Used EVs Hit Record 3.3% Share of U.S. Used Car Market in September
Used EV sales rose 12.3% month-over-month to 47,862 units, with average price falling to $36,767, narrowing gap with gas cars.
Key takeaways
- Used EV market share hits record 3.3%
- Average used EV price drops to $36,767
- New EV sales fall 40.7% year-over-year
September Used EV Sales
Used electric vehicles accounted for a record 3.3% of all used car sales in the U.S. in September, according to Cox Automotive. A total of 47,862 used EVs changed hands, up 12.3% from August and 21.2% from a year earlier. The average listed price of a used EV fell 1.8% to $36,767, still $2,137 above the average gas car but down from a $2,692 gap a month earlier. Used EV supply on dealer lots dropped to 35 days, 16.7% less than August, while gas vehicles averaged 46 days.
Tesla led the used market, with Ford and Chevrolet posting strong monthly gains of 17.1% and 21.3% respectively. The Nissan Ariya and Chevrolet Equinox EV saw sales jump 42.5% and 41.9%. Meanwhile, new EV sales fell 40.7% year over year to an estimated 86,632 units, though their share of new-car sales edged up to 6.5% as the overall market contracted. Cox noted the used market alone cannot offset the new EV decline, and EVs still carry a price premium.
Source: InsideEVs
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