Last week we checked out July's used cars prices and which used cars were seeing the most and least price increases over a year ago. This week we share more info from iSeeCars.com that digs deeper into electric vehicle used car prices. According to iSeeCars says even though used car prices are beginning to level off in the second half of the year, used electric vehicle prices continue to increase significantly. Its analysts say in July, electric car prices jumped 54.3% from the same month last year. Compare that to gas-powered cars which increased 10.1%. iSeeCars attributes the rise in EV used car prices to several factors: soaring gas prices, improvements in charging infrastructure, and like with many vehicles, a lack of inventory.
EV Used Car Prices
In its latest analysis iSeeCars analyzed the prices of over 13.8 million 1-5 year old used cars sold between January and July of 2021 and 2022 to determine the price growth of electric cars compared to conventional fuel vehicles. Here's what they found:
|Monthly 2022 vs. 2021 Year-Over-Year Average Price Comparisons: Conventional Fuel Vehicles Vs. EVs|
|Y-o-Y % Change, Conventional Fuel Vehicles||Y-o-Y % Change, EVs|
Now here's look at which electric vehicles had the highest price increase in July 2022 compared to 2021. The Nissan LEAF tops the list followed by the Chevrolet Bolt.
Electric Vehicle Year-over-year Price Increase By Model, July 2022 vs. 2021
|Rank||Electric Vehicle||% Y-o-Y Price Increase||$ Y-o-Y Price Increase||Average Used Car Price|
|2||Chevrolet Bolt EV||29.3%||$6,417||$28,291|
|3||Tesla Model S||27.5%||$17,906||$83,078|
|4||Tesla Model X||19.7%||$14,863||$90,484|
|5||Tesla Model 3||16.2%||$7,781||$55,766|
|6||Kia Niro EV||15.7%||$5,124||$37,732|
|7||Tesla Model Y||13.6%||$8,381||$70,065|
For more details on the iSeeCars study, and for a month by month pricing analysis for hybrids, visit the iSeeCars.com website.
To check out our CarPro Electric/Hybrid reviews click here →