Electric Car Residual Values Drop: Report

Electric Car Residual Values Drop: Report

With electric and plug-in hybrid vehicles getting their prices slashed this year, it’s no surprise that residual values are also being cut.

The Nissan Leaf, which got a $6,000 price reduction to kick off 2013, has seen its residual value drop $2,500 according to ALG. ALG points at high incentives, price cuts, and a potential glut of models as all reasons for residual values for EVs and PHEVs dropping.

SEE ALSO: 2013 Nissan Leaf Gets Massive Price Cut

The Leaf isn’t the only vehicle that saw its residual values slashed, but was the one impacted the greatest. Albeit it’s also the one that saw the biggest price cut this year. ALG also trimmed the residual values on the Fiat 500e, Mitsubishi i-MiEV, and the Chevrolet Volt.

For 2013 Nissan slashed the 2013 Leaf’s price by $6,000 for a new starting price of $28,800. The Focus EV price has also come down in 2013, dropping $4,000 to $35,200. Meanwhile Honda lowered its Fit EV lease price from $389-per-month lease to $259 a month. In response to added competition, Chevrolet has dropped the price of the plug-in Volt for the 2014 model year by $5,000 to $34,995.

[Source: Automotive News]

Discuss this story at GasStinks.com

  • danwat1234

    A used Volt or other EV will be becoming in range for more people to buy

  • Shannon H

    Good point. They’re too expensive for a lot of folks now, but this should help.