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.
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.
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.