The average price of used electric vehicles (EVs) in the U.S. fell by almost $3,000 last month, marking an 8.8% decrease year-over-year, while the overall used car market experienced a $630 increase, reaching an average of $32,317. Tesla vehicles dominated the price drops, with the Model S falling nearly $9,000 and the Model Y $4,945. Analysts attribute the depreciation to several factors, including the EV brand's perception and supply dynamics, indicating a challenging environment for used EV valuations.
The average price of a used EV in the U.S. dropped by nearly $3,000 in the last month, while the overall used car market became more expensive.
Tesla's Model S and Model Y saw significant price drops of nearly $9,000 and $4,945, respectively, contributing to the overall decline in used EV prices.
Karl Brauer stated that electric vehicles, particularly Teslas, experience noticeable depreciation, highlighting a challenging market for used EV values.
Despite the price drops in the EV segment, the overall used car market has increased by $630 year-over-year, indicating shifting market dynamics.
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