UK: Some used Electric Cars are appreciating in value

ChiragM · 2nd December 2019, 18:43

According to a study conducted in the UK, the resale value of some used electric cars is increasing.

UK: Some used Electric Cars are appreciating in value-renaultzoepluggingin1024x674.jpg

Data consisting of the four most-searched electric cars was examined for a study. It included electric cars like the BMW i3, Nissan Leaf, Renault Zoe and the Tesla Model S.

The study shows that the value of 2015 models of the Zoe and the i3 has increased, while the value of equivalent combustion-engined cars has gone down. Between January and November 2019, the value of the Zoe increased by 14%, while that of the i3 increased by 1%. Values of equivalent 2015 Ford Fiesta and 2015 Mini fell by 13% and 14% respectively.

UK: Some used Electric Cars are appreciating in value-car-gurus-data.jpg

Even for electric cars that lost value, the depreciation is not as much as that of combustion-engined cars. During the same period, a 2015 Nissan Leaf's value fell by 9%, while an equivalent 2015 Volkswagen Golf lost 11% of its value. A 2015 Tesla Model S depreciated by 16%, while a 2015 Mercedes S-Class lost 22% of its value.

Link to Team-BHP News

Source

GTO · 3rd December 2019, 08:19

. A very unique article, thanks for sharing.

New car prices are set by the manufacturer, but used car prices are set by the customer! Clearly, interest in EVs has shot up, especially over the last 2 years. Can think of a couple of other reasons. First, the used market offers affordable EVs (new EVs are still overpriced). Then, because of the relatively lower sales, supply of used EVs remains limited.

2nd December 2019, 18:43	#1
ChiragM Senior - BHPian Join Date: Apr 2018 Location: Bangalore Posts: 1,546 Thanked: 17,346 Times	UK: Some used Electric Cars are appreciating in value According to a study conducted in the UK, the resale value of some used electric cars is increasing. Data consisting of the four most-searched electric cars was examined for a study. It included electric cars like the BMW i3, Nissan Leaf, Renault Zoe and the Tesla Model S. The study shows that the value of 2015 models of the Zoe and the i3 has increased, while the value of equivalent combustion-engined cars has gone down. Between January and November 2019, the value of the Zoe increased by 14%, while that of the i3 increased by 1%. Values of equivalent 2015 Ford Fiesta and 2015 Mini fell by 13% and 14% respectively. Even for electric cars that lost value, the depreciation is not as much as that of combustion-engined cars. During the same period, a 2015 Nissan Leaf's value fell by 9%, while an equivalent 2015 Volkswagen Golf lost 11% of its value. A 2015 Tesla Model S depreciated by 16%, while a 2015 Mercedes S-Class lost 22% of its value. Link to Team-BHP News Source
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3rd December 2019, 08:19	#2
GTO Team-BHP Support Join Date: Feb 2004 Location: Bombay Posts: 70,497 Thanked: 300,308 Times View My Garage	re: UK: Some used Electric Cars are appreciating in value . A very unique article, thanks for sharing. New car prices are set by the manufacturer, but used car prices are set by the customer! Clearly, interest in EVs has shot up, especially over the last 2 years. Can think of a couple of other reasons. First, the used market offers affordable EVs (new EVs are still overpriced). Then, because of the relatively lower sales, supply of used EVs remains limited.
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