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Prices on used hybrids and EVs are up more than a third vs. a year ago

With elevated fuel costs driving demand for fuel-efficient automobiles, the typical costs for used hybrids and electrical automobiles rose considerably in March in comparison with the identical month final yr, based on new evaluation from iSeeCars.

Common hybrid costs elevated 40.5%, whereas common EV costs elevated 35.1%, based on the evaluation. Notice that iSeeCars makes use of automobile record costs slightly than precise transaction costs for its evaluation.

2016 Hyundai Sonata Hybrid

The Hyundai Sonata Hybrid noticed the most important common worth improve, at 63.9%, with common costs hitting $25,620 in March 2022 in comparison with $9,991 in March 2021. It was adopted by the Toyota Prius (45.1%) and Toyota Avalon Hybrid (42.4%).

The Nissan Leaf noticed the best worth improve amongst all-electric fashions. The typical worth in March 2022 was $25,123, which represented a 49.2% improve over the $8,288 common worth for March 2021.

The Leaf has been the longtime top-seller amongst used EVs, and extra of the redesigned variations are actually coming off lease. New Leafs obtained a worth minimize for the 2022 mannequin yr, and a 2023 refresh seems to be simply sufficient, with out making these late-model used Leafs look dated.

2020 Nissan Leaf

2020 Nissan Leaf

A few of these used Leafs provide extra vary, as Nissan seems to have deleted the earlier 226-mile model for 2023, leaving the Leaf with a 215-mile most vary for the SV Plus model. The bottom 2023 Leaf S has a 149-mile vary.

Different used EVs that noticed common worth will increase had been the Tesla Mannequin S (42.8%), Chevrolet Bolt EV (37.4%), Tesla Mannequin X (35.1%), and Tesla Mannequin 3 (22.2%). The variety of Teslas is not stunning, as used-Tesla costs have been hovering for a while.

2022 Tesla lineup  (Courtesy of Tesla, Inc.)

2022 Tesla lineup (Courtesy of Tesla, Inc.)

Used EV costs began to surge final yr, lengthy earlier than the worth of fuel took off. Then it was pushed primarily by new-vehicle provide points and rising curiosity in EVs. Extra lately, fuel costs have spurred sturdy demand for high-mpg automobiles—particularly hybrids.

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