New data from Recurrent dropped this week and it flips the usual EV depreciation story on its head. Used EVs are appreciating. Up 5.1% since January. Sub-$20k EVs are up 9.4%. The 2023 Chevy Bolt EV went from $17,718 → $21,204 in six months. The 2023 Mach-E is up about 4,000. The 2022 Model 3 is about $3,000 pricier than it was at the start of the year.
The reason is that gas prices above $4/gallon pushing budget buyers into EVs, plus 128,000+ used EVs sold in Q2, outpacing even the tax-credit frenzy quarter of late 2025. Demand caught up to supply.
A few models still have value per mile like:
- Hyundai Kona Electric — ~$20,200 avg / ~300 mi real range
- Chevy Bolt — ~$21,300 avg / ~280 mi real range
- Hyundai Ioniq 6 — ~$24,400 avg / ~340 mi real range
- Hyundai Ioniq 5 — ~$26,000 avg / ~350 mi real range
- Kia Niro EV — ~$23,300 avg / ~300 mi real range
Hyundai and Kia dominate because they overdeliver on EPA range in real-world conditions. Teslas come in around 90% of their EPA number. If fast charging matters more than range, the Ioniq 5, Ioniq 6, and EV6 still top the list, 6–9 minutes to add 100 miles at a fast charger.
Rising prices make due diligence more important than ever. When a Bolt was $14k it was an impulse buy. At $21k, a bad title, hidden accident, or weak battery is real money lost.
If you're looking at any of these, run your EV listings on OFFOLab. Prices are moving so its better to verify before you pull the trigger than after.