Motorists are being warned of new data which highlights how some of the most popular cars on the road lose their value in the space of just a few years.
Fresh research has found that GWM Ora 03 48kWh Pure+ electric car saw the fastest depreciation, based on the “On The Road” (OTR) price of the vehicle and how it fared after three years and 36,000 miles.
The electric vehicle only managed to retain a quarter of its £31,995 price tag after three years, falling almost 75 per cent to a value of just £8,250.
Another smaller electric vehicle, the Nissan Leaf 39kWh Acenta, also saw its value plummet, retaining just 26.54 per cent of its value, with an average part exchange value of £7,775.
Some of the more premium brands on the market, like Jaguar, Lexus and Audi, also appear on the list, losing around 70 per cent of their value after just 36 months.
While electric cars do feature on the list of depreciating models, experts are still predicting strong residual values for many of the most popular EVs on the market.
Steve Walker, head of digital content at Auto Express, said: “Depreciation doesn’t discriminate, even big names can take a pounding. Take the Jaguar I-Pace and Nissan Leaf. Both are electric cars at the end of their lifespans that have been left behind by the rapid development of EV technology.
“It’s nearly impossible to completely avoid depreciation, there are some things you can do which will minimise the hit you’re likely to receive, whether that’s avoiding the bright pink paint job, or just making sure it’s serviced on time.”
Drivers could save or lose thousands of pounds when buying particular vehicles
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PA
The top 10 fastest depreciating cars by average retained value (three years/36,000 miles)
- GWM Ora 03 48kWh Pure+ – 25.79 per cent
- Nissan Leaf 39kWh Acenta – 26.54 per cent
- Jaguar I-Pace 90kWh 400 R-Dynamic S – 27.97 per cent
- Lexus UX-e 300e 72.8kWh Takumi – 28.55 per cent
- DS Automobiles DS3 E-Tense 54kWh Pallas – 28.88 per cent
- DS Automobiles DS9 1.6 E-Tense Opera – 28.9 per cent
- Vauxhall Astra 1.6 Plug-in-Hybrid Ultimate – 29.24 per cent
- Mazda MX-30 Prime-Line – 30.44 per cent
- Fiat 500e 42kWh Giorgio Armani – 30.68 per cent
- Audi A8 60 TFSIe – 30.74 per cent
The GWM Ora 03
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GWM
Mercedes-Benz has been crowned with the strongest value retention after three years with its G-Class Electric maintaining more than 70 per cent of its value.
While the electric G-Class costs £154,870 when new, drivers who opt for the luxury SUV will be relieved to see that the car will still be worth more than £108,000 three years later.
Mr Walker continued, saying that cars with impressive in-car features will hold their value, especially if there is a level of exclusivity to the vehicle.
He said: “A huge amount has been said about electric car depreciation in recent times, but while some EVs have proven to be money-pits, there are plenty of others with very strong residuals that match their low fuel and maintenance costs.”
The Mercedes-Benz G-Class Electric
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MERCEDES-BENZ
The top 10 slowest depreciating cars by average retained value (three years/36,000 miles)
- Mercedes-Benz G-Class Electric – 70.09 per cent
- Land Rover Defender 90 – 69.37 per cent
- Porsche 911 Coupe GT3 manual – 69.17 per cent
- Dacia Bigster 1.8 Hybrid 155 Extreme – 66.19 per cent
- Dacia Jogger 1.6 Hybrid Expression – 65.59 per cent
- Porsche 718 Cayman GT4 RS – 65.22 per cent
- Volkswagen Multivan 1.5 TSI eHybrid – 63.64 per cent
- Toyota Land Cruiser 2.8D Invincible – 62.85 per cent
- Kia Sorento 2.2 CRDi ‘2’ – 61.79 per cent
- MINI Countryman 1.5 Cooper C – 61.43 per cent