UK Electric Car Depreciation Report: Top Models Losing Value in 2023
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- 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.
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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
