WHY USED EV VALUES ARE DROPPING LIKE CRAZY

EV Channels Review

This video from Carwow, featuring Mat Watson, delves into the significant depreciation of electric vehicles (EVs) in the UK market over the past year. Utilizing data from CAP HPI, the analysis highlights the top 10 EVs that have experienced the steepest decline in value. Notably, the Porsche Taycan Turbo S, despite minimal mileage, shows a substantial loss. The Kia EV6, Seat Born, Audi e-tron GT, Mercedes EQC, Renault Megane E-Tech, ORA Funky Cat, Mercedes EQB, Volvo C40, Toyota bZ4X, Lexus UX, and Citroen C4 X are all featured, with the Citroen C4 X taking the dubious top spot for the largest percentage drop. The review consistently contrasts these EV depreciation figures with those of their petrol and diesel counterparts, revealing that internal combustion engine vehicles generally hold their value much better. The video suggests that normalizing supply chains and a potential oversupply of used EVs are contributing factors to this trend, concluding that EVs, in general, have performed worse than ICE cars in the secondhand market over the last 12 months.