Used EV Prices are Now Going Up in America (cnbc.com)
- Reference: 0184798188
- News link: https://tech.slashdot.org/story/26/08/01/0710210/used-ev-prices-are-now-going-up-in-america
- Source link: https://www.cnbc.com/2026/07/31/used-ev-prices.html
> The trend continued into the second half of the year: Prices are up 7% year to date through mid-July, it said. Recurrent compared EVs according to the same make and model year across 108 combinations and weighted price growth according to inventory volume. "Used EVs are appreciating, which almost never happens," according to an e-mailed Recurrent statement about the analysis. Other auto analysts found a similar trend...
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> Price growth for used EVs has been broad-based, said Stephanie Valdez Streaty, the director of industry insights at Cox Automotive, a market research firm. Twenty-one of the 25 used EV models with the highest sales volume increased in price between January and June this year, she said... [T]he price growth for used EVs this year has been all the more surprising because it has happened despite a high supply of used EVs hitting the market — which, all else being equal, would generally cause prices to fall, experts said...
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> There are several factors juicing consumer demand for used EVs, experts said. Among them are [3]high gasoline prices due to the Iran war , which have pushed more consumers to consider fuel-efficient options, experts said... Overall affordability is another big factor, against a backdrop of inflation that has remained above policymakers' target of 2% for five or so years, auto experts said. The dynamic has [4]pushed more consumers toward the used car market more broadly.
Two interesting statistics [5]from the article :
"Used EV sales were up 20% in June versus a year earlier, while sales of new EVs were down about 28%, according to Cox Automotive data."
New EVs accounted for 5.4% of total new-vehicle sales in June, while the market share for used EVs was just 2.4%, according to Cox Automotive data.
[1] https://www.cnbc.com/2026/07/31/used-ev-prices.html
[2] https://www.recurrentauto.com/research/used-electric-vehicle-buying-report
[3] https://www.cnbc.com/2026/07/14/inflation-cpi-june-2026-in-one-chart.html
[4] https://www.cnbc.com/2026/04/07/used-car-prices.html
[5] https://www.cnbc.com/2026/07/31/used-ev-prices.html
Yes sales are down for new vehicles (Score:1)
So there is less inventory hitting the market. This is been a consistent problem with the car market for some time. Our entire transportation network is built around cheap affordable automobiles. Better off people sell their cars and then struggling people can buy them for cheap. I'm pretty damn sure people around here are old enough to remember driving a beater that cost you a summers worth of minimum wage pay throughout your entire College life.
You can't do that anymore. A buddy of mine who has much b
Re: (Score:3)
There is not some fixed sum of wealth in the world. When boomers spend money on healthcare, it doesn’t burn up like smoke. It goes to pay employees and buy wound dressings from companies that make profits and pays stockholders and enriches fatcat bosses, etc — in other words, the money is still there, still in circulation. Does it accrue unequaly and do I consider that a moral and strategic problem? Yes! But it doesn’t disappear.
And you’ll have to work quite hard to convince me that
It's consumption not wealth (Score:2)
> There is not some fixed sum of wealth in the world. When boomers spend money on healthcare, it doesn’t burn up like smoke. It goes to pay employees....
When boomers spend money on healthcare that consumption does go up in smoke. It is a one time consumption and it is a consumption that is redirected away from younger people. The entire point of our economy is to provide consumption - housing, healthcare, food, entertainment... The Elon Musks of the world aren't consuming all the housing, they don't eat more than you and I, they have the same cell phone as you and I. In fact if, Musk can't possibly spend a penny more than he currently does on himself, his m
Re:It's consumption not wealth (Score:4, Insightful)
Let me think, where did I leave my jet? oops don't have one. Where did I leave my yacht that won't fit in most harbors, so I need a second one as a shuttle? Oops don't have either. The Bezos's and Musk's ARE consuming way more than the average schlump. Just exactly how much Jet fuel & diesel(for the yacht) do you burn in a day? And nobody moved a bridge out of the way to deliver anything to me ever, and never will.
Now to your other point, who exactly do you think is in health care? Nurses, Doctors, admitting people, staff. Most of them are under 55. So the over 55's and mainly over 75's are paying younger people for services. Sort of like when Bezos crew of 40 on his primary boat and the extra 20 on the support boat. I imagine all are younger than he. The main difference is very very very few of those over 75's are burning up wads of fuel that do go up in smoke in a single voyage around the harbor or a little jet trip around the world this evening.
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One person’s purchase is another person’s sale. That’s the fundamental point you appear not to be grasping. When an elderly boomer buys personal care, they are paying a provider which includes employees who get some of the money. I don’t know how this can be hard for you to understand.
The Musk thing is just weird. You rightly say he can’t spend all the money he has. You then just bizarrely and naively think he’s somehow using the money he is not taxed on to “spend
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Ideally, you want that money circulating in the local economy as long as possible. For example, by paying a bus driver to get you from A to B instead of driving an imported car fueled with imported gasoline.
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Yup
Yeah there is a fixed sum (Score:2)
Because we are locking up trillions of dollars of money for use by about 2,000 or 3,000 people. We have levels of wealth inequality that are worse than the gilded age right before the Great depression.
You're mixing up should and is. This is a common mistake people make.
There should be plenty of money. There isn't. Because a very tiny handful of people have taken it all for themselves and are grinding civilization to a halt. Money is no longer properly circulating in the economy because so much of it
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> There should be plenty of money. There isn't. Because a very tiny handful of people have taken it all for themselves
Evidently, you learned economics from [1]Saturday morning cartoons [pinimg.com].
[1] https://i.pinimg.com/originals/3b/14/5d/3b145d178d52bf196f8a34cab35dcbe8.jpg
Re: Yes sales are down for new vehicles (Score:1)
Free cars in the CCCP? Where did you hear such nonsense. Whether a Moskvitch or a Lada, there were years long waiting lists for people to buy them.
Used EVs will provide rich pickings for some years (Score:2)
This article is largely about short-term noise. But in the medium term, most buyers of second hand vehicles are going to under-value used EVs, for two core reasons:
1. EVs are being thought of like consumer tech eg phones and computers, with new generations superseding old generations and offering substantial improvement each time (it was for exactly this reason that I have always bought my (new) EVs on finance, so I could upgrade easily
2. People assume EVs deteriorate in the same way as ICE vehicles and thu
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Yet I've heard ... if you drive an EV cross-country maxing out amperage day-after-day after 4 weeks the battery will simply burst into flames. Is this the modern "hot"rod ? /sarc
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> What that means is that a canny buyer could be a 2027 300 mile nearly new
Who gets rid of a vehicle with 300 miles on it?
Someone who has fallen on tough financial times. Rare.
Someone who bought said EV new and rapidly discovered that this one is a lemon.
Someone who bought said EV new and rapidly discovered that this model, or it's support infrastructure is not as advertised*.
*New cars in general and perhaps EVs specifically can go from great vehicles to dogs rapidly if their manufacturer changes policy and uploads new firmware. Enjoy paying rent for your previously standard
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300 mile *range*, you doofus
I discussed 300 miles range EV in literally the preceding paragraph at some length. You just needed to remember the context from one paragraph to the next
No subsidy. (Score:4, Interesting)
Before September 2025, the government was throwing in $7,500, and maybe your state government was kicking in a few thousand extra, and then the local utility maybe was subsidizing your charger. So your $45k Tesla was effectively selling for $35k. Of course nobody is going to buy a used Tesla for $33k when a new one is selling for $35k, but the depreciation was still being taken as if a $45k vehicle was selling for cheap. What we're seeing isn't as much a change in demand for EVs, as much as seeing that removing government subsidies has normalized the used car market.
I remember buying an egolf back in 2015, I paid like $21k after subsidies. This was a good price, but that basic value held true for a number of years. Used price was great, for many years I could have sold it for $15k+, and it even went over $21k during 2022 due to supply side issues. But articles talking about used value mentioned that the egolf used value had tanked, going for $37k to $18k. But really that was a 10% drop, because if it went down a normal 30% or whatever you'd literally be buying a used car for more than you would spend on a new one!
The numbers are often taken from sticker price (the article itself doesn't discuss how it got its numbers). But of course many cars sell for under sticker price...or in 2022, during supply chain shortages, were actually selling for $5,000 above sticker price. Now that we're mostly over the supply chain issues, these cars are going to see an additional $5,000 drop in used value. But it seems statistically unuseful to account for a one-time extraordinary industry issue.
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Ultimately the Tesla 3 or Y cost less than median value new car, Nissan Leafs are cheaper than that, and compliance cars like the eGolf or the eFiat 500 were (once you consider the lower maintenance/fueling) the cheapest new cars you could buy.
Electric cars are the future, whether that happens in 5 years or 20. I think the subsidy helped get the industry started and smoothed the 1st stage of adoption, which was always going to be rocky. Despite my issues with Elon Musk, ultimately I think it's a good thin
Re:No subsidy. (Score:4, Informative)
You are getting shafted by the lack of competition from Chinese manufactures. Here we can buy a brand new long range EV for around $30k before tax, and it's better than a Tesla.
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I'm curious, but suspicious. [1]Tesla Y is the top selling car model by a large margin inside China [evwire.com], and UK reviews I've read of Chinese EV imports has made them sound underwhelming. UK reviews make them sound nowhere near as good as a Tesla, although decently priced.
But if you could post what model you're talking about, and what the cost of that car is vs. a Model Y in your home market, that might be interesting!
[1] https://evwire.com/p/china-tesla-model-y-best-selling-vehicle-any-fuel-type-june-2026
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Because Tesla only makes a few models, and I think only the Y and 3 are available in China. With Chinese batteries, BTW.
Also because they are aspirational. A lot of Audis are crap, they charge a subscription for heated seats. Range Rovers are unreliable and uninsurable, but people think they compensate for their micro penis.
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The 3 BYD's on the list add up to 54K roughly vs the tesla 38K sales. I'd say BYD takes the sales crown for the month. From what I've read, for me I'd want the SU7. Zero interest in the Y. The latest butt on the Y went from bad to worse.
Do they get smaller? (Score:2)
Apologies, curious. If we ignore the "long range" requirement, what's available over there?
For secondary or tertiary cars, "150 mile range street legal golf cart with overnight charging" covers a LOT of ground.
People are worried about oil crisis (Score:1)
Increase of EV sales is the result of people justifiably worried about the oil crisis. Due to war with Iran global oil supply is down by 20 to 25%, if not for major countries, including China, using reserves we would already have shortages. More so, Ukraine is attacking Russian oil production and Trump started trade war with Canada, so replacement for this lost production capacity is diminished.
So ya, with all that even *I* considered buying a used EV. I don't want one, but I don't want to be unable to dri
Battery fear is gone (Score:4, Informative)
Electrical vs ICE does not affect New vs used. It's not higher gas prices.
The main reason used EVs are not losing value as much as they did in the past is that the fear of used electrical batteries no longer being as strong.
Previously people were extremely worried that EV batteries were going to quickly lose their charge. There were concerns that older batteries could not be trusted. They thought a used battery was a liability. Worse, everyone kept talking about how the NEXT generation of battery would be so much better. For this reason a lot of people would rather get the newest technology which meant new EVs rather than used ones.
Over time we have found that batteries from used EVs stand up pretty well. Moreover, most people now think that 'new' battery technology is likely to be used for things besides cars (i.e. home back up) so the new cars use the same old batteries.
Combined with the fact that EVs generally have less maintaince issues, people have begun to realize that used EVs are a pretty good deal.
This is good for people with EV's already (Score:2)
but the prices of new EV's are just astronomical.
Also, a lot of states (and probably soon the Federal Government) have been tacking on surcharges which exceed the average price that someone pays through gasoline taxes to discourage the uptake of electric vehicles.
If the Republicans win this November (Because they successfully rammed the SAVE act though Congress), expect there to be a reconciliation bill in 2027 with add on surcharges for electric vehicles and hybrid vehicles.The add on surcharge will be sig
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If I was an US Republican, I'd do that just for the opposing crowd cringe which in its turn can be played into reassuring own ranks beind my fat hypothetically republican ass.
Thankfully I'm just cruising mediteranean on a 44' sailcat and can not have less fucks given about any side of US insanity. Like it was said long ago - Jedem das Seine. You chose to bicker over insignificant, you got the winner.
Re: This is good for people with EV's already (Score:2)
Not all EVs. Look at Nissan Leaf, Chevy Bolt , Equinox EV, Hyundai Kona. All of them under $35k. The median US vehicle purchase price is now just under $50k. That includes many vehicle sizes, though.
My Equinox EV was $27k out the door including about 10% CA sales tax last August before the $7500 incentive expired. I was sti able to take it as point of sale despite having only 3 digit federal tax liability last year.
Re:Well yeah (Score:4, Insightful)
No one is actually pulling out. The U.S. has made it harder for foreign companies to import them. But there are still domestic manufacturers of EVs, like Tesla, Ford and Stellantis. This is something very else: For the last decade, one big argument against EVs was "bad resale value", because EVs were seen as a novelty, and fear for dead batteries, fueled by the problems with first gen Nissan Leafs, made buyers wary of used EVs. Additionally, there were not many used EVs on the market to begin with, fleet operators did not have many young EVs to sell, and prices did not really average out yet.
Now, demand for EVs is rising due to high fuel prices, and a good public charging network making EVs a viable alternative for many people. And also people looking for bargains are hitting the market, and with used batteries not being the problem they were thought to be, used EVs have its own value proposition. We have here the normal effect of demand rising more than the available supply.
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Additionally, there were not many used EVs on the market to begin with
The other consideration is people aren't switching up their EVs. The first-generation EVs definitely had problems (Nissan Leaf, Kia Soul etc.) but the second generation cars are well designed.
My 2nd-gen EV just hit the 7-year mark. It is still running as well as when I drove off the lot, with next-to-no battery degradation. So I have ne need or desire to trade it in.
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In general, people are just holding onto their cars longer - whether ICE, hybrid, or EV. I imagine it's largely a function of price nowadays.
I still intend that my next car will be an EV... but I'm probably gonna wait and see what the upcoming Ford small truck is like. The Slate is too bare-bones for me.
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Looking at a [1]hybrid. [nxsmediawire.com] 44 Miles doesn't seem like a lot, but for mostly city driving it's adequate. Can even be charged on a standard plug.
[1] https://www.nxsmediawire.com/news/2027-toyota-prius-phev-makes-44-electric-miles-count/
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Can even be charged on a standard plug.
I've had my EV seven years. I've only ever charged it on a "standard plug."
It typically adds ~80km overnight, which is more than enough based on our driving profile.
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"Everyone is pulling out of the US EV market..."
Except they are not, dream on MAGA.
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Yep. City slickerz will continue to buy electromagnetic toy-carz to ... visit the neighborhood fentanyl dealer and then dive across blocks to visit another. 'Course when your elk lottery state is 400 miles away and the closest keg of Coors Lite nearly 75 you better drive an F-150 .
Re: Well yeah (Score:2)
Can't you buy elk lottery tickets online?
Re:Well yeah (Score:4, Insightful)
And more demand, due to gas prices. Thanks go to the president for making electric cars more desirable.
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Everyone? The market is consolidating, much as it did in the early days of ICE vehicle production.