There are still a lot of concerns that the electric car market needs to overcome until it becomes a more viable segment for consumers. One of the most noteworthy problems it faces is how drastically these vehicles depreciate once they hit the used market.
EV depreciation rates
are influenced by several factors, including a lack of understanding from the market, the inconvenience of not having a substantial public charging network, and the rapid rate at which the industry evolves, resulting in preceding models becoming more outdated.
As a result, we’ve seen some of the greatest depreciation rates for new electric cars that have lost more than half of their value within the first three years of ownership. We fully expect this to become a less prevalent problem as time progresses, but for the time being, these are some options that have suffered from the worst value losses over the last three years. These results reference electric cars sold in 2021, of which there aren’t many, so the sample size is much more concentrated when compared to today’s offerings.
In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from various manufacturer websites and other authoritative sources, including Consumer Reports, J.D. Power, and the EPA. We’ve ranked the models below based on their average retail price, from lowest to highest, but we also take depreciation into strong consideration.
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1
2021 Chevrolet Bolt
Average Used Price: $14,600 – $15,975
The 2021 Chevrolet Bolt range currently sells for between $14,600 and $15,975. The range started at $37,495 back in 2021, which reflects a 39 percent value retention. The Chevrolet Bolt‘s 5/100 reliability rating from Consumer Reports is due to the horrendous battery recall that resulted in a few models spontaneously combusting while charging.
Performance Specifications
| Powertrain | Single Permanent-Magnet Motor |
|---|---|
| Transmission | Single-Speed Automatic |
| Horsepower | 200 HP |
| Torque | 266 LB-FT |
| Driveline | Front-Wheel Drive |
| 0-60 MPH | 6.5 Seconds |
| Top Speed | 93 MPH |
If you can find a unit with a resolved battery pack, it makes for a pretty impressive deal. J.D. Power gives the same model an impressive 77/100 for quality and reliability, justifying it as a fairly resilient used electric car. Although not the fastest electric car, the Bolt EV returns a good 120 MPGe and 28 kWh per 100 miles on the EPA’s combined cycle. The smaller battery pack means you’re only going to be covering 259 miles every charging cycle.
2
2021 BMW i3
Average Used Price: $18,000 – $22,375
The 2021 BMW i3 is the final model year for the innovative subcompact EV and sells for anywhere between $18,000 and $22,375. The
i3 was an expensive and niche subcompact EV
that cost as much as $45,445 when new, meaning it struggles with a 40 percent value retention rate.
Performance Specifications
|
i3 |
i3S |
|
|
Powertrain |
Single Permanent-Magnet Motor |
Single Permanent-Magnet Motor |
|
Transmission |
Single-Speed Automatic |
Single-Speed Automatic |
|
Horsepower |
168 HP |
181 HP |
|
Torque |
184 LB-FT |
199 LB-FT |
|
Driveline |
Rear-Wheel Drive |
Rear-Wheel Drive |
|
0-60 MPH |
7.2 Seconds |
6.0 Seconds |
|
Top Speed |
93 MPH |
93 MPH |
Both the i3 and i3S feature an EPA-estimated 153-mile range and 30 kWh per 100 miles combined energy consumption estimate. The less powerful derivative produces 168 horsepower, while the sporty S model increases output to 181 horsepower.
3
2021 Mini Cooper SE
Average Used Price: $19,975 – $22,700
For whatever reason, no major publication in the U.S. gives the Mini Cooper Electric a dedicated used value range. Instead, it ropes the model in with the entire ICE line, resulting in a bit of confusion. Based on existing used listings, we can see that the subcompact EV currently sells for $19,975, with select models asking as much as $22,700. A new 2021 model year example would have set you back by $30,750, meaning it has retained a very impressive 65 percent of its value.
Performance Specifications
|
Powertrain |
Single Permanent-Magnet Motor |
|
Transmission |
Single-Speed Automatic |
|
Horsepower |
181 HP |
|
Torque |
199 LB-FT |
|
Driveline |
Front-Wheel Drive |
|
0-60 MPH |
6.0 Seconds |
|
Top Speed |
93 MPH |
The
Mini Cooper Electric
features a single permanent-magnet motor located on the front axle, which churns out 181 horsepower and 199 pound-feet. The EPA estimates this subcompact urban cruiser will only cover 110 miles on a single charge, but it benefits from a generous 31 kWh per 100 miles combined energy estimate.
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4
2021 Tesla Model 3
Average Used Price: $21,925 – $26,200
The 2021 Tesla Model 3 currently sells for $21,925 to $26,200. When new, pricing started at $42,490, equating to a 52 percent value retention rate. Its 40/100 reliability rating from Consumer Reports is one of the better figures on this list, while a 74/100 reliability score from J.D. Power is understandable when you consider the NHTSA subjects the model year to seven recalls. The same model year also benefits from a preferable 4/5 owner satisfaction rating.
Performance Specifications
| Rear-Wheel Drive | Long Range | Performance | |
|---|---|---|---|
| Powertrain | Single Permanent-Magnet Motor | Dual Permanent Magnet Motors | Dual Permanent Magnet Motors |
| Transmission | Single-Speed Automatic | Single-Speed Automatic | Single-Speed Automatic |
| Horsepower | 271 HP | 394 HP | 510 HP |
| Torque | 310 LB-FT | 337 LB-FT | 546 LB-FT |
| Driveline | Rear-Wheel Drive | All-Wheel Drive | All-Wheel Drive |
| 0-60 MPH | 5.8 Seconds | 4.2 Seconds | 2.9 Seconds |
| Top Speed | 125 MPH | 125 MPH | 163 MPH |
The 2021 Model 3 range benefits from some of the best EPA-estimated efficiency ratings. The base rear-wheel-drive variant is the most attractive example with its 132 MPGe or 25 kWh per 100 miles combined energy consumption estimate. With the standard battery pack, it covers 272 miles per charge, but dual-motor variants with the extended battery increase this figure to 358 miles.
5
2021 Polestar 2
Average Used Price: $24,050 – $26,450
The Polestar 2 is yet another niche EV sedan that would cost you anywhere between $61,200 and $66,200. Consumer Reports now values the range between $24,050 and $26,450, resulting in a 40 percent value retention. J.D. Power indicates that people are paying around $25,179 to $27,766, which is a bit more gracious but still reflects a catastrophic depreciation rate.
Performance Specifications
| Single-Motor | Dual-Motor | |
| Powertrain | Single-Permanent-Magnet Motor | Dual-Permanent-Magnet Motor |
| Transmission | Single-Speed Automatic | Single-Speed Automatic |
| Horsepower | 231 HP | 408 HP |
| Torque | 243 LB-FT | 487 LB-FT |
| Driveline | Front-Wheel Drive | All-Wheel Drive |
| 0-60 MPH | 7.0 Seconds | 4.5 Seconds |
| Top Speed | 125 MPH | 125 MPH |
The previous model year was available with a front-driven single motor, which Polestar has replaced with a rear-wheel drive configuration for this year. The older single-motor model wasn’t the fastest EV around, pushing a mere 231 horsepower, which affords it a 7.0-second 0-60 MPH time. The dual-motor model is substantially more attractive with its 408-horsepower output, which gets it from 0-60 MPH in 4.5 seconds.
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6
2021 Lucid Air
Average Used Price: $30,800 – $82,175
The Lucid Air suffers from one of the biggest losses on this list. When new, a base Pure trim would cost $77,400. The flagship Grand Touring costs as much as $139,000. Today, Consumer Reports indicates that this range will cost between $30,800 and $82,175, indicating a 40 percent value retention rate. We’d say this is probably the best option you can consider in the used market, considering how much value the Air range offers at those prices.
Performance Specifications
| Pure | Touring | Grand Touring | |
| Powertrain | Single Permanent-Magnet Motor | Dual Permanent-Magnet Motors | Dual Permanent-Magnet Motors |
| Transmission | Single-Speed Automatic | Single-Speed Automatic | Single-Speed Automatic |
| Horsepower | 430 HP | 620 HP | 819 HP |
| Torque | 406 LB-FT | 885 LB-FT | 885 LB-FT |
| Driveline | Rear-Wheel Drive | All-Wheel Drive | All-Wheel Drive |
| 0-60 MPH | 4.5 Seconds | 3.4 Seconds | 3.0 Seconds |
| Top Speed | 124 MPH | 140 MPH | 168 MPH |
The rear-wheel drive Pure offers a great blend of efficiency and performance with its 430-horsepower rear-wheel drive motor, which gets you from 0-60 MPH in 4.5 seconds. The Grand Touring ups the ante with its 819-horsepower dual-motor configuration, returning a 3.0-second 0-60 MPH time. The Performance package increases this to 1,050 horsepower, resulting in a 2.7-second tested 0-60 MPH time.
2:19
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7
2021 Tesla Model S
Average Used Price: $36,350 – $54,875
Depending on the specification, the 2021 Tesla Model S typically sells for around $36,350 to $54,875. This is substantially less than the $96,440 starting price when it was new, resulting in a 38 percent value retention result. Unfortunately, the 2021 Tesla Model S‘s 75/100 reliability score from J.D. Power is substantially lower than the other cars on this list. This is primarily due to the fact that the NHTSA hit this model year with 16 recalls relating to several aspects of the car. Tesla resolved some of these via convenient over-the-air updates.
Performance Specifications
| Model S | Model S Plaid | |
|---|---|---|
| Powertrain | Dual Permanent-Magnet Motor | Triple Permanent-Magnet And AC Induction Motors |
| Transmission | Single-Speed Automatic | Single-Speed Automatic |
| Horsepower | 670 HP | 1,020 HP |
| Torque | 755 LB-FT | 1,050 LB-FT |
| Driveline | All-Wheel Drive | All-Wheel Drive |
| 0-60 MPH | 3.1 Seconds | 1.99 Seconds |
| Top Speed | 130 MPH | 200 MPH |
When it comes to performance, the model needs no introduction, but where range and efficiency are concerned, it’s pretty impressive. The base dual-motor model returns 120 MPGe and 28 kWh per 100 miles with a near-class leading 405-mile range.
8
2021 Mercedes-Benz EQS
Average Used Price: $38,025 – $66,325
The Mercedes-Benz EQS range struggles with some catastrophic depreciation rates. The base 450+ trim starts at $102,310, while the EQS 580 costs as much as $119,110. Again, this is before you tick any of the brand’s high-priced options. Today, Consumer Reports suggests that the car is worth anywhere between $38,025 and $66,325, meaning it only holds 37 percent of its original value.
Performance Specifications
| EQS 450+ | EQS 450 4Matic | EQS 580 4Matic | |
| Powertrain | Single Permanently- Excited Synchronous Motor | Dual Permanently- Excited Synchronous Motors | Dual Permanently- Excited Synchronous Motors |
| Transmission | Single-Speed Automatic | Single-Speed Automatic | Single-Speed Automatic |
| Horsepower | 329 HP | 335 HP | 516 HP |
| Torque | 417 LB-FT | 590 LB-FT | 631 LB-FT |
| Driveline | Rear-Wheel Drive | All-Wheel Drive | All-Wheel Drive |
| 0-60 MPH | 5.9 Seconds | 5.3 Seconds | 4.1 Seconds |
| Top Speed | 155 MPH | 155 MPH | 155 MPH |
Mercedes-Benz and AMG grant the EQS range higher outputs to extend the gap from the EQE. The base 350 Plus features a single motor that generates 329 horsepower, resulting in a 5.9-second 0-60 MPH time. The 580 dual-motor generates 516 horsepower, which gets it from 0-60 MPH in just 4.1 seconds. The AMG model’s 751-horsepower output lets it compete with some of the more powerful EV options in the market, with its 3.2-second claimed 0-60 MPH time.
9
2021 Porsche Taycan
Average Used Price: $45,525 – $102,100
2021 Porsche Taycan modes, from the base to the flagship Turbo S, sell for between $45,525 and $102,100. When new, these models would have cost $81,250 to $186,350, reflecting a 56 percent value retention rate. Despite having 9 recalls attached to its name, the 2021 Porsche Taycan benefits from some of the highest reliability ratings for an electric car. J.D. Power hits it with a 76/100 quality and reliability score. By German performance car standards, these are some pretty outstanding results.
Performance Specifications
| Powertrain | Single-AC Synchronous Motor | Dual-AC Synchronous Motor | Dual-AC Synchronous Motor | Dual-AC Synchronous Motor | Dual-AC Synchronous Motor | Dual Permanent-Magnet Motors |
|---|---|---|---|---|---|---|
| Transmission | Two-Speed Automatic | Two-Speed Automatic | Two-Speed Automatic | Two-Speed Automatic | Two-Speed Automatic | Two-Speed Automatic |
| Horsepower | 402-469 HP | 523-563 HP | 598 HP | 671 HP | 751 HP | 1,019 HP |
| Torque | 54-263 LB-FT | 472-479 LB-FT | 627 LB-FT | 627 LB-FT | 774 LB-FT | 988 LB-FT |
| Driveline | Rear-Wheel Drive | All-Wheel Drive | All-Wheel Drive | All-Wheel Drive | All-Wheel Drive | All-Wheel Drive |
| 0-60 MPH | 5.1 Seconds | 3.8 Seconds | 3.5 Seconds | 3.0 Seconds | 2.6 Seconds | 2.1 Seconds |
| Top Speed | 143 MPH | 143 MPH | 155 MPH | 162 MPH | 162 MPH | 180 MPH |
The most economical Taycan is the base rear-wheel drive with the Performance battery, returning an EPA-estimated 79 MPGe or 42 kWh per 100 miles on the combined cycle. The dual-motor 4S with the Performance Plus battery returns the best range, but that only amounts to 227 miles on a single charge.
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10
2021 Audi E-Tron GT
Average Used Price: $47,175 – $66,325
Compared to the other cars on this list, we’d say the Audi E-Tron GT holds its value fairly well, especially when you consider how niche of a high-end EV it really is. When new in 2021, you would have spent $100,995 for the Premium Plus trim and a couple of thousand more for the Prestige. The RS would have set you back by $140,000. Consumer Reports values the non-RS range at $47,175 to $66,325, suggestinga 47 percent value retention rate. J.D. Power’s valuation, which includes the RS, indicates a value between $89,233 and $122,527.
Performance Specifications
| E-Tron | RS E-Tron | |
| Powertrain | Dual Permanent-Magnet Motors | Dual Permanent-Magnet Motors |
| Transmission | Two-Speed Automatic | Two-Speed Automatic |
| Horsepower | 523 HP | 637 HP |
| Driveline | All-Wheel Drive | All-Wheel Drive |
| 0-60 MPH | 3.9 Seconds | 2.5 Seconds |
| Top Speed | 152 MPH | 155 MPH |
The E-Tron GT is a performance-oriented high-end EV that sources technology from the Porsche Taycan. The standard E-Tron GT produces 523 horsepower, resulting in a claimed 3.9-second 0-60 MPH time. The RS model pumps out 637 horsepower, which gets it from 0-60 MPH in 2.5 seconds.
