Used car prices haven’t tumbled as many predicted after their meteoric rise during and after COVID, but prices for used EVs have. Preowned vehicle pricing has fallen less than one percent over the last year, according to a recent study from iSeeCars, but used EVs dropped more than 15 percent during the same period.
iSeeCars executive analyst Karl Brauer said, “The average price of 1-to-5-year-old used cars has shifted less than $1,000 over the past year. There’s no indication prices will drop from their current levels throughout 2025 and, with tariffs looming, the price of both new and used cars could potentially rise.”
Used Tesla pricing fell the most over the last year, with a 13.6-percent decline. While the automaker’s more recent issues relate to politics, this price drop comes due to its changing new-car pricing, aging products, and fluctuations in overall EV demand. Maserati, Chrysler, Chevrolet, and Genesis were other companies with the largest used vehicle price decreases.
As these things tend to go, the numbers are heavily impacted by a few models. While Tesla as a brand had the largest used price drop, the Porsche Taycan was the individual model with the biggest decrease, averaging more than $26,600 in price cuts. The Tesla model S, Y, and 3 also saw significant cuts.
[Images: Tesla, Porsche]
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