One Place News
A strange thing is happening in the used EV market. Supply is up thanks to an ever-increasing stream of ex-lease cars reaching the market, and yet prices have been going up as well. As a result of America’s latest war in the Middle East, used EVs have appreciated by just over 5 percent since February. Despite the stronger pricing, used EV sales have been strong this year—up 25 percent year over year by May, although a weaker June has brought overall sales up just over 20 percent year over year, according to the analysts at Cox Automotive.
Used EVs also hang around on dealer lots a lot less than new ones—the same analysts at Cox found just 38 days’ supply of used EVs in June, but 81 days for new EVs. And much of the demand is at the cheaper end of the spectrum, say the analysts at Recurrent. In previous installments of our used EV buyers’ guide, we’ve already looked at the most affordable used EVs, ending last time at $25,000—EVs that may now qualify for a $1,750 rebate if you’re in California. Today we’re looking at used EVs that cost between $25,000 and $30,000, and according to Autotrader’s search, there are more than 9,000 used EVs for sale in that price range.
Broadly, you can split the results into three buckets: Cars where you’ll find plenty to choose from; ones where there might be a couple of hundred for sale nationwide; and then the oddities where there might just be a handful to pick from.
