Connect with us

Published

on

Prices for used EVs in the US have stabilized after climbing 12 of the last 16 months, according to electric vehicle range analyst company Recurrent’s “Used Electric Car Prices & Market Report – Q4 2022,” which was released today.

Used EV prices are leveling out

This price stabilization is great news because, based on price, Recurrent reports that only 12% of used EVs on the market today would qualify for the tax credits that begin in January 2023 as part of the Inflation Reduction Act (IRA).

The IRA includes a used EV credit that will be applied at 30% of the purchase price with a cap of $4,000.

All used plug-in electric vehicles with batteries that are at least 7 kWh are eligible if the model year is at least two years earlier than the calendar year in which the taxpayer acquires it and the cost of the used EV is under $25,000.

Plug-in hybrids are included in the used tax credit, and 50% of the cars that meet the $25,000 price cap are plug-in hybrids. 

Only 17% of used EV sales from the last quarter were under $25,000, and 12% of inventory was listed below that price. 

The used EV credits are limited to individuals with an adjusted gross income of up to $75,000, a head of household income of up to $112,500, or joint filers with adjusted gross incomes of up to $150,000. EV purchasers are eligible for the used credit once per three years. 

Used EVs must be sold through a licensed dealer in order to qualify for the IRA tax credit. Since about 50% of used car sales today are assumed to be private, Recurrent logically points out that we should expect to see a shift to a more dealer-favored market for lower-priced used EVs. 

The EV credits can be applied at point-of-sale starting in 2024.

Scott Case, cofounder and CEO of Recurrent, said:

The US electric car market is on the verge of an inflection point.

If we get this right, and the bill works as intended, the EV targets and combustion engine bans for 2035 look suddenly timid. 

Recurrent has a detailed used EV tax credit explainer on its website. 

The actual cost of a used EV

The Recurrent report also relays that the average resale age of a gas car is over six years old, while the average age for resale of an EV stands at just four years. 

The average price for a used EV listing is $42,700 compared to an average used gas car price of $33,957. But savings on no longer buying gas must be factored in for a total EV cost. NerdWallet writes:

Over the anticipated 15-year life span of a vehicle, the electricity to run an electric vehicle can be as much as $14,480 cheaper than fueling a gas-powered car, according to a study done by the US Department of Energy’s National Renewable Energy Laboratory and the Idaho National Laboratory.

The market report also includes research from August that compares EV adoption projections. Over the course of four years – from 2018 to 2022 – US EV sales projections for 2030 more than doubled, growing from an estimated 21% to 53% over that period. It demonstrates that adoption is already happening much faster than many predicted.


UnderstandSolar is a free service that links you to top-rated solar installers in your region for personalized solar estimates. Tesla now offers price matching, so it’s important to shop for the best quotes. Click here to learn more and get your quotes. — *ad.

FTC: We use income earning auto affiliate links. More.


Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.

Continue Reading

Environment

Nissan may keep this gas SUV alive despite a new EV version coming soon

Published

on

By

Nissan may keep this gas SUV alive despite a new EV version coming soon

Although the Nissan Juke EV is set to debut next year, the crossover SUV may still be offered with a gas engine after all.

Nissan looks to sell gas-powered Juke SUV alongside EV

After announcing an investment of up to £3 billion ($3.9 billion) to upgrade its Sunderland, UK, plant, Nissan revealed plans to convert three of its top-selling vehicles to electric.

The new EV models include the next-gen LEAF, Qashqai, and Juke. All will be built at the Sunderland facility as part of the Japanese automaker’s brand revamp.

Nissan is preparing to launch the electric version of its iconic LEAF hatchback later this year, followed by the Juke EV in 2026 and the Qashqai EV in 2027. According to Automotive News, Nissan is looking to keep the gas-powered Juke SUV alive for a little longer.

Advertisement – scroll for more content

The Juke is Nissan’s second-best-selling vehicle in Europe, behind the Qashqai. The report claims Nissan is worried about regulations and the demand for EVs in parts of Europe.

Nissan-Juke-Qashqai-EV
Nissan Juke and Qashqai (Source: Nissan)

Like it did with the Qashqai, Nissan could continue selling the Juke with an upgraded hybrid powertrain. Nissan launched the next-gen Qashqai last month, claiming its e-POWER hybrid powertrain has the “best in C-Crossover segment fuel efficiency, with 4.5L per 100km and a potential range of 1,200km (WLTP).”

Although it uses an electric motor to power the wheels, it still has a gas engine that acts as a generator to charge the battery.

Nissan-Juke-HEV
Nissan Juke HEV (Source: Nissan)

The next-gen LEAF, Juke, and Qashqai were expected to be a key part of Nissan’s recovery plans. After quietly delaying the electric Qashqai, will the Juke EV be next?

A report from Japan’s Kyodo News (via Reuters) last month claimed Nissan is already cutting production plans for the 2026 LEAF.

Nissan-LEAF-EV
2026 Nissan LEAF (Source: Nissan)

In the US, Nissan is pushing back the production of two electric vehicles that were scheduled to be built in Canton, Mississippi. Is it time for the Japanese automaker to sound the alarm?

Later this year, Nissan will launch the new and improved LEAF EV. After dropping its signature hatchback look for a more crossover SUV-like design, the LEAF is a significant upgrade from the outgoing model, offering longer range, faster charging, and much more.

Should Nissan keep the gas-powered Juke on sale? Or go EV-only as initially planned? Let us know your thoughts in the comments.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Victims of Tesla Autopilot crash are seeking $345 million in damages

Published

on

By

Victims of Tesla Autopilot crash are seeking 5 million in damages

The victims and family of victims of a crash involving Tesla Autopilot are seeking $345 million in damages as part of a wrongful death court case.

We reported on this case at trial in Miami last month.

The case attempts to place some responsibility on Tesla for creating complacency with drivers, who were led to believe Autopilot could do more than it actually could.

George McGee was driving his Model S on Autopilot in Key Largo in April 2019 when he dropped his phone and looked down to pick it up when the car blew past a stop sign at a T intersection, and crashed into a parked Chevrolet Tahoe.

Advertisement – scroll for more content

22-year-old Naibel Benavides Leon and her boyfriend Dillon Angulo were standing next to the parked Tahoe. Benavides died and Angulo was seriously injured.

The police charged McGee with reckless driving, but the families of the victims sued both McGee and Tesla. McGee settled with the plaintiffs, but Tesla hasn’t.

The trial lasted almost a month, but both parties had their closing arguments yesterday, and the jury is now deliberating.

The plaintiffs have asked the jury to award them nearly $345 million in damages, comprising $109 million in compensatory damages and $236 million in punitive damages.

They have alleged that Tesla was careless in how it released and marketed Autopilot, leading owners like McGee to become overconfident in the driver assistance system, which contributed to the crash.

Tesla has been putting all the blame on McGee, who admitted to being distracted.

The automaker has also attempted to claim that it has telemetry data indicating the driver pressed the accelerator pedal. Still, the plaintiffs’ counsel has raised concerns about Tesla’s handling of the data.

Recently, Tesla has settled several wrongful death lawsuits involving its ADAS systems (Autopilot and Full Self-Driving), and there are dozens of fatal crashes involving the systems.

Electrek’s Take

It will be interesting to see the results of this trial, which I expect to see any day now. It is a bit of a complicated case, but I don’t think the jury will take weeks of deliberation.

In recent months, Tesla settled two similar cases and we don’t know for how much.

At this point, it’s unclear why the case did not settle before trial, as the trial is not a good look for Tesla, regardless of the outcome. Tesla is working hard to keep most of the information confidential, but specific details are emerging that make the Company look bad.

It’s possible that Tesla tried to settle, but the plaintiffs wouldn’t, or Tesla felt confident about winning this case.

I wouldn’t be surprised if this specific case is being watched by many other legal teams working on other fatal crashes involving Tesla’s ADAS systems.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Ford’s (F) EV sales remain flat in July ahead of the big reveal

Published

on

By

Ford's (F) EV sales remain flat in July ahead of the big reveal

Despite sales in the US rising 9%, Ford’s (F) EV sales remained flat in July. Ford says the Mustang Mach-E is back on track, but CEO Jim Farley promises the company will reveal its next “breakthrough” EV in just a few days.

Ford’s US sales rise in July, but EV growth remains flat

Ford sold a total of 198,313 vehicles in the US in July, up 5% year-over-year (YOY). Although it outpaced the estimated industry average of about 5%, Ford’s electric vehicle sales fell a modest 0.2%.

With 5,308 Mustang Mach-Es sold last month, Ford said the electric SUV had its best July ever and is now ahead of its 2024 pace. The Mach-E was hit with a recall earlier this year, affecting nearly 200,000 models in the US.

Overall, Ford sold a total of 8,229 EVs in July, down slightly from the 8,242 it handed over last year. F-150 Lightning posted slightly higher sales (0.3%) with 2,831 units sold.

Advertisement – scroll for more content

Meanwhile, sales of the E-Transit electric van continued slipping with only 90 units sold last month, a decrease of 89% from July 2024.

Ford's-EV-sales-July
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)

With 47,217 units sold through the first seven months of 2025, Ford’s EV sales are down 9.9% compared to the same period in 2024.

During Ford’s second-quarter earnings call on Wednesday, Farley announced that the company would unveil “plans to design and build a breakthrough electric vehicle and platform in the US.”

Ford's-EV-sales-July
2025 Ford Mustang Mach-E (Source: Ford)

Farley called it “a Model T moment” for Ford, adding that it will offer “a chance to bring in a new family of vehicles” with advanced tech, efficiency, space, and features.

Rather than competing with Japanese and South Korean brands in the mass-market EV market, Ford will focus on what it does best — trucks and SUVs. Ford is developing a new, low-cost EV platform and plans to manufacture LFP batteries in Michigan, enabling more affordable and profitable electric models.

Ford's-EV-sales-July
2025 Ford F-150 Lightning (Source: Ford)

The first electric model built on Ford’s new platform is expected to be a mid-size pickup truck, set to arrive in 2027. Ford will reveal more about its big EV plans on August 11 in Kentucky.

Following the success of its “From America, For America” campaign, which offered employee pricing to all, Ford launched a new promotion in July, “Triple Zero.” The new campaign offers $0 down, 0% interest, and zero payments for the first 90 days.

Looking to test one out for yourself? You can use our links below to find deals on the Mustang Mach-E and F-150 Lightning at a dealer near you.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending