hybrids retain the most value, losing only 35 and 37 percent, respectively. On the plus side for EVs is that, back in 2019, electric vehicles lost an average of 67.
Karl Brauer, iSeeCars executive analyst, explains what's at play here: Between incentives that effectively lower an EV’s price before it’s even purchased and concerns about battery replacement costs, used electric vehicles have always suffered higher depreciation than equivalent gasoline cars. This pattern will continue until electric vehicles don’t require heavy incentives to sell and consumers gain confidence in their long-term ownership costs.
Tesla Model S Model 3 Evs Electric Vehicles Depreciation Holding Value Iseecars Study Hybrids Pickup Trucks
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