Which 2021 EVs Have Depreciated The Most In 5 Years?

A new study reveals that electric vehicles (EVs) from 2021 are losing value faster than their gasoline counterparts, with some models shedding over 60% of their original price in just five years. According to iSeeCars data, the average 5-year depreciation for a gasoline car hovers around 40% to 50%, but EVs are outpacing them, with a typical 5-year loss of 58% to 60%. The trend is improving slightly—iSeeCars forecasts the segment’s average 5-year depreciation will drop to 57.2% by 2026, down from a peak of 67.1% in 2019. Federal tax credits, battery degradation, and rapid technological advancements are accelerating EV depreciation, making used models significantly cheaper than their original sticker prices.

The 2021 Nissan Leaf tops the depreciation charts, with iSeeCars estimating a 63.1% loss in value. The 2021 Leaf launched at a starting MSRP of $32,700, but today, used examples are often listed for around $17,700 or less. CarEdge’s analysis is even more pessimistic, pegging the Leaf’s 5-year depreciation at 66%. The 2021 Volkswagen ID.4 follows closely, with iSeeCars reporting a 62.1% drop in value.

Used ID.4s are now available for around $28,000, a steep discount from their original $41,000 starting price and up to $50,000 in 2021. CarEdge’s figures align closely, estimating a 63% depreciation for the ID.4. The Tesla Model S ranks third, with iSeeCars reporting a 62% loss over five years. The Tesla Model X (61.2%) and Ford Mustang Mach-E (60.8%) also feature prominently in the high-depreciation group.

The Tesla Model Y is projected to lose 57.8% of its value after five years, while the Kia Niro EV (57.3%) and Hyundai Kona Electric (56.5%) round out the list. CarEdge’s estimates for the Tesla Model S are even more extreme, suggesting a 69% depreciation—potentially the worst among EVs. Not all EVs are losing value at the same rate. The Porsche Taycan wagon stands out with the best 5-year resale value in the segment at 53.1%, with used examples averaging $81,020.

The Dodge Charger Daytona takes second place with a 52.1% retention rate, followed by the Fiat 500e (51.7%), Mini Hardtop two-door electric (50.1%), and Hyundai Ioniq 5 N (47.1%). The Maserati GranTurismo Folgore retains 50.7% of its MSRP after five years, though dealers are reportedly offering steep discounts to clear inventory. The data underscores a stark reality for 2021 EV owners: rapid depreciation is the norm, but some models—particularly luxury and performance-oriented EVs—are bucking the trend.