According to a new study, EV prices are dropping at a much higher rate than gasoline-powered vehicles.
LOUISVILLE, Ky. — Used electric vehicle prices are plummeting across the United States, and Louisville is no exception.
A new study from iSeeCars analyzed 2.2 million used cars from May 2023 to May 2024 to track pricing trends. The Tesla Model 3 had the fourth-highest price drop among all vehicles, with the average sale price falling nearly $6,000 in that span.
Here are the top five year-over-year price drops in Louisville for all used cars:
1. Ford Expedition (17.9% drop to $42,975).
2. Volkswagen Atlas (17.5% drop to $29,022).
3. Honda Civic (17.5% drop to $5,966).
4. Tesla Model 3 (15.9% drop to $31,551).
5. Jeep Grand Cherokee (15.8% drop to $30,699).
Overall, used cars dropped in price in Louisville by 4% to an average sale price of $30,454.
“Used car prices have been relatively stable over the past year, but electric vehicles …