19 September 2024
Schwacke and Auto Bild have revealed the 2024 Wertmeister (residual-value champions) of the German automotive market. Autovista24 editor Tom Geggus outlines this year’s results.
A total of almost 10,000 vehicle types underwent meticulous scrutiny to find 2024’s residual value (RV) champions in Germany. This year, the awards covered 15 different vehicle segments, including four dedicated electric vehicle (EV) categories.
Schwacke experts analysed several hundred factors and parameters to create a precise RV forecast. This included powertrains, equipment versions and common optional extras. Forecasts covered the percentage of new-car list price a vehicle can be expected to retain after four years and an average segment mileage.
The wertmeister winners
In 2022 and 2023, Mercedes-Benz models lost the smallest value across all award categories. However, 2024 saw the German marquee beaten by a model from Korea. The vehicle with the most stable level of value retention across all categories was the 1.2-litre Kia Picanto. It was forecast to retain 69.3% of its new-car list price value after four years.
The Picanto was also the vehicle with the lowest absolute RV depreciation. After the Kia Rio secured this position last year, the carmaker once again had the vehicle with the lowest RV decline for the second year in a row. In the executive and luxury segments, German brands kept their lead from previous years. BMW, Mercedes-Benz and Porsche dominated these two categories.
New electric categories
EVs first joined the race for the title of residual value champion in 2015. Nine years later, there are now four established EV value champions divided by vehicle segment. This expansion follows the industry’s ongoing transition towards plug-ins, with an ever-increasing range of electric models on offer.
The shift towards new powertrains and technologies is also creating some uncertainty. Plug-in RVs have been impacted in major European markets, including Germany. This trend was considered when determining this year’s value champion.
Adding new categories given the current market situation and providing more transparency around EV residual values was an obvious choice. ‘There have never been so many classes at the Wertmeister as this year,’ explained Thorsten Barg, managing director of Schwacke.
‘The range of EVs on offer is constantly growing and naturally, we are taking this into account. The Wertmeister 2024 also shows that many electric vehicles are much better than their reputation in terms of value retention. Nevertheless, their combustion-engine counterparts still have the better residual value performance in the respective segments,’ Barg explained.
Diverse EV categories
The range of brands in the EV segment is diverse. The Citroen e-C3 Aircross took the first title in the category of ‘compact electric SUVs’. The new Ford Explorer (dual-motor extended range AWD 79kWh) was victorious among ‘lower-medium electric SUVs’.
Next, the Polestar 2 (single motor 70kWh) conquered the ‘medium electric SUVs’ title. Finally, the Volvo EX90 (twin motor AWD) retained the most value in the ‘full-size electric SUVs’ category.
The Citroen e-C3 Aircross had a clear lead across the EV segments with a value retention rate of 61.3%. All other models in the respective top three categories impressed with a very respectable residual value of 56% on average after four years.
A valuable award
Residual value holds huge relevance across the automotive industry. A vehicle’s price on the used-car market is dictated by its capacity to retain value. For private customers, this is a decisive factor when it comes to buying a new car.
In the leasing and finance sector, RVs have a significant influence on leasing rates. For vehicle manufacturers, stable values can make a significant contribution to the success of a new model. So, if a model can claim the title of ‘value champion’, this is a high accolade.
