• The average price of a used EV went down nearly $3,000 last month in the U.S.
• That’s an 8.8% decrease year-over-year.
• Meanwhile, the overall used car market became more expensive due to low inventory levels.

Used electric vehicle prices continue to go down, while the overall used car market has become more expensive, a new study from iSeeCars revealed.

Last month, the average price of a used EV in the United States was $31,110, down $2,993 compared to the same month last year. Meanwhile, all used cars got more expensive by $630 year-over-year and reached an average of $32,317.

Still the biggest player in the EV market, Tesla–or rather, Tesla owners–is bearing the brunt of the price drops. The venerable Model S sedan is now nearly $9,000 cheaper on the used market compared to last year (a 16% drop), with an average selling price of $46,503. The Model Y is close behind with a year-over-year decrease of 14.2%, leading to an average price of $29,789 ($4,945 lower compared to May of last year).

The Porsche Taycan lost a whopping $10,998 year-over-year (down 12.7%) and reached an average selling price of $75,644. The Taycan is more expensive to buy new than both the Model S and Model Y, so it’s not surprising that its average used price is higher, but recently, used Taycans have become a sort of hidden gem, with some selling for as low as $40,000. Maintaining them, however, is a different story.

Next on the list is the Tesla Model X, which is 10th overall, with a $5,292 drop (8.9%) and an average price of $54,004. The Kia Niro EV is further down, with a $1,577 decrease (6.9%) and an average selling price of $21,316.

“Electric vehicles make up five of the top 10 models with the biggest price drops, with four of those being Teslas,”  said iSeeCars Executive Analyst Karl Brauer. “Multiple factors contribute to a used car’s value, but being an electric vehicle and wearing the ‘Tesla’ brand appear to be a double negative.”

EVs are known for their notable depreciation compared to gas-powered vehicles, and that has been true for most of last year, when used battery-powered cars lost as much as $11,000 in value year-over-year. However, as more models hit the market and the public becomes more accustomed to the idea of driving an EV, used EV prices have fluctuated less than 10% over the past three months, suggesting that there’s an increasing balance between used EV supply and demand.

“The car market continues to suffer from a COVID hangover, with reduced new car production between 2020 and 2022 leading to fewer 1- to 5-year-old used cars on the market in 2025,” said iSeeCars Executive Analyst Karl Brauer. “There’s also been a higher percentage of lease customers buying out their vehicles at the end of the lease, further restricting the used car supply.”

To come up with these numbers, iSeeCars analyzed 2.4 million 1- to 5-year-old used cars sold in May 2024 and May 2025 to identify used car pricing trends.