This is enough to buy another car entirely.
Boasting low running costs and eco-friendly credentials, electric cars are attracting more buyers.
In fact, PwC‘s Electric Vehicle Sales Review found that sales of electric vehicles in the UK grew by over a fifth in the first quarter of 2023.
The findings revealed that electric cars (battery, plug-in and hybrid) combined made up a total UK sales market share of 53%.
Electric cars are proving popular, especially because the sale of new petrol and diesel cars and vans will be banned in the UK from 2030.
But despite this popularity, some electric cars perform terribly when it comes to holding their value.
We look at 10 of the fastest-depreciating models after three years of ownership.
Vauxhall Mokka Electric GS 50kWh
List Price: £38,800 (approximately)
3-year Resale Value: £15,200 (approximately)
The Vauxhall Mokka Electric is a very popular electric car.
Given this, you might think that buying a small electric SUV would see you safe from the perils of depreciation.
But this is not true.
This electric car loses over £23,000 in value across three years of ownership. This is enough to buy another car entirely.
Nevertheless, the Mokka Electric is comfortable and quiet, and every model comes loaded with features.
But the interior feels cheap in some places and it could be a little faster.
And with a range of 209 miles, it is worth noting that most rivals can travel further on a single charge.
Jaguar I-Pace EV400 R-Dynamic S
List Price: £69,000 (approximately)
3-year Resale Value: £26,700 (approximately)
With a price drop of £43,000, the Jaguar I-Pace is great for used car buyers but a nightmare for anyone buying new.
In fact, the £43,000 in lost value from the I-Pace is enough to buy another electric car.
Once you have gotten over the fact that the I-Pace retains 38.25% of its value, there is a lot to like about this electric SUV.
It drives well, offering the kind of handling which keen drivers will love while taking the sting out of ruts and bumps in the road thanks to a smooth ride.
While the material quality is not out of this world, there is still a wow factor to the I-Pace’s interior, plus lots of innovative technology, including a system which turns the rear-view mirror into a camera.
Mazda MX-30 Makoto 35.5kWh
List price: £35,550 (approximately)
3-year Resale Value: £13,400 (approximately)
This is Mazda’s first electric car, however, it is a fairly expensive proposition.
It will also lose its value faster than most rivals, depreciating by more than £20,000 after three years of ownership.
The MX-30 does not make up for its driving experience either because it has a range of just 124 miles and it feels slow on faster roads.
And while the interior is smart and the infotainment system is easy to understand, getting inside the MX-30 using its rear-hinged doors requires getting used to.
DS 3 E-Tense Opera 54kWh
List Price: £42,700
3-year Resale Value: £26,600 (approximately)
Buying a DS 3 E-Tense brand new is more expensive than other electric cars such as the Kia Niro EV and MG ZS EV.
The DS also depreciates faster than these models also.
But the DS impresses with its refinement and the fact that every version comes with lots of kit. Even entry-level versions receive climate control and a leather-wrapped steering wheel, plus faux suede trim.
But it is worth noting that the DS loses out to rivals when it comes to practicality.
This is because the rear seats are cramped and the boot is quite small.
Fiat 500 La Prima by Bocelli
List Price: £34,000 (approximately)
3-year Resale Value: £12,400 (approximately)
If you want to match retro looks with modern electric car technology, then the Fiat 500 is an option to think about.
It offers adequate performance and agile handling and while the range is just 115 miles, most commuters will find that they have enough.
The Fiat 500 is easy to see out of, while top-spec La Prima models get LED headlights for better visibility at night.
Despite the good aspects, it remains one of the fastest depreciating electric cars of 2023, dropping over £21,000 after three years of ownership.
Peugeot e-2008 Active Premium+ 50kWh
List Price: £35,900 (approximately)
3-year Resale Value: £12,400 (approximately)
If you are in the market for a small electric SUV with bold looks, the Peugeot e-2008 is worth considering.
Its 50kWh battery gives it a range of 206 miles and while that is not as far as some of its competitors, it should be enough for most trips.
This electric car provides a comfortable ride and is quiet at speed but it is not quick by electric car standards.
And both the Kia Niro EV and Volkswagen ID 3 will cost you less in depreciation over three years.
Smart EQ Forfour Exclusive
List Price: £23,400 (approximately)
3-year Resale Value: £8,000 (approximately)
The Smart EQ Forfour is one of the cheaper electric cars on the market but it is also one of the fastest depreciating, retaining just 34.1% of its value.
This car is also one to avoid as it has a range of just 78 miles.
It also has a bouncy ride and suspect handling.
The smaller Smart EQ Fortwo is a better option, keeping just over 40% of its original value after three years of ownership.
Nissan Leaf Acenta 39kWh
List Price: £28,900 (approximately)
3-year Resale Value: £9,700 (approximately)
The Nissan Leaf is one of the original modern electric cars and it is still worth considering if you are thinking about going green.
There are two versions to choose from, with 39kWh models offering a range of up to 168 miles, and 59kwh models managing 239 miles between charges.
While neither does brilliantly in terms of depreciation, it’s versions with the smaller battery which take the biggest hit, especially if you also choose entry-level Acenta trim.
At least the Leaf provides plenty of boot space while precise steering allows you to place the car exactly where you want it.
Renault Zoe Iconic R135 Boost Charge
List Price: £31,900 (approximately)
3-year Resale Value: £10,300 (approximately)
Like the Leaf, the Renault Zoe has been around for a long time but it remains a top choice if you are looking for a small electric car.
The R135 model has a 134bhp electric motor, and you should be able to travel for at least 200 miles between charges in real-world summer conditions.
But the headroom in the rear could be better and while most trims are well-equipped, automatic emergency braking (AEB) is not available.
It also retains just 32.1% of its value, meaning it is probably best to buy a used Renault Zoe.
Mini Electric Convertible Cooper S 33kWh
List Price: £52,500 (approximately)
3-year Resale Value: £16,800 (approximately)
The Mini Electric Convertible may look appealing but it has a lot of shortcomings.
It offers peppy performance but it is very expensive compared to its rivals.
This also means that it will depreciate a lot more than them, shedding over £35,000 after just three years of ownership.
But if you were to buy one, you would have rarity on your side.
Just 999 units have been made, with just 150 in the UK.
These electric cars do not perform well when it comes to holding their value.
In some cases, the amount lost due to depreciation is so much that you could buy another car with it.
Therefore, it is important to do your research when searching for a new car and consider buying a used model as opposed to a brand new one.
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