- Every time I see a Tesla on the road, I point at it and say "there's a man driving there who has spent NOK 600.000 on a car that won't be worth NOK 30.000 even in 5 years" (ElBilTøys).
Do electric cars fall more in price than other cars?
I have looked at 2015 models and compared the loss in value of electric cars against similarly equipped petrol and diesel cars. I can reveal that our reader was wrong. Five-year-old Teslas actually hold up very well in price. Even smaller electric cars hold their value well. Astonishing - almost bordering on incomprehensible - considering that some of them belong to the "stone age of electric cars". Electric cars with a short range - without fast charging - would be unsellable as new cars today.
2015 Tesla Model S
I the calendar year In 2015, Tesla sold 4039 cars – of which 3712 were equipped with four-wheel drive. I have selected the Model S 85D with two engines and four-wheel drive (though not Performance and not 7-seater). Range and performance are still top class. Continuous upgrades of software and technology ensure that the cars on sale today have kept pace with developments. The only thing that reveals the car's age is the front, which carries the contours of the grill the model had before the facelift the following year.
In retrospect, you can probably say that it was one of the smartest car purchases. But before we draw any conclusions, we need to have something to compare it with - something that runs on petrol or diesel and costs about the same. As you know, Tesla has never made gasoline-powered cars.
What would Tesla customers have bought if they couldn't buy an electric car?
Probably something far cheaper. Omission of one-off tax and VAT meant that the beautiful Teslas cost about half of similarly equipped petrol and diesel cars. It made many people stretch their budgets. I choose to point out the Lexus 300 NX Luxury (non-chargeable hybrid) and the BMW 520d xDrive Touring (diesel) as alternative cars. Both are typical family cars with four-wheel drive, and which cost the same as the Tesla Model S in 2015.
| Model | Km | Sale price new | Sale price now | Loss of value - per year | - % per year | Number of cars |
| Tesla S 85D 4WD | 0-49 ′ 50′-99 ′ 0-99 ′ |
670 000 670 000 670 000 |
490 000 439 000 447 000 |
40 000 51 300 49 600 |
6,0 % 7,7 % 7,4 % |
4 25 29 |
| Lexus 300 NX Luxury | 0-49 ′ 50′-99 ′ 0-99 ′ |
679 000 679 000 679 000 |
436 000 375 000 412 000 |
54 000 67 500 59 300> |
8,0 % 10,0 % 8,7 % |
3 2 5 |
| Lexus 300 NX Business | 0-49 ′ 50′-99 ′ 0-99 ′ |
560 000 560 000 560 000 |
355 000 316 000 334 000 |
45 500 54 200 50 200 |
8,1 % 9,7 % 9,0 % |
2 2 5 |
| BMW 520 xDrive 190HK Touring | 50′-99 ′ | 596 000 | 363 000 | 51 700 | 8,7 % | 9 |
The loss in value on the Tesla is less than for the models we use as a reference. But remember that even if the percentage loss in value is low, it is about a respectable NOK 50 per year - or perhaps NOK 000 per month.
2015 Volkswagen Polo
In 2015, it was the first version of the e-Golf that applied. It has a battery pack of 21,5 KWH and a practical range of 10-12 miles. If you drive economically under favorable conditions, the range can be increased to a maximum of 16 miles. Compared to today's electric cars, the e-Golf number 1 is best suited as car number 2. With quick charging (CCS) it is a no-brainer to charge during a long drive.
No price drop yet – but it's coming.
Volkswagen is currently selling off its remaining stock of e-Golf. The 2019 models received a sharp price reduction overnight. Prices on the second-hand market have not yet adjusted to the new price level. Today, used e-Golfs are for sale in car dealerships at prices far above what new, well-equipped cars cost. Several will probably have to be sold at a loss. Of all Golf's 2015 models, the e-Golf appears to be the most favorable choice in terms of depreciation – closely followed by the plug-in hybrid Golf GTE.
| Model | Km | Sale price new | Sale price now | Loss of value - per year | - % per year | Number of cars |
| Volkswagen e-Golf | 0-49 ′ 50′-99 ′ 0-99 ′ |
254 000 254 000 254 000 |
154 000 149 000 150 000 |
22 200 23 300 22 900 |
8,7 % 9,2 % 9,0 % |
17 45 62 |
| Volkswagen Golf GTE | 0-49 ′ 50′-99 ′ 0-99 ′ |
332 000 332 000 332 000 |
193 000 176 000 181 000 |
28 600 32 600 31 300 |
8,6 % 9,8 % 9,4 % |
11 22 33 |
| Volkswagen Golf 1,2 TSI 85HK Trend | 50′-99 ′ | 250 000 | 131 000 | 26 400 | 10,6 % | 3 |
| Volkswagen Golf 1,2 TSI 110HP Highline | 0-49 ′ 50′-99 ′ 0-99 ′ |
290 000 290 000 290 000 |
165 000 148 000 154 000 |
27 700 31 500 30 200 |
9,5 % 10,9 % 10,4 % |
3 6 9 |
| Volkswagen Golf 1,6 TDI 110HK Highline | 0-49 ′ 50′-99 ′ 0-99 ′ |
300 000 300 000 300 000 |
154 000 152 000 153 000 |
32 400 32 900 32 700 |
10,8 % 11,0 % 10,9 % |
3 2 5 |
So you have to put NOK 150 on the table for a 000 model with yesterday's range. If you add another 2015, you can get it upgraded The e-Golf with a longer range. Remember, the time has come to haggle.
2015 KIA Soul Electric
The KIA Soul costs the same as the e-Golf. The KIA's advantage is that it has a longer range than the e-Golf. For the 2015 models, the difference is approximately 4-5 mil. This means a lot in daily use, especially if you depend on external charging. The KIA can also be fast-charged (CHAdeMO).
It is difficult to find any KIA Soul that runs on petrol or diesel. I only found one petrol car and one diesel car for sale with the same level of equipment. It seems that the sellers of the mentioned cars have chosen the same prices as the Soul Electric. Thus, we cannot draw any conclusion. But the KIA Soul Electric undoubtedly has a very low loss in value regardless of which brand we compare it to.
| Model | Km | Sale price new | Sale price now | Loss of value - per year | - % per year | Number of cars |
| Kia Soul EV Exclusive | 50′-99 ′ | 236 000 | 145 000 | 20 200 | 8,6 % | 20 |
| Kia Soul 1,6 GDI Comfort | 50′-99 ′ | 300 000 | 158 000 | 23 700 | 8,9 % | 1 |
| Kia Soul 1,6 CRDI Comfort | 50′-99 ′ | 300 000 | 158 000 | 23 700 | 8,9 % | 1 |
2015 Mercedes-Benz B-Class Electric
The battery-powered B-Class model was supplied with a 28 KWH battery pack as standard, but could also be supplied with the Range Plus – an extended 32 KWH battery pack. The latter increased the range by approximately 3 miles. In the price comparison, 15 out of 24 cars were equipped with the extended battery pack, without this having any noticeable effect on used car prices. I have therefore assessed both battery packs together. The standard range is like the KIA Soul, - i.e. 4-5 miles more than the e-Golf. The biggest objection to Mercedes-Benz's electric car is that it cannot be fast-charged.
| Model | Km | Sale price new | Sale price now | Loss of value - per year | - % per year | Number of cars |
| Mercedes-Benz B Electric | 0-49 ′ 50′-99 ′ 0-99 ′ |
300 000 300 000 300 000 |
168 000 149 000 159 000 |
29 300 33 500 31 300 |
9,4 % 11,2 % 10,4 % |
12 12 24 |
| Mercedes Benz B180 | 0-49 ′ 50′-99 ′ 0-99 ′ |
323 000 323 000 323 000 |
227 000 186 000 202 000 |
21 300 30 400 26 900 |
6,6 % 9,4 % 8,3 % |
2 3 5 |
| Mercedes-Benz B180 CDI | 50′-99 ′ | 321 000 | 239 000 | 20 800 | 6,5 % | 2 |
The B-class Electric is the only example in our comparison where the electric cars fall more than petrol and diesel-powered cars. That the percentage loss in value is greater than other electric cars may be due to the fact that the price of the B-class Electric fell from 323 to 000 the following year.
Mercedes-Benz's electric car accounted for 4 percent of electric car sales in 2015. The model offers good performance and range for its time, - and more interior space and luggage compartment than its competitors e-Golf, KIA Soul and Nissan Leaf. Nevertheless, the 2015 model does not appear to be as successful as the aforementioned competitors. One of the reasons is that Daimler AG chose to drop fast charging. Another reason could be that many owners had operational problems with their cars. A third reason could also be that importers/dealers were poorly prepared for the technology.
2015 Ford Focus Electric
I am not sure if a sample of only two electric cars can be called representative. In that case, the loss in value on the Focus Electric is surprisingly low. The American-built electric car was not a great success and appears to be the most outdated of all the models in this overview. Real range is a thought lower than the first generation of e-Golf. Worse, fast charging is not possible. Short range without fast charging is an unfortunate combination. But the Focus's with the new grill actually look far more modern than the other Focus models of the time.
| Model | Km | Sale price new | Sale price now | Loss of value - per year | - % per year | Number of cars |
| Ford Focus Electric | 0-49 ′ | 199 000 | 120 000 | 17 600 | 8,8 % | 2 |
| Ford Focus 1,0 Ecoboost 125HK | 0-49 ′ | 269 000 | 173 000 | 21 300 | 7,9 % | 11 |
| Ford Focus 1,6/1,5 TDCi | 0-49 ′ | 284 000 | 160 000 | 27 500 | 9,7 % | 6 |
My favorite 2015 Ford Focus is the 1,5 TDCi 120 HP which replaced the 1,6 TDCi 115 HP towards the end of the model year.
2015 Volkswagen e-Up!
Finally, a model that is smaller than the other models, but has the highest percentage loss in value. The loss in value in kroner is almost the same as electric cars in the Golf class. But the loss in value for e-Up! is still lower than corresponding petrol cars.
| Model | Km | Sale price new | Sale price now | Loss of value - per year | - % per year | Number of cars |
| Volkswagen e Up! | 0-49 ′ 50′-99 ′ 0-99 ′ |
191 000 191 000 191 000 |
108 000 94 000 101 000 |
18 400 21 600 20 000 |
9,6 % 11,3 % 10,5%> |
4 4 8 |
| Volkswagen Up! 1,0 60HP High | 0-99 ′ | 159 000 | 90 000 | 20 000 | 12,6 % | 8 |
Conclusion
If your trade-in car is a 2015 model electric car, you do not need to worry about the trade-in price. Electric cars do not lose more in value than equivalent petrol and diesel cars. Teslas from 2015 have range and performance fully on par with the best you can get today. What surprises me a little is that cars with outdated technology can also holds value well. If you are looking for an aging e-Golf or KIA Soul, I recommend installing a wall charger at home, taking out insurance that covers damage to the battery pack and enrolling in Electric car association. Then you can drive problem-free for another five years.
Predictions that electric cars will plummet in value have so far not come true.
About the test
The stated sales prices are on-route prices in advertisements on Finn.no minus 5% for haggling. Trade-in price at a dealer can be significantly lower. New car prices are calculated as of November 2015, i.e. after the model year has ended. Source: skatteetaten.no
The loss in value is based on the car's chosen level of equipment - not additional equipment beyond this. Cars with a lot of extra equipment will therefore experience a greater loss in value than the figures here show. My purpose in calculating loss of value is to document how the loss of value on electric car models occurs in relation to other models - not to arrive at the real loss of value for specific cars.
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