Teslas Hold Their Value Better Than Other EVs

Tesla Model S (Credit: Tesla Motors )

A recent analysis of over 1.6 million data points, conducted by Autolist, confirms what we already know: Teslas are a better value than other electric vehicles. While the EV market is still in its infancy, other automakers have a big challenge on their hands.

Looking at depreciation rates, the Tesla Model S outperforms all other vehicles in its class. Autolist found that other pure electric vehicles depreciated more than virtually every other option in their class.

In other words, if you’re looking to get an electric vehicle, it’s a wise financial move to go with a Tesla Model S. Autolist found through live market data that the cars go for a 5% premium because they’re in such high demand for the used market. Other EVs have up to a 5% markdown, so owners lose money just to unload them.

At least for the time being, going with a more economically-minded electric car is a bad financial move, if you decide to sell it later. One big question is if the Tesla Model 3 will buck this trend. Either the brand’s clout will help with value retention, or it will fall victim to the same trends as the Nissan Leaf or other competitors.

So if you’re looking to make a wise investment and can’t afford a luxury car, something like a Toyota Corolla or Honda Civic is a superior bet.