"A three-year-old Tesla Model S, for example, is selling much faster than a Toyota Corolla Hybrid, taking an average of 21.5 days to find buyers, versus 29 days for the Toyota. In fact, eight of the top 20 fastest-selling three-year-old vehicles are now EVs. That list is no longer just dominated by Teslas. Buyers are also snapping up electric models from Hyundai, Kia, Ford and Audi."
"Three-year-old used EVs have been selling faster than gas vehicles for the past year, including the final two quarters of 2024, Ivan Drury, the director of insights at Edmunds, told me in an email. What's different now is that quicker turnover is happening across a broader mix of used EV models, not just a handful of early movers as we saw last year, where there were fewer units and types for sale, he added."
New-car prices have risen steadily for more than a year, with tariffs and inflation contributing to higher costs and the average transaction price surpassing $50,000 in September. More buyers are shifting to the used market, pushing average prices of three-year-old used vehicles up about 5% to roughly $31,000 in the third quarter. Many used vehicles are staying longer on dealer lots as buyers become more selective and compare high used prices with new-car incentives. Electric used vehicles are bucking the slower-turnover trend, selling faster across a broader mix of models from multiple manufacturers, while used EV tax-credit eligibility remains limited.
Read at insideevs.com
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