Electric Vehicle Depreciation

Hey everyone! I’m looking to buy an EV6 this week and wanted to hear your thoughts on how EVs, especially the EV6, might depreciate over the next 5 years?

No one can predict the future, but as an owner, I bought my EV6 to future-proof as much as possible. I’m really happy with Kia’s 400/800V system—it feels like the new standard. It should hold up well, but only time will tell.

800V systems are definitely becoming the standard. Chevy’s Ultium platform uses it, and other brands are following. I think EVs will depreciate like regular cars, though. As more EVs become available, their value might go down. Unless we find out the batteries last 100k miles with zero degradation, I don’t see values going up. Tesla has held its value well, but that’s probably due to availability issues.

Bottom line: assume EVs will depreciate like any other car, and if it holds its value better, that’s a bonus.

Connie said:
800V systems are definitely becoming the standard. Chevy’s Ultium platform uses it, and other brands are following. I think EVs will depreciate like regular cars, though. As more EVs become available, their value might go down. Unless we find out the batteries last 100k miles with zero degradation, I don’t see values going up. Tesla has held its value well, but that’s probably due to availability issues.

Bottom line: assume EVs will depreciate like any other car, and if it holds its value better, that’s a bonus.

Right now, EVs depreciate faster than gas cars because of battery concerns, but as battery recycling and longevity improve, that could change.

Nathan said:

Connie said:
800V systems are definitely becoming the standard. Chevy’s Ultium platform uses it, and other brands are following. I think EVs will depreciate like regular cars, though. As more EVs become available, their value might go down. Unless we find out the batteries last 100k miles with zero degradation, I don’t see values going up. Tesla has held its value well, but that’s probably due to availability issues.

Bottom line: assume EVs will depreciate like any other car, and if it holds its value better, that’s a bonus.

Right now, EVs depreciate faster than gas cars because of battery concerns, but as battery recycling and longevity improve, that could change.

Have you seen used Tesla prices lately? They’re more expensive than new ones because people want them right away and don’t want to wait. It’s a weird time for the car market, but it won’t stay this way forever.

Michael said:

Nathan said:
Connie said:
800V systems are definitely becoming the standard. Chevy’s Ultium platform uses it, and other brands are following. I think EVs will depreciate like regular cars, though. As more EVs become available, their value might go down. Unless we find out the batteries last 100k miles with zero degradation, I don’t see values going up. Tesla has held its value well, but that’s probably due to availability issues.

Bottom line: assume EVs will depreciate like any other car, and if it holds its value better, that’s a bonus.

Right now, EVs depreciate faster than gas cars because of battery concerns, but as battery recycling and longevity improve, that could change.

Have you seen used Tesla prices lately? They’re more expensive than new ones because people want them right away and don’t want to wait. It’s a weird time for the car market, but it won’t stay this way forever.

Yeah, that’s the short term. I was thinking more about long-term depreciation.

It’s going to hold its value well. With the chip shortage, EV demand will stay high. And with some brands releasing EVs with slow charging speeds (like Subaru and Mazda), the EV6 stands out as a much better option.

Battery production is struggling to keep up with demand, and I think that’ll keep EV prices high for the next 5-10 years. After that, once supply catches up, prices might level out. But for now, EVs should hold their value pretty well.

With lithium prices staying high and supply not keeping up with demand, new EVs will stay expensive, which should help used EVs hold their value better than we might expect.

diallo said:
Hey everyone! I’m looking to buy an EV6 this week and wanted to hear your thoughts on how EVs, especially the EV6, might depreciate over the next 5 years?

It’s hard to say. Chip shortages could push the value up, or they could drop as supply improves. The magic 8 ball says… ask again later.