The prices of used electric vehicles (EVs) in the United States have been on a steady rise, according to recent reports. Research conducted over the past year indicates that the average listing price for these vehicles increased by nearly 10%, a significant shift from last year when used EVs were cheaper than their gasoline counterparts by an average of $2,227. As of this year, the average used electric vehicle is now more expensive than a used gasoline vehicle, with a price difference of $579. Notably, the second-hand price of the Tesla Model S has surged by an impressive 22.5%.
A study released on October 28 from the automotive research platform iSeeCars reveals that in September, the average listing price for used electric vehicles in the U.S. reached $32,533, marking a 9.8% increase compared to the same month last year. In contrast, used hybrid vehicles saw a rise of 4.9%, while used gasoline vehicles experienced only a marginal increase of 0.3%.
A year ago, the average listing price for used electric vehicles was $29,637, which was lower than the average price of gasoline vehicles at $31,864. However, the landscape has shifted dramatically. Today, used electric vehicles surpass gasoline vehicles in average listing price, highlighting the evolving dynamics of the automotive market.
It’s important to note that this analysis compares average listing prices across different categories of used vehicles and does not imply that every electric vehicle from the same brand, category, and age is necessarily more expensive than its gasoline counterparts.
Tesla models, in particular, have excelled during this surge in used vehicle prices. For instance, the average price of a used Model S has increased by 22.5% year-on-year, reaching $57,862, making it one of the top performers among all surveyed models. Other Tesla models have also seen substantial price hikes: the Model X is up by 18%, and the Model 3 has increased by 15.4%. The BMW X2 stands out as the model with the highest price increase, showing a 24.3% rise.
In addition to the escalating prices, the selling speed of used electric vehicles has noticeably accelerated. In September of this year, the average time taken to sell a used electric vehicle was 41.9 days, which is 4.7 days faster than the previous year. During the same period, used gasoline vehicles have seen their average selling time extend to 54.8 days, a increase of 9.1 days compared to the previous year. This trend indicates that used electric vehicles are now selling almost 13 days faster on average than gasoline vehicles, whereas last year, gasoline vehicles were selling slightly quicker.
Analysts from iSeeCars, such as Karl Brauer, suggest that the recent rise in fuel prices has played a significant role in driving up the demand for used electric and hybrid vehicles.
Earlier this year, the market for used electric vehicles was experiencing a decline in prices. Data showed that in March, the average price was down by 3.4% compared to the previous year. However, this trend shifted in April, as prices began to rise and continued to do so for six consecutive months, with August witnessing an increase of 10.3%.
Nevertheless, not all used electric vehicles are flying off the market with the same demand level. For instance, the Cadillac Escalade iQ significantly lags behind, taking an average of 128.7 days to sell, which is considerably longer than the average in the used electric vehicle market.
This study analyzed over 1.5 million used cars ranging from one to five years old, comparing data from September 2025 and September 2026. The findings paint a portrait of a rapidly changing automotive landscape, where consumer preferences are increasingly gravitating towards electric and hybrid vehicles.