image credit: iSeeCars
Used electric vehicle prices fell below average gas car prices in February and EVs have continued to lose value faster than the average used gas car.
Karl Brauer, iSeeCars’ executive analyst, said, “There’s no denying the crash in used electric vehicle values over the past year. We’ve watched EVs’ prices fall between 30 and 40 percent since June of last year, while the average gas car’s price has dropped by just 3 to 7 percent in that same timeframe.”
“It’s clear used car shoppers will no longer pay a premium for electric vehicles and, in fact, consider electric powertrains a detractor, making them less desirable – and less valuable – than traditional models,” said Brauer.
