8 Electric Vehicles That Will Depreciate the Most in 2024 [Yahoo! Finance]
Toyota Motor Corporation (TM)
US:NYSE Investor Relations:
toyota-global.com/investors
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Source: Yahoo! Finance
Early adopters remain committed to their E.V.s, but mass market consumers are still hesitant, largely due to worries about cost and a lack of infrastructure. Explore More: 4 Affordable Car Brands You Won't Regret Buying in 2024 Find Out: 6 Unusual Ways To Make Extra Money (That Actually Work) Now, potential E.V. owners have another reason to delay going electric: rapid depreciation. According to a recent iSeeCars study on 5-year depreciation rates, the subset of E.V.s on the market for at least five years has the worst depreciation of all the major vehicle types. According to the report , the average five-year depreciation rate for electric cars is 49.1%. The industry average was 38.8%. E.V. technology is still in a stage of relative infancy. That means that although all new cars depreciate quickly, many electric models fall victim to rapidly developing technology and get left behind quicker when newer models offer longer ranges and faster charges. According to iSeeCars exec
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