We just released an analysis of used Model 3 over time and, as part of it, we conducted satisfaction surveys on Model 3 drivers. It will be interesting to see how it plays out. As we come up on that 3-year mark, which is when people begin to trade in or switch up their car, we’re about to see an explosion of used Model 3s. The Model 3 gained momentum with new car deliveries in late 2018, to become nearly 40% of new EV sales in the US almost overnight. The biggest story for the rest of this year, though, is the coming surge of used Tesla Model 3 supply. That gives dealers near me a chance to be more aggressive with pricing than a neighboring state where the sales tax is added at the end.
For instance, there is no sales tax on used EVs under $30,000 in my home state of Washington. Some of that variance may come down to local incentives or supply. That price jumps another $1,000 if you’re looking for the same Bolt in Nevada. However, you can get one for under $19,000 in Alabama versus over $22,000 in Washington. The average price of a 2017 Chevy Bolt is around $20,400 nationally. Prices are also varying a lot from state to state. Our latest EV buying report found that the values of used electric cars have increased by about 15% since March 2021. It is happening for both gasoline and electric cars as prices react to renewed consumer demand and limited vehicle supply. Noblet: What are one or two of the biggest trends shaping the used EV market today?Ĭase: Anyone who has shopped for a car lately, whether new or used, can tell you about the increased values of cars in 2021.