A five-year depreciation study of cars in the US by iSeeCars could discourage more consumers from making the switch to electric mobility. The study shows that electric vehicles (EVs) depreciate more than internal combustion engine (ICE) cars and hybrids after five years of ownership.
According to the study, factors such as heavy incentives and battery replacement costs result in higher depreciation compared to equivalent gasoline cars. EVs depreciate the most by an average of 49.1% in five years, followed by SUVs and hybrids at 41.2% and 37.4%, respectively. This only adds to the long list of downsides of owning EV in today's time.
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