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Electric cars have a major disadvantage compared to thermal cars

© Tesla

A 'General slowdown in used car prices, but a dramatic drop in used electric vehicle prices'. This is what we can learn from this new study from iSeeCars carried out in the United States. To get a clearer picture, experts analyzed more than 1.8 million used cars sold between February 2023 and 2024.

These results represent excellent news for anyone who wants to buy an electric car, but cannot afford to buy a new vehicle. On the other hand, it is a blow to all those who hoped to make a good deal by reselling.

Tesla prices are collapsing

If the average price is down by 3.6%, the situation is quite different for used green vehicles which have fallen by 31.8% over the last year. In detail, this inglorious podium is made up of the Chevrolet Bolt (-30.4%), The Nissan Leaf (-29.1%) and the Kia Niro (-27.1%).< /p>

Tesla places three models in the top 10 cars whose price has fallen the most on the used market (3, S, X). Thus, the manufacturer's average vehicle sells for $36,515 used, which means a drop of 28.9% over one year and a spectacular drop of $14,808!

How to explain this development ? Karl Brauer, executive analyst at iSeeCars underlines: “Elon Musk’s initial price cuts on new Teslas were already impacting the value of electric vehicles a year ago, but his repeated price cuts have continued to drive prices down of used Teslas, which has spread to all electric vehicles, creating weakness in the entire used electric car market. ;

Recently, a Gartner study analyzed the differences between electric and thermal cars. According to experts, these green vehicles will soon be cheaper to produce than their gasoline and diesel equivalents. This prospect occurring much faster than expected.

Their search, however, includes some bad news. Specialists therefore estimate that the arrival of new on-board technologies will make repairs more expensive. The increase could even reach 30% for serious accidents. In this context, some insurance companies might even be reluctant to cover certain models. You can read this analysis in more detail by rereading our article here.

What you need to remember:

  • The prices of used electric cars are falling faster than thermal cars
  • C' is particularly true for the different Tesla models
  • This is good news and bad news depending on whether you are a buyer or seller

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Teilor Stone

By Teilor Stone

Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teilor@nizhtimes.com 1-800-268-7116