Very Vague Vlog CXXXIV (134): EV/Electric Car Depreciation Is Much Worse Than You Think!
Good afternoon today is the 13th of February and um we’re going to have to talk about a subject that um I didn’t particularly want to make a video about it but I saw something about this the other day and I realized that I absolutely had to because electric card appreciation is
Far far worse than you’d think I do uplo those viewers I forgot my actual notes um that I supposed to be using for making this video so I’ve had to go and get them and we’re at a slight different location now so I’ve got two
Different lists here one is is for um am online which is Automotive management online the other one is um from the electrifying YouTube channel channel dedicated to electric car so if any bias is there in terms of these electric cars um they’re going to be more biased
Towards them so I’m surprised to see that I’ve done a video about um you know the the top 10 most depreciated electric cars compared the year ago um the am online page uh is just all used cars here um but it’s interesting anyway we’ll maybe look at the um cars actually
Um maybe kind of risen in terms of their uh um average asking price this list is is average asking price actually over all ages of used car it’s not just a one-year-old used car like it will be on electrifying less when we get to it um which is interesting so in 10th um
Biggest negative change has been behind Icona um the average asking price of one of those last month uh was £1 18,38 and the average asking price um a year ago was 19% higher so it’s 19% change I never really like theind cona any variant of it I just think it’s a
Really ugly car really ugly um particular the electric one the pat one’s not very nice either I also think the cars is not as spacious as it could be I I just was disappointed of one of those I just think you should buy an mg
Zsv or petrol Zs if you want one car like that they’re actually more spacious and they’re cheaper I don’t see why anybody really wants one of those but there we go uh the ninth worst offender here in terms of of the uh the change of price in a negative fashion is a
Volkswagen id4 again a car I’m not particularly fond of um the price changes be 19% down so the average asking price last month one of these uh secondhand was £ 13,110 I think for like a 60 Grand car new or something so interesting next one por should Tai canvas isn’t really a
Surprise uh 19.5% cheaper now than it was in January 2023 uh average used asking price 84,5 72 next to bwi4 I’d never been quite happy with the way this car looks and things like that um so yeah 20% um negative change compared with a year ago so last month the average one
Was on sale for 49,000 476 I think that’s like a what 70 80,000 car new much too expensive isn’t it really then the the de crossback is a car that we will see again in the other list uh number six they did they I’ve done various power source there’s a
Fully electric one there are petol one there ones we can’t talk about the average uh used price for one of these last month was um £1 15,29 that is a 21% decrease on what one of those was worth on average a year ago fifth position is the fat 500e again not
Really a surprise to me I think those cars were massively overpriced I’ve driven one of those actually driv one in 2021 it’s just far too expensive for what they are um so yeah average asking price when used one in January 2024 was 9,668 um which is get a um
22.6% decrease on what one of those is worth a year ago fourth um the Tesla Model S the average asking price used one of those was $3,613 23 99% decrease on January 2023 the next BWI 3 um which is a a car you can no longer buy new um average used asking price
6,283 which is 24.4% um less than what it would have been a year ago then the high ionic I don’t think you can buy like the standard ionic you came out in about 20 15 or 16 anymore um you can buy the ionic 5 and ionic 6 but this
Is all ionics I think including um the five and the six it could be just those I don’t know um so yeah probably M the older models in here price change is 24.5% down uh average used asking price 14,9 9 and then the one that’s changed the most probably due to massive over
Supply there were big waiting lists of these originally but there aren’t anymore the Volkswagen ID3 another car that I’ve tried on my channel we drove my true jacket reviews in um 2021 uh the parents of a friend of mine actually owned that car they still own
It now um I can’t say I’m a biggest fan of those they’re all right they’re okay to drive but the infotainment system is absolutely terrible it’s just just terrible it has improved a little bit but I’m not surprised that over the course of the last year the average used
Price for one of those has gone down by 24.7% let’s now switch gears and look at um a much uh more sort of precise list this is cars that are 1y old have done 10,000 M and we’re comparing the price from a year ago um to price uh I presume
Also gener 2024 so very specific a year old only electric carve because it’s electrifying a YouTube channel that this video has come from um and uh yeah the depreciation is far worse than you’d think that was just you know average of all models of those of all ages on the
Used Market this is just year old cars 10 position of worst appreciation is the jaguar ipace it’s now worth 8,220 less than it was for um a year on model in January 2023 the average cost of one of those now a year old car with 10,000 mil is
$3,240 that’s 37.6% down on this time last year I think those are 60,000 cars so yeah about worth about half so you lose half the value of the car in a year next one the Lexus ux 300E I’ve never heard of one of those actually for
A while I knew they existed but I never have heard spoken of one apparently they’ve not got very good range and things like that but it’s a bit of a bargain you know a year old one is now worth on average with 10,000 Mi on mclock
2,913 um this a 37.8% drop on this time last year and the car’s worth 12,687 less than a comparable Model A year ago a of Madness then Mercedes eqa a car that’s probably far too expensive new um again a 37.8% drop um it’s worth
6,625 less um than it was a year ago for a comparable car uh one year old 10,000 mil average price of one of those is now 27,37 which is probably quite expensive but um bit less expensive than buying one new and the cona which again we see
One of these on the list um not a surprise Rel s position on the top 10 um 37.9% down on a year ago uh 10,803 less um I think one of these is like probably just over £30,000 new uh the average price of one a year old is now £ 17,488
Uh yeah that’s not good but the biggest surprise for me is a voxel corser electric known as the voxal corser E until quite recently and which has undergone a facelift but we’re looking at a car that’s a year old so this is a pre-facelift one um
13,830 is the uh average price now with 10,000 miles on the clock and a year old £ 8,600 L less than a similar car a year ago and that is well under half price it’s actually closer to a third of the new price do you want to lose over 60%
Of your car’s value in the first year bu yourself a corer electric next mercedes-ben eqc again um an enormous uh drop on a comparable Model A year ago of course electric was 38.3% this is 38.5% 2,325 less and now an average eqc that’s a year old it’s done 30 sry 10,000 MI
32575 5 absolutely and utterly astonishing again I I think that’s yeah that’s I think a £70,000 car new so that’s less than half price you’d be so gutted you bought that on a PCP wouldn’t you absolutely gutted same kind of um uh drop in price of
38.5% on a comparable car a yearo was ma mx30 uh friend of the channel James Martin J mon car did a review of the Rend version of one of these recently and he wasn’t very impressed I must admit that it is hard to sell a car like this because the pure electric model
Will only do 124 mil on a full charge that’s terrible that’s pretty terrible it looks nice I think it’s interesting car it’s got these interesting doors a bit like the old RX8 but yeah I mean a year old car can be bought for 13, 738 it becomes a lot more enticing if
You can live with that really short range but that is an 8,600 drop um on a comparable car a year ago so yeah um your Finance deal that you would have got maybe when you got one of those if it was brand new in 2021 you might even land have been able
To give Equity or something that’s not so good next is a car that Tom wanted of presenters on electrifying he’d also forgotten existed I had to be DS3 crossback but in this instance it used to be called the DS3 crossb E10 I don’t know if it’s called that anymore it
Might just be called the um cross black electric I don’t know but um a year old one of those is now worth 14,995 it’s a 38.6% drop on a comparable car a year ago that’s 9,436 less it’s an interesting car it’s an interesting looking car interior is
Interesting um DS don’t really sell many cars over here at all um let me know comment section below is that a car of any variant cuz you can get a petrol one as well um that you’d be interested in having I don’t know if I would be but
There we go next is a car that’s no longer on sale it went on off sale in 2023 so obviously it’s already available used um so Volkswagen eup one of the cheapest Elric cars when it was on sale um the average price for a year old one
Of these for $10,000 miles a clock now is £1,300 which is £ 7,800 less than it would have been a year ago so 38.8% drop the thing is is that because everything’s deed so much in the Electric World although there are no no MGS on this L for some reason um
The uh the corser is only about £1,500 more and that’s arguably a more sort of complete car and it would have been a lot more expensive when it was new so it it’s kind of hard to make a case for the year up does you really want one um
Which you might do and the the worst Defender depreciation 42% down on a comparable car a year ago is a voxal mocker electric um I don’t know whether I’m surprised about this or not the presenters seem to be very surprised about this or not surprised I I don’t
Know but um I think somebody would probably normally just go and buy a normal petrol one of these which is value an awful lot better than this um ,110 is the is now the average use price for a EUR one of these with um say 10,000 miles on the clock well under
Half price again I think um and that’s a change of 10,930 over a comparable car last year we haven’t seen depreciation like this for a long time back in the day if you buy something weird like a know a de Leganza or or a hondai x G30 something like that you’d see colossal
Depreciation the moment you D to the for court and these the sort of cars but possibly you might get like a 40% discount when they were new um those were not unheard of until about 2020 but um I wasn’t expecting it to happen again so quickly but it has let’s
Um sort of return to the reality of what most of you inhabit now though and let’s have a look at the cars that have actually have the biggest price growth on the used market so the biggest price growth has been combustion cars and some
Of these are a real surprise to me um so in first position average price change increase in the average used price is a Volkswagen Beetle average uh asking price now is £ 7,849 Beatle’s been on sale for quite a long time I think the last one of those
Was sold in 2019 and we’re probably talking about the um you know the generations that ran from 98 to 2010 and then from I think it was 2012 or 13 to 19 um I can’t say they’re really my a te but some people really like them secondly for Suzuki Jimny average used
Price of one of these is uh uh now $1,268 an 8.2% increase on a comparable car a year ago uh yeah they just seem to be getting more and more expensive for whatever reason you can buy a commercial variant of one these now but the uh
Passenger car went off sale a while ago because the dealers couldn’t um sell them in terms of meeting missions targets every one of those so was sort of making their lives more difficult um yeah then the toal land Cruise average I price one of these £ 32849 6.4% increase over the same sort
Of car last year um yeah um I’m not sure if we make those anymore maybe that’s a reason the a Jeep Grand Cherokee which is a real surprise to me um I have no idea what this is but 6% increase of year on year for the average use price
Of one of these which now stands at um 16,17 to fifth is the mercedesbenz mclass again I’ve got no idea why this would be um the increase has been 4.6% um average use price of one of those is now 11,719 SE is V daa sandero this is
Probably not a surprise to any body um they’re still are new let alone new I don’t think to actually do any discounts at all for new buyers of these cars new car um so 40 sorry 4.4% increase average asking price for sandero is now 8,35 on
Each market bear in mind a few years ago you could buy one of these brand new for £ 5995 then stepway version is number seven um the average use price for one of these is 9,566 um it’s an increase of 4% over last year again much the same thing next
One the Ali RS4 rant very very um particular why this is the case I don’t know um average use price of one of these is now um 45,000 258 it’s an increase of 4 over last year uh ninth is a a car that’s very close to my heart the Volvo V70 three
Generations of these the P1 uh ran from 1997 to 2000 then the P2 2000 to 200 um 7 then the P3 uh that ran from um 2007 to 2016 so average price of one of these got by 3.9% um 7,461 uh so yeah obviously all sort of
Um all kind of um model much Spectrum about sort of 19-year production run of the V70 had of the V Generations I prefer the Petra ones myself nice 5 cylinder white block or maybe even the six-cylinder white block which is even more exciting 10th the pjo partner Tepe
For some reason it’s different from the Bingo multipass I have absolutely utterly no idea why there’s been a 3.8% increase year upon year of that car who knows maybe somebody can tell me about that in the comments section below so thank you so much once again for watching uh please don’t forget to
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“Depreciation shock! We reveal the electric cars that take the biggest hit | Electrifying.com” from Electrifying – https://www.youtube.com/watch?v=qZLmj2htnkM
