Electric cars are losing value. That's how it is. But especially for the really expensive ones like the BMW iX, the first two years really hurt. A new report shows that the cars are plummeting.
Over a period of just two years, the price of many new electric cars drops dramatically. In some cases, the loss is more than 25 percent. Others plummet by 30 percent.
A calculation from Finn.no, published by the newspaper VG , shows that several electric cars from the 2022 model year have already lost up to a third of their original value.
The Hongqi E-HS9, which is also in Denmark, registered the largest relative price drop. However, this may be due to a relatively small market and very expensive spare parts. Read more about it here.
The statistics show that the most expensive electric cars experience the greatest monetary losses, whereas most expensive cars with combustion engines have experienced a lower depreciation.
Cars worth millions dominate the list of cars that have lost the most value. And it's perhaps not surprising that the really expensive cars are taking the biggest hit.
Here are the electric cars that have crashed the most in just 2 years
An example is the Porsche Taycan Cross Turismo from 2022. If owners sell the cars in 2024 or early 2025, they must be prepared for a significant loss in value. In fact, several hundred thousand kroner.
According to Finn.no, the average price for the Taycan Cross Turismo model was 1,216,433 Norwegian kroner in 2022. In 2024, you could get an average of 875,184 kroner for the same car used.
That is a loss of 341,249 kroner.
The BMW iX xDrive 50 is approaching the Porsche Taycan Cross Turismo with an average loss of 341,166 kroner.
In 2022, the average price was 1,157,376 kroner. Towards the end of 2024, iX owners should not expect to get 816,210 kroner for the same car.
The Audi e-tron GT, based on the same platform as the Porsche Taycan, is another car that is plummeting in value. The car has lost more than 300,000 kroner in two years.
The average price in 2022 was 1,007,798 kroner. In 2024, the price was 701,335 kroner on the used market.
Among the cars in the million-dollar range that hold their price best is the Volvo XC90. Admittedly, it's not a full-fledged electric car but a plug-in hybrid.
The average price for the Volvo XC90 was 994,329 kroner. In 2024, the average selling price is 812,523 kroner. This results in a loss of 181,806 kroner.
Granted, that's a lot of money. But compared to both the BMW and the Porsche, which are fully electric, it's a bargain.
The Nissan Leaf, which is admittedly a more budget-friendly electric car, and something that most drivers can afford, is losing the least in value according to the Norwegian figures.
On average, 75,000 Norwegian kroner, equivalent to 47,000 Danish kroner, disappears after two years in a Nissan Leaf. The question is, what would you as a driver prefer to drive?
