On paper, an electrical vehicle sounds great: lower fuel bills, less servicing, and a cleaner conscience. However, it’s also essential to consider that the EV resale value in Australia has been one of the bumpiest rides in the used car market for the past three years.
This article breaks down current EV depreciation data by model, the forces driving value down, which electric vehicles are holding up best, what's coming in the used EV market over the next few years, and how to protect your position, whether you're selling now or planning ahead.
EVs are depreciating faster than petrol cars and significantly faster than hybrids. According to the AADA/AutoGrab 2025 Annual Automotive Insights Report, a one-year-old EV in Australia loses an average of 25% of its value, compared to 11.5% for petrol vehicles and just 1.7% for hybrids over the same period. For multi-year retention, AutoGrab's 2024 Automotive Insight Report (the most recent published dataset) shows the average EV retains 68.7% of its value after two years and 60.3% after three, compared to 92.4% for hybrids at the three-year mark.
Before diving into the why of electric car resale value, here's where things currently sit across the models Australians actually buy. These figures represent approximate used-market values in mid-2026 relative to original drive-away prices, adjusted for typical kilometres (around 15,000 km/year). Individual conditions, options, and regions will affect final valuations.
| Model | Original New Price(approx.) | Approx. 3-Year Retained Value | 3-Year Depreciation | Notes |
|---|---|---|---|---|
| Tesla Model 3 (2022–2023) | $72,000–$103,000 | $42,000–$45,000 | 56–58% | Price cuts hit resale hard. |
| Tesla Model Y RWD (2022–2023) | $68,000–$77,000 | $38,000–$44,000 | 40–44% | Still Australia's best-selling EV. |
| Tesla Model Y Long Range (2023) | $81,900 | $52,000–$56,000 | 32–36% | Best resale retention in Tesla's lineup. |
| BYD Atto 3 Extended (2022–2023) | $49,990–$55,990 | $32,000–$36,000 | 35–40% | Strong demand keeps values stable. |
| BYD Dolphin / Seal | $38,990–$65,000 | $27,000–$45,000 | 30–38% | Seal is proving more resilient. |
| MG ZS EV (2021–2022) | $40,990–$44,990 | $22,000–$28,000 | 38–45% | Older technology impacts resale. |
| MG4 (2023) | $38,990–$48,990 | $28,000–$34,000 | 28–35% | New platform holding value well. |
| Polestar 2 (2021–2022) | $73,400–$84,900 | $40,000–$50,000 | 40–50% | Values remain volatile as brand grows. |
| Hyundai Ioniq 5 (2022–2023) | $72,000–$98,000 | $45,000–$58,000 | 35–42% | 800V architecture boosts demand. |
| Kia EV6 (2022–2023) | $67,000–$94,000 | $38,000–$52,000 | 38–45% | Strong reputation supports resale. |
| Nissan Leaf (2020–2022) | $49,990–$59,990 | $20,000–$28,000 | 45–55% | Battery cooling remains a concern. |
| BMW iX3 / Audi e-tron | $100,000+ | $45,000–$75,000 | 55–65% | Luxury EVs depreciate the fastest. |
Figures are indicative estimates based on publicly available market data as of mid-2026. Individual vehicles will vary. For an accurate valuation of your specific EV, get a free car valuation in Brisbane at We Buy Cars.
Tesla is still the benchmark for EV resale in Australia, but its reputation took a serious hit during the manufacturer's 2023–2024 price-cutting phase. At its lowest point, the Model Y RWD had been cut to $55,900, almost $16,000 cheaper than it was at the end of 2022. Every one of those price cuts hit the EV resale values of owners who'd paid full price.
The 2025 Model Y Juniper has stabilised things somewhat. The 2025 Model Y Juniper has stabilised things somewhat. In a March 2025 exclusive interview with Chasing Cars, Tesla Australia Country Director Thom Drew signalled the company intends to step back from frequent price changes. Whether that commitment holds is the key question for 2026 Model Y owners.
Right now, a well-maintained 2023 Model Y Long Range is priced at $52,000–$56,000, making it one of the better value retention stories in the EV segment. The standard RWD 2022–2023 models have fared harder, typically sitting at $38,000–$44,000 depending on kilometres and condition.
BYD's rapid growth in Australia has been impressive, but it has created a complex resale picture.
The Atto 3 was popular when it launched, and affordable models like the MG4 and BYD Atto 3 are holding their value reasonably well thanks to strong demand.
A 2022–2023 Atto 3 Extended in good condition sits around $32,000–$36,000, reasonable retention given the original drive-away prices. The newer Seal has proven more resilient, partly because its tech stack (800V architecture, longer range) is less outdated relative to current new cars. The Dolphin, as the entry-level option, has held up in percentage terms thanks to volume demand.
The wildcard for BYD resale is the speed at which the brand has expanded its model lineup. Buyers considering a used Atto 3 are now aware that the Atto 2 and Seal exist, and that BYD pricing has continued to drop on new models.
The MG ZS EV is showing its age. Earlier models (2021–2022) used a 400V platform with a relatively modest range, and the new MG4 has comprehensively replaced it in the minds of most buyers. Used ZS EVs are sitting around $22,000–$28,000, depending on year and condition, which reflects real value but also shows buyers know there's a better product available new for not much more money.
The MG4 tells a better story. It launched at a competitive price point and uses a more modern platform with a reasonable range. A 2023 MG4 is holding around $28,000–$34,000, which represents better percentage retention than older Chinese EVs.
The Polestar 2 sits in an interesting spot: a well-engineered premium EV that competes with the Model 3 on performance and equipment but carries lower brand recognition in the Australian used market. Sales volumes here are modest, making it harder to draw clear resale conclusions from local data. What is clear globally is that early 2021–2022 models have taken steep losses, while newer models have held up better. For sellers, expect buyers to benchmark it directly against equivalent Model 3s and price accordingly.
The Ioniq 5 and EV6 benefit from three things:
Older Hyundai Ioniq EVs have depreciated less in percentage terms than their petrol equivalents. That said, neither has been immune to the overall pressure on electric car depreciation. A 2022 Ioniq 5 is sitting around $45,000–$55,000, depending on variant and condition, which is solid retention for the segment, but still a meaningful drop from original drive-away prices. The EV6 tracks similarly.
The Leaf gives us the most complete long-term EV depreciation picture in Australia, having been on sale since 2019. The specific issue is its passive air-cooled battery.
Unlike modern liquid-cooled EVs, the Leaf’s design choice of opting out of an active thermal management system makes it more sensitive to heat and frequent fast charging, particularly in hotter Australian climates. A well-maintained southern-climate Leaf is worth considerably more than the same-year car with heavy DC charging history in a hot climate.
EVs lose approximately 25% of their value in the first 12 months, compared to 11.5% for petrol vehicles and just 1.7% for hybrids in the same period. Several forces are driving that gap, and understanding them matters whether you're selling now or planning when to sell.
When a manufacturer lowers the price of a new car by $5,000–$10,000, the EV resale value across models in Australia drops almost immediately. Used cars compete directly with new ones, and buyers won't pay near-new prices for a second-hand vehicle when the new version is only marginally more expensive.
Chinese manufacturers (BYD, MG, GWM, Chery, and more) have entered the Australian market at aggressive price points, dragging the floor down across the EV segment. When a new BYD Dolphin can be purchased for under $40,000, used EVs in the $35,000–$45,000 range face serious competition just to justify their price.
EV technology is advancing faster than in almost any other category in automotive history. A 2022 EV that felt cutting-edge now has a 2025 replacement with noticeably better range, faster charging, and more refined software. Buyers know this, and it's reflected in what they're willing to pay for older tech.
Fear of battery degradation continues to discount EV values, even though real-world data suggests the fear is largely overstated for modern liquid-cooled EVs. Buyers nervous about battery health offer less, and sellers pay the difference.
The gap between 400V (slower) and 800V (faster) charging architectures has become a meaningful consideration for used cars. Older EVs on 400V platforms are at a disadvantage against newer 800V vehicles like the Ioniq 5, EV6, and Polestar 3.
This one is forward-looking but already priced in by cautious buyers. Large volumes of EVs bought on 3-year novated leases from 2022–2024 will hit the used market from 2025/2026 onward. More supply, same or lower demand = further price pressure.
To understand how manufacturer pricing decisions affect individual owners, consider what happened to buyers who purchased a Tesla Model Y Long Range in early to mid-2023.
At the time, the Model Y Long Range launched in Australia for $81,900 before on-road costs. Add stamp duty, registration, and CTP in Queensland, and you're looking at a drive-away price of roughly $88,000–$92,000.
Then came the price cuts. Tesla cut the entry-level Model Y RWD to just $55,900 (almost $16,000 cheaper than it was at the end of 2022) in a series of reductions through early to mid-2024. The Long Range followed with its own reductions.
By 2025, the refreshed Juniper Model Y Long Range launched at $68,900 before on-road costs, a full $13,000 below the original 2023 price. A buyer who paid $88,000 drive-away in mid-2023 now owns a vehicle competing against a newer, better-equipped version at $13,000 less, before any age or mileage depreciation is applied.
The good news, at least for now: Tesla Australia has signalled it intends to move away from frequent price adjustments with the Juniper generation. If that commitment holds, the most damaging chapter in Tesla resale history may be closing.
This is the question that suppresses EV resale values more than almost any other, and the data suggests buyers are significantly overestimating the risk.
Geotab's 2025 analysis of over 22,700 electric vehicles, covering 21 different models, found the average battery degradation rate is 2.3% per year, with average capacity projected at 81.6% of original after eight years.
What does that mean? An EV with 500 km of claimed WLTP range will, after eight years of average use, still deliver around 408 km. That's a usable range for the vast majority of Australian drivers.
An AVILOO study analysing over 7,000 vehicles with mileage up to 300,000 km found that batteries rarely fall below 70% capacity during the warranty period, and that most significant capacity degradation occurs in the first 30,000 km, after which the process slows dramatically and becomes almost linear.
The specific caveat worth knowing: not all EVs are equal on this front.
Modern liquid-cooled EVs actively manage thermal management. They monitor battery temperature, precondition before charging, and throttle charging speeds to protect cell longevity. The Nissan Leaf is the exception that gets conflated with the rule.
Battery anxiety is a reasonable concern for older passive-cooled EVs in hot climates. For modern EVs from 2021 onward with liquid cooling, the fear is largely overblown and continues to create buying opportunities for informed used-car shoppers.
Most mainstream EV manufacturers offer a battery warranty covering capacity retention (typically to 70% of the original). That warranty travels with the car and is worth factoring into your decision on when to sell.
Despite the broader pressure on EV resale value in Australia, some models are pulling away from the pack. The standout performers in 2026 are the BYD Atto 3 (original and Extended variants), Tesla Model Y Juniper (2025 model), Kia EV6, and Hyundai Ioniq 5.
The worst performers in Australian electric car resale value right now fall into three clear categories.
With a median retail cost of $171,979 (as of 2022), the Audi E-Tron had the highest initial value of any EV in iSelect's analysis of Australian EV resale data, but second-hand models were selling for just $69,990 after three years of use, which is a 59.3% decrease. BMW iX3 models showed similar losses of around 59%. These vehicles lost tens of thousands of dollars in absolute terms, not just percentages.
Any EV released before 2021 is now competing against vehicles with meaningfully better range, faster charging, and more sophisticated software. The original Nissan Leaf, early MG ZS EVs, and first-generation Chinese EVs have found a natural floor in the used market, but that floor is defined by how far buyers will stretch for older tech. It also moves lower every time a new affordable EV arrives at a competitive new-car price.
Used EV prices generally are down from over $80,000 to just above $50,000 on average for two-to-four-year-old EVs. Models exposed to repeated manufacturer price cuts suffered the steepest used-market corrections.
For context, here's where EVs sit against their drivetrain alternatives on Australian resale performance:
| Drivetrain | First-Year Depreciation | 3-Year Retained Value | Example |
|---|---|---|---|
| Hybrid | ~1.7% | ~92% | Toyota RAV4 Hybrid |
| Petrol (Mainstream) | ~11.5% | ~78–85% | Toyota HiLux |
| EV (Average) | ~25% | ~60% | Various models |
| Toyota Land Cruiser 300 Series | ~2–5% | ~80–85% | Exceptional outlier |
Recent Australian data reveals EVs lose approximately 25% of their value in the first 12 months, compared to 11.5% for petrol vehicles and just 1.7% for hybrids. AutoGrab's 2024 Automotive Insight Report confirms that EVs retained an average of 68.7% of their value after 2 years and 60.3% after 3 years.
At the other end of the spectrum, Toyota's flagship 4WDs remain the standout outliers. CarExpert's analysis of Australian resale data confirms Toyotas dominate the list of vehicles that hold value best locally, with some near-new models worth more than their original price.
Hybrids currently win the depreciation argument by a wide margin. But EV depreciation is only one part of total ownership cost. Data from the EV charger network Evnex, drawn from 5,000 Australian chargers, shows average annual fuel savings of $2,820 compared to a petrol car. This is before accounting for servicing savings from fewer moving parts.
This is the part of the EV resale story that matters if you're planning when to sell.
Australia's EV FBT exemption, introduced in mid-2022, triggered a significant wave of EV purchases through novated leases. Employees across the country used the exemption to salary-package EVs at materially reduced effective costs, and most of those leases were written as three-year arrangements.
The maths on what's coming: a substantial proportion of the EVs bought under the FBT exemption from mid-2022 through 2024 will cycle off their leases between 2025 and 2027, landing on the used market as off-lease vehicles. It's already beginning.
Novated leases are one of the main pipelines feeding used EVs into the Australian market. As off-lease and salary-packaged vehicles cycle back into the market, they become second-hand options for private buyers.
And there's now a policy layer on top of that. In May 2026, the government confirmed a three-phase restructure of the EV FBT exemption:
This restructure has two effects on the used EV supply. First, the off-lease wave from 2022–2024 purchases is already arriving. Second, if the exemption wind-back slows new novated lease starts from 2027, the downstream effect on used supply will begin to be felt from roughly 2029 to 2030, when the leases signed around the deadline would typically cycle off.
The period between 2025 and 2028 is likely to see the largest simultaneous influx of used EVs hitting the Australian market. Supply glut equals further pricing pressure. If you're an EV owner with a choice about when to sell, understanding this wave is part of making a well-timed decision.
You can't control manufacturer pricing decisions or government policy. But you can control the things that buyers actually inspect and pay a premium for.
State of Health (SoH) documentation is the most underrated resale tool for EV owners. Most EVs can generate a battery health report through the manufacturer's app or via a third-party OBD diagnostic tool. A documented SoH of 95%+ at 60,000 km tells a buyer exactly what they need to know, and justifies a premium over an undocumented equivalent.
If your car uses the BYD app, Tesla app, or a connected diagnostic platform, download a battery report periodically. Keep those records.
A quality wallbox charger (typically $800–$1,500 installed) adds tangible value to a sale. Many buyers, particularly those new to EVs, place genuine value on not having to source and install their own charging setup. Including the wall charger, any cables, and the original adapters in the sale tells buyers you've maintained the entire ecosystem.
A clear service history can affect your EV resale value. Keep records of:
Two timing factors matter most.
First, sell before the next major model refresh is announced. The moment Tesla announces a new Model Y or BYD announces an Atto 3 refresh, your current example becomes the "old version" in the buyer's mind.
Second, avoid selling during the Q1 new-car delivery surge (January–March), when buyers have maximum choice and can push prices down. Late autumn (April–May) and the lead-up to the financial year-end have historically been better windows for used EV sellers.
If you're thinking about selling your car fast in Brisbane and want a same-day outcome rather than timing the private sale market yourself, We Buy Cars removes that uncertainty entirely.
The same depreciation story that hurts sellers creates a real opportunity for buyers. Here's an estimation of where the value sits in mid-2026.
| Model | Year | Approx. Used Price | Why It's a Sweet Spot |
|---|---|---|---|
| Tesla Model 3 (Standard Range) | 2022–2023 | $42,000–$48,000 | Years of battery warranty remain, access to Tesla's Supercharger network, and regular over-the-air software updates. |
| BYD Atto 3 Extended | 2022–2023 | $32,000–$36,000 | The Blade Battery has an excellent reputation for longevity, BYD's expanding service network adds confidence, and running costs are significantly lower than comparable petrol SUVs. |
| MG4 (Excite or Essence) | 2023 | $28,000–$34,000 | More advanced technology than the MG ZS EV, competitive driving range, and plenty of factory warranty remaining. |
| Hyundai Ioniq 5 (Standard or Long Range) | 2022 | $45,000–$52,000 | Its 800V architecture enables ultra-fast charging that's still competitive with new EVs, backed by Hyundai's comprehensive warranty. |
All of these represent vehicles where the steepest depreciation has already occurred, but meaningful battery warranty and modern feature sets remain. The used EV sweet spot in 2026 is roughly 2–3 years old, liquid-cooled, with documented service history and a SoH report.
If you're on the other side of this equation and are looking for cash for unwanted cars in Brisbane, We Buy Cars assesses all eligible vehicles fairly against current market data.
Selling an EV privately adds layers of complexity that petrol car sellers don't face. Buyers ask about battery health, want SoH documentation, and ask about charging history, DC fast charge frequency, and whether the car has had any warranty work. Plus, they frequently use uncertainty about answers to talk prices down.
We Buy Cars has been purchasing used vehicles across Brisbane and South East Queensland for over 30 years, and our team regularly handles EVs, including Teslas, BYDs, and Hyundais. We assess them the same way we assess any vehicle: against current market data, current demand, and the car's actual condition in front of us. If you're thinking it’s time to sell my car in Brisbane and want a straight answer on what your EV is actually worth today, the process starts with a free online valuation.
For EVs with finance still owing, we handle the payout directly with your lender. You receive the difference after settlement, with no separate finance arrangement required on your end. If your EV came with optional extras such as Full Self-Driving capability or a premium audio package, we factor them into the valuation. The wall charger and any cables included with the sale are noted during the inspection and are included in the final offer.
Payment is via Osko or EFT on the same day you accept the offer, and we handle all transfer documentation. No RWC is required on your end. We manage that as part of our own resale process, which is one less cost and one less delay when you're ready to move on. If you're considering your options, an instant offer for your car takes about a minute and carries no obligation to proceed.
Ready to find out what your EV is worth right now? Get in touch with We Buy Cars. We'll give you a clear, market-based answer with no pressure and no runaround.
Yes. Data shows EVs lose approximately 25% of their value in the first 12 months, compared to 11.5% for petrol vehicles and just 1.7% for hybrids. Over three years, the average EV retains around 60% of its original value. The gap is real, though it's narrowing as the used EV market matures and buyer confidence grows.
The Tesla Model Y (particularly the Long Range and Juniper variants), Hyundai Ioniq 5, and Kia EV6 are consistently the strongest performers on electric car resale value in Australia. Among more affordable options, the BYD Atto 3 and MG4 are holding up better than older Chinese EVs. What they share: used-market demand, modern charging architecture, and manufacturers that haven't repeatedly slashed new-car pricing.
Tesla's price-cutting strategy from 2023 to 2024 is the main driver. The Model Y was cut to $55,900, and every reduction immediately reset the used market. When new cars get cheaper, used cars follow. Tesla's EV depreciation in Australia is less about the quality of the vehicle and more about the manufacturer's pricing decisions. The Juniper Model Y generation may tell a different story if Tesla holds to its commitment to price stability.
Geotab's analysis of 22,700+ EVs found an average annual degradation of 2.3%, with the typical battery projected to retain 81.6% of its original capacity after 8 years. Most mainstream manufacturers back that with an 8-year battery warranty. The Nissan Leaf with passive cooling is the exception, as it degrades faster in hot climates with frequent fast charging. For modern liquid-cooled EVs, battery longevity is not a big concern.
It depends on your model, its condition, and how long you intend to hold it.
Broadly, EV resale values in Australia have stabilised following the sharp corrections of 2023–2024. The market has found a floor for most mainstream models. That said, the FBT off-lease supply wave is actively building and will continue to exert downward pressure through 2026–2027. If you're on a 3-year ownership cycle and that cycle ends this year, selling now rather than waiting makes sense. For personalised advice, speak to an expert at We Buy Cars for a free market-based valuation.
Waiting is a reasonable strategy only if you don't need the capital now. Electric car depreciation curves do flatten significantly after the first 2–3 years. The risk in waiting, however, is that additional used EV supply from expiring novated leases arrives over the next 18–24 months, maintaining price pressure.
The full FBT exemption phases out progressively: from April 2027, full exemption only for EVs under $75,000; from April 2029, a 25% FBT discount only for all EVs under the LCT threshold. For used EV resale, the more significant impact will be the supply wave of leases signed during the exemption period, which will cycle off between 2025 and 2027.
More off-lease EVs hitting the market = continued pressure on used prices.
For used car buyers, that's an opportunity. For sellers, it reinforces the case for not delaying longer than necessary.
To a degree, yes, but less so than three years ago. Early EVs with WLTP ranges of 300 km or less were legitimately limited to urban commuting. Modern EVs with WLTP range of 450–600 km have effectively neutralised range as a practical daily concern for most drivers. What remains is the psychological legacy of early EVs, and that does still discount some models, particularly older ones, where real-world range has degraded to below 300 km. Well-maintained EVs with current SoH documentation sell faster and for more than undocumented equivalents.
For the right model at the right price, genuinely yes. The 2–3-year-old sweet spot (liquid-cooled battery, 450+ km range, with battery warranty remaining) delivers modern EV ownership at 35–45% below the cost of buying new. Running cost savings compound from day one, and unlike buying a new EV, you're not exposed to the steepest part of the depreciation curve. The key is buying a well-documented example with a verified SoH report.
Most modern EVs allow SoH reporting through the manufacturer app (Tesla app, MyBYD, Bluelink for Hyundai/Kia). For a more detailed report, third-party diagnostic tools such as OBDII-connected apps can generate a detailed battery health printout. Some dealers and EV-specialist workshops also offer paid battery health checks. Having a current, dated SoH report at the time of sale is increasingly expected by informed buyers and can meaningfully improve your negotiating position. If you're selling a car without a roadworthy in QLD, battery documentation becomes an even more important trust signal in the transaction.
