Used Plug-In Electric Cars Sell Quicker Than ICE
A recent study by iSeeCars focused on how quickly used cars sell.
According to the study, plug-in electric cars account for less than 1% of new car sales in the U.S., but in the used market, plug-ins are hot.
As Cheat Sheet reports:
“Looking at the secondhand market, iSeeCars.com zeroed in on 2.2 million vehicles from model years 2013 through 2015 that were listed and sold in the first five months of 2016. Compared to the 42.5 average days for a gasoline car on the used market, electric cars took just 29.2 days to sell. Plug-in hybrids (40.7 days) and standard gas-electric hybrids (38.2 days) also beat gasoline cars in the study.”
In fact, five green models (PHEV, HEV or EV) made the Top 10 list for quickest selling used cars.
The three quickest selling plug-ins are listing in order below:
- Tesla Model S
- Nissan LEAF
- Toyota Prius Plug-In Hybrid
iSeeCars.com CEO Phong Ly, says that there are several factors that lead to used plug-in selling quickly. Those factors include:
- HOV lane access
- Faster depreciation for plug-ins
- Limited inventory
- High new sticker prices
Source: Cheat Sheet