According to Cox Automotive, the Manheim Used Vehicle Value Index for electric vehicles (EVs) rose by 12% in June 2026 compared to the previous month, while non-EVs saw only a 1.7% increase. This trend has resulted in an average wholesale price for used EVs reaching approximately $30,400, a notable 11.5% increase year-to-date. In contrast, non-EVs have only increased to an average of $19,125.
The retail price for used EVs was reported at $37,083 in May. Sales of used EVs also rose to 42,923 units in May, marking a 5.5% month-over-month and 24.7% year-over-year increase, with Tesla leading sales. Jonathan Gregory from Cox Automotive noted that gas prices are a critical factor influencing vehicle costs, as a potential influx of off-lease EVs later this year could impact prices.
The national average gas price has increased by 21% year-over-year to $3.80 per gallon, although it has decreased from recent highs. This situation contrasts sharply with new EV sales, which have declined significantly in the second quarter, as automakers face challenges in maintaining sales momentum after the expiration of consumer incentives last year