Used Chevrolet Volts And Nissan LEAFs Lead Industry In Price Drops For January
While the average late-model used car fell on average in January by 1.3%, down $307 to $23,237 in January, it was worth noting that the two besting selling plug-ins in the United States lead the way.
According to Cars.com’s Kicking Tires blog, in “first place” overall for biggest price drop was the Chevrolet Volt – falling an average of $1,308 over December of 2013, or 4.7%. Coming in “second place” was the Nissan LEAF – falling an average of $743, or 3.6%.
- Used late-model Chevrolet Volt: $26,614 (-1,308 or -4.7%)
- Used late-model Nissan LEAF: $20,148 (-743 or -3.6%)
And while the reality of continually dropping MSRPs on plug-in vehicles is always exerting more and more pressure on used car prices, January’s precipitous drop has a lot to do with the seasonality of the weather, and the fact that January is a virtual wasteland for plug-in sales after December’s deadline to qualify for the $7,500 federal credit on the current year’s taxes puts a big incentive on buying new electric vehicles at the end of 2013.
Sidenote: Best performing used car pricing for January 2014? Land Rover Range Rover +5.6%, followed by the Ford F-350 which was up +.9%.