Used electric vehicle prices are rising again this year.

InsideEVs reported on July 21 that used EV market tracker Recurrent calculated that used EV prices have risen 5.1 percent since January.

The increase was larger in the low-price segment. Prices of vehicles priced below $20,000 rose 9.4 percent from January to June. In recent years, EVs have been seen as having steep depreciation due to tax benefits, price-cut competition, rapid technology improvements and concerns over battery life, but the mood has shifted in the used market.

The upward trend was also confirmed by model. The average price of a 2023 Chevrolet Bolt EV was $21,204, up nearly 20 percent from $17,718 at the start of the year. A 2022 Tesla Model 3 rose $3,000 to near $27,000, and a 2023 Ford Mustang Mach-E rose $4,000 to near $35,000. Used EVs priced above $40,000, however, continued to fall.

The market is again focusing on the price competitiveness of used EVs. Used EV supply and sales increased as EV lease volumes grew in recent years, but prices rose instead. Days' supply, which shows the pace of inventory depletion, was also at a similar level to used internal combustion engine vehicles. Used EV sales in the second quarter this year exceeded 128,000 vehicles, beating even the third-quarter 2025 result when demand was high due to tax credits.

Rising oil prices were also cited as a factor stimulating demand. Gasoline prices have fallen from their spring peak but still remain above $4 a gallon. Recurrent saw rising gasoline prices as pushing consumers into the broader used-car market, with EV demand increasing as a result.

This trend has different meanings for different consumers. It is positive for owners of vehicles such as the Chevrolet Bolt or Tesla Model 3 in terms of preserving asset value, but it raises the entry price for consumers considering buying a used EV.

Some assessments say the price increase is not entirely a negative signal. Recurrent said the change in a group of models that have been defined by steep depreciation since 2022 is a sign the market is maturing. As a result, used EV buyers have been able to reduce some of their anxiety that value could plunge immediately after purchase.