Used EV prices are rising sharply in the US even as the broader used-car market softens, with Tesla models posting some of the biggest gains and the Porsche 911 dropping 10% in value.
The core trend
Used EV prices have now posted three straight months of year-over-year gains - 2.7% in April, 5.2% in May, and 7.4% in June - pushing the average price of a 1–5 year-old used EV to $33,305 in June, up $2,308 from a year earlier. Meanwhile, the average used vehicle overall actually fell 1.3% year-over-year, so EVs are moving sharply against the grain of the broader market.
Why it's happening
iSeeCars' Karl Brauer points to rising fuel costs as a likely trigger - gas prices spiked during the Iran conflict earlier this year, and it took a few weeks for buyers to shift back toward EVs as a result.
Tesla led the surge
All four core Tesla models landed in the top 10 for biggest price increases: the Model X jumped 17.5% to $60,950 (the largest gain of any used vehicle), the Model 3 rose 13.5%, the Model S climbed 13.1%, and the Model Y gained 12.0%.
And the flip side - the 911 headline
Not a single EV appeared among the 20 biggest price decliners; that list was dominated by luxury cars, trucks, SUVs, hybrids, and gas models instead. The Lincoln Corsair hybrid posted the steepest drop at -14.7%, with the Porsche 911 close behind at -10.6% - a roughly $14,000 drop to an average of $118,025 - which is the "silver lining" the headline is playing off of, for anyone hoping to buy a used 911 for less.
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-Paul