Many people resort to buying used cars when they are unable to afford a new one. When it comes to new cars, most customers opt for internal combustion powered vehicles rather than hybrids or electric vehicles. This is not the case when it comes to the used car sector. While electric cars account for only 1 per cent of new car purchases, electric cars and hybrids dominate the list of the top 10 fastest selling cars when it comes to used vehicles. This is based on a list of fastest selling used cars published on iSeeCars based on data for the months from January to August this year. Six of the models on the list of top 10 cars have some level of electrification while two are pure electric cars. The model that sells the fastest on used car lots is the Fiat 500e which has an estimated range of 87 miles and takes an average of 22.2 days to sell. The model has a very low resale value with the average price being USD 9,055. The BMW i3 is another popular model and takes only an average of 23.2 days to sell. Other cars with electric technology on the list include the Toyota Prius Plug-In Hybrid in fourth place, the all-electric Nissan Leaf in sixth place, the Ford Fusion Energi and Tesla Model S.
Of the six electrified cars on the list, four experienced double-digit price drops year-over-year but the Tesla Model S proved to be an exception, with its value actually increasing in the used car market, due to the scarcity of used Tesla Model S sedans and the general increase in Tesla’s popularity. While the average used vehicle takes 33.4 days to sell, each of the electrified cars was significantly lower than that benchmark.
It certainly looks like electric cars are becoming more and more popular.
Manju Mathew, an MBA in marketing, completed publisher training courses from the Oxford Brookes University and New York University. She started with marketing and PR roles before moving on to her current position as a full time writer. Currently living in Dubai, her life as an expat has sharpened her observation skills and flair for writing. She enjoys writing about luxury cars like Ferrari, Lamborghini, etc even if she can only dream of owning them.
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