{"id":82002,"date":"2025-04-23T15:36:46","date_gmt":"2025-04-23T19:36:46","guid":{"rendered":"https:\/\/autosector.com\/?p=82002"},"modified":"2025-04-23T15:36:46","modified_gmt":"2025-04-23T19:36:46","slug":"used-ev-prices-fell-40-and-buyers-are-searching-like-never-before","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=82002","title":{"rendered":"Used EV prices fell 40%, and buyers are searching like never before"},"content":{"rendered":"
\n\t\"Used<\/figure>\n

More car buyers are hunting for used EVs \u2013 CarMax says searches filtered by \u201celectric vehicle\u201d have nearly doubled since January 2022.<\/p>\n

<\/p>\n

CarMax saw EV searches surge in March 2022 and again in June 2024. The first spike lined up with the gas price shock after Russia invaded Ukraine, and the second came right as the Biden administration rolled out its $4,000 federal tax credit for used EVs.<\/p>\n

The online used car marketplace\u2019s Spring 2025 Electric Vehicle Consumer Report shows just how far used EV prices have tumbled, down over 40% between January 2022 and February 2025. By comparison, prices for gas cars, hybrids, and plug-in hybrids only slipped about 12% over the same period.<\/p>\n

What people are trading in<\/h2>\n

For the first time ever, more people are ditching sedans and coupes for EVs than SUVs. CarMax says sedans and coupes made up 44% of all EV trade-ins, up from 36% in 2024 and just 29% the year before. It\u2019s a clear sign that the EV switch is picking up speed across more than just SUV drivers.<\/p>\n

When customers traded in sedans for EVs during this report\u2019s measurement period, the most common EVs they purchased were the Tesla Model 3, Tesla Model Y, and Chevy Bolt EUV.\u00a0<\/p>\n

The top traded-in model for an EV at CarMax was the Tesla Model 3, and those who traded in a Model 3 usually went for a Model Y. The rest of the top five include the Honda Civic and Accord, the Nissan LEAF, and the Toyota Prius. The Ford F-150 truck, the top trade-in alongside the Accord in the 2024 report, dropped off the list.<\/p>\n

Where used EVs are most popular<\/h2>\n

Since this is CarMax\u2019s report, it\u2019s of course based on data sourced from its 250 stores across the US. In 2025, Oregon beat California to become the state with the highest percentage of EV sales compared to each state\u2019s total sales at CarMax. California has previously held the top ranking since 2023.\u00a0<\/p>\n

The West Coast continued to dominate when it came to used EV sales<\/a>. California and Washington were in second and third place, respectively. Nevada and Arizona were fourth and sixth, while Utah and New Mexico (new to the top 10 list this year) held spots five and seven. On the East Coast, New York (10) appeared on the list for a second time, dropping two spots from No. 8 in 2024.\u00a0<\/p>\n

The newcomers include Minnesota, which jumped 24 spots in a year to No. 8, and New Jersey, which moved up six slots to No. 9. <\/p>\n

\"\"<\/a><\/figure>\n
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<\/div>\n","protected":false},"excerpt":{"rendered":"

More car buyers are hunting for used EVs \u2013 CarMax says searches filtered by \u201celectric vehicle\u201d have nearly doubled since January 2022. CarMax saw EV searches surge in March 2022 and again in June 2024. The first spike lined up with the gas price shock after Russia invaded Ukraine, and the second came right as […]<\/p>\n","protected":false},"author":1,"featured_media":8313,"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-82002","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\/82002","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=82002"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/82002\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/8313"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=82002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=82002"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=82002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}