Wholesale car dealers are bidding higher for used electric vehicles.
The rising prices are consistent with high fuel costs here in the US.
A pending surge in off-lease supply is likely to create market volatility in the second half of the year.
Used electric vehicle prices are rising—and it's happening faster than gas-powered cars. According to new data from Cox Automotive, used EV wholesale prices are up nearly 12 percent year over year. That compares with just about 3 percent growth for traditional gas-powered vehicles over the same period. The gap highlights a growing imbalance in demand across the used car market.
A big part of the pressure is coming from the cost of fuel, which remains roughly 38 percent higher than it was a year ago. That has pushed more shoppers toward used EVs as a way to reduce long-term running costs, especially for daily commuting.
