Published on January 6th, 2016 | by James Ayre44
Nissan LEAF Last In Resale Value
January 6th, 2016 by James Ayre
Originally published on EV Obsession.
The 2015 Nissan LEAF has the worst initial resale value of all 2015 model-year vehicles, according to a new study from the car concierge website Carlypso.com.
The new report found that the 2015 Nissan LEAF depreciates, on average, 48%, by the time of the first resale.
The Nissan LEAF was followed closely on the list by the Dodge Charger (45%), the Mercedes-Benz SL-Class (41%), the Chevrolet Camaro (39%), the Kia Cadenza (38%), the Volkswagen Beetle (37%), the Chevrolet Express (37%), the Mitsubishi Lancer (35%), the Kia Optima (35%), and the Cadillac CTS (34%).
The GM-Volt.com website provides more (wonder why?):
Carlypso’s study of 300 vehicles and more than 46,000 transactions compared new vehicle prices versus auction sales prices. Its results are thus not reflective of new retail price versus used retail price, but rather new retail price versus used wholesale price. After a car is bought at wholesale, it is further marked up with what the used car market will bear, but bottom line is Nissan’s Leaf was dead last.
In 2015 the Leaf’s MSRP ranged from $29,010 to $35,120, and it’s previously been observed as having one of the highest depreciation rates. Factors impacting the Leaf’s resale value may include federal and state purchase incentives combined with manufacturer-backed incentives. Put plainly, buyers may net what is tantamount to a proportionately substantial $7,500 to over $10,000 incentive break – an effective discount of up to one-third of MSRP – that’s not available to used Leaf buyers.
Also not helping the 2016 Leaf has been anticipation of the revamped 2016 Leaf, which boasts up to a 25% larger EV range. The release of the next-generation Leaf also looms as it is expected to offer 200-miles of range or more.
“Nissan has taken a number of steps to enhance the value of Leaf through the vehicle’s life cycle, including adding the car to our certified pre-owned program and offering replacement battery packs,” stated Nissan electric-vehicles sales director Andrew Speaker. “We are also developing additional strategies to preserve the value of off-lease Leaf vehicles, and we are in the process of communicating those plans to our dealers.”
While the news is perhaps not great for those considering at some point selling their Nissan LEAFs, I suppose that the news isn’t bad for those considering buying a used Nissan LEAF at some point. And it would certainly help to explain the relatively low prices for used LEAFs in recent times.
Of course, part of the Nissan LEAF’s resale value being so low is the fact that the US federal tax credit for EVs cuts $7,500 off a new EV, which basically cuts $7,500 off the value of the car as soon as it rolls off the lot, not to mention normal depreciation. But still… the LEAF is last, worse than any other EV. Don’t go buying one and thinking it’s an investment.
Check out our new 93-page EV report, based on over 2,000 surveys collected from EV drivers in 49 of 50 US states, 26 European countries, and 9 Canadian provinces.