Electric and Plug-In Hybrids Are the Fastest-Selling Cars on the Used Market
Could this be proof that price is the only thing keeping electrified cars from going mainstream?
A new report from car research site iSeeCars shows some fascinating data about the fastest-selling used cars so far in 2017.
iSeeCars has analyzed over 2 million used cars, all one to three years old, sold from January through August of this year. It turns out that the overall average amount of time a used car spends sitting on the lot is 33.4 days. Out of the top ten fastest-selling used cars, six of them are either electric or plug-in hybrid. That’s a big surprise, but the most shocking part is the car topping the list. Here are the top 10.
1. Fiat 500e - 22.2 average days on market
2. BMW i3 - 23.2 average days on market
3. Lexus IS 200t - 24.5 average days on market
4. Toyota Prius Plug-in Hybrid - 24.7 - average days on market
5. Hyundai Veloster Turbo - 24.9 average days on market
6. Nissan Leaf - 25.0 average days on market
7. Scion FR-S - 25.1 average days on market
8. Mercedes-Benz GLC - 25.7 average days on market
9. Ford Fusion Energi - 26.1 average days on market
10. Tesla Model S - 26.1 average days on market
There are some very unlikely names on this list. Let’s start with the Fiat 500e. I don’t think I’ve ever seen one of these in person—at least not that I’m aware of. The car’s scarcity and deep depreciation are likely the reasons for its quick turnaround on used lots. Not to mention the fact that it doesn’t require gas. The average price of a one- to three-year-old Fiat 500e is only $9,055 which is a 40.4 percent drop from last year’s average.
The BMW i3 is another used car that has lost a lot of its value this year. The average price of a used i3 dropped to just $23,603, a 38.4 percent decline from 2016. While still a bit pricey for a used subcompact, that’s not a bad deal for this futuristic luxury hatch. It certainly stands out more and performs better than the Fiat.
With the notable abundance of alternative-fuel cars on this list, it sure seems like cost is still a high barrier keeping people from adopting electric and plug-in hybrid cars on a more widespread scale. Clearly, people are eager to buy cars that burn little or no gas, but only after those cars have depreciated.
What cars are you surprised to see on this list? Would you consider a used alternative-fuel car if the price is right?