Used EV Prices Rise Much Faster Than for ICE Vehicles – Auto Rental News Magazine

If you’re selling a used electric vehicle, the price likely will exceed that of a used gasoline-powered car by large amounts.

The demand for EVs amid rising gas prices and supply chain constraints has bumped used EVs from price depreciation to appreciation. In July, electric car prices saw an increase of 54.3% from the same month last year while gas-powered cars were up just 10.1%, according to a recent iseecars.com study.

Analyzing Used EV Prices

iSeeCars.com —an online search engine for new and used vehicle shoppers that provides trend data — analyzed over 13.8 million 1–5-year-old used car sales between January and July of 2021 and 2022. The average price of each model was calculated monthly in 2022 and compared to the average price of the same model from a year before. The study includes a chart and analysis of price increases by month for EVs vs. ICE vehicles as well as a month-by-month pricing analysis for hybrids.

“Until recently, mainstream electric vehicles typically…

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