Used Tesla prices rise 4.3% while rest of EV market drops after tax credit ends
A new study shows that used Tesla prices have climbed 4.3% since the federal EV tax credit expired on September 30, while nearly every other used electric vehicle has dropped an average of 3.6%. Used EV market share has plunged 20% over the same period.
The data, from iSeeCars’ analysis of over 1.7 million used cars, paints a stark picture of a two-tier EV market emerging in the wake of the credit’s elimination, one where Tesla holds pricing power and everyone else scrambles to compensate.
However, it appears to be a correction after Tesla’s used car prices were in free fall last year.