EVs Lose Value Quicker Than Gasoline Vehicles, KBB Reports
Chevrolet Spark EV photo courtesy of GM.
Most plug-in electric vehicles will depreciate more dramatically over five years than their conventional gasoline counterparts, according to a new report from Kelley Blue Book commissioned by USA Today.
The study looked at several examples, including the Chevrolet Spark EV, Ford Focus Electric, and Nissan LEAF. The Spark EV is expected to be worth 28% of its $28,305 list price in five years, while the gasoline version would retain 40% of its value.
The Focus Electric would be worth 20% of its initial $35,995 list price, while a gasoline Focus Titanium with an automatic transmission would command 36%.
The LEAF, Fiat 500e, and smart fortwo electric topped the list of models projected by KBB to have the highest depreciation.