Electric vehicles (EVs) are depreciating much faster than the average for all cars, with one notable exception—Tesla, whose vehicles hold values better than their gas-powered rivals. Automotive research firm and car search engine iSeeCars.com has examined the depreciation of EVs and found that the lightly-used electric cars—the average three-year-old used prices—in the EV segment depreciate on average 56.6 percent, compared to average depreciation of 38.2 percent for all vehicles. “Categorically, electric vehicles depreciate more than the average vehicle because resale values take into account the $7,500 federal tax credit and other state and local credits that were applied to these vehicles when they were bought new,” iSeeCars CEO Phong Ly says. “Because the technology of EVs changes at a rapid pace, obsolescence also plays a role in their dramatic depreciation as well as consumer range anxiety and lack of public charging infrastructure,” according to Ly. The best bargains for […]