Used electric vehicle prices plummet in Seattle, falling below gas cars
How do used gasoline car price reductions compare to those of EVs in Seattle?
In Seattle, used electric vehicle prices dropped more than 25%, or about $8,700, while used gasoline car prices fell by only 12%. This significant price reduction for used EVs can be attributed to factors such as increased supply, decreased demand, and advancements in EV technology.
How much did the average used electric vehicle price drop in Seattle?
The average used electric vehicle price in Seattle dropped more than 25%, or about $8,700. This significant decrease was noted by iSeeCars in a study that examined 2.2 million cars over a 12-month period. The drop was even larger than the 12% decrease seen in used gasoline car prices in the city.
Which models experienced the biggest price drops in the used EV market?
The used EV models that experienced the biggest price drops are the Jaguar I-PACE with a 30.1% decrease, Chevrolet Bolt EV with a 28% decrease, Hyundai Kona Electric with a 26.5% decrease, Kia Niro EV with a 24.8% decrease, and Nissan Leaf with a 24% decrease.