Chinese EV named fastest depreciating car as it loses 75% of its value in just three years

One little electric hatchback just got crowned the fastest depreciating car around.

According to new analysis by Auto Express using data from CDL Vehicle Information Services, the Chinese EV lost 75 percent of its value in three years.

But the reason behind it could have less to do with the car itself and more to do with how fast the world of EVs is changing.

And, while some electric cars are losing value, others are holding on tight.

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The fastest depreciating car and the tech race it couldn’t win

Meet the GWM Ora 03, a small Chinese EV that used to be called the ‘Funky Cat’.

It’s cute, colorful, and packed with tech, but after three years on the road it’s worth only about a quarter of its original price.

Brand new, it costs around $42,500 (£31,995), but three years later that number drops to roughly $10,900 (£8,250). 

That’s a big ouch on paper, but it might not be all the car’s fault.

Electric cars are moving forward fast.

Newer ones go farther on a single charge, charge faster, and often cost less because of grants and discounts.

So when a newer, better EV comes out, older ones suddenly look outdated.

Even if they’re still perfectly good cars.

It’s the same reason last year’s phone suddenly feels ancient the moment a new one launches.

And the Ora 03 isn’t alone. 

Other EVs like the Nissan Leaf, Jaguar I-Pace, and Lexus UX 300e are all seeing big drops, too.

Basically, early electric buyers helped kickstart a revolution, but the tech just evolved quicker than anyone expected.

On the flip side, what is holding value?

On the other side of the coin, the Mercedes-Benz G-Class Electric (G580) has barely lost any value.

After three years, it still keeps about 70 percent of its original price, even though Mercedes bosses once called it a ‘flop’.

Go figure. 

Other cars still holding their value include the Land Rover Defender 90, Porsche 911 GT3, and even some budget heroes like the Dacia Bigster and Dacia Jogger hybrids.

They don’t just hold value, they prove that simple, practical cars can be smart buys too.

So yeah, the Ora 03 might lose value quickly, but that doesn’t mean it should be written off.

It just means the EV world is moving really fast and sometimes being first means taking the hit.

For buyers, that’s actually good news – it means in a few years, you could snag one for a bargain.

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