After crunching the numbers of over 13.5 million used car sales between July 2021 and 2022, iSeeCars compared how EV and gas powered used car prices have fluctuated. They looked at prices for particular models, too. Here's what they found.

Key Takeaways

• Overall used car prices are slowly coming down after previous highs due to chip shortages, but over the same 12 months, EV prices rose.

• In July 2022, EV prices were up 54.3 percent year-over-year — much higher than the 10.1 percent rise in gas-powered cars.

• The Nissan LEAF saw a 45 percent Y-O-Y price increase, the highest among EV models, whereas the prices for a used Tesla Model S and X both went up by at least $14,500.

More and more affordable new electric vehicles are entering the market, which means that used EVs won’t be as much of a novelty, especially once supply chain issues begin to improve. While prospective used car buyers will see steep price increases for EVs in the short term, it’s important to be patient because used EV prices are expected to decline in the coming months.

[iSeeCars Executive Analyst Karl Brauer]

Via iSeeCars.

[Photo by Jenny Ueberberg on Unsplash]