For consumers looking to purchase used EVs, this trend translates to good news. Prices have hit their lowest point since the beginning of 2021, with the average price of a used EV in the U.S. now standing at $27,800, marking a substantial 32 percent year-over-year drop. Tesla has significantly influenced this trend, with the average price of a used Tesla Model 3 decreasing by more than $9,000 since 2021.
Several factors have contributed to the growth of used EV sales. Over the past three years, the used EV inventory has tripled, rising from 11,000 vehicles in April 2021 to over 33,000 today. A notable 73 percent of this inventory consists of pure EVs, while the rest are plug-in hybrids.
