EV Prices Collapse
According to iSeeCars, the prices of EVs have started to collapse ahead of the expiration of incentives.
iSeeCars Executive Analyst Karl Brauer said, “Electric vehicles have a role to play in the new and used car market, but that role won’t be at the level many government and private EV proponents have been touting for years. Everything from market share to pricing suggests EV demand has peaked and will likely decline in the coming years.”
Gas-Powered Cars Did Better
iSeeCars looked at the 1- to 5-year-old used cars. It compared price moves for June 2025 with those of June 2024. Internal combustion-powered cars experienced a 5.2% price increase to $32,525. EV prices dropped 4.8% to $31,354.
The cars with the biggest price drops were Teslas. The price of a Model S dropped 15.8% to $46,671. The price of the Model X dropped 15.5% to $51,884.
The advice iSeeCars had was, if you are going to buy an EV, don’t wait.
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