Gas prices inflated by the conflict with Iran are boosting used electric vehicle values as shoppers look for relief from pain at the pump.
According to a new study from iSeeCars.com, used EV prices were up 2.7% year over year in April, 5.2% in May, and 7.4% in June as hostilities continue with no end in sight. That followed a drop of 3.4% in March and comes amid a 1.2% slide in the used car market overall.
All four of Tesla’s car and SUV models made the top 10 in price increases, with the Model X leading the way at 17.5%, but they were the only EVs at the top of the list.
The BMW X2 (17.4%) and Mini Countryman (16.1%) followed with the Mustang Convertible up next (14.1%) ahead of the Tesla Model 3 (13.5%).
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New Mustang sales were up 22% through June of this year, so there is renewed interest in the model, but the convertible accounts for about 1/5th of the volume. Unlike the electric Mustang Mach-E, it is offered only with the choice of a turbocharged 2.3-liter four-cylinder or 5.0-liter V8.
The Alfa Romeo Giula (13.4%), Tesla Model S (13.1%), Honda Pilot (12.6%), Tesla Model Y (12.0%) and Lexus ES 300h (11.3%) rounded out the top 10.
At the other end of the list, the Lincoln Corsair hybrid led the way to the bottom at -14.7%, trailed by the Porsche 911 (-10.6), Audi Q5 hybrid (-7.5), Mercedes-Benz G-Class (-7.2%), Audi A5 Sportback (-6.9%) and Ford’s other open-top horse, the Bronco (-5.7).
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