Why is the Toyota bZ4X Depreciation Significant Experiencing?

By Dinesh Bajaj

Updated on:

Toyota bZ4X Depreciation and Subaru are known for making cars that hold their value well in the regular car market. Similarly, Lexus cars tend to keep their value better than those from luxury brands like Mercedes-Benz, BMW, and Audi. However, when it comes to their early attempts at electric vehicles (EVs), the trend is different.

Key Points to Consider:

  1. Expect the Toyota bZ4X to gradually lose value, offsetting higher insurance costs with overall savings.
  2. The bZ4X is likely to keep around 57-60% of its value after three years, a strong figure compared to other electric SUVs.
  3. Toyota’s impressive warranty lasts 10 years or 100,000 miles, showing the SUV’s durability.
  4. Regular servicing follows standard schedules and helps keep the warranty valid and the vehicle valuable.
  5. Consider the low operating costs of an electric vehicle, which boost the bZ4X’s overall appeal.
1. CrossoversToyota and Subaru’s entry into the EV market
2. Miss the markFall short in various aspects
3. Rapid depreciationUsed models lose value quickly, unlike other vehicles from these brands
4. Electric carsGenerally experience higher depreciation rates
5. Uncompetitive modelsResult in quick depreciation
6. Bargain used carConsideration as an option, but caution advised
7. Uncertain futureUnknown extent of further depreciation
8. Value retentionRisk of ending up with a significantly devalued vehicle

The Toyota bZ4X Depreciation Subaru Solterra, and Lexus RZ, despite having strong brand reputations, lose value differently compared to their regular gas-powered versions. Priced around $40,000, similar to competitors like the Kia EV6, Ford Mustang Mach-E, and Tesla Model Y, these EVs lose value quickly when sold as used cars.

Interestingly, used Toyota bZ4X Depreciation and Solterras can be found for around $30,000, often with just a few thousand or even a few hundred miles on them. This gives smart buyers a chance to get almost-new cars at a big discount from the original price.

Many cheaper cars are available on TrueCar. For example, a 2023 bZ4X Limited, originally sold for $50,130, is now listed for $32,673 with 5,000 miles on it. That’s a decrease of 34.8% despite being used for only eight months. Similarly, the 2023 Lexus RZ450e Luxury, which had an initial price of $65,150, is now struggling in the used market. With 5,000 miles and sitting on the lot for 90 days, it’s now tagged at $43,995, complete with a comprehensive CPO warranty. This represents a 32.5% decrease from its original price.

FactorInfluence on Toyota bZ4X Resale Value
Toyota ‘Relax’ WarrantyEnhances long-term reliability, boosting resale value significantly.
Market PerceptionA trusted brand and model ensure strong demand, diminishing depreciation impact.
Exemptions from Taxes and ChargesCost-saving benefits make the bZ4X more attractive to future buyers.

Toyota bZ4X Depreciation And EVs: The History

Toyota bZ4X Depreciation is known for making great hybrid vehicles. They started with the Prius in the late 1990s, which was a big success. Now, they offer 12 hybrids and two plug-in hybrids in the United States, while Lexus offers seven hybrids and three plug-in hybrids. So, there are a lot of options for hybrid buyers from Toyota and Lexus, ranging from sports cars to minivans. However, their journey with electric vehicles (EVs) has been different.

Also Read : Scout Motors’ Electric Trucks Will Have Real Buttons 2024

Toyota sold their first EV in the U.S. in 1997, called the RAV4 EV. It was only sold in California to meet regulations. They sold 1,484 units before ending the program in 2003. In 2012, Toyota partnered with Tesla to make a new RAV4 EV, but they stopped making it in 2014. Toyota hasn’t had a consistent presence in the EV market.

Toyota bZ4X Ownership FactorAnnual Impact on CostsImplication for Resale Value
Insurance Group Rating36-40Higher premiums may necessitate careful budgeting.
Warranty Coverage10 years/100,000 milesExtended protection reinforces resale desirability.
Recommended Service Interval1 year/18,000 milesRegular servicing upholds warranty and reliability.
Annual Company Car Tax (CC cost)From £184/£368Lower operational expenses elevate ownership appeal.

The Toyota bZ4X And Friends

Toyota unveiled its first dedicated electric vehicle, the bZ4X, in 2021, and deliveries began the following year. It shares its platform with the Subaru Solterra and Lexus RZ, which are in a similar price range. Starting at $44,420, the bZ4X comes with front-wheel drive as standard. It has two battery pack options and offers a choice between a single-motor setup producing 201 horsepower or a dual-motor configuration with 215 horsepower. The vehicle provides an EPA range of between 222 and 252 miles and supports up to 150 kilowatts of DC power.

2024 Subaru Solterra: Starting at $46,340

  • 215 horsepower
  • 222 to 228-mile range
  • 150kW charging

2024 Subaru Solterra: Starting at $46,340

  • 215 horsepower
  • 222 to 228-mile range
  • 150kW charging

2024 Toyota bZ4X Depreciation : Starting at $44,420

  • 201 horsepower
  • 222 to 252-mile range
  • 150kW charging

These specifications aren’t impressive. Last year’s Solterra and bZ4X models only had 100kW DC fast charging. In a real-world test by Out Of Spec Studios, the 2023 bZ4X AWD didn’t do well. It reached a max charge rate of 88 kW and took over four hours to reach 99% charge. So, the bZ4X isn’t great for long trips.

The Lexus RZ450e has a 196-mile range, but a test at 70 mph showed just 172 miles. Some other EVs, like certain Tesla models, also fall short in real-world range. In a test of the 2020 Tesla Model Y, we saw 276 miles compared to the EPA rating of 316 miles. While the Model Y’s real-world range of 276 miles is lower, it’s still good for long trips. But a car with only 172 miles of range may not be enough for some buyers. Overall, the e-TNGA EVs offer below-average range and charging, especially considering their prices compared to other electric crossovers.

2024 Kia EV6 Long Range: Starting at $47,325 ($42,325 with Kia incentive)

  • 225 to 576 horsepower
  • 218 to 310-mile range
  • 235kW charging

2024 Cadillac Lyriq: Starting at $58,590 ($51,090 with Cadillac incentive)

  • 340 to 500 horsepower
  • 307 to 314-mile range
  • 190kW charging

2024 Tesla Model Y: Starting at $44,630 ($37,130 with tax credit)

  • 258 to 456 horsepower
  • 260 to 310-mile range
  • 170 to 250kW charging

The Ultimate Depreciation Machine

Let’s discuss the Toyota RAV4 Prime, a plug-in hybrid version of the popular Toyota RAV4. It debuted as a 2021 model with a starting price of $39,220 (now $45,040). These vehicles have proven to hold their value quite well. The cheapest example with fewer than 50,000 miles in the country is a 2021 model listed for $32,273 with 44,000 miles, representing a depreciation of 17.7% over two years. In comparison, the Toyota bZ4X Depreciation we mentioned earlier depreciated by 34.8% in just eight months.

Electric SUV ModelInsurance GroupResale Value Retention (3 Years)Warranty Coverage
Toyota bZ4X36-4057-60%10 years/100,000 miles
Volkswagen ID.4Below 57-60%8 years/100,000 miles
Tesla Model YAbove 57-60%4 years/50,000 miles

The Lexus NX450h+ plug-in hybrid also shows low depreciation. The least expensive 2023 model is priced at $55,988 with 16,000 miles, down from its original price tag of $62,075, indicating a depreciation of around 9.8% in 11 months. In contrast, the RZ450e depreciated by 32.5% in 7 months with 11,000 fewer miles. While it’s challenging to find models with exactly the same mileage and age, it’s evident that these EVs aren’t holding their value as well.

Robby DeGraff from the automotive consulting firm AutoPacific expressed concern about buyer sentiment towards EVs and the perceived value of e-TNGA vehicles. Most potential buyers of electric cars are likely considering well-known brands like Tesla, Hyundai, and Kia, rather than Toyota, Lexus, and Subaru.

DeGraff also noted that Toyota bZ4X Depreciation association with hybrids might overshadow its efforts in the EV market, as indicated by a survey showing higher intention among future Toyota buyers to purchase regular ICE or hybrid vehicles compared to EVs.

Furthermore, the used car market currently has more hybrids and plug-in hybrids available than EVs, leading to higher consumer confidence and better value retention for these vehicles.

While EVs generally depreciate more rapidly, the e-TNGA EVs face additional challenges such as slow charging times, limited range, and mediocre performance, which further impact their value proposition. According to Doug DeMuro, founder of Cars & Bids, the value of these vehicles may decrease significantly in the coming years due to advancing technology and perceived shortcomings.

Verdict: Time To Buy A Used One?

StrategyBenefitImpact on Depreciation
Meticulous MaintenanceEnsures functional longevity and reliabilitySlows depreciation by underscoring vehicle care and dependability
Extended Warranty UtilizationOffers reassurance to future ownersEnhances resale value by providing longer-term security
Preservation of Vehicle ConditionKeeps the car looking and working like newReduces the rate of value loss by maintaining appeal
Limiting MileageReduces wear on vehicle componentsPreserves higher value by minimizing the perception of overuse

These crossovers are Toyota bZ4X Depreciation and Subaru’s first attempt at electric vehicles, but they’re not doing well. Used ones are losing value fast, which is unusual for these brands. Electric cars usually lose value quickly, so it’s not surprising these less competitive models are depreciating rapidly. Before buying one as a cheap used car, remember we don’t know how much more their prices will drop. You don’t want to end up with a car that’s worth much less than what you paid. CLICK HERE

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Dinesh Bajaj

My name is Dinesh and I have been blogging on electronicsscars.com for 2 years. I write blog about electronics car here. I have also worked in garage for 6 months. This blog of mine is my world, where I share with you the advantages and disadvantages of car blog.

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