Electric driving is about to become available to a whole new swath of car buyers, as substantial numbers of EVs enter the used-vehicle market. Continual improvements are decimating resale values for most models – a tough break for early adopters, but great news for bargain-seekers.
The latest issue of the National Automobile Dealers Association’s Used Car Guide Perspective details just which EV models have the best and worst value retention.
The trendy Tesla Model S holds its value the best, selling for an average of 83% of MSRP after one year, 71% after two years and 57% after three years. The worst (or best, if you’re looking to buy) bet is the minuscule Mitsubishi i-MiEV, which can be had for as little as 21% of its original price after three years.
The best-selling EV, the Nissan LEAF, which has had a regular schedule of price cuts and battery upgrades, also ranks near the bottom. Three-year-old LEAFs are going for around 25.3% of MSRP.
Green Car Reports noted that NADA’s analysis leaves something to be desired – it is based solely on MSRP, ignoring the effects of federal tax credits, state-level incentives and manufacturer discounts.