A study into market depreciation of early battery-electric vehicles suggests the Tesla Model S is the biggest loser, dropping 89% of its original value in just 10 years.
That said, even what some would have seen as entry-level BEVs, such as the Fiat e500 and BMW i3, also see alarming depreciation, suffering 88% and 86%, respectively.
The study by Boohoff Law, comparing manufacturers’ recommended suggested prices from 2015 to average market resale value in 2025, sees the Model S leading a ranking of the 10 EV models with the highest value loss in 10 years.
The luxury BEV shows the most dramatic price decline with the highest initial price point among all studied models at $95,600. Its current resale value of just $9,800 represents the largest absolute dollar loss at $85,800, illustrating how old premium BEVs can suffer the worst depreciation as battery technology and range capabilities advance.
To put this in context, the car’s price-point rival when new is the Range Rover HSE LWB 4D, which retailed in the U.S. from $97,020 in 2015 and is now listed by Kelley Blue Book as having a market value of $19,999.
This means the aging gasoline supercharged 3.0L V-6 SUV is still worth 20.6% of its original value, resulting in a depreciation rate of 79.4% and only bested by the VW e-Golf in 10th spot at 78.59%.
However, while the old flagship Tesla will almost certainly see a marked reduction in range and/or performance over the 10-year period, the ICE Range Rover, if maintained well, should match its original manufacturer’s performance and fuel efficiency figures.
The study also sees one of the pioneers of electric transport technology, the Nissan Leaf, sitting mid-table at the fifth spot in the top-10 loser league, recording an 82% depreciation down from $29,010 when new in 2015 to become worth just $5,200 in today’s used marketplace.
“The dramatic devaluation of early electric vehicles reveals a market still coming to terms with rapid technological evolution,” says Boohoff Law managing partner Tatiana Boohoff. “For prospective BEV buyers, this pattern suggests careful consideration of long-term ownership costs, especially as newer models continue to extend battery life, range capabilities and charging infrastructure compatibility.”
