Gas Prices Are Pushing Buyers Toward Used EVs
Aside from pushing gas prices higher, the start of the Iran conflict has affected the used EV market in both good and bad ways. On the positive side, more buyers began considering EVs over gas-powered cars. On the flip side, the surge in demand has pushed average used EV prices higher even as the broader used-car market cools.
A study from iSeeCars shows that average used EV prices have risen for three consecutive months: up 2.7% year over year in April, 5.2% in May, and 7.4% in June to $33,305. Meanwhile, the average used-car price dropped 1.3% YOY to $32,395. Rising gas prices are seen as a major factor in this shift, with iSeeCars Executive Analyst Karl Brauer saying that “there’s no indication they won’t keep rising.” For anyone considering a used EV, that means it may be better to act sooner rather than later.
Tesla
Tesla’s Four-Car Price Surge
The Tesla Model X posted the largest year-over-year increase on the list at 17.5%, bringing its average used price to $60,950. Its discontinuation earlier this year may have contributed to the increase, along with that of the Tesla Model S, which ranked seventh after rising 13.1% to $52,787. Both the Model 3 and Model Y also made the list, ranking fifth and ninth after rising 13.5% to $28,520 and 12% to $32,916, respectively. That should not come as much of a surprise, given that they remain the two best-selling EVs in the U.S.
The Model X was followed by the BMW X2, up 17.4% to $33,956; Mini Countryman, up 16.1% to $30,535; and Ford Mustang convertible, up 14.1% to $32,524. The Alfa Romeo Giulia and Honda Pilot took sixth and eighth place, rising 13.4% to $30,320 and 12.6% to $37,301, respectively. The Lexus ES 300h rounded out the top 10, up 11.3% to $43,057.
Where These Figures Came From
The study analyzed more than 1.8 million one- to five-year-old used cars sold in June 2025 and June 2026. It excluded heavy-duty and low-volume vehicles, models discontinued as of the 2025 model year, and vehicles produced during fewer than four of the previous five model years in each period.
For California residents, it may be worth noting that the state is set to offer rebates of up to $3,500 on EVs, applied at the point of sale. However, used EVs qualify for only a $1,750 rebate and must cost no more than $25,000. Also, the program is limited to first-time EV buyers.
Tesla
