Is This the Best Time to Buy a Used EV? Prices Say Yes
AI-summarised brief · reviewed before publication
Non-Tesla electric vehicle (EV) prices have dropped 10 percent year-over-year, making it an ideal time to buy a used EV like the Chevrolet Bolt or Ford Mustang Mach-E. Meanwhile, Tesla EVs have held their value, losing only 0.1 percent in the first quarter. Used car prices are down across the board, with gas-powered cars dropping 2.8 percent and hybrids losing 1.4 percent of their value.
💡 Why It Matters
- · The market shift favors used EV buyers, but it also highlights the growing popularity of hybrids, which are selling faster and retaining more value than electric vehicles.
- · As fuel costs rise, hybrids are proving to be the more attractive option for consumers.