The price of a five-year-old car with an internal combustion engine is 10% more than a five-year-old electric car
A recent study by the analytical agency iSeeCars in the USA showed an interesting pattern: electric cars lose value much faster than conventional cars with internal combustion engines and hybrids. Experts attribute this to higher maintenance costs for the electric drive.
According to the agency, over 5 years of operation, the cost of an electric vehicle in the secondary market decreases by an average of 49.1%. For comparison, cars with an internal combustion engine have a figure of about 38%. Thus, the difference is more than 10 percentage points. The main reason is the need for expensive battery replacement. For example, a new battery for a Tesla Model S will cost approximately $20-22 thousand, depending on the capacity and manufacturer. This critically affects the residual value of the electric car after 5 years of operation.
At the same time, as technology improves, the situation may even out. For example, Toyota is actively introducing advanced solid-state batteries into its electric vehicles, which have a longer service life and lower cost. Their use will reduce the rate of depreciation of electric cars in the secondary market.
