$50,000 Gone In A Year? The Dodge Charger EV Is Losing Value Fast

A 2024 Dodge Charger Daytona Scat Pack EV purchased by Edmunds for about $82,000 before taxes and fees was later resold for roughly $35,000 after just one year and fewer than 7,000 miles, marking a nearly $50,000 loss in value. The steep depreciation underscores broader concerns about EV resale values, particularly for high-end electric performance vehicles. During Edmunds’ year-long test, reviewers documented multiple software and mechanical issues, including infotainment system failures, inconsistent regenerative braking, and unexpected acceleration behavior. One incident involved unintended acceleration, later attributed to Dodge’s ‘Drive by Brake’ safety feature, while another left the car stuck in accessory mode, draining its 12-volt battery. The Charger Daytona EV received mixed feedback, with critics praising its aggressive styling and exceeding its EPA-estimated range of 216 miles by achieving 255 miles in testing. However, reviewers described the car as inconsistent, buggy, and awkward to drive, with one calling it ‘boring’—a harsh verdict for a modern muscle car. The vehicle’s rapid depreciation aligns with industry trends showing EVs losing value faster than internal combustion engine (ICE) models due to rapid tech advancements, manufacturer incentives, and fluctuating demand. Dodge faces challenges in transitioning its iconic muscle car brand to the electric era amid these market and performance hurdles. While the Charger Daytona’s hatchback design earned praise for practicality, the accumulation of small but persistent issues frustrated reviewers throughout the test. The resale decline further highlights the risks for buyers investing in high-priced electric performance vehicles with unresolved reliability concerns.