Kelly Blue Book has listed the ten vehicles that deprecate at alarming rate and top three happen to be electric vehicles. The Nissan Leaf according to KBB is projected to only retain 18 percent of its new-car price after five years. Behind the Leaf is the Fiat 500e which is expected to retain 21 percent and the Smart ForTwo EV which is expected to retain 21.5 percent.
Few key items to keep in mind:
- Fiat 500e is only available to lease in California
- A number of automakers, like Nissan have been dropping the price of the EVs
- Electric vehicles come with a number of incentives from the U.S. and state governments, which in turn hurt the resale value
Eric Ibara, director of residual consulting for Kelley Blue Book tells USA Today EVs have a problem of finding someone to buy a used one.
"Pure electrics have been slow to catch on in the resale market." Customers "have been willing to buy a new one, not a used electric vehicle."
As to why, Ibara doesn't have a good answer to this.
The remaining seven vehicles on KBB's list are all luxury vehicles such as the BMW 7-Series, Lincoln MKS, and Jaguar XK.
- Nissan Leaf - 18%
- Fiat 500e - 21%
- Smart fortwo electric - 21.5%
- Jaguar XJ - 22.2%
- Volkswagen CC - 25%
- Mercedes-Benz CL-Class - 25.8%
- BMW 7 Series - 26%
- Volvo S80 - 27.3%
- Lincoln MKS - 27.5%
- Jaguar XK Series - 27.6%
Source: USA Today