EVs Depreciate More Than ICE And Hybrids After Five Years

The Tesla Model S is the EV that depreciates the most, losing an average of 55.5% of its value after five years. Meanwhile, the smaller sedan sibling, the Model 3, depreciates the least among EVs by an average of 42.9%. The study only showed five models (Tesla Model 3, Tesla Model X, Nissan Leaf, Chevrolet Bolt EV, and Tesla Model S), which is understandable considering they coincide with the five-year study.

We could see higher depreciation in the coming years as technologies in the EV segment rapidly develop. One of which is the solid-state battery championed by brands like Toyota. This type of battery would significantly improve EVs’ range and charging time, ridiculing what most electric models could offer today.