The loss of $7,500 federal tax credits should, in theory, have put every EV brand on an even footing, but Tesla and its customers decided to write their own script. While most electric car values have dropped since last fall, Tesla values are actually climbing.

According to a new study, used Tesla prices have risen 4.3 percent since the EV credit disappeared at the end of September 2025. Over the same period, nearly every other used EV dropped an average of 3.6 percent.

More: EV Sales Fell Off A Cliff, Yet New Car Prices Still Set Another Record

Because Teslas make up such a huge slice of the used EV pie, the average price of all used EVs actually went up 3.5 percent, painting a superficially rosy picture. Strip Tesla out of the equation and things look very different. Non-Tesla EVs slid from an average of $24,629 to $23,738. Meanwhile, used combustion cars dipped 2 percent.

Declining Share

The iSeeCars study also found that used EV market share fell 20 percent between September and January, dropping from 3.5 percent to 2.8 percent. A year earlier, that share had been climbing, but now it is heading the other way. The early adopters already have their EVs. Mainstream buyers are apparently thinking harder about price, charging, and range.

Average Prices For 1- To 5-Year-Old Used Cars

Look at individual models and the pattern gets clearer. Lower-cost EVs like the Hyundai Kona Electric, Volkswagen ID.4, Kia Niro EV and Nissan Leaf all lost between roughly five and six percent of their value. Meanwhile Tesla Model 3 and Model Y prices ticked up, as did those for the Porsche Taycan, the only non-Tesla EV to experience a jump in values.

New EV Prices Down

New EVs tell a similar story. Excluding Tesla, which iSeeCars doesn’t have data for, average new EV prices dropped 2.3 percent, while new internal combustion vehicles rose 2.5 percent. Some mainstream EVs like the Hyundai Ioniq 5 and Chevrolet Equinox EV saw even steeper cuts.

Carmakers are clearly trying to replace that vanished tax credit with old fashioned discounting, but falling EV sales figures since tax credits disappeared tells us it’s not a complete fix.

Average Used EV Prices

Average New EV Prices

While Lucid has carved out a niche in the premium EV market with impressive engineering and design, even the most advanced models aren’t immune to real-world ownership realities. Software hiccups aside, the Lucid Air remains a strong contender, but like many luxury electric vehicles, it faces steep depreciation, a fact this particular seller encountered firsthand.

Read: Spilled Water Bricks Lucid, Repair Costs As Much As A Used Corolla

This 2025 Air, finished in Fathom Blue Metallic, is the Grand Touring variant. It sits near the top of Lucid’s lineup, just below the range-topping Air Sapphire, which plays in near-hypercar territory when it comes to straight-line performance.

A look at the window sticker shows a base price of $110,900 before destination charges. This example came well-optioned, including the $5,500 Tahoe extended leather package, Lucid’s $2,500 DreamDrive Pro driver assistance system, and $3,750 power front seats equipped with massage and ventilation.

What’s The Price Of Premium?

With these extras and a $1,500 delivery fee, the total MSRP climbed to $124,950 before taxes. The seller acquired the car less than a year ago, making the next part of the story particularly painful.

According to the Cars & Bids listing, the original owner bought it in February of last year and drove it just 6,500 miles (10,500 km) before putting it up for sale a few days ago. Despite being in near-new condition, it sold for only $75,500. That’s a brutal financial loss of $49,450. And that’s before taxes and other expenses like registration fees. It’s a sharp reminder of how rapidly luxury EVs can shed value.

Cars & Bids

The good news, if you’re the buyer, is that much of that initial depreciation has likely already happened. Although the car will continue to lose value over time, as most do, the worst of the drop may be behind it. Some 2022 Air Grand Touring models are now changing hands for prices in the mid-$50,000 range, so this one may continue along that curve.

Read: Popular YouTuber Got Critical With Lucid, And Things Didn’t End With A Shrug

Still, for a long-term owner, there’s reason to feel good about the purchase. They’ve essentially sidestepped nearly $50,000 in immediate depreciation, while gaining access to one of the most refined and tech-laden luxury sedans available.

The Air Sapphire has attracted most of the buzz over the past couple of years, but the Grand Touring remains extraordinarily impressive. It has a pair of electric motors with a combined 819 hp, allowing it to hit 60 mph (96 km/h) in around 3 seconds. In addition, it has an exceptional driving range of 512 miles (824 km), among the highest of any current EV in the market.

Cars & Bids