Top 10 EVs Losing Value Fast: Great News for Used Buyers

Electric vehicles (EVs) that have lost the most value since being sold new five years ago include the Audi Q8 e-tron, Jaguar I-Pace, Tesla Model S, Nissan Leaf (SV Plus), Tesla Model X, Mercedes EQS, Tesla Model Y, Hyundai Kona Electric, Tesla Model 3, and Porsche Taycan. The Tesla Model S suffered the biggest percentage price drop, with an average price in June 2025 at $46,700, nearly 16% lower than it was 12 months earlier. Used EV buyers can save thousands on a reliable, low-mile used car by avoiding new cars and opting for pre-owned options.

Electric vehicles (EVs) have seen significant depreciation since their introduction, particularly in the luxury segment. As of June 2025, several high-end EVs have experienced notable price drops, including the Audi Q8 e-tron, Jaguar I-Pace, Tesla Model S, Nissan Leaf (SV Plus), Tesla Model X, Mercedes EQS, Tesla Model Y, Hyundai Kona Electric, Tesla Model 3, and Porsche Taycan. Among these, the Tesla Model S has seen the most significant depreciation, with an average price of $46,700, a 16% drop from the previous year [1].

The Mercedes-Benz EQS, a luxury electric sedan, has also faced substantial depreciation. Initially priced at $100,000, used EQS models can now be found starting at around $30,000, a significant drop from its new price [2]. This depreciation is particularly pronounced in luxury EVs, where the combination of high initial costs and rapid technological advancements leads to quicker price declines.

Used EV buyers can benefit from these depreciation trends by saving thousands on reliable, low-mileage vehicles. For instance, the EQS offers a 10-year warranty for the high-voltage battery, making it an attractive option for those seeking a used luxury EV [2]. Similarly, the Tesla Model Y, now priced at ₹60 lakh in India, offers a compelling value proposition for those willing to consider used models.

However, potential buyers should be cautious. While used luxury EVs can be a great investment, they often come with higher repair costs due to their high-end components. Additionally, the lack of a warranty can be a significant risk for those who may not have the financial resources to cover unexpected repairs.

In conclusion, the depreciation of luxury EVs presents an opportunity for savvy used car buyers. By understanding the trends and potential risks, investors and financial professionals can make informed decisions about their EV investments. As the EV market continues to evolve, it is essential to stay informed about these depreciation trends to maximize potential savings and minimize risks.

References:
[1] https://www.business-standard.com/industry/auto/url-tesla-model-y-price-in-india-vs-us-china-dubai-europe-canada-125071500358_1.html
[2] https://insideevs.com/news/765915/used-mercedes-benz-eqs-low-price-ownership/