According to automotive specialists, prices for pre-owned electric vehicles (EVs) have been increasing significantly throughout 2026. This upward trend is considered unusual because, historically, used cars—regardless of type or condition—tend to lose value over time.
Market Data and Price Appreciation
Industry data indicates that the current surge in prices for used EVs defies the typical depreciation pattern. For instance, a recent analysis by Recurrent revealed that used EV prices climbed 5.1% between January and June of 2026. This growth rate continued into the second half of the year, reaching an increase of 7% year-to-date through mid-July.
Recurrent’s analysis weighed price increases across 108 different combinations of makes, models, and years, noting that “Used EVs are appreciating, which almost never happens.” Another examination by Edmunds found similar evidence: the average transaction cost for used EVs with a 2023 model year (three years old) increased by 6% during the first half of 2026, rising from $31,429 to $33,303.
The price increases have been widely distributed across the sector. Stephanie Valdez Streaty, director of industry insights at Cox Automotive, noted that twenty-one out of the twenty-five most popular used EV models saw a rise in value between January and June this year. This positive trend suggests favorable conditions for current owners considering selling their vehicles.
Driving Factors Behind Demand
Experts suggest that the price increases are driven by a combination of strong consumer demand meeting high vehicle supply. Historically, an increase in available inventory would typically cause prices to drop; however, this year’s market dynamics present a different picture.
One major contributing factor is the cost of gasoline. High fuel costs, linked partly to the Iran war, are pushing more consumers toward highly efficient alternatives. As of July 27, average gasoline prices in the U.S. reached approximately $4.10 per gallon—a rise of roughly 31% compared to the $3.12 recorded a year earlier, according to weekly data from the Energy Information Administration.
Furthermore, overall affordability concerns are directing consumers toward the used car market broadly. Cox Automotive reported that while new EV sales dropped about 28%, used EV sales rose by 20% in June compared to the previous year. Consumers are finding it possible to purchase a newer EV—for example, one that is three years old—at a price comparable to a gas-powered car that is four and a half to five years older.
The market environment has also shifted due to policy changes. The federal tax credit for EVs, which had originally been set through 2032 under the Inflation Reduction Act, was curtailed ahead of schedule by Republicans, ending the break after September 30, 2025.
Price Variation Across Models
The rise in prices has not been uniform. According to Recurrent’s analysis, the lowest-cost used EVs have seen the steepest gains; models under $20,000 increased by 9.4% during the first half of 2026. This was compared to a 5.6% increase for vehicles priced between $20,000 and $30,000, and a 6.5% jump for models in the $30,000 to $40,000 range.
Conversely, more expensive used EVs experienced price dips during this period: Recurrent found that vehicles costing between $40,000 and $50,000 saw a 1.2% decline, while those priced over $50,000 dropped by 3.3%.
It always comes down to affordability in car sales.
It doesn’t matter if it runs on gas or electric.
— Rob Dell, vice president at Bob Ruth Ford
Conclusion for Buyers and Sellers
While rising prices may temper the purchasing power of potential buyers, experts suggest that the overall cost of ownership for an EV can still be advantageous. Factors such as generally lower maintenance costs and potential fuel savings (especially if charging is possible at home with low electricity rates) are improving communication between dealers and consumers.
Valdez Streaty concluded that “Market dynamics right now are making used EVs a really good option for consumers.”
