EV Depreciation Is Still Brutal. But Hybrids Should Give Us Hope

"The average five-year-old EV has lost 57.2% of its value, far worse than the overall average of 41.8% or the figure for hybrids at 35.4%."

"Electric models account for half of the top ten fastest depreciating models, with early Volkswagen ID.4s losing an average of 62.1% of their value."

"Hybrids currently depreciate less than gas or electric vehicles, with a depreciation rate of 35.4% over five years, a significant improvement from their past."

"As consumers become more familiar with new technology, they recognize its benefits, leading to improved perceptions and value retention over time."

Electric vehicles (EVs) experience rapid depreciation, losing an average of 57.2% of their value over five years, compared to 41.8% for all vehicles and 35.4% for hybrids. This trend indicates that EVs are currently the fastest depreciating vehicle type. Despite this, hybrids have improved in value retention, now depreciating less than both gas and electric vehicles. The shift in consumer perception and technology improvements has contributed to hybrids' better performance in the market, suggesting a potential future stabilization for EVs as they become more familiar to consumers.

Read at insideevs.com