But the price drops have been especially pronounced on the used-car side of the lot, where pre-owned EVs are now selling for 11.4% less than internal combustion models. A year ago, they were going for 12.

Used electric vehicle prices continue to plummet according to a new iSeeCars study. By plu mmet, we mean they've lost 24.7 percent of their value over the past year, falling four times faster than hybrids and six times faster than gasoline models. Compare that to a 6 percent drop in used hybrid prices and 4.4 percent drop in used gasoline prices.

Electric vehicles (EVs) are losing value at an “unsustainable” rate as a slowdown in consumer demand sends used car prices tumbling, leasing companies have warned.

A ccording to a study from iseecars.com published this month, used car prices have slumped somewhat with the EV market especially being dragged down by the Tesla Model 3’s 24.8%

Consumers are staying out of the market amid high insurance, loan, and maintenance costs, Bank of America says.