Used electric cars lose massive value in the first year

Fewer and fewer cars on European roads are bought. The more expensive the vehicle – the higher the leasing quota. Here and there is financed, but hardly bought a mobile pedestal. There are good reasons for this, because the loss of value of many electric models is gigantic. The problem with this: someone has to bear the loss of value and if it does not get stuck with the first buyer, then he becomes a problem for the car dealer and thus indirectly for the manufacturer at the latest.

In order to look for shock prices, nobody has to browse long in the large online exchanges such as mobile.de or Autoscout. The black Porsche Taycan as a basic version from July 2024 with just 12,000 kilometers and very attractive equipment is advertised with just under 86,000 euros, including VAT. It is already the revised version with 320 kW/435 hp and faster loading speed. When he was delivered, it costs more than 120,000 euros. This is a loss of value of a good 30 percent in the first year.

It looks even more violent with a Porsche Taycan 4S Cross Turismo, who is one year old, but has only run 25 kilometers – a disguised new vehicle. It stands at a dealer in northern Germany for 99,800 euros with equipment, which just as little wish leaves open as the drive with a 440 kW/598 hp all -wheel drive. As an official new registration, it cost around 160,000 euros – a loss of around 40 percent as a real new vehicle with 25 kilometers on the route counter – not an isolated case, because the customer can choose freely on the net. The more expensive and exclusive the model, the higher the loss of value. After a year and a half it can be 50 percent.

It hardly looks different with BMW and its top model i7. A BMW i7 XDrive M70 as an absolute top model with spectacular equipment, an impressive 485 kW/659 hp and just 9,000 kilometers driven costs 119,999 euros in Berlin. The new price: 203,000 euros. This is a loss of value of more than 40 percent in less than a year.

A Mercedes EQS 450+ can also keep up without any problems, because the electrical luxury sedan with admittedly quite thin 265 kW/360 hp is barely 15 months old and 10,000 kilometers. If the new price was 135,380 euros, the model at a renowned Mercedes dealer in the Munich area does not even cost 76,000 euros. The dealer confidently points out a loss of value of 44 percent – without having even acted a hint. If you ask the dealers about it, you will see narrow lips and the short info that the pressure to sell vehicles is currently greater than ever.

Admittedly, this is not a problem that alone has electric cars of the larger vehicle classes, because here too Porsche Panamera, BMW 7 Series, Audi A8 or Mercedes S-Class have to struggle with lush loss of value. However, the losses in most comparable combustion versions are between 10 and 12 percentage points lower. It looks a little different with smaller electric vehicles, but here, too, the vehicles with plugs currently lose significantly more than vehicles with diesel or petrol engine. A Mercedes EQA 300 4MATIC with solid equipment, 168 kW/228 hp and just 8,500 kilometers in one year costs around 33,000 euros. His former new price: 55,000 euros. Also makes around 40 percent loss of value.

Anyone who thinks that the minus in such dimensions can be found solely at the upper middle or luxury class. In the best case, a Fiat 500e currently costs 27,000 euros. Models without mileage with daily registration can be easily obtained for less than 19,000 euros. That is also 30 percent less or more with smaller models. The VW ID3 Pro S with just 900 kilometers and good equipment costs five months old just 24,000 euros – with a current new price of 44,000 euros – also around 40 percent loss in less than half a year.

The situation at Tesla and its volume models Model 3 and Model Y. presents a solidly equipped basic version of the Tesla Model Y in white with standard range and rear wheel drive costs 33,750 euros, for example, and with its 220 kW/229 hp electric motor, not even 17,000 kilometers. The current new price: 46,000 euros. The loss of value of just over 20 percent is therefore higher than a few months ago because the model Y was revised extensively.

Nevertheless, the loss of value is noticeably lower than with the competition. The main reason is not only with the significantly lower new car price when buying on the web, but because of Tesla’s price structure, as clear and transparent. In addition, Tesla is generally granted a greater electrocompetence by many customers than those manufacturers who unchanged models with an electric motor, diesel, petrol engine and hybrid drive.

This is good for the end customer, because he usually gets a powerful discount or even more money for the car when buying a new car when he buys a young used car who has mostly not even driven 20,000 kilometers. However, this is a huge problem for car manufacturers and their dealers, because they only get many models with huge discounts in the national markets. New car discounts of more than 30 percent are not uncommon, which ultimately has a negative effect on the stability of value. Commercial customers usually get a strong reference again to get the models away.

However, this is only postponed by the problem, because for the vehicles, huge provisions must be formed in the balance sheets, in which the electric cars are contained with often completely unreal book values. Most carmakers have already corrected the internal book values or they are about to do this. This reduces your own result and especially the manufacturers, who rely on electromobility a few years ago, are currently under pressure.

The situation could hardly be worse for the car industry. Low electrical sales figures, even lower contribution margins, high developmental expenses and significantly less money that dealers can earn with maintenance/service during customer use. In addition, electric used cars have long since gone the call not to be stable and be able to be sold alone over the price. For the premium and luxury manufacturers, this is a huge problem that quickly stuck in the head of the long-standing customers. Controlling here is anything but easy in the current market situation.