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The data indicates that the average new vehicle has typically around 40% of its original value after three years; some EVs, however, have been shown to hold 60% of their value, or even more, over the same timescale. John Clark, Chairman of the John Clark Motor Group and The Electric Car Store says:

“The huge growth in the market is among the factors that are helping to protect EVs from the depreciation rates we see for petrol equivalents. It adds yet another favourable dimension for drivers looking to make the switch.”

Find out more about depreciation on the AA's website.