Recent data from European online auction eCarsTrade reveals which vehicles lost half their value in five years, starting with the BMW 7 Series; the model’s value declined €73,000 or around CA$114,507.
The company’s data also shows electric models the Nissan Leaf, Tesla Model S, and Chevrolet Bolt each lost over half their value. They said early EVs and luxury sedans saw the most price declines, while mass-market models like the Ford Escape managed better.
“The average new car loses about 20 per cent of its value in the first year and up to 60 per cent within five years,” the company said in its update. “To reveal which 2020 models have held their value-and which have not eCarsTrade compared original MSRPs with today’s average resale prices.”
The study ranks the vehicles with the most intense declines in value. This is meant to provide a clearer picture of which brands are still doing well, and which ones are slipping off the radar.
Ten vehicles were listed, starting with the BMW 7 Series, which depreciated 65.43 per cent in five years. The second place Tesla Model S depreciated 64.22 per cent in five years, the third place Audi A6 64.20 per cent, the fourth place Nissan Leaf 60.39 per cent, and the fifth place Tesla Model Y 58.46 per cent.
The Chevrolet Bolt EV was sixth on the list, followed by the Tesla Model 3, Jeep Grand Cherokee, Mercedes-Benz E-Class, and the Ford Escape.
