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Electric cars' depreciation shocker

2015-07-16 11:49

GOING NOWHERE SLOWLY: Nissan's Leaf and other electric cars have the worst depreciating value in the market. Image: Nissan

LONDON, England - Three electric cars are among the worst first-year depreciators in a “Bottom 10” released by motor trade valuation market leaders Glass’s

The Renault Fluence, Citroen C-Zero and Nissan Leaf E have all lost more than three-quarters of their value in the UK after covering about 20 000km during the past year.

Rupert Pontin, head of valuations at Glass, said: “The motor trade and used-car buyerrs remain interested in electric cars but are still reluctant to actually buy in numbers – and these depreciation figures reflect that fact."

SLUGGISH SECTOR

Pontin added: “To be fair, these three EV's are among some of the least attractive on the market – the Fluence and C-Zero each have a ‘last generation’ feel while the Leaf E is on the bottom rung of the Leaf range – but their presence does reflect the fact that the EV sector remains sluggish.”

Other models in the list include the least powerful, entry level, versions of some generally popular but ageing models such as the Vauxhall Insignia and Renault Megane.

Rupert explained: “There is very little enthusiasm in the market generally for poorly equipped cars and if they are also dated and have an older motor it really hits their prospects in the used market.”

However, Rupert added, these fast-depreciating cars now excellent value for money in the UK.

“It would be difficult to recommend a new Renault Fluence costing more than (the equivalent of) R272 360 but one that is around R74 000 at 12 months old is arguably a good buy for someone looking to try EV motoring.”

Wheels24 is awaiting local comment regarding the Nissan Leaf in SA.

Percentage retained value in UK after 12 months/20 000km.

1 Renault Fluence E ZE (70kW) Expression+ saloon four door auto - 27.21%
2 Vauxhall Meriva 1.4 16v (73kW) Expression MPV five door (2010 MY) - 29.05%
3 Chevrolet Cruze 1.4 (74kW) 4X4 LS station wagon five door 1398cc (2014 MY) - 31.78%
4 Citroen C-Zero E hatchback five door auto - 32.07%
5 Nissan Leaf E hatchback five door auto - 33.23%
6 Renault Megane 1.6 (75kW) Extreme estate five door - 33.26%
7 Vauxhall Insignia 1.4i 16v Turbo (103kW) SRi saloon 4d 1364cc (2012 MY) - 34.98%
8 Peugeot 207 SW 1.4 8v (75bhp) Access estate five door - 35.62%
9 Chevrolet Orlando 1.4 Turbo (103kW) LS five door 1364cc (2014 MY) - 35.96%
10 Peugeot 308 1.6 VTi (89kW) Access hatchback five door 1598cc (2013 MY) - 36.04%


Read more on:    renault  |  nissan  |  citroen  |  london  |  england  |  sales  |  electric cars

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