Electric cars may be the future of driving, but drivers are being warned that today's models can lose their value at an alarming rate.
The rapid development of plug-in vehicles means that electric cars that are for sale are quickly outdated and worth much less when it is time to sell, a new study shows.
The average electric model drops in value by 41 percent after three years – according to Irish online marketplace DoneDeal, that is comparable to 24 percent for petrol cars and 26 percent for hybrids.
The rapid depreciation rate almost corresponds to the loss of value of diesels under fire (43 percent), research shows.
Discover in the table below which plug-in models have been written off the fastest since 2016.
Rapid loss of value: new research claims that electric cars have been depreciated almost twice as fast as gasoline models in the last 3 years
On average, a new car purchased in Ireland three years ago has today lost a third (33 percent) of its value, the website claimed.
However, electric cars generally depreciate faster than this.
Despite being better for the environment, the study said the technology is progressing so fast that future plug-in models outperform those already on the market, making them much less attractive to used buyers.
As a result, electric models sold three years ago are falling in value almost as fast as diesels, which in recent years have been targeted by governments and cities with higher taxes and an introduction of subsidies to use them – and even to parking -.
Martin Clancy, of DoneDeal, said: “The biggest impact on the resale value of electric cars seems to be on technology, which is changing rapidly.
& # 39; Electric cars & # 39; s produced even in 2016 have a much shorter operating radius and fewer functions than the newer models. & # 39;
Clancy added that as the range of newer electric cars becomes longer – and the charging infrastructure also improves – the depreciation gap between electric and gasoline cars becomes smaller.
However, continuing concerns about the life of electric cars, especially those used on a daily basis and regularly charged, still have an impact on demand in the second-hand market.
The rapid development of electric vehicles, with newer models with longer rangers and shorter charging times, means that today's machines are pale compared to the latest cars & # 39; s
John Hayes, a senior lecturer in electric vehicles at University College Cork, told The times that the range of electric vehicles may fall by around 10 percent after three years of use.
A third of British motorists change their cars at least every four years – this means that the decline in batteries is likely to limit the attractiveness of electric models for used buyers, a recent study suggests.
& # 39; Electric cars & # 39; s from three years ago have smaller batteries & # 39; s compared to what's on the market today, & # 39; Hayes explained.
& # 39; They compete with cars with a longer range, so that could prevent people from buying second-hand cars. & # 39;
He added that electric car batteries should probably be replaced after eight years, since the battery range would have fallen by around 30 percent by that time.
Appraisal experts have indicated which of these plug-in models with very low emissions have been depreciated the fastest in the last 3 years …
Which electric cars depreciate the fastest?
DoneDeal says the Nissan Leaf is the best-selling electric car in Ireland.
It said that 933 were sold in the first half of this year compared to 566 for the whole of 2018.
So far, the second bestseller of 2019 – the Hyundai Kona (sold 897) – is much better in value. This is because it has a much wider range than its Nissan counterpart.
Based on official figures, the newest Leaf can cover up to 168 miles between loads, while the Kona has a range of 279 miles – more than 100 miles more.
The latest Nissan Leaf (photo) can cover up to 168 miles between charges
DoneDeal suggests that the Hyundai Kona (photo) is going much slower than the Nissan, because it has a range of 279 miles – more than 100 miles more than the Leaf
Figures released by Glass & # 39; s car valuation experts at gap insurance company InsuretheGap suggests that the Leaf is not currently the fastest depreciation plug-in model.
It discovered that the Renault Zoe loses a monumental 61 percent of its value in three years from its purchase price of £ 19,988 in 2016 to just £ 7,830 in 2019.
The Leaf was placed in second place as the fastest depreciation plug-in model, with both the BMW 330e and the BMW 330e having 53 percent of its value in the last three years.
Below is a list of the fastest depreciation electric and hybrid models.
You can also discover which electric vehicles are best retained by viewing exclusive figures earlier this month that are given to This is Money by car appraisals.
The Renault Zoe (photo) has been named by Glass & # 39; s as the fastest decreasing electric or hybrid model in the last 3 years
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