Warning to EV owners over used electric cars which have lost the most value – will you miss out on £1,000s?
EV drivers have been warned over which electric cars have lost the most value in the past year.
Resale prices have been bottoming out as tech evolves and prices of new models are slashed to attract new customers, leaving second-hand examples in the dust.
Indeed, it emerged this week that EVs were losing up to half of their original value within a year.
Below are the top 10 cars that have seen the largest depreciation, with all prices based on a one-year-old model with 10,000 miles on the clock in October 2022 compared to this month.
10. Peugeot e-208
First released in 2019, the e-208 won acclaim for its economical use of space and 224-mile range.
However, it has seen second-hand prices dip 37.1% this year, amounting to an average loss of over £9,000.
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Last October, one of these would have fetched you £25,580 but average prices now sit at £16,095.
9. Hyundai Kona Electric
Cars often see a spike in price when they are replaced by a newer model as buyers rush to snap up the remaining examples, but that's not the case for this Hyundai SUV.
The final first-generation Kona rolled off the production line last year yet that hasn't saved it from a hefty 37.6% decline.
Worth around £30,300 last year, they now clock in at just £18,913 on average.
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Considering that the second-generation model is currently on sale from £32,450, it's certainly a bargain.
8. Vauxhall Corsa E
Almost identical to the Peugeot in the number 10 slot, this Vauxhall has seen an even greater drop-off in value.
A 37.7% loss means that what could once be picked up for £23,138 will now only set you back £14,406.
Even though the Corsa line as a whole is on the up, claiming second spot in new car registrations for this year, this particular model is not in high demand.
7. Mazda MX-30
The Mazda is another SUV that has seen prices hit the floor in the last few months, especially in a market dominated by luxury options in its class.
A stinging 39% dip has seen prices tumble from £23,375 to £14,256 on average.
While more spacious and powerful than the Vauxhall, its relatively low 124-mile range sees it putting out similar numbers from a cost perspective.
6. BMW i3
The reasons behind the i3's decline are more easily worked out than some of the other entries in the top 10.
Being the German industry giant's first ever mass-production electric car, it has simply been overtaken by the market it helped to spark into life.
The price drop sits at 39.9%, making it worth just about £19,322 today, despite selling for over £30,000 just a year ago.
Better tech, more space and greater range have seen drivers flock to newer models than this 2013 example for a similar price.
5. Hyundai Ioniq Electric
A second appearance in the top 10 could spell trouble for the Korean manufacturer as their EVs seem to struggle holding their value.
The Ioniq is the first to crack the 40% barrier, falling in value by 40.8% this year.
This has knocked over £10,000 off the average price, leaving it at just £15,625.
It still offers much of what you might want from a second-hand family car, though the 194-mile range is a little limited for some.
4. VW e-Up
Despite the success of its petrol equivalent in the small city car niche, the e-Up holds no such crown.
A drop of 42.5% has seen prices fall to just £13,100.
And even then you don't get much for your money, with the e-Up coming in as one of the smallest five-seaters on the EV market.
However, if you want a motor to dart around town with plenty of charging points nearby, it may just be for you.
3. Nissan Leaf
Only just dropping lower than the e-Up, the Nissan has seen a decline of 42,7%, leaving average models selling for £14,836.
The Leaf was previously a popular choice as a reasonably-priced EV that gave drivers an alternative to luxury brands like Tesla and Polestar.
It seems, though, that such success is in the past, as motorists flock to newer models or cheaper second-hand offerings.
2. Renault Zoe
The Zoe was bought by the thousands when it launched in 2019 as a compact city car ideal for short trips about town.
But, as we've seen with similar models on the list, the direction of travel seems to be for the increasingly affordable luxury models that offer a little more performance on the open road.
This trend has seen the Renault drop 44.2% of its value, with average prices now sitting around £12,000.
1. Seat Mii Electric
The only Spanish car on the list, the Seat claims the dubious honour of top spot.
Adding to the undesirable records, it is also the only car to see its average price more than half since October.
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A 50.3% decline has seen the value crumble to below £10,000, when it was fetching almost twice that last year.
If you have one of these, now if certainly not the time to sell as you could lose out on over £9,000.
Top 30 EVs with the largest price fall since October 2022
=29. Tesla Model Y - 30%
=29. Audi e-Tron - 30%
28. Mercedes EQA - 31.5%
27. Audi e-Tron S'back - 31.9%
26. Audi Q4 e-Tron - 32.4%
25. Smart ForFour - 33.1%
=23. Tesla Model 3 - 33.3%
=23. Mercedes EQC - 33.3%
22. Honda e - 33.6%
21. DS3 E-Tense - 33.7%
20. Mini Electric - 33.9%
19. Polestar 2 - 34.3%
18. Jaguar I-Pace - 34.3 %
=16. Kia E-Niro - 35%
=16. Vauxhall Mokka-e - 35%
15. Fiat 500 Electric - 35.5%
14. Mg5 EV - 35.7%
=12. Citroen e-C4 - 35.9%
=12. Peugeot e-2008 - 35.9%
11. VW ID.3 - 36.3%
10. Peugeot e-208 - 37.1%
9. Hyundai Kona Electric - 37.6%
8. Vauxhall Corsa-E - 37.7%
7. Mazda MX-30 - 39%
6. BMW i3 - 39.9%
5. Hyundai Ioniq Electric - 40.8%
4. VW e-UP - 42.5%
3. Nissan Leaf - 42.7%
2. Renault Zoe - 44.2%
1. Seat Mii Electric - 50.3%