Research Indicates EVs are Harder Hit by Depreciation than Regular Cars

If you were, just now, in the market for an electric vehicle but weren’t quite sure whether or not you should take the plunge, well, this is not encouraging information. The Telegraph quotes a study carried out by the pricing experts at Cap Automotive, who took the time to analyze UK second hand car prices through October of this year. Their findings indicate that electric vehicles, or EVs for short, suffered the worst depreciation of all fuel types surveyed. They discovered electric cars were, on average, worth just 20.2 percent of their purchase price when new after three years. When comparing this to diesels and petrol cars with their much more respectable 44.7 and 43.6 percent ratings, the discrepancy is very noticeable. However, while full EVs did very badly, hybrids like the Toyota Prius and Honda Insight actually surpassed the conventional bunch, retaining a value of 45.3 percent over the same period. Worth noting, though, is the fact that the study did not take into account the £5,000 grant given by the UK government towards the purchase of battery-powered electrics, or any other discounts that may make much more sense if you actually start doing the math. By Andrei Nedelea