It is bad enough that they are gayer than Fossy’s gay ute, but now there is more evidence that electric cars suck.
Electric cars lose more money through depreciation than any other type of car, according to new research from car pricing expert CAP Automotive.
CAP analaysed the prices paid for used cars up until the end of October 2013, and the results make alarming reading for anyone that has bought an electric car.
According to CAP’s figures, when broken down into fuel types, electric cars were worth on average just 20.2 per cent of their list price after three years, compared with diesel and electric cars, which retained 44.7 per cent and 43.6 per cent respectively.
The figures don’t take into account the Government’s plug-in car grant of up to £5,000 towards the price of an electric car, or any discounts on list prices, but still suggest that there is a big difference between how much buyers are willing to pay for used electric cars compared with their conventionally fuelled counterparts.
Hybrid cars such as the Toyota Prius (below) depreciated more slowly than any other type of car, however, with a retained value of 45.3 per cent over the same period. Read more »