Tesla’s Model 3 remained on top of the most popular used EVs in the US last year, with the Model Y in second. Other Tesla vehicles, including the S and X, fell in the rankings as cheaper EV models gained ground.
Top ten most popular used EVs in 2023
Last year, Tesla claimed the top four spots with the 3, Y, S, and X, respectively. As EV adoption climbed in the US, buyers sought more affordable used models.
Tesla’s Model 3 accounted for 34.9% of used EV sales in 2023 (1 to 5-year-old vehicles). The Model Y was second with 11.9% of the share.
The Chevy Bolt EV jumped four spots to third, beating out the Model S and X for 6.9% of the market. Meanwhile, Nissan’s LEAF was fourth with 6.2% of used EV sales in the US.
Although the Chevy Bolt and Nissan LEAF are two of the most affordable EVs in the US, both are due for replacements.
GM stopped building the Bolt EV at the end of the year with plans for a next-gen model due in 2025 (You can still get the Bolt for under $20,000). Nissan’s next-gen LEAF is due out next year. With a complete redesign, it will be closer in style to the Ariya, Nissan’s electric SUV.
| 2023 rank | Model | 2023 % of used EV sales | 2022 rank | 2022 % of used EV sales |
| 1 | Tesla Model 3 | 34.9% | 1 | 40% |
| 2 | Tesla Model Y | 11.9% | 2 | 10.3% |
| 3 | Chevy Bolt EV | 6.9% | 6 | 6.2% |
| 4 | Nissan LEAF | 6.2% | 5 | 6.7% |
| 5 | Tesla Model S | 5.6% | 3 | 9.8% |
| 6 | Tesla Model X | 5.5% | 4 | 7.7% |
| 7 | Ford Mustang Mach-E | 4.6% | 7 | 3.7% |
| 8 | Audi E-Tron | 2.9% | 8 | 2.7% |
| 9 | Porsche Taycan | 2.4% | 9 | 2.4% |
| 10 | Volkswagen ID.4 | 2.2% | 10 | 1.7% |
Tesla’s Model S was the fifth most popular, with 5.6%, down from 9.8% in 2022. The Model X was sixth with 5.5%, down from 7.7% last year.
The remaining most popular used EVs stayed the same, with the Ford Mustang Mach-E in seventh (4.6%), the Audi e-tron eighth (2.9%), the Porsche Taycan ninth (2.4%), and the Volkswagen ID.4 in tenth with 2.2%.
More used EVs are on the way
The US just hit another record, with EV sales expected to account for around 8% of overall sales. Next year, it will be about 10%, according to Cox Automotive.
Cox said the used EV market is expected to be the fastest-growing wholesale/used vehicle market segment.
Most automakers hit record EV sales this year, with demand climbing. Tesla hit its goal, delivering over 1.8 million EVs last year.
Ford said it was the second-best-selling EV brand in the US, with 72,608 electric models sold. The F-150 Lightning was the top-selling electric truck, while the Mustang Mach-E was the second most popular electric SUV.
GM’s Chevy Bolt had a record year with over 62,000 units sold in 2023. Meanwhile, Hyundai and Kia both achieved records last year. Hyundai sold nearly 47,000 IONIQ 5 and IONIQ 6 EVs last year, while Kia EV6 sales reached almost 19,000.
With EV sales climbing, that means more used options will be available. Karl Brauer, executive analyst at online auto research firm iSeeCars, said, “Without major updates to Tesla’s most expensive vehicles, they are likely to continue dropping.”
Tesla is updating the Model 3. The refreshed Model 3 has been spotted testing in the US and is expected to hit the market soon. That could bump up used Model 3 sales even higher.
Source: iSeeCars
FTC: We use income earning auto affiliate links. More.
Comments