The Mercedes EQS, once a luxury electric vehicle with a price tag of $105,000 just two years ago, is now being offered for sale at a mere $41,826, despite having only 26,000 miles on it. This drastic drop in resale value highlights the significant depreciation that can occur with certain electric vehicles, particularly those from legacy automakers. In contrast, a new Tesla Model 3 Long Range starts at $39,990, including the Federal EV credit. This price point is not only more affordable but also offers a more reliable and efficient vehicle, as Tesla is known for its superior electric technology and performance. The situation for the Mercedes EQS serves as a cautionary tale for buyers considering high-end electric vehicles from traditional automakers, as the resale value can plummet dramatically in a relatively short period.
Bet they'll never get those buyers back for another car purchase.