Electric vehicle sales are growing year-over-year, but monthly and quarterly trends often ebb and flow, causing uncertainty about what’s actually happening. A new report from car buying and research firm iSeeCars emphasizes these fluctuating sales patterns, especially with regard to used EVs.
iSeeCars claims to have analyzed over 2.3 million new and 1- to 5-year-old used cars to understand the market, and it found a “substantial weakness” in demand for EVs compared to hybrids and gas vehicles. The most substantial of these findings: used EV prices were down 33.7 percent in October 2023, compared to October 2022. Last October, the average used EV price was $52,821. This October, it was $34,994.
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