Why do Kia EVs depreciate so quickly?

OnlyYou

Active member
Jun 9, 2022
100
44
28
I read that the Kia Soul EV alone dropped 49% of its value! When you buy one, you are losing an average of £17,851 which is insane!

I have always liked Kia vehicles because they are built well yet they are still affordable but I cannot consider a Kia EV knowing this.
 

Matty

Member
Jun 9, 2022
95
39
18
This isn't a Kia issue, this happens with all EV cars right now and this is down to the cost to replace the battery. Standard cars can run decades on one engine but for most EVs, the battery will only last 5 to 8 years. Some of the replacement batteries can be insanely expensive too.

The capacity drops as well over time which makes them worth less when you sell them.
 
  • Like
Reactions: OnlyYou

OnlyYou

Active member
Jun 9, 2022
100
44
28
This isn't a Kia issue, this happens with all EV cars right now and this is down to the cost to replace the battery. Standard cars can run decades on one engine but for most EVs, the battery will only last 5 to 8 years. Some of the replacement batteries can be insanely expensive too.

The capacity drops as well over time which makes them worth less when you sell them.

That actually makes more sense. I remember reading about some electric cars from the '90s and they only got maybe 50 miles to a charge and the battery health as way worse back then. I guess we will just see improvements as more electric cars are built and batteries are improved.
 
  • Like
Reactions: Matty

EmilyS

New member
Jun 27, 2022
12
3
3
Get a Kia if that's what you love. It could give you years of enjoyment. I think all cars drastically depreciate the same way. A brand-new car depreciates in value as soon as it's sold and driven off the lot.
 

Piper

New member
Jul 23, 2022
11
0
1
I agree with @Matty. I bet that all EVs drop in value at a sharper rate than gas-powered vehicles due to battery life. Still, I'm pretty shocked at that number for a Kia Soul. That would put me off buying a Kia as well.