Even though EV sales are a bit sluggish and the technology is taking some time for consumers to adopt, it appears that two of the more popular EVs and PHEVs – the Chevrolet Volt and the Nissan Leaf – are retaining much of their value on the used car market.
According to the June edition of the NADA Official Used Car Guide, the 2011 Nissan Leaf had an average trade-in value of $23,975 which is an impressive 95 percent of its sticker price of $25,280 after the $7,500 federal tax credit. The 2011 Volt had an average trade-in value of $29,325 which is about 90 percent of its $32,780 sticker price after the same federal tax credit. Now of course these numbers could be a little bit skewed because of the tax credit, but it’s only fair to compare apples to apples.
The 2011 Honda Civic Hybrid on the other hand had a trade-in value of 76 percent of its sticker price, while the Toyota Prius remains strong at 88 percent. Obviously both the Volt and Leaf have barely been on the market for over a year, so it’s still too early to jump to any real conclusions. But for now, it appears that EVs may do a good job retaining their value.