Governments across the world are busy encouraging people to buy electric vehicles (EVs) as countries try to meet climate targets. In some places, customers have been given incentives to buy EVs, making them cheaper than oil-powered cars at the showroom. But drivers have been wondering whether new EVs will hold their value over time. It's a topic that has received a lot of attention online. A number of different sites report that in many markets the prices of secondhand EVs are depreciating faster than the prices of oil-powered cars. Depreciation is to be expected with all vehicles. As soon as a new car is driven away from the showroom, it loses some of its value. But aging EVs are a little different to aging oil-powered cars — they come with a unique set of challenges. In the first half of 2023, Car Dealer magazine reported that 29 of the top 30 biggest depreciating used cars were EVs. The EV market is growing all the time, and while a few years ago there was not enough supply to meet customer demand, that's no longer the case. Previously, customers looking for an EV might have settled for a used vehicle, but they don't have to anymore. New models may also promise newer battery technology or longer battery life, causing people to choose a new vehicle over an older one. Perhaps they are also encouraged by those generous government incentives to buy new. But it might not be all bad news for EV owners who are looking to sell their used vehicles. Writing for Euronews, Geraldine Herbert argues that increased public confidence in EVs will help slow depreciation rates, because people will feel more comfortable buying older vehicles. In the next few years, the EV market will keep growing as countries end sales of new oil-powered cars, and according to Herbert this means that more EVs will keep more of their value over time.