{"id":48040,"date":"2023-04-24T00:03:23","date_gmt":"2023-04-24T04:03:23","guid":{"rendered":"https:\/\/autosector.com\/?p=48040"},"modified":"2023-04-24T00:03:23","modified_gmt":"2023-04-24T04:03:23","slug":"used-ev-sales-thriving","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=48040","title":{"rendered":"Used EV Sales Are Thriving As Prices Continue To Fall"},"content":{"rendered":"

Sales of used electric vehicles are growing at a rapid rate. Per a new report from industry analysts\u00a0Cox Automotive, sales of pre-owned EVs rose 32% in Q1 2023. EVs now account for 7% of the used American automotive market, up from\u00a03.1% in 2021.<\/p>\n

Over 225,000 used EVs exchanged hands in the US last quarter, a new record. According to the most recent data, the average price of a used EV was\u00a0$43,400. However, that figure is likely lower now with used prices continuing to fall.\u00a0<\/p>\n

Prices are coming down due to a myriad of reasons, including several economic factors. However,\u00a0Tesla<\/a> has played a major role in used prices falling as well. By drastically lowering new prices for the\u00a0Model 3<\/a> and Y<\/a>, the used market has had to correct itself on several occasions.<\/p>\n

The 3 and Y compete with such a wide array of electric vehicles and account for over half of the entire market. Hence a reduction in 3 and Y pricing will have a knock on effect on the used price of a Volkswagen ID.4<\/a> or Ford Mustang Mach-E<\/a>, for example.<\/p>\n

<\/section>\n

It could be argued that now is a great time to buy a used EV, although even better deals could be around the corner with general supply continuing to grow. That said, it’s hard to overlook some prices. Low mileage 2018\/19 Model 3s are now trading hands for as little as $25,000. On the other end of the market, you can get a will specced 2022 Mercedes EQS<\/a> with under 15,000 miles for a small bit over $70,000. Given that car cost over $100,000 12 months ago, that’s a pretty sweet deal in our eyes.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Sales of used electric vehicles are growing at a rapid rate. Per a new report from industry analysts\u00a0Cox Automotive, sales of pre-owned EVs rose 32% in Q1 2023. EVs now account for 7% of the used American automotive market, up from\u00a03.1% in 2021. Over 225,000 used EVs exchanged hands in the US last quarter, a […]<\/p>\n","protected":false},"author":1,"featured_media":48041,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-48040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-cars"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/48040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48040"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/48040\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/48041"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48040"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}