After one year, a Mercedes-Benz EQS loses almost half its value, reaching an average of $65,143, the survey shows. Meanwhile, the Kia Rio loses just $21 in the first year of ownership.
It’s no secret that new cars take a big hit in value when they leave the dealership. Some are bigger hits than others. Next is the Mercedes-Benz EQS. According to a study published by iSeeCars, luxury EVs in sedan, SUV, and AMG trims combined save a whopping 48.7% of the average new car price within one year of purchase. This is equivalent to $65,143. This is essentially the equivalent of liquidating the entire E-Class.
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It’s also not the only electric vehicle to feature on iSeeCar’s list of the fastest depreciating cars. Five of the top 10 vehicles surveyed were electric vehicles, with the Nissan Leaf taking second place. The average loss is only $15,786, but even with the fairly low starting price, we’re still talking about a 45% decline. Jaguar was the internal combustion engine vehicle to lose the most, losing $28,555, or 35.4%, with the F-Pace coming in third. Alfa Romeo isn’t far behind, with the Giulia down 33.4%, or $16,297 on average. The Kia EV6 ranked fifth with 33.3%, with an average loss of $18,081.
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What about vehicles that don’t take such a financial beating? The survey revealed a lot of love for hybrids, but it was the bold Kia Rio that caught our eye. Americans still seem to want cheap combustion-powered compact cars. Because even after one year of use, the average price only drops by $21. That’s a drop of just 0.1%, meaning lightly used Rios are still selling for nearly full price. The fact that it was excluded from Kia Motors’ lineup in 2024 could also be a factor.
Saving face for Mercedes is the G-Class, which falls 2.3% (average $4,587) to third place on the least declining scale. Meanwhile, losses on the Ford Maverick average only about $1,400. Here they come in fourth and fifth place, representing standard combustion models and hybrids, at 4.1% and 4.4%.
This is the average new sticker price after one year. We suspect this is skewed because new 2024 models are slow to hit the market, increasing demand for used SUVs as impatient buyers tire of waiting or refuse to pay high dealer markups. The iSeeCars team also mentions this theory.
The study evaluated more than 1.6 million new and used listings from January to March 2024, including 2023 and 2024 model year vehicles. In this case, “used” means a vehicle with less than 20% of 13,476 miles on it, which is roughly the average mileage for a year. Low volume niche cars were excluded from the study.
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It’s interesting to see a clear decline in EV prices compared to the strong residuals for used hybrids. While this supports the decline in demand for fully electric vehicles that we have seen, hybrids remain a desirable choice for many people. This study breaks down new and used cars by price range and location in the U.S. in more detail and can be found at the source link below. “The EQS SUV can do it all, but it lacks the character and ultimate authority that makes the Range Rover so iconic.”
EQS is related to the regular Stone Age S-Class, EQE is related to E-Class, so meet the EQS SUV. It is the first full-size off-roader based on Mercedes’ all-electric ‘EVA2’ architecture. Its old-school analogue is the GLS, a vehicle that’s unfairly overlooked in the luxury car world.
Keep in mind that the Mercedes series, which comes in a variety of models and designations, is so large that you could easily fit one or two behind the sofa. But it had to be a big sofa. The GLS is huge.
Same as the EQS SUV. It shares a 3,210mm wheelbase with the EQS sedan, has an overall length of 5,125mm and is 200mm taller. Although it weighs over 2.7 tons, it is a complete 7-seater vehicle. That kind of curb weight is especially prized in the junior league North American market. Still, you won’t want to miss one of these as it hovers in your field of vision, blocking out the sunlight like an alien spaceship from Independence Day.
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It may be a sacred EV, but try explaining that to me the next time Extinction Rebellion sticks to the M25 or its tires fall off. Mercedes’ Ambition 2039 aims to be completely CO2 neutral by that year, including decarbonizing its supplier network and controlling its cobalt mines, and the EQXX concept shows that lighter batteries and their numerous benefits are just around the corner.
So far, the focus has been on electric mobility, intelligent resource conservation, and the introduction of a circular economy. The EQS SUV also outperforms key competitors such as the Bentley Bentayga and Range Rover, which are still a long way from full electrification.
There are two versions in the UK. The EQS 450 4Matic averages 2.5 to 3.1 mi/kWh (equivalent to 355 bhp and 590 lb ft of torque) and/or the EQS 580 4Matic over a range of 364 miles. With an output of 536 horsepower and 632 lb ft, overall efficiency suffers only slightly. These are supposed characters, spirits and we all know what the difference is in the real world.
4Matic cars are dual engines and four-wheel drive. Electric motors are permanently excited synchronous, which means they have higher power density, higher efficiency, and higher power constancy. The motor on the rear axle is a six-stage design (the SUV 450+, not the British EQS, is a single-motor setup), and there’s all kinds of thermal cleverness in the battery cooling circuit.
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The SUV uses the same lithium-ion battery pack (developed in-house) as the EQS sedan. The total capacity is considerable at 108.4 kWh, and it is fully contained in the floor fan. It is built into a structure with extruded aluminum profiles on the sides and is located in the anti-collision area of the undercarriage.
Mercedes claims the EQS has the lowest center of gravity of any SUV, but the dynamic advantages it may have certainly outweigh the overall pork chops. The battery can be charged up to 200kW using a DC fast charger, and theoretically can be charged from 10 to 80% in 31 minutes. There are a variety of intelligent charging modes, including one to preserve battery life, and bi-directional charging is available in Japan and other regions.
Packing the third row of seats is a challenge (see what happens when the Land Rover Defender is configured that way). The surface is strong, the overall shape is smooth, and shutlines and seams are all minimized. It is also very aerodynamically efficient. The drag coefficient is only 0.26 (in the cleanest configuration).
As with other EQ cars, the main difference is in the front. This means that the (fixed) clamshell bonnet is much shorter and steeper than what we are used to. The black EQ panel grille also comes with 3D hexagon lights that work in conjunction with the daytime running lights to create a unique signature. Mercedes’ designers would love to provide a perfectly smooth transition to the windshield, but you get the feeling it wouldn’t work in the real world. There are too many reflections. But the smart A-pillar: the design improves aerodynamics and noise.
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The roof is black to reduce height perception, the mirrors are located on the shoulders of the car rather than on the doors themselves for aero and acoustic reasons, and the EQS has a glass frame (unlike the EQS/E’s frameless). The door handles are flush and there are optional step stools to help little ones climb if you don’t have a ladder.
Overall, this has been cleverly done without challenging the Range Rover, which is a massive piece of modern mobile technology, and it would be crazy to choose rims less than 22 inches for fear of getting lost on the side of the slab. However, we think the smaller EQE SUV has better proportions.
“The full-size EQS SUV will undoubtedly suit most of our target customers… but it falls short for us.”
It’s hard to think of a vehicle more complete, more absolutely state-of-the-art, and much more than a luxury off-roader. Objectively speaking, the EQS SUV does it all, including unexpected off-road capabilities. Its refinement is world-class, the technical specifications are impeccable, and the onboard experience is as good as it gets (if silence doesn’t cause motion sickness).
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Do you think someone else is coming? maybe. The EQS SUV lacks the character and over-the-top authority that makes the Range Rover such a beacon, reinforcing suspicions that as electric vehicles become more sophisticated, they don’t really look like cars. The EQS full-size SUV will undoubtedly fit most of its target audience, but if you’re not part of that target audience, it won’t grab our attention.
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