Electric vehicles (EVs) are a growing force in the used car market. As the cars generate popularity, more hit the market and eventually become used cars. As with any emerging part of the car market, not all vehicles are equal. Some brands fly off the lot, while others sit for a considerable time. With our data at UsedCars.com, we’ve analyzed listing durations for various EV models. Our takeaways are as follows:
Key Findings
Luxury EVs Tend to Linger Longer: High-end models from luxury brands often stay on the market significantly longer.
Newer Models Are a Mixed Bag: While some new EV models from established brands are selling quickly, others are taking longer to move. This volatility within the market could indicate that the EV market is still finding its footing and that newer players are still building confidence in consumers.
Tesla Remains Popular: In-demand EVs like the Tesla Model 3 and Model Y spend less time on the market, signaling strong buyer interest. This trend is representative of Tesla’s relative affordability and the familiarity Tesla holds with buyers compared to other manufacturers’ EV lines. There is one Chevrolet model that competes with Tesla, however. (See below)
Top 5 EVs with the Longest Listing Durations
Certain EVs are spending well over 40 days on the market.
BMW i7: 52.0 days
BMW iX: 50.8 days
GMC HUMMER EV SUV: 44.7 days
GMC HUMMER EV Pickup: 43.8 days
BMW i5: 42.5 days
These luxury models, with their premium price tags and niche appeal, may face challenges in finding the right buyers quickly. If you’re eyeing a luxury EV, these models could be worth a look for potential deals.
EVs with the Shortest Listing Durations
On the other end of the spectrum, these EVs are moving off the market in record time:
Polestar 2: 11.8 days
Rivian R1T: 14.5 days
Volkswagen e-Golf: 15.9 days
Nissan Ariya: 16.1 days
Genesis Electrified GV70: 17.4 days
The short listing durations suggest these models are in high demand or have limited availability. These 5 EVs do lean more toward luxury, but they are popular models that represent some of the best technology and build quality EVs offer. Notably, most of these models have relatively few listings, with the Polestar 2 at the highest, with 161 listings, still far below the most popular EVs on the market.
Popular Models
Popular EVs, particularly those from Tesla and Chevrolet, exhibit relatively short listing durations despite high inventory levels:
Tesla Model 3: 20.7 days (3,766 listings)
Tesla Model Y: 21.8 days (1,999 listings)
Chevrolet Bolt EV: 23.6 days (1,356 listings)
The steady demand for these models means they’re less likely to linger, but their high volume ensures you’ll still find plenty of options. The Chevrolet Bolt stands out as a competitive, affordable EV as the only non-Tesla vehicle with over 1,000 listings. The Bolt also has a similar listing duration to its Tesla counterparts.
Statistical Insights: EV Market Trends
Luxury Dominance: BMW models (i7, iX, i5) dominate the longest-listing category, collectively averaging over 48 days. This trend suggests that ultra-premium EVs are more challenging to sell compared to mid-range or entry-level options. The market is still growing and buyers likely don’t want their first foray into owning an EV to be an ultra-premium option.
Performance vs. Practicality: Vehicles like the GMC HUMMER EV (both SUV and Pickup) reflect a divide between high-performance design and market demand. While visually striking, these models may cater to a smaller buyer demographic due to their price and size.
Tesla’s Unique Position: The Tesla Model 3 and Model Y represent what happens when there’s both high demand and substantial inventory. They are outliers in the EV market. Despite being listed in thousands (Model 3: 3,766; Model Y: 1,999), their average listing durations remain under 22 days.
Rapid Movers: Models like the Polestar 2 and Rivian R1T, with average listing times of under 15 days, show that these luxury EV options from emerging brands have interest that translates directly to sales.
When shopping for an electric vehicle, listing duration is just one of many factors to consider. It’s essential to evaluate other aspects such as pricing, features, and your personal needs. Conversely, high-demand models with shorter listing times may require faster decision-making to secure a purchase.