With a sticker price of $28,305, the Chevrolet Spark EV is one of the most modestly priced electric vehicles on the market today. However, that doesn’t necessarily make the Spark EV one of the best long-term values, with the diminutive plug-in expected to retain just 28 percent of its list price in 5 years. That compares to 40 percent to a comparable conventionally-powered vehicle.
The value proposition is even worse for the Ford Focus Electric, with the battery-powered compact predicted to be worth just 20 percent of its $35,995 MSRP in five years. In comparison, a Ford Focus Titanium is predicted to retain about 36 percent of its purchase price.
Nissan’s Leaf is currently the most popular electric vehicle on the market, but that hasn’t helped the plug-in’s projected residual values. According to Kelley Blue Book’s analysis, the Leaf will cling to just 15 percent of its MSRP in half a decade.
“Pure electrics have been slow to catch on in the resale market,” Eric Ibara, director of residual consulting for Kelley Blue Book, told USA Today. Customers “have been willing to buy a new one, not a used electric vehicle.”
Three EVs – the Leaf, Fiat 500e and Smart Fortwo electric – top KBB’s worst predicted residual value list for 2014.
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