Electric vehicle market sees high depreciation and new affordable models

The electric vehicle (EV) market is experiencing significant shifts in value and competition. An analysis by AutoUncle reveals that four-year-old EVs, such as the VW ID. 3 and Tesla Model 3, lose approximately 4,900 kroner in value per month, a 51 percent total decrease. This is significantly higher than the monthly depreciation of 1,900 kroner seen in four-year-old gasoline vehicles. Despite high depreciation, data from TÜV Nord and Carly suggests battery health remains high, with an average residual capacity of 96 percent across 50,000 tested vehicles.

In response to the growing demand for affordable models, Hyundai has opened pre-orders for the IONIQ 3 in Europe. Starting at approximately 190,000 kroner in the UK market, the compact EV is produced in Izmit, Turkey. The model offers two battery options, providing ranges between 344 and 497 kilometers. Hyundai aims to sell over 40,000 units in Europe by 2027, positioning the IONIQ 3 to compete directly with the Renault 5 and Volkswagen's upcoming ID. Polo in the highly competitive B-segment.