Driver concerns

Depreciation

Depreciation is the reduction in a vehicle's market value over time. Age, mileage, condition, demand, supply, technology changes and the cost of comparable new vehicles can all affect the rate. EV depreciation is not determined by battery degradation alone. Battery condition matters, but used-EV values also respond to new-car pricing, charging capability, warranty terms and market demand. Depreciation affects total cost of ownership because the difference between purchase price and resale value can be one of the largest costs of keeping a vehicle.