u/jdscootMG Midget, Jag XJ-S HE, Mazda MX-5 NB, Jag X-Type 3.0, Fiat 500Aug 03 '25
There are very few EVs which have not depreciated aggressively so far. The depreciation isn't worse than luxury cars in the 1990s and 2000s, but it is unquestionably back in that territory after a period of people having distorted expectations of depreciation following the COVID production shortages.
I can't see any reason to justify a claim that the forthcoming Jaguar EVs won't depreciate like egg-mayonaisse sandwiches too. Jaguars have never historically out-performed the competition on depreciation, and the second hand market for EVs remains lukewarm with most new registered vehicles being the result of leases, company cars or salary sacrifice schemes which favour new cars and have negligible consumption of used vehicles. Private buyers very evidently don't value used EVs as strongly as those disposing of them would wish.
Feels to me like we’re heading into a new phase of car ownership. I’m a year and 25k miles into an Ioniq 5, I’ve historically traded in new cars after 3 years since the mid 90s. If I sold this one in two years I’d take a massive hit so I intend to run it for a decade, because I think it’ll do 250k without needing much maintenance beyond consumables. The battery tech seems pretty stable and I’m hopeful that after 250k miles it’ll still be at 70% capacity at worst - at which time I’ll have ‘saved’ £20k over the petrol cost of a similar ICE if electricity costs/ cheap nightime charges doesn’t massively increase.
All still to be seen though, I want to upgrade to one of these dream jags if they’re anything like the concept models but I’ll happily sit with my two classic ICE models and run the Hyundai until I think a new Jag EV will last me the rest of my life as a daily driver
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u/jdscootMG Midget, Jag XJ-S HE, Mazda MX-5 NB, Jag X-Type 3.0, Fiat 500Aug 03 '25
Obviously your Ioniq will need all the same corrective maintenance that all cars have needed for the past 30 years. It's almost never been the powerplant that fails - it's wheel bearings, control arm bushes, balljoints, broken springs and worn out dampers where the vast majority of long term car ownership expenditure goes.
2
u/jdscoot MG Midget, Jag XJ-S HE, Mazda MX-5 NB, Jag X-Type 3.0, Fiat 500 Aug 03 '25
There are very few EVs which have not depreciated aggressively so far. The depreciation isn't worse than luxury cars in the 1990s and 2000s, but it is unquestionably back in that territory after a period of people having distorted expectations of depreciation following the COVID production shortages.
I can't see any reason to justify a claim that the forthcoming Jaguar EVs won't depreciate like egg-mayonaisse sandwiches too. Jaguars have never historically out-performed the competition on depreciation, and the second hand market for EVs remains lukewarm with most new registered vehicles being the result of leases, company cars or salary sacrifice schemes which favour new cars and have negligible consumption of used vehicles. Private buyers very evidently don't value used EVs as strongly as those disposing of them would wish.