10 EVs That Depreciate The Most After 2 Years Of Ownership

Car depreciation is unavoidable. Sports cars lose 56% of their value over five years, and it’s even worse for electric vehicles. We’ve already seen some of the worst depreciating EVs drop over half of their value after one year, and now we’re finding out which depreciate the most after two years. While there are some overlaps from the one-year list, there are surprising new entries below.

If you’re not fully committed to buying an electric car yet, or these losses scare you, a used hybrid vehicle is a solid investment that gives you the best of both worlds.

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 Kelley Blue Book, CarEdge, and Edmunds. The models below have been ranked based on their depreciation.

10

Porsche Taycan

Depreciation: 44.1%

As the German car brands’ first mainstream electric car, the Porsche Taycan positions itself as an exciting sports sedan. While there are Turbo and GTS models available with ridiculous speeds, the base model takes 5.1 seconds to reach 60 mph from zero, yet it would’ve cost $83,408 when new in 2023. Depreciating 44.1% in three years leaves used pricing around $36,841, which seems much more sensible.

Performance Specifications

The Taycan is long and heavy, but a two-speed electric motor and sports-tuned suspension add sensations other EVs lack. As expected, the interior is filled with high-quality materials and lots of cushioning to ferry passengers in comfort, or drivers can make solo journeys more fun in sports mode.

Pros

• Upscale interior
• Feels like a Porsche should
• Adaptive air suspension

Cons

• Only two seats in the rear, a third costs extra and is narrow
• Getting in and out of the low car can be hard work
• More expensive for similar stats to non-performance EVs

9

Mustang Mach-E

Depreciation: 44.6%

Positioned as a Mustang-inspired SUV, the Mustang Mach-E is, supposedly, an electric performance vehicle. While the GT variant is quick, the Select trim is in line with other EVs. Slapping that iconic horse badge all around the car set the price of a 2023 Mustang Mach-E Select at $43,795. Now, the used value is $24,245.

Performance Specifications

I worked for Ford when they first announced the concept, and I was really excited. The finished product was somewhat disappointing, not least because it didn’t have a beefy V8 engine like the Mustang GT. As far as electric cars go, 266 hp and a 0-60 of 6.8 seconds is slow, which may play a part in its depreciation. However, the Mach-E is a mean-looking car with some self-driving technology, and 230 miles of range from a single charge.

Pros

• Good range
• Sporty design
• Self-driving

Cons

• Falls short of suggested performance
• Handle-less door concept is awkward
• Coupe styling reduces rear headroom and cargo space

8

Kia EV6

Depreciation: 44.7%

Another electric SUV suffering from depreciation is the Kia EV6, specifically GT-line models. Costing $54,225 new, a used example is only $24,286, representing a 44.7% decrease in two years, according to Kelley Blue Book. Having tested the Kia EV6, I think it’s worth the original asking price. At almost half the price, a two-year-old EV6 is excellent value.

Performance Specifications

GT-line models look nearly identical to the full-fat EV6 GT. They get two rear spoilers, an augmented reality head-up display, and flush door handles. A minimalist interior with clean digital displays and a floating center console create a clutter-free cabin that feels as spacious as it is.

Pros

• Impressive range
• Regenerative braking actually feeds energy back to the battery.
• Reasonably fast charging

Cons

• Sports-tuned suspension is stiff
• Cargo space is less than rivals
• Need a wire to connect Apple Carplay and Android Auto

7

BMW iX

Depreciation: 47.4%

Taking minimalism to a new level, the BMW iX is the kind of car you’d expect to see in a science fiction movie. Unfortunately, even this isn’t future-proof. Losing 47.4% of its value in two years, a base model 2023 BMW iX went from $85,095 to $40,404 in no time. Climbing the range would take the starting price over $111,500 when new, with used values trending in the same direction.

BMW have also leaked videos of color-changing paint

Performance Specifications

Nonetheless, the iX is cool. It blends classic elegance with future technology by using chestnut-colored materials inside, while the front grill is self-healing. Goodbye stone chips! If that isn’t pioneering enough, BMW have also leaked videos of color-changing paint that can be controlled from a smartphone. I mean, nobody needs that, but everyone wants it.

Pros

• Self-healing panel
• Curved display
• Exquisite interior

Cons

• Can feel the weight in corners
• Slow charging speeds
• Recent serious recalls

6

Mercedes-EQ EQB

Depreciation: 50.3%

The Mercedes-EQ EQB is an electric family SUV with seven seats and a touch of class. You could save over 50% on a used EQB 300 4MATIC, paying just $29,177 compared to $57,950 when new. That saving is enough to look past its boxy rear end.

Performance Specifications

The EQB wears a flamboyant star-pattern front panel and flashy alloy wheels, while the interior is finished with ambient lighting, a digital instrument cluster, and an AI voice assistant that learns from your behavior. For example, if you stop for coffee on your way to work every morning, the system takes note and will use live traffic to let you know if you have time.

Pros

• Virtual assistant
• Classy interior
• Over-the-air purchases available

Cons

• Third row is barely usable
• Range depletes rapidly
• Small trunk for a seven-seat SUV

5

Nissan Leaf

Depreciation: 52.3%

The Nissan Leaf has been around for a while now. It was one of the first mass-produced electric vehicles on the road, even when there was little demand for one. Still, the resilient Leaf SV Plus can’t escape certain depreciation, losing 52% of its value after two years. Since the Leaf started at $37,135, you can get a used one for $17,706 today.

Performance Specifications

Admittedly, it’s not the sexiest of cars, but it does the job. As standard, the Leaf comes with a touchscreen, Apple CarPlay and Android Auto, and an HVAC timer to help with efficiency. The SV is a premium grade with leather seats, LED lights and an upgraded sound system. Even though it struggled to retain value, we’d hate to see the Leaf discontinued as a result of the failed Nissan and Honda merger.

Pros

• HVAC timer
• One-pedal driving
• Compact size is perfect for city driving

Cons

• Limited charging compatibility
• Placid driving experience
• Uncertain future for Nissan

4

Audi e-tron GT

Depreciation: 53.4%

Sharing a platform and battery with the Porsche Taycan, the Audi e-tron GT is an electric sports sedan that debuted in Avengers: Endgame as a futuristic car you can buy now. Even though they are practically the same car underneath, the 2023 Audi e-tron drops significantly more than the Taycan. It had a staggering starting price of $71,995, making current prices of $32,903 seem like a bargain, especially when a new Nissan Leaf costs more.

Performance Specifications

Being a luxurious sedan, the Audi e-tron GT has a premium interior with two digital screens adorning the dashboard. A flat-bottom steering wheel enhances the sports car’s attitude, while various drive modes let you tailor the driving experience depending on your mood. Perhaps the most impressive feature is rear-wheel steering, giving precision handling at speeds.

Pros

• Synthetic vehicle sound
• Futuristic design
• Boost mode

Cons

• 20-inch alloys increase road noise
• Narrow door openings
• Recent battery fires are cause for concern

3

Audi e-tron

Depreciation: 54.2%

The 2023 Audi e-tron would have cost $71,995 new, but now averages around $32,903 after depreciation of 54%. It’s not entirely the e-tron’s fault, though. It’s a mix of being a luxury SUV and an electric vehicle, plus being replaced by three other models; the Q4, Q6 and Q8 e-tron models. There simply isn’t any need for the original now.

Performance Specifications

It’s a real shame, since the e-tron had it all. It was powerful, quick, spacious and wore an Audi badge. Despite all this, the 222-mile range was less than similarly priced competitors, which made it a tough sell. Still, a used e-tron could be a great buy if you don’t do a lot of miles.

Pros

• Premium car
• Powerful and fast
• Desirable coupe styling

Cons

• Less range than competitors
• Now dated following new models
• Annoying haptic buttons

2

Volkswagen ID.4

Depreciation: 56.2%

Falling from $45,290 to $19,795 in 48 months must be sore for Volkswagen. Perhaps this 56% depreciation is the reason behind mass lay-offs and factory closures as the German brand struggles financially. The Volkswagen ID.4 looks a bit like a Tesla Model Y, but it’s nowhere near as good, and is bland compared to almost every other option in the competitive compact SUV market.

Performance Specifications

If you’re looking for a spacious SUV to take the kids to school and back, a used ID.4 is a great choice. Otherwise, it’s slow and boring. The interior is repeated in all VW group cars (Škoda, Cupra, Audi, and now some new Ford vehicles), and feels a bit cheap for the price. It does claim 260 miles range on a single charge, which is respectable.

Pros

• Good range
• Brand heritage
• Spacious

Cons

• Uninspiring
• Cheap interior finish
• Glitchy infotainment system

1

Mercedes-EQ EQS SUV

Depreciation: 60.6%

The Mercedes-EQ division tries to treat its electric vehicles as an independent brand from Mercedes-Benz and Mercedes-AMG, but they all share the same badge. However, the EQS SUV was an attempt at creating an electric competitor to Maybach, and has a matching price tag. The EQS SUV had an eye-watering MSRP of $105,550, but low demand drove value down a whopping 60% to $41,580.

Performance Specifications

Even a three-year-old EQS SUV has all the luxury finishes and advanced technology you’d expect from a Maybach, with an available MBUX Hyperscreen spanning the dashboard, an AI virtual assistant with voice control, and up to seven seats with head pillows.

Pros

• Air suspension
• Up to seven seats
• Dolby Atmos surround sound

Cons

• Expensive
• Short windscreen and thick pillars increase blind spots
• Third row feels cramped

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It’s unfortunate that electric vehicles can lose half their value in two years, because some are phenomenal. However, this is great news for used car buyers who are considering making the switch to an EV. If you’re budget-conscious and don’t want to throw away 50% of your investment in 48 months, waiting for a lightly-used model could save you a lot of money.