evs

Used electric car prices are slowly growing

For years, electric vehicles have had relatively low resale value for a variety of reasons.

Used electric vehicles are typically priced with the $7500 federal tax credit baked in. The plug-in market is also rapidly improving. First gen electrics such as the Chevy Spark EV and 2015 Nissan LEAF simply cannot compare to the Chevy Bolt EV and the Gen 2 LEAF. Not to mention the sales success of the year: the Tesla Model 3. – according to Insideev.com

According to Black Book’s three-year retention gauge, the value of used EVs this year is about 38%. That is a large improvement from from only 21% one year ago.

J.D. Power and Associates has found that the 2015 Nissan Leaf is now retaining 30% of its original sticker price. That is up 23% from the fourth quarter last year. Wholesale prices of the 2015 LEAF are up about 1 percent from where they were last year.

Other first gen electric vehicles are seeing similar results. The Fiat 500e is retaining 21%, up from 18% last year. The Chevy Spark EV is retaining 25% this quarter compared to 21% from last year. Spark EV wholesale value is up 10% year over year.

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