Glass: Electric Cars Among Worst First Year Depreciators
Glass, a vehicle data provider, released a list of the worst first year depreciators in the UK.
The title shouts that Renault Fluence ZE, Citroen C-Zero and Nissan LEAF lose more than three-quarters of their value!
“Three electric cars are among the worst first year depreciators in a “Bottom 10” released by motor trade valuation market leaders Glass’s.
The Renault Fluence, Citroen C-Zero and Nissan LEAF E have all lost more than three-quarters of their value after covering 12,000 miles during the last 12 months.”
Well, we strongly believe that there would be different results without the Plug-In Car Grant, which affect depreciation math off the MSRP (which is rarely, if ever, actually paid by an individual).
Rupert Pontin, head of valuations at Glass, said:
“The motor trade and the used car buying public remain interested in electric cars but are still reticent to actually buy them in numbers – and these depreciation figures reflect that fact.
“To be fair, these three EVs are among some of the least attractive on the market – the Fluence and C-Zero both have a ‘last generation’ feel while the LEAF E is on the bottom rung of the LEAF range – but their presence does reflect the fact that the EV sector remains sluggish.”
Pontin notes also that other models (ICE) include lowest-powered, entry level versions, which is the main reason for their high depreciation.
“There is very little enthusiasm in the market generally for poorly-equipped cars and if those cars are also becoming dated and have an older power unit, it really hits their prospects in the used market.”
Well, maybe it’s then a good opportunity to seek used EVs:
“It would be difficult to recommend a new Renault Fluence costing more than £22,000 but one that is around £5,000-£6,000 at 12 months old is arguably a good buy for someone looking to try EV motoring.”
1. Renault FLUENCE E Z.E. (95bhp) Expression+ saloon four door auto
2. Vauxhall MERIVA 1.4 16v (99bhp) Expression MPV five door (2010 MY)
3. Chevrolet CRUZE 1.4 (100ps) 4X4 LS station wagon five door 1398cc (2014 MY)
4. Citroen C-ZERO E hatchback five door auto
5. Nissan LEAF E hatchback five door auto
6. Renault MEGANE 1.6 (100bhp) Extreme estate five door
7. Vauxhall INSIGNIA 1.4i 16v Turbo (140ps) SRi saloon 4d 1364cc (2012.5 MY)
8. Peugeot 207 SW 1.4 8v (75bhp) Access estate five door
9. Chevrolet ORLANDO 1.4 Turbo (140ps) LS five door 1364cc (2014 MY)
10. Peugeot 308 1.6VTi (120bhp) Access hatchback five door 1598cc (2013.5 MY)
Percentage retained value after 12 months/12,000 miles.