UK Electric Car Depreciation Report: Top Models Losing Value in 2023
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- Published on
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- By Dushyant
- (@dishs)
Carwow, in collaboration with Cap HBI, delves into the harsh reality of depreciation, focusing on the electric car market in the UK. The Porsche Taycan takes a brutal hit, losing 20% of its value in just a year. But the shock doesn't end there - the Kia EV6 and Cupra Born follow suit with a significant drop of 26.7% and 26.8%, respectively. It's a bloodbath out there for these electric machines.
Moving on to the Audi e-tron GT, its value plummets by 27%, while the Mercedes EQC and Renault Megane E-Tech suffer a 27.4% decline. The Aura Cat isn't spared either, facing a hefty 28.9% drop. And then there's the Mercedes EQB, shedding a whopping 30.7% in value. It's a tough world for these EVs, with each turn of the wheel costing owners a chunk of change.
Shifting gears to the BMW 7 Series hybrid, it bucks the trend with a 5.1% increase in value, unlike the BMW i4 which sees a 14.1% depreciation. The Volvo C40 and Toyota BZ4X take a hit of 31% and 32%, respectively. But the real shocker comes from the Lexus UX and Citroen C4 X, plummeting by 32.1% and 32.6%. It's a rough ride for these electric beasts in a market where internal combustion engines seem to hold their ground better.
Image copyright Youtube
Image copyright Youtube
Image copyright Youtube
Image copyright Youtube
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Viewer Reactions for The WORST depreciating EVs 2024!
Person with Porsche Taycan with 20 miles on it might be trying to get on the list for a 911 GT3 RS
Prefer buying slightly used cars over new ones
Trading in a car within a year is considered a waste, better to lease
Market adjustments in EV prices are expected as cheaper Chinese manufacturers enter the market
Depreciation rates vary significantly in different countries
Consider buying second-hand EVs rather than new ones
Concerns about the resale value and longevity of EVs compared to traditional vehicles
Infrastructure and high initial costs still affect the EV market
Some users express skepticism about the convenience and value of EVs
Some users suggest avoiding buying EVs altogether
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