Electric Vehicle Resale Value Ranking

As the stock of new energy vehicles on the market increases, the attention to the sub-segment of the used car market for new energy vehicles is gradually increasing. Recently, the China Automobile Dealers Association and Jingzhengu jointly released the “2021 China Automobile Resale Value Study Report for the First Half of the Year.” If you are curious about whether the resale value of new energy vehicles has improved or is still dismal, the following data analysis may be of help.

It should be noted that because the majority of users currently purchasing pure electric vehicles, plug-in hybrid vehicles and other new energy vehicles have not owned them for very long, they cannot be compared with the ownership time of fuel vehicles that have dominated the market for nearly a century. Therefore, the current resale value data is mainly based on a one-year period.

Pure Electric New Energy Vehicle Resale Value Ranking

On this ranking list, the surprise leader is the Porsche Taycan. Although a number of models, led by the pure electric market leader Tesla and BYD, can occupy a place on this list, the emergence of this black horse definitely breaks people’s original perception of it as a “money-wasting” car. Of course, there is also a significant brand effect with Porsche.

Looking at the entire ranking list, the lineup is very clear: “luxury brands occupy the top and domestic brands follow closely.” Luxury brands still maintain a strong resale value due to their brand halo and brand premium, such as the Tesla Model X with a resale value of over 83%, which is already on par with luxury fuel vehicles. Domestic brands, represented by Wuling, BYD, and XPeng Motors, become the preferred choice for most people owing to their high cost performance.

Pure Electric New Energy Vehicle (Chinese Brands) Resale Value Ranking

On this ranking list, the top three are Wuling Hong Guang MINI EV, NIO ES8, and BYD Han EV. Since Wuling launched Hong Guang MINI EV, its high cost performance has made it repeatedly set new records on the pure electric new energy vehicle sales ranking list. In addition, NIO ES6 has also achieved excellent results in the first half of the year, with cumulative sales of 18,023 units. The BYD Han EV also completed the record of producing 100,000 new vehicles within a week of its first anniversary on the market.### Ranking of Resale Value of New Energy Vehicles

Based on the overall ranking, it is evident that more than half of the vehicles priced below ¥150,000 or above ¥300,000 are pure electric models, mainly due to the current “barbell-shaped” trend in the new energy vehicle market. However, it is undeniable that Chinese-branded pure electric vehicles now offer rich choices in terms of price, power battery range, and intelligent technologies.

Ranking of Resale Value of Emerging Automakers

Without a doubt, Tesla’s representative models, Model X and Model S, occupy the top spots on this list, while “Li ONE,” which has consistently ranked as the first tier emerging automaker in China, also made it to the top ten. Surprisingly, two models of NIO, “NIO ES8” and “NIO EC6,” have also entered the top ten.

Overall, “Li ONE” is increasingly gaining the public’s attention, and all three automakers have impressive sales and financial reports, as well as continuously rising valuations.

Ranking of Resale Value of Plug-in Hybrid Vehicles

Porsche Cayenne, a rare million-dollar luxury plug-in hybrid SUV in its class, ranks at the top of the list of top 15 one-year resale value for plug-in hybrid vehicles. This is why many wealthy people in cities with traffic restrictions and license plate quotas choose Porsche Cayenne. The brand’s credibility, domination of its sector, good product performance, the scarcity of new and used car terminal sources compared to the car’s recommended price after one year of ownership all contribute to the high resale value. So, there’s no need to ridicule it as part of the “people who stupidly have too much money” series – it takes financial investments seriously too.

Next, the “BBA” trio also occupies a place on the list. If anxiety about domestic brands or range performance exists, then quite a few joint venture models can also provide choices for this group.

Ranking of Resale Value of Plug-in Hybrid Vehicles (Domestic Brands)

On this list, almost all of the models ranked from 1 to 15 can stand out in the domestic plug-in hybrid vehicle market. In this unique group, only the BYD DM-i series may come to mind for vehicles ranked lower than the 15th spot.

Final ThoughtsIn terms of overall value retention data, plug-in hybrid models are still slightly ahead of pure electric models, mainly because of their different technological routes and their impact on daily consumer use. Plug-in hybrids are a combination of fuel-powered and electrification technologies, which have the advantages of rapid replenishment and long endurance, leading to slightly better overall value retention.

However, this value retention data is more inclined towards consumers planning to purchase new energy vehicles. For car owners planning to sell their new energy vehicles, its reference value is not actually high, not to mention that this is only the value retention rate of the first year of a new car. On top of that, there is a thorny issue where many car manufacturers explicitly specify that “warranty, maintenance, and other car purchase benefits are limited to the first owner.”

In addition, there are still many merchants who are reluctant to accept pure electric vehicles at present. On the contrary, some brands have launched official buyback policies which offer much higher prices compared to the second-hand car market. For car owners who truly want to sell their vehicles, this is actually a good sales channel.

This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.