New analysis has demonstrated how electric vehicles and PHEVs are holding their value after leaving the forecourt, with German brands performing very well.

The data, which has been put together by Comparethemarket has found that the Volkswagen e-Golf is the UK’s slowest depreciating electric car, however, the bad news is that the car has been discontinued and is now replaced by the ID 3.0.

The e-Golf has seen just a 25.1 per cent depreciation in the three years from being sold as new in 2017, heading off competition from Tesla who had the next four places in the EV list with their Model S 75, Model X 75D, Model X90D and Model S 100D all holding their value well.

In the PHEV market, the Porsche Panamera V6 E-Hybrid has shown just 21.1 per cent depreciation in the last three years. Sold at £81.141 brand new, its used price is now £64,030.

The fact that electric cars are holding their value so well will do little to help the market, as the cost of going electric is one of the main barriers for many to make the switch.

“The EV that holds its value the best is VW's electric version of the Golf, with used models selling for an average price of £23, 248 three-quarters of the 'new' price three years ago,” said a Comparethemarket statement

“This is followed by two Tesla models, the Model S 75 (26.7% depreciation) and Model X 75D (27.5%). Teslas are among the most expensive electric cars and benefit from regular software updates which help them retain their value.

“Looking at hybrid vehicles, the one with the best resale value over the last three years is the Porsche Panamera E-Hybrid, with depreciation of just 21%.

“This is followed by Mini’s hybrid offering, the Countryman Cooper SE (31.5%), and another version of the VW Golf, the GTE Advance (36.3%).”

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