When it comes to depreciation, much of the focus has been on Electric Vehicles (EVs), but as an insightful article published in late December by the Car Dealer Journal revealed, when assessed on a like-for-like basis, the biggest losers are far from all being EVs.
The article uses data supplied by trade valuations experts Cap HPI to provide a Top Ten list of The Used Cars That Depreciated Most in 2024. It uses data for three-year-old cars with 30,000 miles to ensure consistent modelling.
The top 10 has four EVs, three hybrids and three internal combustion engine cars.
Ranked by highest depreciation, in terms of percentage lost, the Top Ten over the year were:
- Jeep Compass Hybrid, which lost 27.2%
- Kia Stonic diesel – down 23.6%
- Peugeot Rifter Electric dropped 20.9%
- Volvo C40 (electric) dropped 20.2%
- Vauxhall Vivaro Life Electric fell 19.5%
- Ssangyong Korando Diesel down 19.3%
- Vauxhall Astra hybrid dropped 19.2%
- Maserati Levante, which comes in petrol and diesel, dropped 18.5%
- Nissan Leaf (electric) fell 18.3%
- Range Rover Velar in hybrid form dropped 18%
It is a fascinating list of cars, and some surprises may exist. Where this report ranks so strongly is in its authenticity, comparing cars on the same basis rather than in isolation, and one final observation from Cap HPI – used car prices dropped 1.6% on average in November, with petrol and diesel cars suffering the worst falls.
