Electric vehicles (EVs) aren’t just sold in America; the European market is awash with EVs. Carwow covered the 5 EVs that hold the most value in the British market, which is not too different from the American market. Here are some of the EVs that hold their value best across the pond and how it’s similar to our EV depreciation experiences.
- Porsche Taycan
- Tesla Model 3
- Tesla Model X
- Polestar 2
- Tesla Model S
The Porsche Taycan is the EV that holds the most value in the UK
The Porsche Taycan is a slick-styled Porsche four-door EV with the Tesla Model S in its sights. In addition to the Porsche badge and styling, the Taycan is at the top of carwow’s list of EVs that hold their value. Specifically, Porsche Taycan owners can expect their EV to retain 62.9% of its original value.
Like the United States, the Tesla Model 3 holds value in Great Britain
The Tesla Model 3 is number two on the list of EVs that hold the most value in the British market. However, unlike the nearly 90% of the original value that Model 3s retain in the American market, the British equivalents lose quite a bit more. Tesla Model 3 owners can expect their EVs to depreciate by about 40.4%.
Does the Tesla Model X depreciate a lot?
Tesla’s most expensive model, the Model X, depreciates by about 41.3% of its initial value. That’s the UK value, but it is not far off from the American average. The Tesla Model X loses about 33.9% of its initial value after 36 months in the American market. For used car shoppers in the United States, that means a potential savings of around $36,000 over a new car.
How much does a used Polestar 2 cost?
The Polestar 2 has a starting price of about $47,200, considerably cheaper than its out-of-production sibling, the Polestar 1. In addition to cutting costs, the Polestar secured a spot on carwow’s list of the five EVs that hold the most value. Specifically, the Polestar 2 depreciates by about 41.80%, putting it within half of a percent of the Tesla Model X.
How much does a Tesla Model S depreciate in the UK?
The Tesla Model S depreciates by 43.0% in the British market, which is more than it does in the American market. Tesla Model S owners in the United States can expect their EVs to lose 36.3% of the initial value. According to a study by iSeeCars, used Model S shoppers could save around $33,000 by purchasing used rather than new.
What’s similar between the British and American used EV markets?
The lists of EVs that hold the most value are similar between the American and British markets. First, Tesla Model 3 holds an impressive amount of value compared to the EV depreciation average (52.0% in the United States). Next, the Model S and Model X made both lists for some of the highest value retentions after 36 months.
Additionally, carwow reports that the British EV industry standard is 48.9% of the original value retained. In comparison, the American average is 48%, meaning the standards are incredibly similar. Scroll down to the following article to read more about EV depreciation!