50% EV Depreciation SHOCK!

Huge Car Bargains or Total Disasters?

Depreciation – it’s the silent assassin of the car world. You buy a brand-new motor, drive it off the forecourt, and before you’ve even parked it in your driveway, it’s worth significantly less. But what if I told you that some cars from 2024 have lost over half their value in just 12 months? Yes, you heard that right – 50% depreciation in just a year!

And guess what? This isn’t just some theoretical doomsday scenario. Thanks to data from Parkers, we’ve got hard facts on which cars have hemorrhaged the most money, and more importantly, which ones have actually held on to their value.

So, are these massively depreciating cars incredible bargains on the used market, or should you avoid them like yesterday’s leftovers? Let’s dive into the numbers and find out.

The Worst Depreciation Disasters of 2024

Parkers has compiled a list of cars that have taken a massive financial nosedive in just 12 months. If you bought one of these new last year, I feel for you. But if you’re shopping for a nearly-new bargain, you might just be in luck… unless, of course, there’s a reason nobody wants them!

Here are some of the biggest losers in 2024:

1. Vauxhall Corsa Electric Ultimate – Down 54.8%

• Price New (Jan 2024): £38,530
• Value After 12 Months: £16,275
• Amount Lost: £21,095

This is the biggest depreciation disaster of the year. A Vauxhall Corsa for nearly £40k? It’s no wonder buyers weren’t keen. The used market quickly corrected that mistake, slashing over half its value in just one year. Meanwhile, its petrol-powered equivalent held its value much better.

2. Fiat 500e – Down 52%

• Price New (Jan 2024): £34,140
• Value After 12 Months: £16,375
• Amount Lost: £17,765

A small, stylish city car with plenty of charm… but clearly, second-hand buyers aren’t fighting over them. The MINI Cooper, a similar urban runabout, held its value far better, proving that badge appeal still matters.

3. Mercedes-Benz EQS – Down 48.9%

• Price New (Jan 2024): £170,800
• Value After 12 Months: £87,265
• Amount Lost: £83,535

Ouch. This was meant to be Mercedes’ flagship electric luxury car, but the numbers tell a different story. With concerns about battery life, range anxiety, and rapidly evolving EV tech, high-end electric cars are struggling to hold value. Meanwhile, the petrol-powered Mercedes-AMG S63 saw only a 15.7% drop in comparison.

4. Porsche Taycan S – Down 47.6%

• Price New (Jan 2024): £186,300
• Value After 12 Months: £97,680
• Amount Lost: £88,620

A high-performance Porsche losing nearly £90k in a year? Unbelievable. This just goes to show how uncertain the used market is when it comes to EVs, even those from premium brands. Meanwhile, its petrol counterpart, the Porsche Panamera, only lost 33.9% of its value.

Which Cars Held Their Value Best?

Now, it’s not all bad news. Some cars managed to resist depreciation much better, making them the smarter new car purchases. Here are some of the strongest performers:

1. MINI Cooper – Down Just 17.3%

• Price New (Jan 2024): £35,525
• Value After 12 Months: £29,370
• Amount Lost: £6,155

Despite being in the same category as the Fiat 500e, the MINI proves brand strength matters when it comes to holding value.

2. BMW X1 35M – Down 12.2%

• Price New (Jan 2024): £47,535
• Value After 12 Months: £41,745
• Amount Lost: £5,790

SUVs remain solid investments, and BMW’s X1 35M proves that well-built petrol-powered models still have strong resale appeal.

3. Porsche 911 Turbo S – Down 21%

• Price New (Jan 2024): £180,600
• Value After 12 Months: £142,665
• Amount Lost: £37,935

This just proves that some cars are always desirable, no matter the depreciation trends. A Porsche 911 Turbo S will always have an audience.

Why Do Some Cars Depreciate So Fast?

Depreciation isn’t random – there are key factors at play:

• EV Uncertainty – Used buyers worry about battery degradation and charging infrastructure.
• Overpricing at Launch – If a car was overpriced new, the market will quickly correct it.
• Tech Moving Too Fast – Newer EVs keep getting better range, faster charging, and better incentives, making older ones less appealing.
• Badge Matters – Premium brands and desirable petrol-powered cars hold their value better.

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Should You Buy a Depreciation Disaster?

If you’re shopping for a nearly-new bargain, these highly depreciated cars could be a great deal. However, keep in mind:

• Ongoing Depreciation: Just because it’s lost 50% in the first year doesn’t mean it won’t keep dropping.
• EV Tech Evolution: That EV you’re eyeing might be outdated in just a couple of years.
• Cost of Ownership: High-end tech-heavy cars can be expensive to maintain, even at a discount.

https://browncarguy.com/2025/02/20/ive-written-the-ultimate-guide-to-automotive-content-creation-out-1st-march/

Final Thoughts – What Should You Do?

If you’re buying new, think long and hard about depreciation – it’s often the biggest hidden cost of car ownership. If you’re buying used, you might be able to snap up an absolute bargain, but be mindful of why these cars are so cheap.

💬 What do you think? Would you buy one of these depreciation disasters at a discount, or would you stick with a safer bet? Drop a comment below!

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