For some time now I’ve raised concern regarding the poor resale values of electric vehicles and that it would cost early adopters at trade-in time. Recent data supplied by the Australian Automobile Dealer Association, Automotive Insights Report, which studies used car sales, has found that electric vehicles lose 25 percent of their value in the first 12 months, depreciating at more than twice the rate of petrol-powered vehicles. A one-year-old EV loses a quarter of its purchase price compared to around 11.5 percent for petrol models. Diesel models were found to depreciate just five per cent in 12 months while Hybrids dropped just 1.7 per-cent in the same period. The AADA wisely attributed the strong EV depreciation to the aggressive discounting particularly from new Chinese brands entering the market while our best-selling EV, the Tesla Model Y, was slashed by $9500 during last year. I’m David Berthon.

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