Auto Express

Leading hybrid and EV models continue to increase used car prices

According to the new analysis of iSeeCars.

The analysis, which is based on aggregate list prices and not necessarily transaction prices, shows that average list prices for used hybrids and electric vehicles have increased over the years compared to other powertrain types.

Used electric vehicles saw the biggest increase in price, with the average price in July being 56.7% higher than at the same time last year. Used hybrid vehicle prices are up 30.5% compared to July 2021. This compares to an average of 10.9% for all used vehicles and an average of 10.2% for with non-electric vehicles.

Average US used car price increase in July 2022 (according to iSeeCars)

Average US used car price increase in July 2022 (according to iSeeCars)

The individual used car models with the biggest average price increases are also mostly electrified. The Nissan Leaf had the biggest increase, 43.8%, followed by the Hyundai Sonata Hybrid with 43.0%. This is followed by the Toyota Prius, Prius Prime plug-in hybrid and Avalon Hybrid, all of which have average price increases of around 30% for used models.

In any case, these increases mean the difference between the four- and five-figure average prices. For example, The Leaf went from an average list price of $8,563 in July 2021 to an average list price of $28,093 in July 2022.

And even though discount for the new Chevy Bolt EV, the price of a used one has gone up dramatically. According to the analysis, the average used price increased by 30.2% between July 2021 and July 2022 – the sixth highest increase.

2020 Hyundai Sonata Hybrid

2020 Hyundai Sonata Hybrid

This continues a trend we took note last year about EVs. And iSeeCars recorded this spring that the price of electric and hybrid vehicles has increased by more than a third from the previous year.

On a model-by-model basis, used electric vehicle prices have been tracked as a percentage of their original price, but We recorded a change at the beginning of 2019—It seems with the arrival of some more affordable long-range electric vehicles like the Bolt EV and Tesla Model 3 on the used market.

Source link


News7h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button
Immediate Peak