Which 2021 EVs Have Depreciated The Most In 5 Years?

The depreciation curve for gas cars works differently from their electric vehicle (EV) counterparts. Whereas gas cars lose up to 30% of their value in the first two years and taper to around 8% or 12% per year after that, studies have shown that a typical EV loses 58% to 60% of its value after five years (via Recharged). Compared to the 40%-to-50% average 5-year depreciation of a gasoline car, it seems that federal tax credits, battery health, and technological advancements are turning the tide against the values of used EVs.

It's not all bad news for EVs, though, since the latest iSeeCars study shows that the 5-year depreciation forecast for the EV segment has improved to 57.2% in 2026, after peaking at 67.1% in 2019. Still, EVs are outpacing gas cars in depreciation, so you might want to pay attention if you own models such as the 2021 Nissan Leaf, Volkswagen ID.4, Ford Mustang Mach-E, or a Tesla Model S, since those EVs have the highest 5-year depreciation rates in the segment.

According to iSeeCars, the average 5-year depreciation of a Nissan Leaf is 63.1% — enough to put it at the top of the list of vehicles with the highest depreciation. The 2021 Leaf debuted with a starting MSRP of $32,700, but don't be surprised to find one on Facebook Marketplace for around $17,700 or less today. The numbers are even worse on CarEdge, which puts the 5-year depreciation of a Nissan Leaf at 66%. 

Next on the list is the 2021 Volkswagen ID.4, which iSeeCars estimates has lost 62.1% of its value over the last five years, meaning you can get one on the used-car market for around $28,000 today. That's quite a bargain for an electric crossover that started at around $41,000 and topped out at around $50,000 in 2021. CarEdge's forecasts largely confirm this, putting the ID.4's depreciation at 63% after five years.

Lastly, iSeeCars' study puts the Tesla Model S in third place with a 62% depreciation over a similar 5-year period. The Tesla Model X trails it at 61.2%, and the Ford Mustang Mach-E is not far behind with a 5-year depreciation of 60.8%. The popular Tesla Model Y is part of the onslaught and is forecasted to lose 57.8% of its value after 5 years. Rounding off the list of the EVs with the highest 5-year depreciation are the Kia Niro EV (57.3%) and the Hyundai Kona Electric (56.5%). Notably, CarEdge puts the 5-year depreciation of a Tesla Model S at a staggering 69%, which would make it the highest-depreciating EV on the market.

Not all EVs depreciate like there's no tomorrow. According to a separate iSeeCars study, the Porsche Taycan wagon has the best 5-year resale value among modern electric cars at 53.1%, with average prices holding at an impressive $81,020. The Dodge Charger Daytona is now more expensive for no apparent reason, and that's probably why it earns second place, with its 5-year resale value holding at an impressive 52.1%.

Other EVs with the best projected 5-year resale values include the Fiat 500e (51.7%), the Mini Hardtop two-door electric (50.1%), and the Hyundai Ioniq 5 N (47.1%). The Maserati GranTurismo Folgore managed to retain 50.7% of its MSRP after five years, but there's no knowing if that value will hold, since Maserati dealers are currently offering huge discounts to move the GranTurismo and GranCabrio Folgore out of showrooms.