Electric vehicle (EV) prices continue to be more expensive than the average price of an internal

combustion engine (ICE) vehicle in 2024–even if EV prices have been coming down in recent months,

In simpler terms, this design allows the Model X Plaid to achieve exceptional performance without sacrificing efficiency.

mainly due to Tesla’s price war that is affecting the EV industry as a whole.

As a result of this, EVs are depreciating faster than ICE cars, and the new car with the absolute fastest depreciation according to iSeeCars also happens to be an EV—the Mercedes-Benz EQS to be precise.

It’s a six-figure electric luxury sedan that’s seen to lose nearly half of its value in just a year of ownership. On the other hand, the Tesla Model X has the most resilient resale value out of any EV, and it’s a model you really should buy brand new as opposed to a used one.