Video Summary
Used car values for all new models sold in the UK are tracked with data. Depreciation isn't a new problem for cars. Specifically looking at the drop in the value of second-hand electric cars is tracked. Here are some models and data associated with value drop in the past year for a one-year-old car with 10k miles.- Porsche Taycan had a 20% drop at £15,806.
- Kia EV6 has a 26.7% drop, from £44,567 down to £32,692.
- Cupra Born has a 26.8% drop, from £31,079 down to £22,771, in comparison to the gas engine Cupra Leon dropping just 16.4%.
- Audi E-Tron GT has a 27.0% drop while Audi A7 Diesel dropped by 2.7%, and a petrol 1.7%.
- Mercedes EQC and Renault Megane E-Tech dropped by 27.4%.
- ORA Cat’s used value has dropped by £7000, resulting in 28.9% drop.
- The electric Genesis GV70 rose on average to over 45K, but some other models had more stable results in general.
Overall, electric cars performed worse than internal combustion engines.
