Used EV prices rose sharply in the US while overall used market softened. Tesla models dominated price increases but 911 values dropped by 10 %. Higher fuel costs due to Iran war may have pushed shoppers back to EVs. For the past few years, buying a used EV has been a waiting game, with would-be buyers often waiting for prices to fall a little further. That strategy may no longer be paying off. Used electric vehicle prices are climbing rapidly while the rest of the used car market continues to drift in the opposite direction, making dream cars like the Porsche 911 more affordable. New data from iSeeCars suggests the turnaround isn’t a one-month anomaly, either. Used EV prices have now posted three straight months of year-over-year gains, moving from a 2.7 percent increase in April to 5.2 percent in May before reaching 7.4 percent in June. Related: This Is How Much A 17K-Mile EV From A Dead Brand Sells For After 3 Years That pushed the average price of a one- to five-year-old used EV to $33,305 in June. Compared with the same month last year, that’s an increase of $2,308. Meanwhile, the average used vehicle price fell by 1.3 percent year over year, highlighting just how differently the EV segment is behaving. Rising fuel costs may have helped trigger the shift, iSeeCars Executive Analyst Karl Brauer logically suggests. Gasoline prices rose sharply during the Iran conflict earlier this year, but it took several weeks before buyers adjusted their shopping habits and begin gravitating back toward EVs. Average 1-5 YO EV Prices Tesla was the biggest beneficiary of the trend. All four of the brand’s core models landed among the 10 used vehicles with the largest year-over-year price increases. The Model X led the entire market, jumping 17.5 percent to an average price of $60,950. The Model 3 wasn’t far behind with a 13.5 percent increase, while the Model S climbed 13.1 percent and the Model Y gained 12.0 percent. “Tesla makes up nearly half of the top 10 used models with the highest price increase,” Brauer noted. Perhaps just as telling is what didn’t appear in the rankings. Not a single EV showed up among the 20 used vehicles with the steepest price declines. Instead, that list was populated by a mix of luxury vehicles, pickups, SUVs, hybrids, and conventional gasoline-powered models. The Lincoln Corsair posted the biggest percentage value drop (-14.7 %), but the Porsche 911 was right behind it (-10.6 %), and reminds us that there’s a silver lining to every cloud. Used Cars With The Biggest Price Increases RankModelAvg Price$ Diff YoY% Diff YoY1Tesla Model X$60,950$9,06617.5%2BMW X2$33,956$5,03517.4%3MINI Countryman$30,535$4,23116.1%4Ford Mustang (convertible)$32,524$4,02514.1%5Tesla Model 3$28,520$3,38813.5%6Alfa Romeo Giulia$30,320$3,59113.4%7Tesla Model S$52,787$6,11613.1%8Honda Pilot$37,301$4,17212.6%9Tesla Model Y$32,916$3,52912.0%10Lexus ES 300h$43,057$4,36511.3%11INFINITI QX80$48,756$4,87111.1%12Lexus ES 350$41,289$4,10211.0%13Hyundai Santa Fe Hybrid$33,619$3,25510.7%14Cadillac CT5$36,613$3,47910.5%15MINI Hardtop 2 Door$27,428$2,58710.4%16Acura TLX$35,470$2,9299.0%17Porsche Taycan$85,147$6,9478.9%18Nissan Murano$27,917$2,2128.6%19Nissan Armada$40,513$3,1578.5%20Lexus IS 300$36,421$2,7468.2%OverallAverage$32,395-$412-1.3% SWIPE Used Cars With The Biggest Price Drops RankModelAvg Price$ Diff YoY% Diff YoY1Lincoln Corsair (hybrid)$37,312-$6,454-14.7%2Porsche 911$118,025-$14,063-10.6%3Audi Q5 (hybrid)$36,890-$3,012-7.5%4Mercedes-Benz G-Class$127,727-$9,927-7.2%5Audi A5 Sportback$33,495-$2,495-6.9%6Ford Bronco$45,341-$2,763-5.7%7Buick Encore GX$21,038-$1,116-5.0%8Ford F-150 (hybrid)$46,201-$2,299-4.7%9GMC Sierra 1500$45,426-$2,222-4.7%10Nissan Rogue$22,401-$1,093-4.7%11Audi A6$34,872-$1,700-4.6%12Genesis GV80$44,892-$1,990-4.2%13Mercedes-Benz GLB$30,863-$1,355-4.2%14Jeep Wrangler$36,067-$1,479-3.9%15Volkswagen Atlas$30,149-$1,044-3.3%16Audi Q5 Sportback$37,189-$1,276-3.3%17Chevrolet Blazer$26,706-$878-3.2%18Ford Explorer Hybrid$29,979-$981-3.2%19Chevrolet Malibu$18,619-$590-3.1%20Mercedes-Benz S-Class$77,349-$2,371-3.0%OverallAverage$32,395-$412-1.3% SWIPE iSeeCars
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