Used EV prices surge 12% in a month as Iran war and high gas prices drive demand
Used electric vehicle prices are rising sharply due to increased demand driven by the Iran war and high U.S. gas prices. Cox Automotive reports that the Manheim Used Vehicle Value Index for EVs increased 12% in July 2025 compared to June 2025, far outpacing the 1.7% increase for non-EVs. Wholesale EV prices have risen every month this year, with average pricing reaching roughly $30,400.
Key quotes
The company on Wednesday reported that its Manheim Used Vehicle Value Index for EVs — which tracks prices of used vehicles sold at its U.S. wholesale auctions — increased 12% last month compared with June 2025.
That compares with a 1.7% increase for non-EVs over the same period.
Wholesale EV prices have increased every month this year, leading to an 11.5% jump in average pricing to roughly $30,400.
From the article
The Manheim Used Vehicle Value Index for EVs — which tracks prices of used vehicles sold at its U.S. wholesale auctions — increased 12% compared to June 2025.
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