The Mercedes-AMG EQS 53 4Matic+ Sedan is one of the fastest-depreciating electric vehicles (EVs) in South Africa.
If you bought the battery-powered sports car in June 2023 brand new at a price of R3,415,250 it would be worth R2,999,450 on the second-hand market today, reflecting an average loss of R41,580 per month over the 10 months, or approximately 13% of its value.
The Jaguar I-Pace EV400 AWD S Black is second behind the EQS at an average depreciation rate of R34,983 per month, and the Audi e-tron 55 Quattro sits in third at R34,510 per month.
At the other end of the spectrum, the Volvo XC40 P8 Recharge Twin Motor Ultimate has seen the most gradual loss in value since it reached the market last year.
In April 2023, the Volvo retailed for R1,260,000 as new, and currently, it goes for R1,250,156, equating to a depreciation rate of R820 per month.
Trailing the Volvo are two BMWs, the iX1 xDrive30 M Sport and i7 xDrive60 M Sport, which return an average loss of value of R2,672 and R2,697 per month, respectively.
To reach these conclusions, we asked AutoTrader for the average selling price and registration year of all the individual EV models on its platform from the country’s top manufacturers, comprising Audi, BMW, Jaguar, Mercedes-Benz, Mini, and Volvo.
Using the magic of the Wayback Machine to find indexed web pages of the vehicles, we were then able to track down the historic pricing of just about all the EVs produced by these brands.
Comparing the two values, we found out how far the prices of these cars dropped between when they were first purchased as new and what they are listed for on the pre-owned market today.
EV depreciation in South Africa
The tables below detail the average depreciation rate of the various EVs on sale on AutoTrader as of March 2024.
It’s worth mentioning that regardless of the fuel it uses, the newer a model is the worse it suffers from a monthly loss of value, as cars are most vulnerable to depreciation in their first year or two on the road, after which it starts to taper off.
Porsche’s Taycan family was not considered for this comparison as the second generation of the EV has already reached the pre-owned market and therefore distorted the average listing values.
Audi
| Model | Average registration year | Price when new | Current average pre-owned price | Monthly depreciation |
|---|---|---|---|---|
| Audi e-tron 55 Quattro | 2023 | R1,745,000 (Jun 2023) | R1,399,900 | R34,510 p/m |
| Audi e-tron S Sportback Quattro | 2022 | R2,425,000 (Feb 2022) | R1,545,882 | R33,812 p/m |
| Audi e-tron 55 Quattro Advanced | 2021 | R1,990,000 (Feb 2022) | R1,343,929 | R24,849 p/m |
| Audi e-tron Sportback 55 Quattro S Line | 2022 | R2,115,000 (Feb 2022) | R1,545,967 | R21,886 p/m |
| Audi e-tron 55 Quattro S Line | 2022 | R2,045,000 (Feb 2022) | R1,506,615 | R20,707 p/m |
BMW
| Model | Average registration year | Price when new | Current average pre-owned price | Monthly depreciation |
|---|---|---|---|---|
| BMW i4 eDrive35 M Sport | 2023 | R1,293,300 (Mar 2023) | R1,109,960 | R14,103 p/m |
| BMW i7 xDrive60 Design Pure Excellence | 2023 | R2,825,000 (Jan 2023) | R2,641,500 | R12,233 p/m |
| BMW iX xDrive40 | 2022 | R1,650,000 (Jan 2022) | R1,382,061 | R9,924 p/m |
| BMW i4 M50 | 2022 | R1,600,000 (Jul 2022) | R1,398,506 | R9,595 p/m |
| BMW iX3 M Sport | 2022 | R1,290,000 (Jul 2022) | R1,103,868 | R8,863 p/m |
| BMW iX xDrive50 | 2022 | R2,175,000 (Feb 2022) | R1,989,917 | R7,119 p/m |
| BMW i7 xDrive60 M Sport | 2023 | R2,900,000 (Jan 2023) | R2,859,550 | R2,697 p/m |
| BMW iX1 xDrive30 M Sport | 2023 | R1,180,000 (Mar 2023) | R1,145,269 | R2,672 p/m |
Jaguar
| Model | Average registration year | Price when new | Current average pre-owned price | Monthly depreciation |
|---|---|---|---|---|
| Jaguar I-Pace EV400 AWD S Black | 2023 | R2,074,700 (Jan 2023) | R1,549,950 | R34,983 p/m |
| Jaguar I-Pace EV400 AWD HSE First Edition | 2019 | R1,920,700 (Mar 2019) | R873,588 | R17,166 p/m |
| Jaguar I-Pace EV400 AWD SE | 2020 | R1,776,900 (May 2020) | R1,062,438 | R15,201 p/m |
| Jaguar I-Pace EV400 AWD HSE | 2019 | R1,820,900 (Mar 2019) | R995,998 | R13,523 p/m |
| Jaguar I-Pace EV400 AWD S | 2021 | R1,687,230 (Mar 2019) | R989,000 | R11,446 p/m |
Mercedes-Benz
| Model | Average registration year | Price when new | Current average pre-owned price | Monthly depreciation |
|---|---|---|---|---|
| Mercedes-AMG EQS 53 4Matic+ Sedan | 2023 | R3,415,250 (June 2023) | R2,999,450 | R41,580 p/m |
| Mercedes-Benz EQC 400 4Matic | 2022 | R1,679,000 (Aug 2022) | R1,237,999 | R22,050 p/m |
| Mercedes-Benz EQA 250 Progressive | 2023 | R1,174,000 (Apr 2023) | R960,736 | R17,772 p/m |
| Mercedes-Benz EQB 350 4Matic Progressive | 2023 | R1,379,000 (May 2023) | R1,214,900 | R14,918 p/m |
| Mercedes-Benz EQB 350 4Matic AMG Line | 2023 | R1,432,000 (May 2023) | R1,279,210 | R13,890 p/m |
| Mercedes-AMG EQE 43 4Matic Sedan | 2023 | R2,200,000 (Jun 2023) | R2,089,900 | R10,009 p/m |
| Mercedes-Benz EQE 350+ Sedan | 2023 | R1,800,000 (Jun 2023) | R1,699,000 | R9,182 p/m |
| Mercedes-Benz EQA 250 AMG Line | 2022 | R1,222,500 (Aug 2022) | R1,152,104 | R3,520 p/m |
Mini
| Model | Average registration year | Price when new | Current average pre-owned price | Monthly depreciation |
|---|---|---|---|---|
| MINI Hatch Cooper SE Hatch 3-Door Trim S | 2021 | R686,400 (Jul 2021) | R504,954 | R5,498 p/m |
| MINI Hatch Cooper SE Hatch 3-Door Trim L | 2020 | R722,000 (Jul 2020) | R482,317 | R5,326 p/m |
| MINI Hatch Cooper SE Hatch 3-door | 2022 | R681,000 (Apr 2022) | R588,245 | R3,865 p/m |
Volvo
| Model | Average registration year | Price when new | Current average pre-owned price | Monthly depreciation |
|---|---|---|---|---|
| Volvo XC40 P6 Recharge Single Motor Plus | 2023 | R1,108,000 (Sep 2023) | R1,017,481 | R12,931 p/m |
| Volvo XC40 P8 Recharge Twin AWD | 2022 | R1,260,000 (Jun 2022) | R989,633 | R12,289 p/m |
| Volvo XC40 P6 Recharge Plus | 2023 | R1,075,000 (May 2023) | R941,675 | R12,120 p/m |
| Volvo XC40 P6 Recharge | 2023 | R1,075,000 (Apr 2023) | R959,950 | R9,588 p/m |
| Volvo XC40 P8 Recharge Twin AWD Ultimate | 2023 | R1,260,000 (May 2023) | R1,215,302 | R4,063 p/m |
| Volvo XC40 P8 Recharge Twin Motor Ultimate | 2023 | R1,260,000 (Apr 2023) | R1,250,156 | R820p/m |
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