Used car prices are down across the board, with gas-powered cars dropping by 2.8 percent in the first quarter of the year compared to the same time last year.
This decline is largely due to the ongoing shift towards electric vehicles, which have become increasingly popular over the past few years.
Tesla EVs, in particular, are holding their value remarkably well, losing only 0.1 percent of their value during this period.
In contrast, non-Tesla EVs are experiencing a significant decline in value, with some models dropping by as much as 10.3 percent from Q1 2025 to Q1 2026.
According to iSeeCars.com, hybrids have proven to be the real beneficiaries of rising fuel costs, selling faster and retaining more value than electric vehicles.
The study also found that non-Tesla EVs are staying on dealer lots for an average of 60.1 days, while Teslas are being sold at a much faster pace, with an average stay time of just 32.4 days.
This data suggests that Tesla's brand loyalty and reputation continue to play a significant role in the company's success, as well as its ability to maintain high demand for its vehicles.
Electric vehicles offer several economic benefits, including lower fuel costs and reduced maintenance expenses, which can make them a more affordable option for drivers.
Overall, the market looks great for used EV buyers, with Tesla EVs holding steady and non-Tesla EVs dropping significantly.
As the automotive industry continues to shift towards electric vehicles, it's likely that we'll see even more opportunities for buyers to snag a good deal on a used EV.
The market looks great for used EV buyers, with Tesla EVs holding steady and non-Tesla EVs dropping significantly.
