After a 90-day period, businesses review their financial performance to identify trends in their industry and predict how their product will perform for the next 90 days. This is similar to automotive companies measuring the performance of their used electric vehicles during the first 90 days of the year and predicting how they’ll do for the second quarter of the year.
Big Valley Auto Auction has been in the automotive business for over 15 years. We continuously keep up with how all types of vehicles performed throughout the years., which is why we want to let you know how used electric vehicles performed for the first 3 months of 2024.
In this article, you’re going to learn how used electric vehicles performed in the first quarter of 2024, along with the best and least selling brands and models.
After reading this article, you’ll have a better understanding of how different used electric vehicle brands and models performed during the first 3 months of the year and how you can use this information to predict how they’ll perform for the next 3 months.
How Did Used EVs Do in Q1 of 2024?
The popularity of electric vehicles (EVs) have been high over the past few years. As a result, total sales for used EVs during the first quarter (Q1) of 2024 are higher than 2023’s Q1 sales. Here is a breakdown of the total sales of used electric vehicles, and the best and least selling brands and models for Q1 of this year.
Total Sales
2024 Q1 total sales: 268, 909
2023 Q1 total sales: 262,043
Up 6,866 sales
Brand
Best-Selling: Tesla
2024: 140,187
2023: 161,630
Down 21,443 sales
Least-Selling: Mazda
2024: 0
2023: 15
Down 15 sales
Model
Best Selling: Tesla Model Y
2024: 96,729
2023: 95,362
Up 1,364 sales
Least-Selling: Mazda MX 30
2024: 0
2023: 15
Down 15 sales
How Will Used EVs Do in Q2 of 2024?
Although the popularity of electric vehicles continues to grow, the average price of used EVs has lowered about 16%, from $37,000 to $31,000. This drop is good for car buyers, as it means slightly less expensive prices for used EVs.
Whether you’re a dealer who’s preparing to sell used electric vehicles this year, or you’re just interested in vehicle statistics, you can use this article as a reference to better understand how used EVs performed in Q1 and help you predict how used EV sales will do in Q2.
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