Electric Vehicles Now Dominate Used Auto Market

Despite the encouraging increase in sales in early 2016, electric vehicles remain at less than 1% of the new car market. Between confusion about the technology, limited inventories, and high prices for the plug-ins that are available, going electric has been a tough sell on the mass market. According a new study by iSeeCars, used EVs do not have this problem.

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. Five out of the 10 fastest-selling used models were either a hybrid, PHEV, or EV.

According to iSeeCars.com CEO Phong Ly, there are various factors at work here, including the coveted HOV lane access in California. Faster depreciation for plug-ins also plays a role. However, the limited inventory and high new sticker prices have to be considered as well. Here are the three plug-in electric vehicles that are the hottest sellers — Nos. 1, 2, and 3 — on the American used car market.

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