07/22/2019

Electric Vehicles Lose Value Faster Than Other Vehicles

Source: Fleet Management Weekly

When shopping for a new vehicle, the lower maintenance and repair needs, plus lower energy costs can make electric car ownership appealing – until the appalling resale value is discovered.

The average new electric vehicle loses 56.6 percent of its original value in three years. Tesla is an exception to the rule as the average Model S remains worth a strong $57,517, which is just a 17.1-percent reduction from its price.

The average among all kinds of vehicles is 38.2 percent of depreciation over three years.

Read the article at Green Car Reports.