10 Electric Cars That Depreciate The Most After 1 Year Of Ownership

Unless you own a rare or classic car that ages like a fine wine, the reality is that your car will depreciate. And an unfortunate reality stacked on top of that is that electric cars depreciate much faster. Here are the ten hardest-hit models.

Not all cars lose value at the same rate, of course. For example, prices for reliable Japanese cars, like Lexus and Toyota, hold steady due to buyer confidence in used models, whereas we’ve looked at sports cars that drop 56% of their value over five years.

Electric vehicles are severely affected by depreciation and take the hit much sooner than other vehicles. Some lose almost half of their original value in just one year. Even though they’re constantly improving and upcoming EV technologies could change the game, many drivers are still unsure about.

Instead of buying a new electric car, you could save thousands on a slightly-used example from this list. And for an even better value proposition, consider looking at used hybrid vehicles to enjoy a slower rate of depreciation coupled with longer effective ranges.

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10

Audi E-Tron GT

1-Year Depreciation: 30.4%

First hinted at in the Avengers: Endgame, driven by fictional tech billionaire Tony Stark, The Audi E-Tron GT is a futuristic looking car you can buy right now. Thankfully, you don’t need to be super rich to get your hands on one. While this is the least depreciated model on our list, the E-Tron GT still lost $32,938 in a year, now costing $75,057 compared to $107,995 when new.

Performance Specifications

That’s still a lot of cash, but it’s a bargain. The Audi E-Tron GT shares a platform and battery with the more expensive Porsche Taycan, making it a thrilling sports sedan. With launch control and rear-wheel steer, even fans of combustion engines will praise its performance.

Audi E-Tron GT Key Features

• 10.1-inch touchscreen
• Audi Virtual Cockpit
• Laser light headlights
• 20-ich alloy wheels
• Flat bottom steering wheel

9

Mercedes-EQ EQS SUV

1-Year Depreciation: 32.2%

The Mercedes-EQ EQS SUV is a luxury family hauler, available with up to seven seats. Sophisticated technology, including a hyperscreen spanning the dashboard and standard air suspension, took the starting price of a 2024 model to $105,450. Now, a barely used example $71,464. This might be slightly less sore if it gets scratched testing Mercedes’ off-road driving mode.

Performance Specifications

The interior of the EQS SUV is simply exquisite. Front seat passengers can get a massage on the go, while the middle row gets an optional removable tablet in the center armrest, and a wireless phone charging pad.

Mercedes-EQ EQS SUV Key Features

• MBUX Hyperscreen
• Off-road mode
• Air suspension
• Dolby Atmos surround sound
• Seven seats

8

Mercedes-EQ EQB

1-Year Depreciation: 34.6%

Similar to the previous entry, the EQB is another fully-electric SUV from Mercedes-EQ, with up to seven seats. The two are vastly different, though. The EQB is more pragmatic. It’s less about neck pillows and more focused on families who want a premium SUV that doesn’t break the bank, even if it is boxy.

Performance Specifications

That said, the EQB has a flashy exterior. Instead of a boring, gloss black plastic panel, the front gets a Mercedes-Benz star pattern and big alloys add curb appeal. The

touchscreen inside the car
is smaller than the EQE, but has the same MBUX AI voice assistant. Plus, certain optional features can be purchased and activated via over-the-air updates, so there’s no need for a factory order to get a specific function.

Mercedes-EQ EQB Key Features

• Star-pattern panel
• LED light band
• AI voice assistant
• Backup camera
• Over-the-air purchases

7

BMW iX

1-Year Depreciation: 34.6%

At first glance, the BMW iX has a futuristic design, yet its minimalist interior filled with screens keeps classic themes through timeless colors like Mocha and Castanea Chestnut. The front grill is self-healing, the first of its kind in the automotive world, and there have been hints of color-changing paint to come.

Performance Specifications

A base model would’ve cost $88,095 new, with higher trims reaching over $111,500. A one year old iX now sits around $57,606. Recent recalls for unintentional cruise control activation and poorly secured battery cell monitors should be noted.

BMW iX Key Features

• Hands-free driving
• Curved display
• Self-healing grille
• Hexagonal wheel
• Electro chromatic panoramic roof

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6

Tesla Model Y

1-Year Depreciation: 36.9%

Used electric car values drop considerably over time, but sometimes other factors cause rapid depreciation. For most automakers, the owners and CEOs generally stay distanced from the daily running. However, Elon Musk is not camera shy. Without becoming political, Musk’s recent television coverage has been damaging his image among a lot of people around the world. Many now shun Tesla products, and fans are more interested in the 2025 Tesla Model Y facelift. This means older models are significantly less desirable, so dealers are lowering prices to sell them. They’ve already lost around 37% of their original value, from $44,630 to $28,117, and we expect this to drop even further in the following months.

Performance Specifications

As far as EVs go, the Model Y is good. There are a few issues with build quality, but nobody can argue with the level of tech, power, and range at this price. Inside is spacious, and kids will be fascinated with the autopilot, but the advanced screen lacks Apple CarPlay and Android Auto. The Tesla supercharger network is also one of the best in the world, effortlessly charging cars to 80% in as little as 15 minutes.

Tesla Model Y Key Features

• Acoustic glass
• Video streaming services
• Autopilot
• Heat pump
• Connected App

5

Tesla Model 3

1-Year Depreciation: 36.9%

For the same reason as above, the Model 3 sees similar depreciation. Once $40,630, a year-old model can be picked up for $25,597. The Model 3 was refreshed just last year. There are a few cosmetic changes, such as slimmer headlights, but the body was re-shaped for better efficiency, thus improving driving range on a single charge. It takes minimalism to a whole new level, removing all the stalks in favor of wheel-mounted indicator buttons and a gear selection slider on the touchscreen.

Performance Specifications

Tesla Model 3 Key Features

• Super bright LED taillights
• Ambient lighting
• 8-inch rear display
• Dual wireless phone chargers
• Mobile phone key

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4

Nissan Leaf

1-Year Depreciation: 40.2%

Before the recent surge in production, Nissan offered an affordable EV for buzzing around town. In its second generation, the Nissan Leaf remains a sensible choice for drivers looking for a budget-friendly alternative to gasoline. Prices have dipped in the past year, going from $29,255 to $17,488, and they’re expected to get even lower following the refreshed Leaf for 2025.

Performance Specifications

Keeping things simple, the Leaf is only offered in two trims. The base model uses an 8-inch touchscreen and a plethora of safety systems, while the SV Plus trim gains a leather interior and LED lights. We hope the fact that the

Nissan and Honda merger fell through
doesn’t signal the end for this Japanese automaker.

Nissan Leaf Key Features

• Sirius XM
• Push-button start
• Apple CarPlay and Android Auto
• HVAC timer
• One-pedal driving

3

Kia Niro EV

1-Year Depreciation: 41.2%

Kia is committed to sustainability. The Niro electric is kitted out with recycled materials and synthetic leather, which still looks premium. There are two grades available, with the higher trim received perforated seats for ventilation along with a Harman Kardon sound system.

Performance Specifications

Even in its basic form, the Niro boasts dual-zone climate control, heated front seats, keyless entry and go, and smartphone connectivity. Performance is exactly the same between the two trims. This subcompact electric vehicle had a sensible starting price of $40,975 last year. It’s even more affordable at $24,110.

Kia Niro EV Key Features

• Roof rails
• Wireless phone charger
• Projector beam headlights
• Heated seats
• Dual-level cargo floor

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2

Kia EV6

1-Year Depreciation: 45.2%

Another environmentally friendly vehicle from Korea is the Kia EV6. Labeled as a compact SUV, the spacious EV6 is an electric alternative to the popular Kia Sportage. It looks mean with its sharp double spoiler and 19-inch alloy wheels as standard, while an ultra-modern interior with floating center console delivers a visually appealing experience and more storage space than anyone needs in a car.

Performance Specifications

It’s a shame the EV6 is depreciating so much, it’s a great car. However, its quirky styling suits a niche market, and a redesigned model is due imminently. The average purchase price for a used model after one year is $24,088, down from $43,995 new.

Kia EV6 Key Features

• Flush door handles
• Two spoilers
• Smart cruise control
• Augmented reality Head-up display
• Floating center console

1

Lucid Air

1-Year Depreciation: 46.8%

The electric vehicle with the worst depreciation after one year is the Lucid Air. It takes on rivals like the Mercedes-EQ EQS sedan, flaunting better aerodynamics without taking the EQS’ egg-shaped body. The exterior looks like a car from a sci-fi movie, but inside is classy. There are four digital displays cocooning the driver while an optional full-length glass roof floods the cabin with light.

Performance Specifications

A base model Lucid Air cost $71,400, new, but after losing almost half its value in just one year, used examples can be found at £37,971.

Lucid Air Key Features

• Massage seats
• Four digital screens
• Glass canopy
• DreamDrive driver assistance features
• Best-in-class range