Spread the loveRight now, electric vehicles are driving change within the automotive industry and as more and more drivers (and even business owners) are thinking of making the switch to electric vehicles, one question that keeps coming up is whether electric cars hold their value better than those with combustion engines. As electric cars are still relatively new, there isn’t too much information out there regarding exactly how fast electric vehicles will depreciate. While electric cars don’t have combustion engines, they do have batteries instead – and these can also be a consideration for depreciation. This means that internal combustion engine vehicles aren’t outperforming electric vehicles in terms of use. This means that while electric cars may not necessarily hold their value better now, the more the industry sees growth and the better electric cars become, the more likely they will be to hold their value in the future.

Source: Wall Street Journal June 19, 2023 10:50 UTC