Used EV Prices Collapse

By Douglas McIntyre • March 12, 2025

Quentin Martinez Pexels

The prices of used gas-powered cars have held their own over the last year. However, the prices of used EVs have collapsed.

iSeeCars examined 1.9 million used car prices between February 2024 and February 2025. The cars were used vehicles between one and five years old. Internal combustion engines lost .5% of their value to $31,281. EV prices dropped 15.1% to $32,198.

Used Car Supply

iSeeCars Executive Analyst Karl Brauer commented. “There’s no indication prices will drop from their current levels throughout 2025 and, with tariffs looming, the price of both new and used cars could potentially rise.”

The used EV that lost the most value was the Porsche Taycan, which dropped 26.5% to $73,976. According to Car Scoops, “Global deliveries of the Porsche Taycan slumped 50 percent in the first nine months of 2024 and slid 35 percent in the US.”

Supply Chain

Supply chain interruptions caused the price of new and used cars to skyrocket during the COVID-19 pandemic. If that pattern repeats itself soon, tariffs that have already begun will be the cause.