The retention rates of new energy vehicles have been announced, and the gap with fuel - powered vehicles has narrowed. AITO, Li Auto, and Xiaomi vehicles are highly resistant to value depreciation.
To get a higher resale price, many people only consider the vehicle's depreciation rate when buying a car. In contrast, the depreciation rate of new energy vehicles has always been relatively stable, while that of traditional fuel - powered vehicles has remained relatively high. So, many consumers never consider new energy vehicles.
However, the latest depreciation rate data shows that not all new energy vehicles have poor resale value.
Recently, the China Automobile Dealers Association released the "Research Report on the Depreciation Rate of Chinese Automobiles in June 2025". The three - year depreciation rate of new energy used cars declined compared to May. Among them, the three - year depreciation rate of plug - in hybrid vehicles was 44.0%, a month - on - month decline of 2.1%; the three - year depreciation rate of pure electric vehicles was 43.1%, a month - on - month decline of 1.1%.
Source: China Automobile Dealers Association
There are also quite a few new energy vehicles with a one - year depreciation rate exceeding 80%. For example, the Wenjie M9, Tank 700 New Energy, and Xiaomi SU7. Many models under Li Auto and Tesla have a one - year depreciation rate exceeding 70%, which are all representatives with relatively high depreciation rates.
Another set of data shows that the three - year depreciation rates of new energy vehicles such as the Li L series, Denza D9, Lynk & Co 09 EM - P, NIO ET5, and Tesla Model 3 are all above 50%. In contrast, some classic joint - venture fuel - powered vehicles, such as the BMW 3 Series, Honda Civic, and Toyota Avalon, also have a three - year depreciation rate in the range of 50% - 60%.
New energy vehicles seem to be trying to shake off the label of "low depreciation rate".
The fundamental reason for the rising depreciation rate is more buyers
In the view of Dianchetong, there are three reasons for the low depreciation rate of new energy vehicles:
The prices of new cars are unstable. In recent years, there have been more and more affordable new energy vehicles;
The technology of new energy vehicles is evolving rapidly, and high - end technologies are gradually being made more accessible;
The warranties and other benefits provided by car manufacturers are basically only available to the first - owner.
Due to these reasons, the used - car market can only offer lower prices to attract users with limited budgets.
Source: Photo taken by Dianchetong
According to the data released by the China Automobile Dealers Association, the cumulative trading volume of the used - car market in 2024 was 19.6142 million vehicles, a year - on - year increase of 6.52%. The cumulative trading amount was 1.285205 trillion yuan, a year - on - year increase of 8.96%.
It is worth noting that in 2023, the trading volume of the used - car market increased, but the growth rate of the cumulative trading amount could not keep up with the trading volume, with a growth gap of about 3 percentage points.
In 2023, new energy car manufacturers were engaged in a price war. The fundamental logic for used - car dealers to make money is to buy cars at a low price and sell them at a high price to earn the middle difference. The frequent launch of new cars with low prices and high - end configurations led to a decrease in the transaction price of used cars.
Since 2024, there have been some changes in the new energy vehicle market: the "price war" in the entry - level and mid - range markets shows no sign of stopping, and high - end new energy vehicles are becoming increasingly popular. The market share of just three models, the Wenjie M9, Li L8, and Li L9, far exceeds the total of other fuel - powered vehicles.
These high - end models are recognized by the market because they perform better than traditional fuel - powered vehicles in terms of high - level intelligence, driving comfort, and low energy consumption. In particular, the Wenjie M9, leveraging the influence of Huawei, has quickly gained popularity in the high - end SUV market, and its price in the used - car market is indeed quite stable.
Screenshot: Ershouche.com
It is worth noting that the one - year depreciation rate of the Xiaomi SU7 has reached an astonishing 88.91%, far exceeding the 76.04% of the Tesla Model 3 and the 64.71% of the BYD Seal, overturning the stereotype that "new energy vehicles depreciate by nearly 100,000 yuan as soon as they leave the factory".
The fundamental reason is actually the high market demand. Since its launch, the Xiaomi SU7 has received a large number of orders. It was once reported by car owners that the delivery time for a new car could be about 45 weeks. Dianchetong has learned that the fastest delivery time for the Xiaomi SU7 is now 33 weeks. Naturally, some consumers in urgent need of a car will turn their attention to the used - car market. Used - car dealers don't have to worry about the lack of customers, so the price will inevitably be set at a relatively high level, and the depreciation rate of the Xiaomi SU7 will also increase accordingly.
Screenshot: Xiaomi Car APP
J.D. Power points out that Chinese consumers generally change their cars every 3 - 6 years. If they find that their cars cannot be exchanged for a higher price, some consumers may consider giving up changing cars or keeping their current cars for a few more years.
From the consumer's perspective, the rising depreciation rate of mainstream new energy vehicles is sufficient to show that new energy vehicles are no longer "worthless after a few years of use". Instead, in terms of technology and market recognition, they are a necessary option that can truly replace traditional fuel - powered vehicles.
It's okay but unnecessary to choose a fuel - powered vehicle for "high resale value"
To be fair, it is an undeniable fact that the depreciation rate of fuel - powered vehicles is generally higher than that of new energy vehicles. It is not realistic in the short term to boost the overall depreciation rate of the new energy vehicle market with just a few models with high depreciation rates. Therefore, fuel - powered vehicles are still the first choice for users who pursue high resale value.
However, Dianchetong wants to ask: Is it really worth buying a car based on the depreciation rate now?
To answer this question, Dianchetong takes a 200,000 - level fuel - powered vehicle (GAC Honda Accord) and a pure - electric vehicle (Tesla Model 3) used for three years as examples, and tries to conduct a calculation and analysis from three dimensions: energy - replenishment cost, insurance cost, and maintenance cost. We will present the statistical results of the two cars at the end.
PS: The three - year depreciation rates of the GAC Honda Accord and Tesla Model 3 are 56.58% and 54.0% respectively.
Source: GAC Honda official website
According to multiple automobile service platforms, the Honda Accord 260TURBO Premium Edition with a guide price of 214,800 yuan has a naked - car price of about 170,000 yuan after terminal discounts. After three years, it can be sold for up to about 100,000 yuan.
First, calculate the energy - replenishment cost. The WLTC combined fuel consumption of the Honda Accord is 6.71L/100km. Assuming an annual driving distance of 20,000 kilometers and a price of 7.38 yuan per liter for 92# gasoline in Guangdong, the annual fuel cost is about 9,903.96 yuan.
In terms of maintenance costs, the maintenance interval of the Honda Accord is 5,000 km or 3 months. According to information from automobile service platforms, the first maintenance includes a free engine oil change, with only a 298 - yuan labor and parts fee. After 12 months, the air conditioner filter and air filter need to be maintained. The total annual maintenance cost is 1,425 yuan.
As for the insurance cost, if we only choose the relatively cost - effective 200,000 - yuan third - party liability insurance and vehicle damage insurance, plus the necessary 950 - yuan compulsory traffic insurance, the annual insurance cost is 5,252 yuan.
Source: Tesla official website
Next, let's calculate the costs for the Tesla Model 3. The guide price of the entry - level Model 3 is 235,500 yuan, and its price is relatively stable. After three years, it can be sold for up to about 120,000 yuan.
The energy - replenishment cost of the entry - level Tesla Model 3 is relatively low. Its battery capacity is 62.5 kWh, and the power consumption per 100 kilometers is 11.2 kWh. Assuming an annual driving distance of 20,000 kilometers and a peak - hour electricity price of 1.5 yuan per kWh in Guangzhou, the annual charging cost is about 3,360 yuan.
The maintenance cost is also relatively low. The maintenance interval of the Tesla Model 3 is one year or 20,000 km, which only requires checking the air conditioner filter, brake fluid, and other routine inspections. The annual maintenance cost is approximately 630 yuan.
However, it has to be said that the insurance cost of the Tesla Model 3 is relatively high. The vehicle damage insurance alone exceeds 6,000 yuan. Even if we only choose the relatively cost - effective 200,000 - yuan third - party liability insurance, the annual insurance cost is 7,789 yuan.
After a simple calculation, we can get the following data.
Table made by Dianchetong
At least when roughly calculated over a three - year period, due to the higher depreciation rate, the cumulative expenditure of a fuel - powered vehicle is indeed higher than that of a new energy vehicle at the same price. However, for users who plan to use the car for more than five years, the cumulative expenditure of new energy vehicles will gradually decrease due to lower energy - replenishment and maintenance costs.
Now, if you really choose a car based on the depreciation rate, the key to spending less on a car is whether you have long - term needs.
Of course, this is only an analysis from the price perspective. New energy vehicles at the same price generally offer a better intelligent and comfortable driving experience than fuel - powered vehicles. Whether it's worth missing out on such a travel experience to save a few thousand yuan is a question you need to think about yourself.
Conclusion
In the long run, new energy is the main development trend of the automotive market. The current penetration rate of new energy vehicles has reached about 50%, and it is highly likely that new energy vehicles will surpass traditional fuel - powered vehicles in the future.
When new energy becomes the market's first choice, price wars, product, and technology iteration cycles will gradually stabilize, and the depreciation rate of new energy vehicles will naturally increase.
The depreciation rate, which is directly linked to market demand, will change as consumers' car - using habits change. The current decline in the depreciation rate of new energy vehicles is more of a necessary pain in the rapid development of the new energy industry. Of course, compared to the decline in the depreciation rate, Dianchetong is more looking forward to the rapid progress of the new energy vehicle industry.
This article is from the WeChat official account "Dianchetong", author: Dianchetong. Republished by 36Kr with permission.