The EV Resale Reality
Electric vehicles took the market by storm but their resale value? Not so much. Across the US, UK, and GCC, used EVs are now dropping 30-40% faster than their petrol counterparts.
Here’s why.
1. Battery Degradation Anxiety
The biggest fear for EV buyers is the battery.
Even with 8-year warranties, the uncertainty of long-term performance scares used buyers. Replacing a pack can cost as much as a small car.
2. Tech Is Moving Too Fast
Each new EV comes with better range, faster charging, and smarter tech making last year’s models feel ancient.
Think of it as the smartphone problem only with wheels.
3. Incentives & Oversupply
Governments are pushing EV sales hard. Subsidies for new buyers are crushing used market demand.
Dealers can’t move second-hand units fast enough.
The Verdict
EVs are amazing tech but not great assets (yet). Until battery life and charging standardize, depreciation will continue to hit harder than petrol cars.
