Used EVs lose value faster than gas cars — iSeeCars

Used electric vehicles (EVs) in the U.S. are depreciating much faster than gasoline-powered cars, according to a new study by iSeeCars, reported by Kursiv.media.

Between June 2024 and June 2025, the average price of used EVs fell by 4.8%, while gas-powered vehicles saw a 5.2% increase in price.

The average price of a 1–5-year-old electric car dropped to $31,354 — $1,569 less than a year ago. In contrast, a gasoline vehicle of the same age now averages $32,525, up by $1,594.

iSeeCars chief analyst Karl Brauer noted, “Buyers in the used car market are seeking value first. Today, EVs are cheaper upfront but lose value faster.”

EVs also dominate the list of models with the highest depreciation. Tesla’s Model S, X, and Y occupy the top three spots, losing up to 15.8% in value over the past year. Also on the list are the Model 3 and Porsche Taycan.

Analysts link the drop in EV prices to oversupply and waning demand. Since July 2024, the number of used EVs on the market has increased by 61.8%, compared to just 22.2% for gas-powered cars.

The trend may worsen after October 1, 2025, when federal subsidies for new and used EV purchases in the U.S. are set to expire. Experts believe this could further depress prices and reduce buyer interest. Read 'Zamin' on Telegram!