Used vehicles that lose you the most money – EVs are the worst performers… is your car on the list?
THE USED vehicles that lose you the most money have been revealed – and EVs are the worst performers.
Data collected from Auto Trader’s latest Retail Price Index found that the four biggest depreciators last month were all EVs.
The Jaguar I-Pace (21.8%), VW ID.3 (17.2%), and Tesla Model 3 (17.1%) all had significant declines in value in February.
Also in the top ten was another Tesla – the Model S (12,8%) and the Audi e-tron (16%).
The Vauxhall Mokka (9.9%) also featured on the list, but this included both petrol and electric powertrains.
The results echo a similar finding recently published by valuations experts CAP HPI, which reported a tailspin in EV values of 7.7% at three years old.
Two weeks ago, Auto trader reported that average used EV prices on its platforms had fallen 9.1% in February.
It comes as Elon Musk slashed the price of new Tesla Model S and Y vehicles, causing used Tesla prices to tank.
Overall, more than half of the top ten models that lost the most money were EVs.
And the petrol cars that decreased its value the most were Land Rover Discovery 4 (9.1%), the Mini Paceman (9.2%), the Audi SQ5 (9.6%) and the Hyundai ix35 (13.4%).
These are the top ten depreciating used cars in February.
1. Jaguar I-Pace
Average asking price: £42,989
Price drop: 21.8%
2. Volkswagen ID.3
Average asking price £30,711
Price drop: 17.2%
3. Tesla Model 3
Average asking price: £35,603
Price drop: 17.1%
4. Audi e-tron
Average asking price: £47,554
Price drop: 16%
5. Hyundai ix35
Average asking price: £7,065
Price drop: 13.4%
6. Tesla Model S
Average asking price: £40,579
Price drop: 12.8%
7. Vauxhall Mokka
Average asking price: £11,717
Price drop: 9.9%
8. Audi SQ5
Average asking price: £31,911
Price drop: 9.6%
9. Mini Paceman
Average asking price: £9,858
Price drop: 9.2%
10. Land Rover Discovery 4
Average asking price: £18,408
Price drop: 9.1 per cent