I agree with the depreciation argument. It all depends what your plans are with the car. In the United States, Kia is offering a 10 year/100k mile warranty on most everything except non-drivetrain electronics. There's not much that can go wrong on this car that wouldn't be covered. The underside is mostly aluminum. I put around 12k miles on the GT each year. It will be passed down to other family members and the warranty will continue and we will get our money's worth out of the car.

All EVs depreciate more than ICE cars. It is what it is. Same with being a first adopter in a lot of tech areas.

 

Buying an EV is a quality of life move, or a money saver if electricity prices are cheap (mine are 12 cents per kwh, delivered). If neither applies (You don't view EV as more fun, etc., and your electricity is expensive), then buying an EV is a terrible idea. I am getting my "money back" that I'd lose to depreciation, in fuel not paid for.

 

Excellent point! We have solar/batteries and that helps too. I'll add, I can't express too much how lovely it is to charge at home and NOT have to pump gas on a freezing cold windy/rainy day.

 

Also factor in the battery could last longer then the manufactures have quoted as an average life span.

 

I think its calendar life is fine, but I am projecting that it will be time to scrap my car at around the 175-200K mile mark. I bought it knowing that residuals would indeed reflect this reality.

 

That's a good point that we still don't have an answer on for the e-GMP battery. Someone will just have to chime in here 5 years from now. ha

 

Depreciation on EVs is particularly visible right now. That is part of the reason we bought a used 2022 FE ($30,500 - original buyer was soaked for $70,000 according to the sticker in the glove box) instead of our original plan to buy a new 2025 (which is really a 2026 by now, right?).

However, depreciation is certainly not limited to EVs. Asking google "typical 10 year depreciation of a gas vehicle"

A typical gas vehicle can depreciate around 60-70% of its original value over a 10-year period, with the most significant drop occurring in the first few years, often losing up to 20% of its value in the first year alone​

Asking google "typical 10 year depreciation of an electric vehicle"

An electric vehicle (EV) can lose about 50% of its value after 100,000 miles, which is faster than the depreciation rate for traditional cars.​

​

So while EV depreciation is certainly bad and quite visible, it is not good on ICE either.

Buy the dip! Use this time to get into EVs with a great price on a gently used EV-6.

 

I was just about to start a thread about this. So i bought a lease return EV6 for $43k out the door with 2780 miles. I'm thinking Wow that car just took a $23k hit the first year. I'm seeing '21 tesla S Plaids with 35 miles go for $55k!! I think.
Tesla's are very plain looking on the inside but you can't beat that deal. And if I can get 65k miles more out of the car then the combined miles of 100k for$55k is worth it to run it into the ground.

For me personally it's either that or seeing exactly what the '25 kia EV6 GT with 601hp and the 40hp "boost button will equate too. If it can beat the tesla 3 performance I would rather and my car right now with and take a 10k hit only driving it 3000k miles😭 and save up for another '25lease model turn In. If it can run a 3.1 0-60 or just but a used Plaid.

 

A lot of this is Twain obituary: "The report of my death was an exaggeration."

We don't know the life of Li-ion batteries in EVs. We have early indications.

We don't know what kills typical EVs. ICE drivetrains wear out.

We know that manufacturing defects and poor battery thermal management can kill Li-ion.
We know it's bad to breach the HVB case.
We know there are usage modes that shorten life.

We don't know what happens when millions of cars are driven for trillions of miles in a manner consistent with their design intent.
But indications are promising.

 

Our utility provider in Denver just announced a pretty hefty electricity rate increase for the next two years.

 

Anyone who is legitimately concerned about depreciation should either lease or buy used. EV ownership for me has been a net positive over my previous ICE car. Furthermore, to say it'll be worthless in 8-10 years is hyperbolic, because there will be a market for old EVs. It will be a great first car for a teenager whose parents don't have a ton of money, especially if they can't or won't sink a bunch of cash into repairs like is normally the case with old ICE vehicles. Battery degradation won't be an issue, because teens don't need to drive very far, and more importantly parents don't want their kids going very far.

 

It will be a great first car for a teenager whose parents don't have a ton of money, especially if they can't or won't sink a bunch of cash into repairs like is normally the case with old ICE vehicles. Battery degradation won't be an issue, because teens don't need to drive very far, and more importantly parents don't want their kids going very far.

All good points. Do you think a teen should get a 576 HP / 545 ft lb torque GT?
Kia should come up with a way to reduce acceleration/speed on these cars.

 

I had 3 Exhibition of speed/reckless driving back in 2004 with 300whp Eclipse Gsx that ran 12.8 and I definitely had a winning record. But that GT in 20year old hands would have got my license revoked 😁

 

My first car was an 92HP Civic. Surprisingly, you can still find 90s civics out there that are being sold as beater first cars for teens.

 

Trying to find a batter for my feiends kid. My neighbor has 2003 Honda civic ex 330k miles for $3000k lol My first car was a '88 nissan sentra when I was 16 (2002) for
$800

 

That era brings back memories as to how small those cars were. Put them next to an EV6 and they are dwarfed.

 

I really would challenge the notion of significantly reduced performance and range, especially at the 10 year mark. Unless you have been abusing the battery, there is no reason that should be happening at the 10 year mark.

EV depreication is bad right now because they were extremely overpriced and people paid over MSRP on top of that. There is a feeling that even now MSRP on EVs are too high, but the trend is to match parity with ICE cars. So depreciation will change as market changes.

Here is an Ariya with 130K miles in 2 years:

and unless you are looking to hit over 500K miles in 10 years, there is no reason the car should be even running into battery range reduction issues.

And you can buy Ariyas at more less price parity to Civics right now. When prices are low enough you are not going to see depreciation at the same rate. Heck there are new 2024 EV6 going for around $32K:

New Kia EV6 for Sale Near Council Bluffs, IA - Special Offers | Edmunds

Save money on one of 751 new Kia EV6s near you. Find your perfect car with Edmunds expert and consumer car reviews, dealer reviews, car comparisons and pricing tools. We have 4,726,676 new and used cars in our database with prices starting as low as $44,150.

www.edmunds.com

The depreciation is going to be limited by just how low a price you can get the car for.

 

I really would challenge the notion of significantly reduced performance and range, especially at the 10 year mark. Unless you have been abusing the battery, there is no reason that should be happening at the 10 year mark.

EV depreication is bad right now because they were extremely overpriced and people paid over MSRP on top of that. There is a feeling that even now MSRP on EVs are too high, but the trend is to match parity with ICE cars. So depreciation will change as market changes.

Here is an Ariya with 130K miles in 2 years:

and unless you are looking to hit over 500K miles in 10 years, there is no reason the car should be even running into battery range reduction issues.

And you can buy Ariyas at more less price parity to Civics right now. When prices are low enough you are not going to see depreciation at the same rate. Heck there are new 2024 EV6 going for around $32K:

New Kia EV6 for Sale Near Council Bluffs, IA - Special Offers | Edmunds

Save money on one of 751 new Kia EV6s near you. Find your perfect car with Edmunds expert and consumer car reviews, dealer reviews, car comparisons and pricing tools. We have 4,726,676 new and used cars in our database with prices starting as low as $44,150.

www.edmunds.com

The depreciation is going to be limited by just how low a price you can get the car for.

I have 37k miles. The battery has already lost 13% of its original capacity. Like I've said, by 150-200k miles it will be scrap.

 

Wow !

63790 / 74000 is indeed 86.2 % just like you said. Closer to 14% loss, really :-(​

Is there anything outstanding with your driving or charging routines? Did you have this car since new?

 

Nothing outstanding, had it since new. It's a Kia, mate. Temper those expectations.

 

I have a 2023 GT, build date 1/2023, leased new from dealer in 2/2024. First charge got a reading of 73,700mah. One year later still getting 73,700 after a charge to 100%. Only put 6,700 miles on it, during my 1 year. Only drained it to 20% once, very rarely fast charge. Mostly charge at home at about 4.5kW. I typically wait until I hit 80% and then charge to 100%. Plenty of full throttle runs,always at a high state of charge. I see 35 runs better than 11.5 in the quarter on my dragy. I am also in north florida, very rarely have cold weather. It's an in town car. I have no idea if any of this contributed to the low degradation. First six months, I charged with a 120v charger at home, until I got 240v plug installed.

 

The depreciation hit is one reason I decided to lease my EV6 - I've never leased a vehicle before.
My logic is -
If it depreciates much more than the amount used to calculate the lease, I can turn it in at the end of the lease and by the same year/model for less than the lease buyout. In any event, I know the max amount I would need to pay to keep the same year/model (i.e. my current car).

And if there is some dramatic change in battery (or other) technology, I can decide at the end of the lease whether the change is worth the extra cost for a new vehicle.

 

The depreciation hit is one reason I decided to lease my EV6 - I've never leased a vehicle before.
My logic is -
If it depreciates much more than the amount used to calculate the lease, I can turn it in at the end of the lease and by the same year/model for less than the lease buyout. In any event, I know the max amount I would need to pay to keep the same year/model (i.e. my current car).

And if there is some dramatic change in battery (or other) technology, I can decide at the end of the lease whether the change is worth the extra cost for a new vehicle.

When I got my EV6 GT, I was not eligible to lease vehicles. Now that I have a second car, I am. That said, I have this horrible habit of buying mid-priced cars and them flipping them 1-2 years later, and during COVID that was fine, but now it's financial suicide. All a lease does is kit the first buyer with the depreciation and then at the end of it, you get to pay out the pre-agreed residual (which is going to be high AF on these cars), OR you get to turn it in and have paid all that money to own nothing. I'm trying to shift in my consumership mentality to a more Warren Buffet style. Am I happy that the car will be scrap in 150-200K miles? Not really, but I do have a 120K mile bumper to bumper warranty that specifies 70% capacity minimal, so we will see if it plummets below that by 120K miles. It probably will, and I intend to keep the forum updated on whether the warranty covers a new battery or not. That will be a very exciting discussion! If not, I sure as hell won't waste my money on it. I will probably trade it for a certified X3M or X4M if that takes place. Identical enough performance, and I always wanted an M car. Of course, i always wanted an Italian car, and a bunch of other cars, so lets see if I can temper those vibes.

 

We have not seen the future. Replacing battery may also be cheap in 10 years.

 

Not sure they will even have battery replacements for our current Kia’s in ten years. The battery tech will have changed much by then.

 

This is why I leased as well (I don’t normally lease cars). Given growing pains like the ICCU issues with these cars I feel a bit better about my decision. Really love the GT otherwise. If they could come up with a dependable retrofit I may consider buying a highly depreciated used one.

 

I agree but in 10 years will it even be worth putting a new battery in a $5K EV?

Folks been put new engines in old cars for decades. You think human nature will change when cars do? Naaaaaa.

Not possible in most electric cars. ...

You need to get out more. You seem full of old news....

Nio has been doing swap-to-charge since 2019. Takes less than 5 minutes to remove and install the HVB, when the car's designed for it.

Of course, there may be no market for HVB replacement if there's any improvement on the ~2%/year aging rate that's common in today's HVBs. Granted, today's data is highly biased by Tesla's designs. Perhaps other makers are better off, but you can't tell with all that Tesla data.

And then there are the 3.5% upper and 4.7% lower buffers, limiting us to ~70 of the 77.4 advertised kWh capacity. 10 years may cost me 20%, but nearly half can be made up using reserves. WILL I NOTICE?

 

Well, if all new EV6s will now cost more due to tariffs, used prices might get a boost. At least in the US.

I realize that the 2025 non-GTs will be manufactured in the US but I'm guessing a lot of the parts are still coming from Korea. Imported parts are part of this new tariff. Of course, everything could change in a week, or day, or later tonight.

2025 EV6 GTs are still going to be manufactured in Korea. Not sure they would even sell if they cost $75k.

 

Now I’m also starting to wonder about my plan in September as well. I was leaning towards leasing or potentially buying a new GT if it appears the ICCU issues are resolved. I see the $10K off+ deals on 2024s now and am wondering if it may make sense to pay the remaining payments and buy the 2024. Still concerned about the ICCU.

I believe my other owned non EV cars will be with me for a long, long time as long as these tariffs continue. Maybe a good time to become a mechanic. It’s possible to keep cars on the road for a long time given my experience with my 77 Trans Am - not the world’s best built car to began with either.

 

The ICCU will never be fixed if your stock battery has been damaged. The abuse a non-AGM battery can take from the ICCU over-voltage charge is not the same as the stock battery. The ICCU and 12V battery work together in tandem to create the ICCU issue. It's a cyclical issue. I am not aware of any complaints where someone with an AGM battery has had an ICCU issue or where the AGM battery has failed.

 

Yeah that’s why I’m pretty certain we’re not going to keep our current GT, which killed off a non AGM battery but knock on wood the ICCU is still afloat.

 

If I was to buy a 2024 GT - and replace the battery right away with an AGM one- do you guys think the ICCU will hold up? My local dealer has 2 2024GTs at $49K.

The increase in power on the 2025 is nice but I also need to be real with myself that 576HP in the current one is really enough for how I drive it too.

 

Maybe the tariffs will slow down the depreciation on Kia vehicles. Some automakers are going to experience significant selling pressure in the very near future and Kia will be one of them.

 

Looks like the batteries for Kia will be fully made at Georgia, so it will up Kia's % tremendously. Speaking of which, the next big flop, the Hyundai Ioniq 9, is actually being built in the US. HMG has lost their minds if they think people are going to buy this car. They are continuing to triple down on EVs left and right without regard to the depreciation the owners are left with. I'm going to assume that all these new offerings will be heavily subsidized leases by HMG if they really expect to move product. How long can a company keep doing this?

 

I just pulled the trigger on a used GT yesterday specifically because of the tariffs. Tariff pricing will absolutely help to boost values of the GT quickly as new imports are likely tanking quickly.

We had a similar situation in the 90s, with 'new and exciting' cars like the 300ZX, MR2, and Supra turbos all hitting the market at about the same time. Then the dollar crashed against the yen. Those cars became too expensive for most new buyers, and sales dried up to the point that the companies just stopped importing them entirely. As that happened, used prices for these cars tended to stay higher on average, with some, like the Supra Turbo becoming virtual unobtanium at any price.

It wasn't until trade values balanced out and Subaru finally brought the WRX to the US in 2002 that any decent import performance cars were available new again for the USDM. That was about a 7 year dry spell.

I can't say with certainty that the same outcome is upon us, but I obviously would not argue that now is a bad time to be buying a GT either. The next several years are probably going to work out well for at least holding equity if not possibly seeing some appreciation with the coming stagflation.