Saturday, September 6, 2025
Science
No Result
View All Result
  • Login
  • HOME
  • SCIENCE NEWS
  • CONTACT US
  • HOME
  • SCIENCE NEWS
  • CONTACT US
No Result
View All Result
Scienmag
No Result
View All Result
Home Science News Technology and Engineering

New research finds electric vehicles depreciate faster than gas cars, but the trend is changing

April 18, 2024
in Technology and Engineering
Reading Time: 2 mins read
0
New research finds electric vehicles depreciate faster than gas cars, but the trend is changing
66
SHARES
598
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT

WASHINGTON (April 18, 2024) – Thinking of buying an electric vehicle but unsure about its resale value? New research finds that while older electric vehicle models depreciate in value faster than conventional gas cars, newer electric vehicle models with longer driving ranges are holding their value better and approaching the retention rates of many gas cars.

WASHINGTON (April 18, 2024) – Thinking of buying an electric vehicle but unsure about its resale value? New research finds that while older electric vehicle models depreciate in value faster than conventional gas cars, newer electric vehicle models with longer driving ranges are holding their value better and approaching the retention rates of many gas cars.

The study examined more than nine million car listings at over 60,000 dealerships between 2016 and 2022. It found that older battery electric vehicles and plug-in hybrid electric vehicles with shorter driving ranges depreciated at faster rates than conventional cars and hybrid electric cars; the one exception being Tesla, whose older battery electric vehicle model held its value better. However, the study also showed the trend is changing–as newer model electric vehicles with higher driving ranges come online, they are retaining their value better than the older models with smaller driving ranges. The research also found that the COVID-19 pandemic significantly affected vehicle affordability, with mean listing prices for gas cars and battery electric vehicles rising 37% and 39%, respectively, in inflation-adjusted 2019 dollars from January 2020 to March 2022.

John Paul Helveston, an Assistant Professor of Engineering Management and Systems Engineering at the George Washington University and the study’s corresponding author, says this is a double-edged sword.

“While a higher resale value in future is better for new car buyers, it also means the end of lower cost used electric vehicles, which was an important source of affordable electric vehicles,” Helveston explains. He notes that the new $4,000 subsidy for used electric vehicles provided by the Inflation Reduction Act (IRA) might offset some of the burden in the used market.

Helveston is the doctoral advisor of GW Ph.D. student Laura Roberson, who led the study and recently defended her dissertation. The paper, “Battery-Powered Bargains? Assessing Electric Vehicle Resale Value in the United States,” was published in the journal Environmental Research Letter. The Department of Energy Vehicle Technologies Office supported the research. If you would like to speak with Prof. Helveston, please contact GW Senior Media Relations Specialist Cate Douglass at cdouglass@gwu.edu.

-GW-



Journal

Environmental Research Letters

DOI

10.1088/1748-9326/ad3fce

Article Title

Battery-powered bargains? Assessing electric vehicle resale value in the United States

Article Publication Date

17-Apr-2024

Share26Tweet17
Previous Post

Metabolic health before vaccination determines effectiveness of anti-flu response

Next Post

New perspective on morality as cooperation points to nuances in values in different political ideologies

Related Posts

blank
Technology and Engineering

Revolutionary Sandwich Composite Enhances Building Load Capacity

September 6, 2025
blank
Technology and Engineering

Coral-Inspired Pill Reveals Insights into the Gut’s Hidden Ecosystem

September 5, 2025
blank
Technology and Engineering

Breakthrough in Space-Time Computation by Rice and Waseda Engineers Fuels Advances in Medicine and Aerospace

September 5, 2025
blank
Technology and Engineering

Five University of Groningen Scientists Awarded ERC Starting Grants

September 5, 2025
blank
Technology and Engineering

Göttingen Campus Researchers Honored with Prestigious International Awards

September 5, 2025
blank
Technology and Engineering

Breakthrough Unleashes the Power of ‘Miracle Material’ for Next-Generation Electronics

September 5, 2025
Next Post
New perspective on morality as cooperation points to nuances in values in different political ideologies

New perspective on morality as cooperation points to nuances in values in different political ideologies

  • Mothers who receive childcare support from maternal grandparents show more parental warmth, finds NTU Singapore study

    Mothers who receive childcare support from maternal grandparents show more parental warmth, finds NTU Singapore study

    27544 shares
    Share 11014 Tweet 6884
  • University of Seville Breaks 120-Year-Old Mystery, Revises a Key Einstein Concept

    959 shares
    Share 384 Tweet 240
  • Bee body mass, pathogens and local climate influence heat tolerance

    643 shares
    Share 257 Tweet 161
  • Researchers record first-ever images and data of a shark experiencing a boat strike

    510 shares
    Share 204 Tweet 128
  • Warm seawater speeding up melting of ‘Doomsday Glacier,’ scientists warn

    313 shares
    Share 125 Tweet 78
Science

Embark on a thrilling journey of discovery with Scienmag.com—your ultimate source for cutting-edge breakthroughs. Immerse yourself in a world where curiosity knows no limits and tomorrow’s possibilities become today’s reality!

RECENT NEWS

  • Bullying and Depression: A Cyclical Issue in Children
  • Empathy Connects Grandparent Involvement to Grandchildren’s Kindness
  • Revolutionary Sandwich Composite Enhances Building Load Capacity
  • Enhancing TCGA Cancer Research with Multi-Omics Integration

Categories

  • Agriculture
  • Anthropology
  • Archaeology
  • Athmospheric
  • Biology
  • Blog
  • Bussines
  • Cancer
  • Chemistry
  • Climate
  • Earth Science
  • Marine
  • Mathematics
  • Medicine
  • Pediatry
  • Policy
  • Psychology & Psychiatry
  • Science Education
  • Social Science
  • Space
  • Technology and Engineering

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 5,183 other subscribers

© 2025 Scienmag - Science Magazine

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • SCIENCE NEWS
  • CONTACT US

© 2025 Scienmag - Science Magazine

Discover more from Science

Subscribe now to keep reading and get access to the full archive.

Continue reading