Used Electric Vehicle Prices Drop Below Gas and Hybrid Cars

Used electric vehicles (EVs) have become cheaper than used gas-powered and hybrid cars in 2024. This shift is due to a decline in used-EV values, particularly for popular models like the Tesla Model 3 and Kia Niro EV. Increased availability of new cars, including EVs, has led to price drops in the used car market. As a result, used EVs are now selling more quickly and are more competitively priced compared to gas and hybrid options.