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Electric cars 'drop in value by 41% after three years'

Patrice Kelly
Aug 28, 2019

Do you know the relatively snooty look electric car drivers give you? Well, just show them this article.

It turns out that while electric cars are clearly the future of motoring and significantly better for the environment than their diesel-guzzling counterparts, it turns out they depreciate in value very quickly.

The rapid development of plug-in vehicles means electric cars on sale today are quickly outdated and become worth much less when it comes time to sell, a new study shows.

The average electric model drops in value by 41 per cent after three years - that compares to 24 per cent for petrol cars and 26 per cent for hybrids, according to Irish online marketplace DoneDeal.


The rapid rate of depreciation is almost a match for the value loss of under-fire diesels (43 per cent), the research shows.

On average, a new car purchased three years ago in Ireland have lost a third (33 per cent) of their value today, the website claimed.

However, electric cars are generally depreciating at a more rapid rate than this.

Despite being better for the environment, the study said the technology is advancing so quickly that future plug-in models are dwarfing the performance of those already on the market, making them much less appealing to used buyers.

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