Do premium electric vehicles hold value better? | RenewEconomy

Do premium electric vehicles hold value better?

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Do premium electric vehicles hold their value best? Data from Autotrader suggests yes, although there are some notable exceptions.

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Drag race between 2019 Jaguar I-Pace and Tesla Model X 100D electric cars. Source: Youtube/Jaguar
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The Driven

As soon a car is driven off the parking lot – or in the case of Tesla vehicles, off the auto carrier – its value drops, although it is generally agreed that a premium car should hold its value for longer. But to what extent does this apply to electric vehicles, which are already more expensive than petrol and diesel cars due to the cost of making the batteries that power them?

A new study put together by vehicle leasing company Vanarama suggests that it does, although there are some exceptions.

Using the Autotrader online car valuation tool, the company says that over the first 8,000km, the winners in terms of least depreciation are the Audi e-tron, Jaguar I-Pace and the Tesla Model X. Respectively, they are expected to lose 12%, 14% and 15% each in value over 8,000 kilometres.

But it is the vehicles that follow down the depreciation ladder that raise an eyebrow.

Based on UK pricing, it is the Volkswagen e-Up! that sells in the UK from £23,195 ($A43,964, although it is not available here) that comes in at number 4, with less than £4,000 ($A7,580) or 16% value expected to be lost in the first 8,000km driven.

Coming in at number 5 is the Hyundai Ioniq Electric, which sells from £33,960 in the UK and $A48,490 in Australia. According to the data put together by Vanarama, the Ioniq Electric will only lose 17% value over the first 8,000km.

In comparison, the Tesla Model S (one of the more expensive electric vehicles out there) came in at number 6, with an expected 18% value lost over 8,000 kilometres. Curiously, the Tesla Model 3 was not included in the study.

To read the full version of this story – and view the photo gallery – on RenewEconomy’s electric vehicle dedicated site, The Driven, click here…


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